MANAMA The green-fronted Kuwait Finance House Auto mall on Bahrain's main showroom highway is a bank that sells cars.
NEW YORK Nov 11 Goldman Sachs (GS.N) Chief Executive Lloyd Blankfein may earn a pay package of up to $75 million in cash and stock this year, the New York Post said on Sunday, citing sources inside the firm.
The compensation may come as his peers at other Wall Street firms could see their bonuses shrink, the paper noted. Indeed, Swiss financial giant UBS reportedly is set to limit bonuses for its investment bankers and traders.
Blankfein's compensation would be about $20 million more than he got last year, and comes as Goldman appears to have weathered the credit market problems that have rocked rivals Merrill Lynch MER.N and Bear Stearns BSC.N, the Post said.
Bonuses for Goldman's co-presidents, Gary Cohn and Jon Winkelreid, could also top $70 million each, up from about $50 million each last year, the paper said.
Goldman's bonuses were calculated last month at the height of the subprime mortgage meltdown, but traders and bankers will not receive word until mid-December, the Post said, citing insiders.
By contrast, the securities arm of Swiss financial giant UBS AG has told investment bankers and traders on Wall Street and elsewhere that their 2007 cash pay will top out at $750,000, according to a report on the Wall Street Journal Web Site.
What's more, a much greater portion of the total compensations at UBS is expected to come from stock than in other years. There was previously no limit on the cash amount they could get paid, the paper said.
(Reporting by Franklin Paul)
((Editing by Richard Chang; Franklin.Paul@reuters.com; +1 646 223 6195; Reuters Messaging: Franklin.Paul.firstname.lastname@example.org)) Keywords: GOLDMANSACHS BONUS/
(C) Reuters 2007. All rights reserved. Republication or redistribution ofReuters content, including by caching, framing or similar means, is expresslyprohibited without the prior written consent of Reuters. Reuters and the Reuterssphere logo are registered trademarks and trademarks of the Reuters group ofcompanies around the world.nN11420780