Goldman boss given £67m bonus to remain in role for five years
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Goldman Sachs boosted its chief executive's pay by 26 per cent to £32m last year and set up a £67m retention plan to fight off job offers from rivals. The Wall Street bank handed David Solomon a bumper pay rise amid tough competition for 'the best talent' including from asset managers and private equity firms.
The upgraded five-year retention plan suggests Solomon, 63, a part-time DJ who calls himself D-Sol, will stay 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 stock and cash.
Bumper pay: Goldman Sachs boss David Solomon is a part-time DJ who calls himself D-Sol. It suggests US investment banks are starting to pay senior staff in the same way that profitable buyout firms do. Affiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence.
