Pay revolt looms at Goldman Sachs

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."