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Goldman Sachs increased its chief executive’s pay by 26 percent to £32m last year and set up a £67m retention plan to fight off job offers from rivals.
The Wall Street bank awarded David Solomon a bumper pay rise amid stiff competition for “top talent,” including asset managers and private equity firms.
The enhanced five-year retention plan suggests that Solomon, 63, a part-time DJ who goes by D-Sol, will remain at the helm until the end of the decade.
For the first time, the package includes bonuses based on the performance of the bank’s alternative asset funds, as well as stocks and cash.
Extraordinary salary: Goldman Sachs boss David Solomon is a part-time DJ who goes by D-Sol
It suggests that American investment banks are starting to pay their management staff in the same way that profitable buyout firms do.
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