Goldman CEO: It's Not The Money, Stupid

Lloyd Fonzie Blankfein

Goldman Sachs' Lloyd Blankfein, whose bonus for last year almost doubled, said he would stay as CEO even if the company cut his pay.

'Not today, no', Blankfein said Friday in an interview on CNBC, responding to a question about whether he would leave if the New York-based firm paid him less.

'I’ve been in this firm for 30 years', Blankfein said in the interview at the World Economic Forum in Davos. 'Most of my interest in Goldman Sachs comes from trading in my partnership interest for stock. So I’m more of a shareholder than an employee'.

In the meantime, The Daily Telegraph reports that Blankfein has defended the investment bank’s plans to defer bonuses to benefit from a reduction in the top rate of income tax to 45p.

'People organise their affairs to take advantage of the tax regime', he told BBC Radio 4's Today programme from Davos. 'That’s not bad behaviour... We have a saying in the US which is that it is not even a patriotic duty to maximise your tax liability'.

Blankfein Says He Wouldn’t Leave Goldman Sachs If Pay Were Cut

Goldman chief Lloyd Blankfein defends plan to defer bonus as 'sensible'

 

 

Register for Financial Markets News Alerts