Goldman Sachs CEO's 2019 compensation rises 19%

[March 21, 2020]    NEW YORK (Reuters) - Goldman Sachs Group Inc <GS.N> Chief Executive David Solomon's total compensation rose by 19%, or $4 million, for 2019 compared with 2018, according to a regulatory filing released on Friday.

Goldman Sachs' Chairman and CEO David Solomon attends a session at the 50th World Economic Forum (WEF) annual meeting in Davos, Switzerland, January 21, 2020. REUTERS/Denis Balibouse/File Photo

Solomon's total compensation for 2019 was $24.7 million, up from $20.7 million in 2018, according to Goldman's proxy statement.

The disclosure comes as companies face pressure to cut payouts to investors to curb the fallout from the coronavirus outbreak.

Solomon's compensation compared to the median compensation of all other Goldman employees represented a ratio of about 178:1, according to the proxy statement.

Goldman's president, John Waldron, received total compensation of $22.3 million in 2019, up from $16.8 million in 2018, the filing showed.

Goldman for the 2019 full year reported net earnings of $8.47 billion, a decline of 19% from the prior year. The result included provisions of $1.24 billion for litigation and regulatory proceedings.

(Reporting by Elizabeth Dilts Marshall in New York and Kanishka Singh in Bengaluru; Editing by Chris Reese and Leslie Adler)

[© 2020 Thomson Reuters. All rights reserved.]

Copyright 2020 Reuters. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.  Thompson Reuters is solely responsible for this content.