2012 Bonuses - The Haves and the Have Nots

Pot Of Gold

Who did well (and who might not) ?

Goldman Sachs handed a bigger share bonus to its London chief Michael Sherwood than to any other executive this year.

The Sunday Telegraph reports that Sherwood, who is also co-CEO of Goldman Sachs International, and already thought to be Britain’s best-paid banker, saw his bonus double to 109,461 shares, worth $15.8m.

The award was even higher than that handed to Goldman Sachs chief executive Lloyd Blankfein, whose share bonus climbed 90pc to $13.6m.

The investment bank paid more than $100m to its top 12 executives in bonuses.

In the meantime, Bloomberg reports that JPMorgan Chase has awarded co-Chief Operating Officer Matt Zames $9.1m in restricted stock, more than anyone else on the firm’s operating committee, after he helped the bank unwind botched trades.

Zames, the 42-year-old former co-head of fixed-income trading, was promoted twice in 2012 as he helped CEO Jamie Dimon regain control of a U.K. unit’s wrong-way bets on credit derivatives that cost more than $6.2bn in the first nine months of the year.

Finally, The Sunday Express reports that Barclays CEE Antony Jenkins could waive his bonus for 2012 in the wake of the Libor and PPI scandals, sources have indicated.

Jenkins, who succeeded Bob Diamond as chief executive in August, is in line for a maximum annual bonus of $4.63m if he meets performance targets.

Sources say that Jenkins may decide to decline his bonus, if one is offered to him by the bank, given the controversy that surrounds the payments.

Goldman Sachs top City banker Michael Sherwood receives $15.8m share bonus

JPMorgan Gives Zames $9.1 Million in Stock After Trade Cleanup


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