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Article: Big brokerages slash CEO pay. (At the Top).(Goldman Sachs and Morgan Stanley cut chief executive officer salaries)(Brief Article)(Statistical Data Included)
- Article from:
- Research
- Article date:
- April 1, 2002
CopyrightCOPYRIGHT 2002 Summit Business Media. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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FOR THE HEADS of Goldman Sachs and Morgan Stanley, the command chair isn't quite so well-padded any more.
Both brokerage firms cut the compensation packages for their chief executive officers last year, symbolically forcing the generals to suffer along with the enlisted men.
Goldman's Hank Paulson took a 16 percent pay cut in 2001, the second time in a row his pay envelope shrank in 2000, the firm knocked 12 percent off his compensation.
Likewise, over at Morgan Stanley, Philip Purcell saw his ...
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