William Manning, the chairman and founder of Fairport, N.Y.-based investment house Manning & Napier, was rewarded with enough stocks and other compensation to total $360 million in fiscal 2011. Paul Hodgson, who reported this largesse, said to file this “in the ‘you’re joking, surely’ series.” Manning had just completed organizing a group of privately...
Press reports over the past a few weeks repeated that market-making banker Goldman Sachs had reduced the stock bonus of their CEO, as reported in CEO Payday two days ago. Consider this an immediate retraction. The previous reports were simply a smokescreen according to a Wall Street Journal analysis reported today based on Goldman Sachs SEC...
The chief executive officer of Goldman Sachs, the too-big-to-fail bank in the middle of the 2008 world financial crises, saw his stock bonus cut to $7 million in 2011, down from $12.6 million the year before. The investment bank saw a 58% profit drop during the final quarter of 2011. Fortunately for Lloyd Blankfein...
Called by The Wall Street Journal “one of Wall Street’s most prominent dealmakers,” Steven Schwarzman is worth about $4.7 billion according to Forbes, which ranks him as the 66th richest American. Despite national publications which already write about his vast wealth, the CEO of the Blackstone Group refuses to detail his holdings for the...
Jan. 12, 2012 – Two of the top executives of now-iconic bank Goldman Sachs left in what was called “shocking,” “highly unusual” and part of a “surprising shake-up,” by Liz Rappaport writing in the Wall Street Journal. David B. Heller and Edward K. Eisler had been fast-tracked to the 32-member management committee, from where...
Nov. 28, 2011 – According to two compensation surveys, bonuses at “big Wall Street firms could see annual compensation sink” from 27% to 40% less than the previous year, report Brett Philbin and Melissa Korn. “An investment-grade bond trader who is a managing director at a top securities firm is likely to make $1.7-$1.8...
