By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
AmextaFinanceAmextaFinance
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Notification Show More
Aa
AmextaFinanceAmextaFinance
Aa
  • Banking
  • Credit Cards
  • Loans
  • Dept Management
  • Mortgage
  • Markets
  • Investing
  • Small Business
  • Videos
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Follow US
AmextaFinance > News > Investor support for Goldman bosses’ pay sinks to 9-year low
News

Investor support for Goldman bosses’ pay sinks to 9-year low

News Room
Last updated: 2025/04/23 at 11:49 AM
By News Room
Share
3 Min Read
SHARE

Unlock the Editor’s Digest for free

Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.

Goldman Sachs received the lowest level of shareholder support for its executives’ pay packages in almost a decade, following criticism over bonuses for chief executive David Solomon and president John Waldron worth $80mn each. 

In a so-called say on pay vote at Goldman’s annual general meeting on Wednesday, 66 per cent of votes backed the investment bank’s pay plans, the lowest level of support since 2016. 

The vote also marks the lowest support for a big US bank’s pay proposals since 2022, when JPMorgan Chase shareholders rebelled over chief executive Jamie Dimon’s remuneration package.

That year, only one-third of JPMorgan shareholders supported Dimon’s pay, which included a special award worth about $50mn at the time. JPMorgan subsequently said it would not give its CEO special awards in future. 

While the Goldman vote is nonbinding, the muted level of support reflects investor unease with the bank’s plans to pay its top two executives retention bonuses more akin to a private capital group.

Proxy advisers Glass Lewis and Institutional Shareholder Services had recommended that shareholders vote against the pay plans. 

Goldman, whose biggest shareholders include Vanguard, BlackRock and State Street, awarded the five-year retention bonuses to Solomon and Waldron in January. 

The awards for Solomon and Waldron, which came on top of their annual pay of $39mn and $38mn respectively, have added to speculation that Waldron is most likely to succeed Solomon as chief executive. 

Glass Lewis criticised the bank for not tying the awards to performance metrics. Goldman had defended the awards, saying they were needed to retain its top talent and that paying them 100 per cent in stock meant they were aligned with shareholders’ interests.

Norway’s sovereign wealth fund, Goldman’s 15th largest shareholder, said it had voted against the pay packages.

“The [company’s] board should provide transparency on total remuneration to avoid unacceptable outcomes,” Norges Bank Investment Management said. “The board should ensure that all benefits have a clear business rationale.”

Calstrs, a large Californian pension fund, also said it voted against Goldman’s pay.

Read the full article here

News Room April 23, 2025 April 23, 2025
Share this Article
Facebook Twitter Copy Link Print
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Finance Weekly Newsletter

Join now for the latest news, tips, and analysis about personal finance, credit cards, dept management, and many more from our experts.
Join Now
Opec+ to boost oil output for third consecutive month

Stay informed with free updatesSimply sign up to the Oil myFT Digest…

Turkey detains five mayors in latest crackdown on opposition

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects…

Entire Gaza population at risk of famine, says UN

Unlock the White House Watch newsletter for freeYour guide to what Trump’s…

The court of King Donald

Unlock the White House Watch newsletter for freeYour guide to what Trump’s…

Japan faces big decisions on tackling bond market volatility

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects…

- Advertisement -
Ad imageAd image

You Might Also Like

News

Opec+ to boost oil output for third consecutive month

By News Room
News

Turkey detains five mayors in latest crackdown on opposition

By News Room
News

Entire Gaza population at risk of famine, says UN

By News Room
News

The court of King Donald

By News Room
News

Japan faces big decisions on tackling bond market volatility

By News Room
News

Chinese students shaken by US visa crackdown look for Plan B

By News Room
News

US warns Brazilian judge over order to block user on rightwing video platform

By News Room
News

Hegseth says Chinese military action against Taiwan ‘could be imminent’

By News Room
Facebook Twitter Pinterest Youtube Instagram
Company
  • Privacy Policy
  • Terms & Conditions
  • Press Release
  • Contact
  • Advertisement
More Info
  • Newsletter
  • Market Data
  • Credit Cards
  • Videos

Sign Up For Free

Subscribe to our newsletter and don't miss out on our programs, webinars and trainings.

I have read and agree to the terms & conditions
Join Community

2023 © Indepta.com. All Rights Reserved.

YOUR EMAIL HAS BEEN CONFIRMED.
THANK YOU!

Welcome Back!

Sign in to your account

Lost your password?