While the bank was hit by industrywide slowdowns in capital markets activity, CEO David Solomon also faced his own set of issues last year.
The package includes a $2 million base salary and variable compensation of $23 million, New York-based Goldman said in a filing.
Most of Solomon's bonus— 70%, or $16.1 million, is in the form of restricted shares tied to performance metrics, while the rest is paid in cash, the bank said. Solomon's pay, while large by most any measure, is about 29% lower than what he was granted for his 2021 performance. Meanwhile, the company's full year earnings fell by 48% to $11.3 billion, thanks to sharp declines in investment banking and asset management revenue.David Solomon, Chairman & CEO of Goldman Sachs, speaking on Squawk Box at the WEF in Davos, Switzerland on Jan. 23rd, 2023.
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