Goldman Sachs CEO's pay drops 18 pct to $13.3M

AP News
Posted: Apr 12, 2013 3:07 PM

NEW YORK (AP) — Goldman Sachs Chairman and CEO Lloyd Blankfein's total compensation fell 18 percent last year to $13.3 million as the value of his stock awards fell by half.

But Blankfein's cash bonus rose 90 percent, to $5.7 million, as the bank's profits soared, according to a regulatory filing on Friday. Stock awards were valued at $5.3 million, down from the $10.7 million awarded in 2011. Blankfein's salary remained at $2 million.

Blankfein, 58, has led Goldman since 2006. Last year, he oversaw a 41 percent gain in Goldman's stock price. Profit nearly tripled from 2011, even as the bank dealt with lower levels of market activity, leading Goldman to cut jobs and expenses.

The AP's calculation counts salary, bonuses, perks and stock and options awarded to the executive during the year.