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.
Detailed pay-cuts for COO John Waldron and CFO Stephen Scherr have also been announced in a security filing.
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. Riza, stepson of Razak allegedly received huge sums from 1MDB, including to bankroll his Hollywood production company, which made “The Wolf of Wall Street”, starring Leonardo DiCaprio.
