Gary Cohn and Jon Winkelreid, co-presidents and chief operating officers of Goldman Sachs, each received $53m (€40m) in total compensation last year, more than the chief executives at any other Wall Street bank.

Goldman chief executive Lloyd Blankfein received a total $53.4m last year, a record for a Wall Street chief executive, including a cash bonus of $27.3m, restricted shares valued at $15.7m and options valued at $10.5m, after the bank reported record results.

However, his peers at rival banks received less than Cohn or Winkelreid.

Stan O’Neal, chairman and chief executive of Merrill Lynch, was paid $48m, while John Mack, his counterpart at Morgan Stanley, received $40m in stock and options in 2006.

Lloyd Blankfein promoted Cohn and Winkelreid when he took over as chairman and chief executive of Goldman Sachs last year.

They each received $26.7m in cash, $15.3m in restricted stock and $10.2m in options, in addition to their basic salaries and other benefits, according to Goldman’s proxy statement filed with the US Securities and Exchange Commission (SEC).

Cohn and Winkelreid had both been former colleagues of Blankfein from Goldman’s fixed income, currencies and commodities business, a huge driver of the bank’s revenues.

Cohn had previously been co-head of Goldman Sachs’ global securities businesses since January 2004. He also had roles as co-head of equities since 2003 and the co-head of fixed income, currencies and commodities since September 2002.

Winkelried was formerly co-head of Goldman Sachs’ investment banking division since January 2005. From 2000 to 2005, he was co-head of fixed income, currencies and commodities.

Meanwhile, Bear Stearns has approved a bonus pool of up to $305m for senior members of staff if the US bank exceeds performance targets – the same amount it has approved for the last two years.

The five-member executive committee could share a maximum bonus of $165m between them, and another seven unnamed participants could be paid up to $140m for the last financial year, according to a US SEC filing.

The size of the bonus pool is based on the bank’s return on equity. The bankers will not receive a bonus if the targets are not met.