Goldman Sachs has boosted chief executive David Solomon’s pay by more than a quarter and set up $80mn retention plans for him and president John Waldron in an effort to ensure the pair remain at the top of the bank.
The Wall Street bank, which earlier this week reported one of its best years since the 2008 financial crisis, said it would increase Solomon’s pay for 2024 by 26 per cent to $39mn, according to regulatory filings.
Solomon has fought back against internal unrest over the past couple of years after Goldman’s failed foray into consumer banking, but the board and most investors solidly backed his leadership and his decision to elevate the importance of asset and wealth management, including alternatives.
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