Gary Cohn is the last of five former Goldman Sachs executives asked to return compensation over the 1MDB scandal and is reportedly in talks with the American banking giant.
Despite Goldman Sachs declaration that it intended to reclaim $67 million from five former executives over the scandal, the bank has failed to secure Cohn’s compensation of $10 million, according to a «Bloomberg» report citing unnamed sources.
When contacted, Cohn said that he was «having very constructive conversations with Goldman Sachs» on the matter without confirming if he would proceed with repayments or how much he would repay.
«Accept Some Consequences for Things That Go Wrong»
In addition to the reclaimed pay of the aforementioned executives, another $31 million of compensation from 2020 has been surrendered by chief executive David Solomon and his three top deputies.
«It goes with the responsibility of leadership to accept some consequences for things that go wrong on your watch,» Lloyd Blankfein, ex-CEO, previously said the forfeiture.
Cohn was previously the president of Goldman Sachs for more than a decade.
