Goldman Sachs CEO Solomon's annual pay drops 36% on 1MDB involvement


The bank previously announced it would reduce Solomon's pay, along with that of Chief Financial Officer Stephen Scherr and Chief Operating Officer John Waldron, in light of the findings of investigations into the bank's role in Malaysia's 1MDB corruption scandal.

NEW YORK: Goldman Sachs Chief Executive David Solomon's annual pay fell by $10 million, or 36%, in 2020, according to regulatory disclosures filed on Tuesday.

Solomon will receive $17.5 million for his work during the year, compared with $27.5 million the year before, the bank said.

The bank previously announced it would reduce Solomon's pay, along with that of Chief Financial Officer Stephen Scherr and Chief Operating Officer John Waldron, in light of the findings of investigations into the bank's role in Malaysia's 1MDB corruption scandal.

Waldron will receive $18.5 million for his work last year, down 24%, or $6 million, from 2019.

Scherr will be paid $15.5 million, down 31%, or $7 million, from the previous year.

- Reuters
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Goldman Sachs , 1MDB , Malaysia , scandal , Solomon , Waldron ,

   

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