Goldman - A Clue About The CEO Succession ?


Lloyd Blankfein’s top deputies are no longer equal in terms of pay at Goldman Sachs.

Bloomberg reports that President Gary Cohn, 52, was awarded a $19m compensation package, 12% more than Vice Chairmen J. Michael Evans and John S. Weinberg, according to the New York-based firm’s annual proxy filing.

The disparity is the first since 2007, when Blankfein’s bonus set the record for a Wall Street chief executive officer.

The change may further fuel speculation about which executive is most likely to succeed Blankfein, 58, who sometimes out-earned his own boss Henry Paulson. Blankfein, who succeeded Paulson as Goldman Sachs chairman and CEO in June 2006, said in a February interview with Bloomberg Television that he has plans to stay in the top job indefinitely.

'If somebody gets more money that could be a sign' that they’re in the running for the job eventually, said Jeanne Branthover, Managing Director at Boyden Global Executive Search in New York. 'A partnership is very big about ‘what message are we giving each partner ?’'

Hit the link below to access the complete Bloomberg article:

Goldman Sachs Pays Cohn More Than Evans in First Gap Since 2007

Goldman Sachs Gives Blankfein $5 Million Long-Term Incentive

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