Goldman Sachs operating chief’s total compensation topped $30 million in 2021

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Goldman Sachs Group Inc. GS, -0.83% president and chief operating officer John Waldron earned total compensation of $33 million for his work in 2021, up from $18.5 million in 2020, according to a proxy statement filed by the bank on Friday. The $33 million includes $1.85 million in salary, $12.46 million in variable cash compensation and $18.69 million in restricted stock units (RSUs). In 2020, Waldron’s pay was reduced by $7 million to $18.5 million from $25.5 million as part of the board’s determination stemming from an investigation into Goldman’s role in raising $6.5 billion bond sales for the 1Malaysia Development Berhad (1MDB) state fund. CEO David Solomon received total compensation for his work in 2021 of $35 million, up from $17.5 million in 2020, as previously disclosed. Shares of Goldman Sachs are down 9.7% so far in 2022, compared to a drop of 6.4% by the S&P 500.

This article was originally published by Marketwatch.com. Read the original article here.

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