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Goldman Sachs pays CEO US$19.9m
NEW YORK—Goldman Sachs chairman and CEO Lloyd Blankfein’s total compensation rose by almost 50 per cent to US$19.9 million last year, boosted by the value of his stock awards. The value of Blankfein’s stock awards more than doubled from US$5.3 million to US$11.3 million. Goldman’s stock rose 39 per cent in 2013 as the bank’s profits climbed. The executive’s cash bonus also increased, climbing 11 per cent to US$6.3 million.
Blankfein has been chairman and CEO since 2006, and has spent more than 30 years at Goldman. His base salary remained unchanged at US$2 million from a year earlier. The bank’s earnings rose about 9 per cent last year as its investment banking revenues improved. He also received US$323,759 in other compensation, including US$43,804 for a car and driver, according to a regulatory filing the bank made Friday.