Former Goldman Sachs banker Gary Cohn will reportedly make donations to charity organizations in place of the bank’s attempts to seek a clawback over the 1MDB scandal.
«[Cohn] is a team player, and as a good corporate citizen, he volunteered many weeks ago to make a significant charitable contribution to Goldman Sachs-sponsored organizations and looks forward to doing so,» according to a «Bloomberg» report citing a spokesperson for the ex-Goldman executive.
The size of the donation was not disclosed.
No More Clawback
As an act of acknowledgment of their accountability as senior managers of the bank during the 1MDB-linked proceedings, Goldman Sachs said it would reclaim $174 million in compensation from current and former executives.
Cohn was amongst the group and was asked to return $10 million in compensation but had declined to do so though he previously said that he was «having very constructive conversations with Goldman Sachs».
«We are pleased that [Cohn] has chosen to support charitable organizations that are doing important work and put this matter behind us,» a spokeswoman for the bank said.
