Chicago Tribune – The chief executive of Goldman Sachs Group Inc. called for new standards on how Wall Street executives are compensated and new regulation of large hedge funds and private-equity funds.

Lloyd Blankfein said lessons from the financial crisis include the need to "apply basic standards to how we compensate people in our industry."

He suggested a handful of guidelines, including only junior employees being paid mostly in cash and that the percentage of pay awarded as company stock increase significantly along with a worker’s total compensation.

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Wall Street Journal Blogs – Wasim Rehman, the 28-year-old head of risk controls at the hedge fund manager Marshall Wace, has resigned from the partnership and plans to retire from the investment industry.

In a statement to the market this morning, Marshall Wace said Rehman would continue as a consultant to the company, initially full-time as chairman of the firm’s quantitative oversight committee, but then becoming part-time and “thereby fulfilling his desire to pursue other opportunities outside of the industry.”

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