The Wall Street Journal: Goldman cuts CEO Solomon’s pay by $10 million over 1MDB scandal

United States

Goldman Sachs Group Inc. slashed Chief Executive David Solomon’s 2020 pay by 36%, punishment for the bank’s admission last year that it broke U.S. laws in its dealings with an investment fund at the heart of a global corruption ring.

Solomon received a $ 17.5 million compensation package for 2020, down from the $ 27.5 million he got for 2019, according to a securities filing on Tuesday.