Goldman Wins Shareholder Vote on $80 Million Executive Bonuses

Goldman Sachs Group Inc.’s executive pay proposal won majority support from shareholders despite criticism the bonuses were excessive, easing concerns over the firm’s push to retain top talent as it competes with buyout firms.

The investment bank, which argued a pair of $80 million retention bonuses for its chief executive and president were justified given the war for talent with buyout firms, said it won 66% of the vote in a non-binding ballot at its annual general meeting in Dallas on Wednesday.

The pay proposal triggered controversy in particular for the size of the retention awards and because they ...