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Goldman execs may have pay cut over Malaysian fund scandal

February 01, 2019 - 5:28 pm

Goldman Sachs Group's board is taking steps to slash its top executives' 2018 compensation, depending upon the outcome of investigations into the investment bank's role in the ransacking of a multibillion-dollar Malaysian state investment fund.

In a filing with the Securities and Exchange Commission late Friday, Goldman said the board can reduce the size of 2018 stock-based awards granted to its senior executives if it determines that the results of the investigation into the Malaysian fund scandal would have prompted Goldman's compensation committee to reduce its top executives' stock awards.

Such a scenario could affect CEO David Solomon and Chairman and former CEO Lloyd Blankfein, who are slated to receive $15.41 million and $14.25 million in restricted stock, respectively.

Malaysia has asked that Goldman pay $7.5 billion over the scandal.

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