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Goldman Sachs lifts CEO David Solomon's pay to $35 million

That is double the $17.5 million he received for 2020.

January 29, 2022 / 07:08 PM IST
David Solomon.

David Solomon.

 Goldman Sachs Chief Executive Officer David Solomon's total compensation for 2021 will be $35 million, the bank said on Friday.

That is double the $17.5 million he received for 2020. The board had then slashed $10 million from his $27.5 million pay to settle legal costs related to the bank's role in the 1Malaysia Development Bhd corruption scandal.

Solomon's total pay for 2021 includes an annual base salary of $2 million and a variable compensation of $33 million, 70% of which is in the form of goal-based stock compensation or restricted stock units.

ALSO READ: Goldman Sachs Q4 profits fall as compensation costs soar