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Stories of Interest
- This Family Bet It All on Bitcoin
- Clearinghouses Pass CFTC Liquidity Stress Tests
- President Trump Admits He’s Trying to Kill Obamacare. That’s Illegal.
- Trump Plunges Down List of ‘America’s Richest’
- Is Trump’s “Foreclosure King” in Over His Head?
- FBI Arrests NCAA Basketball Coaches and Adidas Rep in Bribery Probe Involving Recruitment
- Equifax CEO Steps Down Amid Hacking Scandal
- Litigation Costs to Rub Salt in RBS Investor Wounds
- RIAs Poised to Land Wirehouse Recruits - Dan Jamieson
- Citibank and U.K. Affiliate to Pay $550K Penalty for Swap Data Reporting Violations - CFTC
- AIG to Restructure into 3 New Units, Marking CEO's First Big Move
- Accounting Firm Deloitte Says It Suffered Cyberattack (subsc reqd)
- Upcoming FINRA Board Meeting and FINRA360 Update
- Elizabeth Warren Lifts Hold on Trump DOJ Antitrust Nominee
- Bigger Mergers Narrow Indy Reps' Options, Alter IBD Channel - Dan Jamieson
- Dentons to Merge with U.K.'s Murray & Spens
- BigLaw Hogan Lovells Announces Hundreds of Buyouts, Layoffs - Almost 500 Affected
- Faith-Based Advisor Censured for Selling Class A Shares to Clergy
- After FINRA Bar, CFP Board Suspends Texas Advisor
- iCapital Network to Acquire U.S. Private Equity Access Fund Platform from Deutsche Bank
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NEWSLETTERS & ALERTS
Goldman Sachs CEO Blankfein Took a Small Haircut in Salary
[Photo: by Paul Elledge / Wikimedia Commons]
In his 11th year as chief executive of Goldman Sachs, Lloyd Blankfein took a $1 million (4%) cut in compensation, earning $22 million for 2016. His compensation reflects a new pay structure, in which equity awards are tied to the firm’s performance. As a result, Blankfein and Citi’s Michael Corbat were the only big bank chief executives to see a pay cut for 2016.
While Goldman’s shares jumped by 34% - largely due to the Trump bump – Goldman reported a 9% drop in revenues for 2016, and its return on equity (ROI) of 9.4% was below the figure that analysts believe is needed to cover a bank's cost of capital.