Blankfein's $16m bonus

Goldman Sachs gave chairman and chief executive Lloyd Blankfein a US$12.6 million ($16.3 million) stock bonus for last year, a rise from US$9 million in restricted stock a year earlier.

Blankfein, 56, received 78,111 shares on January 26, according to a filing with the United States Securities and Exchange Commission (SEC).

At Saturday's closing price of US$161.31, the shares would be valued at US$12.6 million. The New York-based company also raised Blankfein's base salary to US$2 million this year from US$600,000.

Goldman Sachs, the fifth-largest US bank by assets, reported 2010 earnings dropped 38 per cent from a record in 2009 as revenue from trading stocks and bonds fell from an all-time high. The firm set aside 39 per cent of revenue to pay employees last year, up from 36 per cent in 2009 which was its lowest ratio.

Chief financial officer David Viniar, president Gary Cohn, and vice-chairmen Michael Evans and John Weinberg also got 78,111 restricted shares each, and salary raises to US$1.85 million from US$600,000, according to separate filings.

Banks have been raising base salaries after moves by regulators such as the SEC and the Federal Reserve to limit bonuses and other practices considered risky.

The filings don't include any cash bonuses. Blankfein didn't receive cash bonuses for 2009 and 2008, after getting about US$27 million in cash bonuses for each of 2007 and 2006.

- BLOOMBERG