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TRENDING TAGS
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- Sarah ten Siethoff is New Associate Director of SEC Investment Management Rulemaking Office
- Catherine Keating Appointed CEO of BNY Mellon Wealth Management
- Credit Suisse to Pay $47Mn to Resolve DOJ Asia Probe
- SEC Chair Clayton Goes 'Hat in Hand' Before Congress on 2019 Budget Request
- SEC's Opening Remarks to the Elder Justice Coordinating Council
- Massachusetts Jury Convicts CA Attorney of Securities Fraud
- Deutsche Bank Says 3 Senior Investment Bankers to Leave Firm
- World’s Biggest Hedge Fund Reportedly ‘Bearish On Financial Assets’
- SEC Fines Constant Contact, Popular Email Marketer, for Overstating Subscriber Numbers
- SocGen Agrees to Pay $1.3 Billion to End Libya, Libor Probes
- Cryptocurrency Exchange Bitfinex Briefly Halts Trading After Cyber Attack
- SEC Names Valerie Szczepanik Senior Advisor for Digital Assets and Innovation
- SEC Modernizes Delivery of Fund Reports, Seeks Public Feedback on Improving Fund Disclosure
- NYSE Says SEC Plan to Limit Exchange Rebates Would Hurt Investors
- Deutsche Bank faces another challenge with Fed stress test
- Former JPMorgan Broker Files racial discrimination suit against company
- $3.3Mn Winning Bid for Lunch with Warren Buffett
- Julie Erhardt is SEC's New Acting Chief Risk Officer
- Chyhe Becker is SEC's New Acting Chief Economist, Acting Director of Economic and Risk Analysis Division
- Getting a Handle on Virtual Currencies - FINRA
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Goldman CEO Blankfein Regrets Being #1 On This List
Goldman Sachs CEO Lloyd Blankfein has had an especially rough August [C-I: Haven't we all], but he never imagined being in this most undesirable position. Based on regulatory filings, Blankfein lost about $52mn of his personal wealth in just the past 2 weeks.
That feat enabled Lloyd Blankfein to beat out the CEOs of Goldman's direct competitors - Bank of America, Citigroup, JPMorgan, Morgan Stanley. That's not to say the runners-up aren't hurting, too. All told, those 5 CEOs saw their shareholdings fall a collective $94 million (on paper) since July 29. Much of that drop - $40mn - came in yesterday's market crash. The S&P 500 Index is down 18% in August, and Bank of America has been hit the hardest, losing nearly a third of its market value.
Mr. Blankfein owns 2.1 million shares of Goldman that, as of yesterday's close, were worth $232 million. That's a drop of 18%, or $52 million from the start of the month.
By comparison, JPMorgan CEO Jamie Dimon is in 2nd place with his 5.1 million shares losing about $31mn - a 15% unrealized loss.
Rounding out the list: Morgan Stanley's James Gorman lost $5.4mn, Citigroup's Vikram Pandit lost $4.6mn, and BofA's Brian Moynihan lost $1.4mn. [C-I: He would have lost more, but he's the new guy on the block and hasn't received as many BofA shares. Lucky him.] [Bloomberg, 8/11/11]

