December 22, 2007 / 12:03 AM / 10 years ago

UPDATE 1-Goldman's Blankfein hits $68 million gold mine

(Recasts, adds details on Morgan Stanley bonuses)

NEW YORK, Dec 21 (Reuters) - 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 subprime mortgages.

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 Friday.

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 get bonuses.

    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. regulatory filings.

    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)

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