Goldman Sachs to Recoup, Cut Executives’ Pay After Costly 1MDB Fines - The Wall Street Journal

is seizing or withholding $174 million from current and former executives after agreeing to a costly settlement to resolve multiple government investigations into its role in a Malaysian bribery scandal.

The Wall Street firm will cut this year’s pay to Chief Executive David Solomon and two top lieutenants, and claw back past bonuses paid to ex-CEO Lloyd Blankfein and others after it admitted on Thursday to compliance lapses in its dealings with a corrupt Malaysian investment fund.