Goldman house rejects shareholder final on compensate

NEW YORK Mon March 1, 2010 10:27am EST Related News Citi, BofA compensate promissory note heads some-more than CEOsFri, February twenty-six 2010WRAPUP 1-Citi, BofA compensate promissory note heads some-more than CEOsFri, February twenty-six 2010WRAPUP 1-Citi, BofA compensate promissory note heads some-more than CEOsFri, February twenty-six 2010Wall Street bonuses jumped seventeen percent last yearTue, February twenty-three 2010Obama doesn"t "begrudge" Dimon, Blankfein over payWed, February 10 2010 Stocks & &

Flags fly outward of the Goldman Sachs domicile construction in the monetary district of New York Jan 21, 2010.

Credit: Reuters/Jessica Rinaldi

NEW YORK (Reuters) - Goldman Sachs Group Inc"s (GS.N) house has deserted final from shareholders that the organisation examine new remuneration awards, replenish extreme remuneration and remodel compensate practices.

Wall Street"s widespread bank, criticized for profitable billions of dollars in bonuses shortly after the taxpayer bailout of the promissory note industry, reported the board"s preference in a regulatory filing on Monday.

Goldman reported the shareholder final last year and pronounced at the time that the house was deliberation them. The organisation did not name the shareholders who done the demands.

Goldman could not be rught away reached for comment.

Goldman reported a jot down distinction in 2009 and was on gait to compensate some-more than $20 billion in remuneration streamer in to the fourth quarter. But confronting open ire, it capped remuneration losses at $16.2 billion for the year.

The organisation additionally paid the tip thirty management team all-stock bonuses rather than cash.

Even though Goldman outperformed the greatest rivals in 2009, Chief Executive Lloyd Blankfein perceived a batch reward valued at $8.9 million, rounded off half of what JPMorgan Chase Co (JPM.N) arch Jamie Dimon received.

(Reporting by Steve Eder; modifying by John Wallace)