Goldman Sachs The group will cut the salary of CEO Solomon by about 30% to US$25 million in 2022. Over the past year, Goldman Sachs has seen its stock decline and earnings slump, as has its high-profile consumer banking business.
Solomon’s compensation package includes a base salary of $2 million and variable compensation of $23 million, of which $16.1 million is restricted stock.
SolomonGoldman Sachs has invested billions of dollars in consumer banking platform Marcus, but the unit has racked up pre-tax losses of $3.8 billion over the past three years. Solomon admits that the company is too aggressive in this area.
This year Goldman Sachs launched one of the largest job cuts ever, planning to cut about 3,200 jobs.
Solomon, 61, is one of the highest-paid CEOs of large U.S. banks in 2021, earning $35 million that year, tying Morgan Stanley James Gorman is no match. In 2022, Gorman’s compensation will be reduced by 10% to $31.5 million. JPMorgan Jamie Dimon’s salary remains unchanged at $34.5 million.
Editor in charge: Li Tong
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Event Tracking
- 2023-01-27 Poor performance Goldman Sachs CEO salary shrunk by 30% last year, far worse than JPMorgan Chase and others
- 2023-01-13Apple Apple Card has cost Goldman Sachs more than $1 billion since 2020
- 2023-01-11Goldman Sachs Asset Management’s first climate-focused environmental fund completes fundraising
- 2023-01-09Goldman Sachs will lay off about 3,200 people this week, involving core departments such as trading
- 2022-12-16Goldman Sachs is said to be considering layoffs of up to 4,000 people
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