Goldman Sachs' lead outside director, James Schiro, said in his first letter to shareholders accompanying the firm's proxy on today that the board is "very focused" on the reputation of the firm as he broadens his role on the board.

The proxy also confirmed that the compensation for Goldman chairman and chief executive Lloyd Blankfein totaled $21m for 2012, the most since 2008. The pay package included a $2m salary, a $5.7m bonus and $13.3m in restricted stock. Blankfein's expected 2012 pay was initially detailed in January.