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Goldman Sachs raised COO pay by 78% in 2021 -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: John Waldron (co-head, Investment Banking Division), Goldman Sachs speaks at the Milken Institute 21st Global Conference, Beverly Hills, California. May 1, 2018. REUTERS/Mike Blake

(Reuters) – Goldman Sachs Group Inc (NYSE): John Waldron, President and Chief Operating Officer of Inc, received $33 Million in total compensation for 2021, an increase of nearly 78% over a year ago, according to a Wall Street bank regulatory filing.

According to the bank, $1.85million was paid in base salary and $12.46 million annually in variable cash compensation. $18.69M in equity-based compensation was also included.

Waldron had earned $18.5 million for 2020 after his compensation was slashed by $7 million for the bank’s role in the 1MDB scandal. To settle the legal fees arising from the corruption scandal, top bank executives took a pay cut.

The bank announced that David Solomon, Chief Executive Officer of the bank, was receiving a total salary of $35 Million for 2021.

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