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NEW YORK – Goldman Sachs Group could reduce executive compensation for 2018 because of the role played by former bankers in the corruption scandal that engulfed a Malaysian public fund.
Goldman said in a securities depository Friday that his board had approved a forfeiture clause allowing the reduction of stock awards to senior executives as of December 31 if an investigation into the 1Malaysia Development Berhad fund, or 1MDB, resulted in fines. or mbadive penalties. that affect the company's income.
The cuts would affect current CEO David Solomon and his predecessor, Lloyd Blankfein, who left Goldman in December, sources said.
Solomon has received a total annual compensation of $ 23 million for 2018, while Blankfein has been awarded $ 20.5 million, depending on the record. These amounts could be reduced based on the results of the 1MDB survey.
In November, the US Department of Justice announced the indictment of a former Goldman banker and the guilty plea of another banker for plotting to launder money diverted from 1MDB.
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