Goldman Sachs cut its CEO David Solomon's 2020 salary by $10 million to $17.5 million because of the bank's role in the 1MDB Malaysian bribery scandal, according to documents filed Tuesday. "The amounts of remuneration reflect the decision announced by the board of directors," said a securities filing that also detailed pay-cuts for COO John Waldron and CFO Stephen Scherr. Goldman Sachs pleaded guilty in October over its role in the scandal and agreed to pay nearly $3 billion to close US investigations. Former Malaysian leader Najib Razak was sentenced last year to 12 years in jail on corruption charges linked to the scandal that led to the downfall of his government. Subscribe to Mint Newsletters * Enter a valid email * Thank you for subscribing to our newsletter.

Source: Mint January 27, 2021 07:41 UTC