Lloyd Blankfein, chief executive of Goldman Sachs, on Wednesday criticised some of the exotic products sold by banks in the run-up to the financial crisis and called for restraint on executive pay and bonuses. At a banking conference in Frankfurt, he also repeated an earlier attack on compensation practices. The Goldman boss, who himself gained total compensation of more than $70m in 2007, said multi-year bonuses should be outlawed and senior staff should receive large parts of pay in stock, rather than cash.

This entry was posted by Gwen Robinson on Thursday, September 10th, 2009 at 5:00 and is filed under Capital markets, People. Tagged with goldman sachs, lloyd blankfein. Edit this entry.