Pay revolt looms at Goldman Sachs
Nikhil Kumar is The Independent's New York correspondent. He was formerly assistant editor on the foreign desk and has also done a variety of jobs on the city desk, where he wrote about markets, commodities and other business and economics topics.
Wednesday 15 May 2013
A leading shareholder advisory firm in the US has called on Goldman Sachs investors to vote against the bank's executive compensation proposals because the bank has failed to "link pay with performance".
Ahead of the meeting on 23 May, Glass Lewis said shareholders should also vote against James Johnson, the director who chairs the compensation committee of the bank's board.
Glass Lewis said: "This is the second year in a row the company has paid more than its peers while performing somewhat worse."
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