Goldman Sachs paid CEO Blankfein $19.9 million

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Associated Press

Posted on April 4, 2014 at 11:01 AM

Updated Friday, Apr 4 at 11:01 AM

NEW YORK (AP) — Goldman Sachs Chairman and CEO Lloyd Blankfein's total compensation rose by almost 50 percent to $19.9 million last year, boosted by the value of his stock awards.

The value of Blankfein's stock awards more than doubled from $5.3 million to $11.3 million. Goldman's stock rose 39 percent in 2013 as the bank's profits climbed. The executive's cash bonus also rose, climbing 11 percent to $6.3 million.

Blankfein has been chairman and CEO since 2006, and has spent more than 30 years at Goldman. His base salary remained unchanged at $2 million from a year earlier. The bank's earnings rose about 9 percent last year as its investment banking revenues improved.

The AP's executive compensation calculation counts salary, bonuses, perks and stock and options awarded to the executive during the year.

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