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Goldman Bosses Get Bonus Cuts, Firm Looks For Growth In Europe

posted: 3 months ago

Reservoir Gods

No big surprise on the comp front, but Goldman has big ambitions for Europe.

Goldman CEO Lloyd Blankfein bagged $7m in restricted stock by way of 2011 bonus - a 44% drop compared to 2011.

Firm President Gary Cohn, CFO David Viniar, and Vice Chairmen John Weinberg and Michael Evans were paid out the same amount.

Goldman hasn't yet disclosed whether any cash bonuses were paid out for last year.

Michael Sherwood, the London-based Vice Chairman and co-CEO of Goldman Sachs International, received $9.5m in restricted stock last year, down from $14.4m in 2010.

Blankfein's base salary was increased from $600,000 to $2m. Cohn, Viniar, Weinberg and Evans were paid base salaries of $1.85m (also up from $600,000).

In the meantime, Reuters reports that Cohn told Swiss newspaper Finanz und Wirtschaft that Goldman is looking at growth from Europe. Cohn said: 'It is definitely our goal to win an even bigger market share in Europe. And this in all areas, whether it be in trading, in the issuance of shares and bonds, in M&A advising or in wealth management. We want to be No.1 in all our markets'.

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