Goldman will claw back $174 million in pay to past and present executives, a dramatic move that generated the most headlines related to the settlement. “Dollar for dollar,” he told DealBook, personal punishment is bound to have an impact. Critics say it hasn’t, in part because many clawback policies are narrowly written and don’t cover all aspects of pay. Voluntary adoption of expansive clawbacks are part of Corporate America’s movement to become responsible citizens, he told DealBook. Goldman’s action “will put wind in the sails of the emerging trend,” Mr. Ocker predicted.

Source: New York Times October 23, 2020 12:11 UTC