Goldman Sachs CEO joins Apple’s Tim Cook as latest industry CEO hit with pay cut.
The investment bank’s board reduced Solomon’s salary to $25 million in 2022 from $35 million in 2021 based on Goldman Sachs’ performance assessment framework when compared with the firm’s performance in 2021.
Woman looks at Marcus, a new savings and loans app recently launched by Goldman Sachs in New York, Jan. 10, 2020. Goldman's moves into consumer lending and transaction banking were "head scratchers," said Kush Goel, senior research analyst at asset manager Neuberger Berman, which owns the bank's stock. Instead, it should have followed rival Morgan Stanley, which earns a steady stream of income from wealth-management fees, he said.
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