Lloyd C. Blankfein, the Chairman and Chief Executive Officer of the Goldman Sachs Group Inc. (GS), has received twice the compensation for 2010 than he received in 2009. The proxy statement of the firm revealed that he has been given a pay of US$19 million, which consists of cash payment of US$5.4 million, restricted stock worth US$12.6mn, salary of US$600,000 and various benefits of approximately US$464,000. Blankfein received a total of US$9.8mn in 2009.

Through their investments in private equity as well as hedge funds, which are controlled by the bank, Blankfein along with 8 deputies gained US$125 million in 2010. He paid a total of US$27.2 million, comprising profits and return on capital, which is much more than the compensation given to him.

GS, which is the US' fifth largest bank, outpaced its competitors through less than 0.5% decrease in its shares in 2010. Bank of America Corp. (BAC) and Morgan Stanley (MS) were amongst its primary competitors.

The bank also awarded salary of US$600,000 to J. Michael Evans, its Vice Chairmen, David A. Viniar, its Chief Financial Officer, Gary D. Cohn, its President and Chief Operating Officer as well as John S. Weinberg for last year.

In 2011, salary of Blankfein will be raised to US$2 million. Cohn, Viniar, Evans and Weinberg will also get a salary rise in 2011, which their pay reaching US$1.85 million.