Home Money Goldman boss receives £67m bonus to stay in role for five years

Goldman boss receives £67m bonus to stay in role for five years

0 comments
Extraordinary salary: Goldman Sachs boss David Solomon is a part-time DJ who goes by D-Sol

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.

DIY INVESTMENT PLATFORMS

Easy investing and ready-to-use portfolios

AJ Bell

Easy investing and ready-to-use portfolios

AJ Bell

Easy investing and ready-to-use portfolios

Free Fund Trading and Investment Ideas

Hargreaves Lansdown

Free Fund Trading and Investment Ideas

Hargreaves Lansdown

Free Fund Trading and Investment Ideas

Fixed fee investing from £4.99 per month

interactive inverter

Fixed fee investing from £4.99 per month

interactive inverter

Fixed fee investing from £4.99 per month

Get £200 back in trading fees

sax

Get £200 back in trading fees

sax

Get £200 back in trading fees

Free trading and no account commission

Trade 212

Free trading and no account commission

Trade 212

Free trading and no account commission

Affiliate links: If you purchase a This is Money product you may earn a commission. These offers are chosen by our editorial team as we think they are worth highlighting. This does not affect our editorial independence.

Compare the best investment account for you

You may also like