Goldman Sachs to pay bonuses in stock
AFP - 1 hour 28 minutes agoUS investment giant Goldman Sachs said it would pay bonuses to top executives in stock instead of cash this year under a policy adopted amid a growing furor over banker pay.
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US investment giant Goldman Sachs said it would pay bonuses to top executives in stock instead of cash this year under a policy adopted amid a growing furor over banker pay.
Goldman Sachs on Thursday said its top 30 executives will get year-end bonuses in stock they can't sell for five years.
Goldman Sachs Group Inc.'s top executives will not receive cash bonuses this year, as the Wall Street giant bows to sharp criticism over its pay practices.
Dec. 11 (Bloomberg) -- Bonuses are in the firing line again, with the U.K., U.S., France and even Goldman Sachs Group Inc. looking to trim banker pay. While the debate over excessive compensation started on Wall Street, it shouldn’t end there.
The Wall Street firm instead will give them stock and bar them from selling it for five years. Critics call the move window dressing instead of real reform. Facing persistent criticism of its huge pay packages, investment banking powerhouse Goldman Sachs Group Inc. said Thursday that it would buck long-standing Wall Street tradition and pay no year-end cash bonuses to 30 top executives.
Dec. 11 (Bloomberg) -- Goldman Sachs Group Inc. ’s plan to pay top executives in restricted stock will let the firm defer compensation expenses, reducing what it must report this year after being pilloried for setting aside more than $16 billion for employees.
Goldman Sachs announced Thursday that its top 30 executives, including chief executive Lloyd Blankfein, will receive all of their 2009 bonuses in the form of restricted stock, which must be held for five years before the executives can cash it in, the bank said.
US investment giant Goldman Sachs said all 2009 bonuses for top executives would be in the form of restricted stock instead of cash under a new policy aimed at discouraging excessive risk-taking.
The results of the index’s semi-annual rebalancing will be released today after the close of trading, Goldman Sachs analysts Richard Tang and Kenneth Kok said in a note today. The changes will be effective following the last trading day this month, according to the brokerage.
Dec. 10 (Bloomberg) -- Goldman Sachs Group Inc. , derided for allocating $16.7 billion to pay employees after a bailout by taxpayers, said its top 30 executives will get year-end bonuses in stock they can’t sell for five years.
Goldman Sachs Group Inc.'s top executives will not receive cash bonuses this year, as the Wall Street giant bows to sharp criticism over its pay practices. The 30 high-ranking executives will instead receive stock that cannot be sold for at least five years, the New York-based bank said.