Goldman Pay Debate Ignites After Bonus Boost for CEO Solomon
- Investors to vote Thursday after ISS recommended rejecting pay
- Bank’s board granted 20% raise just before pandemic hit U.S.
This article is for subscribers only.
Goldman Sachs Group Inc. Chief Executive Officer David Solomon’s pay is coming under scrutiny as the bank prepares for its first virtual shareholder meeting.
Influential investor adviser Institutional Shareholder Services this month issued a surprise rebuke of Solomon’s $27.5 million pay package. It’s recommending investors vote against the bank’s compensation decisions at Thursday’s meeting after the firm slipped by several key financial metrics. The 20% raise for Goldman’s chief was the biggest for any head of a major Wall Street bank.