Goldman Sachs Group Inc. Vice Chairman Michael Sherwood was granted a bonus in shares worth almost $10 million, exceeding the $7 million awarded to Chairman and Chief Executive Officer Lloyd Blankfein, the Sunday Times in London reported.
Goldman Sachs Group Inc. , the fifth- largest U.S. bank by assets, gave its London co-Chief Executive Officer Michael Sherwood a 9-million pound ($14.3 million) stock bonus for 2010, the Sunday Times reported.
Michael Ovitz, the former Hollywood agent whose company was said to have created enemies “the way a hurricane produces raindrops,” first met Gary Cohn over lunch at Goldman Sachs Group Inc.’s headquarters in June 2009.
Bankers in London, the hub for securities firms in Europe, are bracing for lower bonuses compared with New York counterparts as earnings from the region plummet and pressure to tighten compensation mounts.
Goldman Sachs Group Inc. Chairman and Chief Executive Officer Lloyd Blankfein may consider stepping down because of fatigue from guiding the bank through the financial crisis, the New York Times reported, citing two unidentified persons who spoke with Blankfein.