David Solomon, the chairman and chief executive of Goldman Sachs, has taken a $10 million pay cut.
His total compensation for 2020 came to $17.5 million, down from $27.5 million in 2019. His base salary remained unchanged at $2 million.
Two other senior employees also took significant pay cuts.
John Waldron, president and chief operating officer, tool a $6 million pay cut from $24.5 million to $18.5 million. While Stephen Scherr, chief financial officer, saw his pay drop from $22.5 million to $15.5 million.
The pay cuts are a result of the bank’s involvement in the 1Malaysia Development Berhad (1MD...
