The board reduced his package to $17.5 million for 2020, down from $27.5 million a year earlier. The payout fell after Solomon was required to return about $10 million to make amends for the firm’s criminal role in the looting of the Malaysian investment fund, the bank said in a filing on Tuesday.
Excluding that penalty, the board effectively kept Solomon’s pay flat for the year.
WATCH: Goldman Sachs Group Inc. CEO David Solomon has seen his annual compensation shrink by 36% following the 1MDB bribery scandal.
Market: European Open.” (Source: Bloomberg)
The decisions cap a year in which Goldman’s revenue ...
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