General
Goldman Sachs chief executive David Solomon pays $12.9m price for1MDB scandal
Goldman Sachs chief executive David Solomon’s annual pay fell by $12.9 million, or 36 per cent, in 2020, according to regulatory disclosures filed on Tuesday, reflecting the bank’s role in Malaysia’s 1MDB scandal.
Key points:
- David Solomon’s pay would have remained unchanged without the 1MDB penalty
- Goldman Sachs paid $2.07 billion in bribes to the 1MDB investment fund, set up in 2009 under Malaysian prime minister Najib Razak
- Goldman Sachs’ chief financial officer and chief operating officer have also had their pay cut
Mr Solomon would receive $22.6 million for his work during the year, compared with $35.5 million the year before, the bank said.
Goldman previously announced it would reduce Mr Solomon’s pay, along with that of chief financial…
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