Blankfein: David Solomon and Case

blankfein: In Blankfein's case, the bonus began at 7m and nearly doubled, according to US securities documents, according to The Guardian. Beyond the bonuses, Goldman also said it could claw back compensation from the current chief executive, David Solomon, and two other current senior executives, president John Waldron and chief financial officer Stephen Scherr. The prestigious investment bank has announced that it could withhold millions of dollars in bonuses to former chief executive Lloyd Blankfein and two other retired executives depending on the outcome of ongoing inquiries into the Malaysian fund. 1MDB scandal explained a tale of Malaysia's missing billions Read more The bonuses were first approved in 2011 and the annual payouts depend on the firm's performance over the ensuing eight years. Solomon was paid 23m last year, including 15.4m in stock options. The board of directors wants shareholders to know it is not blind to the gravity of the situation, said one of the sources, adding that the message was not meant to be an admission of wrongdoing. The announcement on bonuses was intended as a message for shareholders who are upset at how the corruption scandal has tarred the bank's image at a time when it is working to build up its consumer banking business through the online platform Marcus, according to two people familiar with the matter. (news.financializer.com). As reported in the news.