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25

Goldman Sachs and Morgan Stanley Cut Chiefs’ Pay

By Tony Seruga

Lloyd Blankfein, the chief executive and chairman of Goldman Sachs. CreditJohn Moore/Getty Images

Goldman Sachs and Morgan Stanley have both cut the pay packages of their chief executives after a year when Wall Street was challenged by increased regulation and market turmoil.

Goldman Sachs, the most closely followed firm on Wall Street, said on Friday that it had lowered the annual bonus of its chief executive, Lloyd C. Blankfein, for the first time since 2011, bringing his pay for the year to $23 million, $1 million less than he made in 2014…

Goldman Sachs and Morgan Stanley Cut Chiefs’ Pay

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