Goldman Sachs raised COO pay by 78% in 2021

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Goldman Sachs co-head of the Investment Banking Division Waldron speaks at the Milken Institute 21st Global Conference in Beverly Hills

– Goldman Sachs Group Inc President and Chief Operating Officer John Waldron’s total compensation for 2021 was $33 million, up nearly 78% from a year earlier, the Wall Street bank disclosed in a regulatory filing on Friday.

The compensation consisted of $1.85 million in base salary, $12.46 million in annual variable cash compensation and $18.69 million in equity-based pay, the bank said.

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. Top executives at the bank took a pay cut to settle legal costs related to the corruption scandal.

In January, the bank disclosed Chief Executive Officer David Solomon was awarded a total compensation of $35 million for 2021.

(Reporting by Niket Nishant in Bengaluru; Editing by Maju Samuel)