(Recasts, adds details on Morgan Stanley bonuses)
NEW YORK Dec 21 Goldman Sachs Group Inc's
(GS.N) Chief Executive Lloyd Blankfein received a $67.9 million
bonus for 2007, while rival Wall Street CEOs either lost their
jobs or did not get a bonus after losing billions of dollars on
Goldman -- the world's largest securities firm by market
value -- avoided a subprime meltdown and capped its fiscal year
with record financial results. Blankfein received $41.1 million
of restricted shares and options, as well as $26.8 million in
cash, for keeping the company on track, Goldman disclosed on
Some of Blankfein's peers did not even come close.
Stan O'Neal, one of Wall Street's best-paid CEOs last year,
lost his job at Merrill Lynch & Co Inc MER.N after the
company posted a $2.3 billion loss in the third quarter.
Morgan Stanley (MS.N) CEO John Mack and Bear Stearns Co Inc
BSC.N CEO Jimmy Cayne have kept their jobs after posting
large subprime mortgage-related losses, but said they would not
But Mack's top lieutenants, co-presidents Walid Chammah and
James Gorman, received a combined $17.9 million in restricted
stock, the company said on Friday. Morgan Stanley, which
stunned Wall Street with $9.4 billion of losses on subprime
mortgages and other assets, paid Chammah $9.44 million and
Gorman $8.45 million in restricted stock, according to U.S.
Mack said he would forego his bonus this year after
receiving a $37 million compensation package last year.
Chammah received about 174,000 shares of restricted stock
and Gorman got 155,380 shares. Morgan Stanley shares closed up
5.8 percent on Friday at $54.37.
(Reporting by Dan Wilchins; Additional reporting by Tim
McLaughlin; Editing by Andre Grenon)