Goldman looks to quell anger on bonuses


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Published in Financial Times December 4, 2009 by Justin Baer and Francesco and Tom Braithwaite

Top Goldman Sachs executives are likely to receive their annual bonus in stock this year rather than cash as part of a pay review that could affect thousands of the Wall Street bank’s rank-and-file employees.
In a bid to quell public anger over probable multi-million dollar pay-outs to Goldman’s most successful bankers and traders after a bumper year for the bank, Lloyd Blankfein, its chief executive, is weighing plans to increase the share of compensation paid in equity.
Senior executives including Mr Blankfein could be awarded all their annual bonus in company stock, people familiar with the bank’s thinking told the Financial Times. Many of its 31,700 staff may also receive more of their annual bonus in deferred stock or options.

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