Goldman Sachs Cuts CEO's Pay By $10 Mln Over 1MDB Scandal

Goldman Sachs Group Inc. cut Chairman and Chief Executive Officer David Solomon's fiscal 2020 pay by $10 million as a penalty for the bank's role in 1Malaysia Development Berhad or 1MDB bribery scandal. In a filing with the U.S. Securities and Exchange Commission, the bank said it has also cut payments of President and Chief Operating Officer John Waldron, and Chief Financial Officer Stephen Scher