I've never met Goldman Sachs Group's (NYSE: GS) CEO, Lloyd Blankfein. But his rise within Goldman from being a lowly gold trader to bossing around investment bankers who shunned him has a satisfying story arc. And this year's bonus of about $70 million looks to be more than 30% higher than last year's lowly $54 million.
But -- like last year -- he'll probably continue to suffer by comparison with some of the hedge fund managers within Goldman who report to him. Not to mention the measly pay he received relative to his predecessor -- Hank Paulson.
But I don't really feel sorry for Blankfein. After all, Goldman seems to have emerged relatively unscathed by all the subprime gloom that has slowed things down on Wall Street this year compared to last. I think it has something to do with a decision to short mortgage backed securities this summer.
And it doesn't lower Blankfein in my eyes that he awarded my brother, William D. Cohan's book ,The Last Tycoons, the Financial Times & Goldman Sachs Business Book of the Year Award 2007.
Be sure to check out more Money Winners of 2007.
Peter Cohan is President of Peter S. Cohan & Associates. He also teaches management at Babson College and edits The Cohan Letter. He has no financial interest in Goldman Sachs.
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Reader Comments (Page 1 of 1)
12-14-2007 @ 10:43AM
MARIEALFIERI said...
HELLO I FIND LLOYD BLANKFEIN FACE AMAZING,WHAT IS INSIDE SHOWS IN EVERY PORE OF HIS FACE AND MOST REMARKABLE FROM THE EYES.I NEVER DO THIS SORT OF THING BUT IT JUMPED OUT AT ME ,HIS FACE IS THE MOST INTERESTING I HAVE SEEN ON ANY POWERHOUSE PERSON POLITICAL OR BUSINESS IN MANY YEARS.MARIE