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Monday, March 22, 2010

The Perks of Being a Goldman Kid

Working for Goldman Sachs remains a well-paid family affair.
Last month, the blogosphere was atwitter with reports that Jonathan Blankfein, the son of Goldman chief Lloyd C. Blankfein, would be joining the firm when he graduates from Harvard this spring and that older son Alex was working at the company in a “capacity that isn’t clear.”
Gawker said that its item was based on a tipster, but the preliminary proxy that Goldman filed on Friday afternoon seems to confirm the tip.
Under the section titled “Certain Relationships and Other Transactions,” the filing notes that “a child” of Mr. Blankfein — the filing does not give any other details, including the child’s name or a role at the company — was a nonexecutive employee last year who made $155,000.
According to the filing, two other Goldman executives, general counsel Esta E. Stecher and chief financial officer David A. Viniar, also have children who work at Goldman, though as with Mr. Blankfein, the filing did not give the children’s names or their respective roles at the company.
But the filing did note that Ms. Stecher’s son made $200,000 last year, and that Mr. Viniar’s stepdaughter made $225,000 last year. That’s a substantial increase from 2008 when the two children made $124,000 and $150,000 respectively according to Goldman’s 2009 proxy.
– Michelle Leder LinkHere


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