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Goldman Sachs CEO David Solomon gets $10 million pay cut over bank’s role in 1MDB scandal – CNBC

The pay cut for Solomon reflects prior penalties imposed on the bank and not Solomon’s own conduct, the SEC filing said.

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Goldman Sachs CEO David Solomon saw his pay slashed by just over a third for 2020 as part of a punishment for the bank’s role in the 1MDB scandal.
The bank, which saw its highest revenue in over a decade last year despite the coronavirus pandemic, has admitted to wrongdoing during its time working for a now infamous Malaysian government development fund called 1Malaysia Development Berhad, or 1MDB.
The pay cut for Solomon, which at $10 million constitutes roughly 36% of his yearly salary, reflects…

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