Goldman's PR Chief Now in Top Ranks
Among the partners recently elevated at Goldman Sachs is Lucas van Praag, the firm's global head of communications. The promotion undoubtedly makes Van Praag one of the highest paid corporate spokesmen in the world, with a salary rumored to be at least in the $3 million range.
Usually partners are drawn from Goldman Sachs's leading moneymakers, says The Wall Street Journal, making van Praag a standout in the new class of partner managing directors, or "PMDs."
The New York Post reports van Praag's fortune hasn't gone unnoticed by his communications colleagues at other firms. "Spin-meisters at other investment banks fired off e-mails to their bosses - some directed as high as the CEO, according to sources - making the brass aware of Van Praag's pay package," wrote Post reporter Zachery Kouwe. He said experienced PR people on Wall Street can make up to $650,000 a year.
Separately, Goldman Sachs last week named 262 new managing directors, the second-highest rank in the firm.