Lloyd Blankefein, President and CEO of Goldman Sachs Bank (NYSE:GS), the most hated bank in the world, received a salary package last year totaling $12.4 million, down 35% from 2010 due to the drop of shares and lower profit of the bank, writes Bloomberg. Lloyd Blankefein’s income include a cash bonus of $3 million, company’s shares worth $7 million, an annual salary of $2 million and nearly $500,000 in benefits, according to a statement issued Friday by the New York bank.
Goldman Sachs, the fifth largest bank in the U.S. by the value of assets, has recorded a 47% profit drop last year. The bank’s shares on the stock market fell by 46% in 2011, and the number of employees was reduced by 2,400.
For comparison, the chief executive of Morgan Stanley, James Gorman, received a salary of $10.5 million last year, Vikram Pandit of Citigroup received $15 million and JP Morgan CEO, Jamie Dimon, received $23 million.
The highest pay received by Blankfein at Goldman Sachs was in 2007, $68 million.
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