The fallout for Goldman Sachs from a scandal tied to a Malaysian investment fund could mean lower pay for several senior executives at the Wall Street bank, including the chief executive, David Solomon, and his predecessor, Lloyd Blankfein.
The bank’s board, in approving year-end compensation for Mr. Solomon and Mr. Blankfein, adopted a provision giving it the ability to claw back, or reduce some of that pay package, depending on the outcome of a federal investigation into the fraud at the 1Malaysia Development Berhad fund, known as 1MDB.
The 1MDB investigation represents one of the most significant scandals to hit Goldman in years, which has taken a reputational hit in Malaysia and elsewhere in Asia. As the American authorities continue to build a case, prosecutors in Malaysia have already accused Goldman, which raised money for the billion fund, of enriching itself at the expense of the Malaysian public.
The decision by bank’s board to potentially claw back compensation, which was disclosed in a regulatory filing on Friday, reveals a degree of uncertainty within Goldman as to how the criminal investigation will shake out. The new provision is more specific than an existing rule that allows the board to claw back compensation from executives.
The bank is looking at paying several billion dollars in fines and restitution. Toward the end of last year, Goldman began setting aside money for the case, which is being pursued by federal prosecutors and bank regulators, as well as authorities in Malaysia.
Goldman is eager to avoid a more punitive resolution, like a deferred prosecution agreement. In a deferred prosecution, the authorities ultimately decline to pursue charges if a company complies with certain requirements such as overhauling its compliance operation and paying hefty fines.
One former top Goldman banker has already pleaded guilty to federal charges in connection with the investigation, and a junior banker has also been charged. Federal prosecutors have said that at least .7 billion was looted from the fund by people close to Malaysia’s former prime minister, Najib Razak. A financier, Jho Low, who was charged in the fraud, is a fugitive believed to be in China.
Goldman Sachs was the primary banker for 1MDB, helping to sell nearly billion in bonds. The bank has said it regretted the fraud carried out by its former partner, Tim Leissner, but has said it followed appropriate procedures and was cooperating with the investigation. The bank has said the scheme was carried out by rogue employees who deceived management at Goldman.
The bank said the clawback provision would give the board the “flexibility to reduce the size of the award” to senior executives, if necessary, as a result of the 1MDB case. Mr. Solomon replaced Mr. Blankfein as Goldman’s chief executive on Oct. 1; Mr. Blankfein stayed on as chairman of the board through the end of the year.
The board set Mr. Solomon’s total compensation package for 2018 at million, a million increase from the prior year. Mr. Blankfein’s total compensation for 2018 was .5 million.
The filing on Friday seemed to be aimed, in part, at Mr. Blankfein. The board said it would “defer its decision” on some awards for its long-term incentive plan for retired executives until more information is known about the investigation.
Under most compensation plans, top executives are awarded a bonus but then receive it in parts over the next three to five years. The system allows boards to “claw back” pay before the executive receives it, in cases where missteps have occurred.
But compensation specialists said it was rare for a board to announce that it might take back pay for a specific cause.
“It’s very unusual,” said Alan Johnson of Johnson Associates, a compensation consulting firm. “They wanted to send a signal.”
The forfeiture and clawback provision could cover about five top current and former executives at the bank, said a person familiar with the matter but not authorized to speak publicly on board matters. The holdback on the long-term compensation plan could apply to up to three retired executives, including Mr. Blankfein, Michael Sherwood and J. Michael Evans, the person said.
The grants under the long-term compensation plan go back to 2011, around the time Goldman began underwriting bond deals for 1MDB.
One former executive, Gary Cohn, who left Goldman to join the Trump administration, is not affected by the decision to defer compensation because he received a lump payout when he left the bank, the person familiar with the matter said.
The scandal has threatened to tarnish the tenure of Mr. Blankfein, who helped navigate Goldman through the 2008 financial crisis. Mr. Blankfein attended at least one meeting with Mr. Low, in December 2012. That meeting was held at Goldman’s headquarters in Lower Manhattan.
The meeting, which was facilitated by Mr. Leissner, took place even though others at Goldman had expressed wariness about Mr. Low.
Speaking at a conference in November, when the charges against the two former Goldman employees were made public, Mr. Blankfein said, “These are guys who evaded our safeguards, and lie.”B:
【西】【亚】，【这】【在】【深】【蓝】【大】【陆】【上】【是】【祈】【求】【下】【雨】【的】【意】【思】。 【西】【亚】【镇】，【拂】【拂】【尼】【王】【国】，【或】【者】【更】【准】【确】【的】【说】【是】【人】【族】【最】【靠】【近】【西】【方】【兽】【族】【领】【地】【的】【人】【族】【聚】【集】【地】。 【很】【久】【以】【前】，【在】【这】【片】【土】【地】【上】【爆】【发】【过】【人】【族】【与】【兽】【族】【的】【战】【争】，【那】【场】【战】【争】【打】【的】【很】【激】【烈】，【所】【以】【导】【致】【了】【不】【少】【的】【伤】【兵】【因】【为】【无】【法】【离】【开】【而】【选】【择】【了】【就】【地】【驻】【留】，【久】【而】【久】【之】，【这】【里】【就】【诞】【生】【了】【名】【为】【西】【亚】【的】【小】【镇】。
【大】【罗】【真】【神】【已】【经】【开】【始】【触】【及】【天】【地】【间】【最】【为】【本】【源】【的】【法】【则】，【真】【名】【留】【于】【时】【光】【长】【河】，【在】【时】【光】【长】【河】【中】【印】【证】【大】【道】，【留】【下】【了】【属】【于】【自】【己】【不】【灭】【的】【印】【记】。 【纵】【使】【被】【杀】【死】，【终】【有】【一】【日】，【亦】【会】【顺】【着】【时】【光】【长】【河】【而】【下】，【然】【后】【在】【天】【地】【间】【复】【活】。 【不】【过】，【斩】【杀】【了】【其】【形】【体】，【在】【等】【其】【复】【活】，【那】【便】【是】【逆】【天】【归】【来】，【少】【不】【得】【各】【种】【劫】【数】。【错】【过】【了】【大】【争】【之】【世】，【到】【时】【候】【纵】【使】【复】【活】【又】
DK【和】MLGB【的】Ban Pick【环】【节】【即】【将】【结】【束】。 DK【阵】【容】：【美】【杜】【莎】、【月】【之】【女】【祭】【司】、【拉】【比】【克】、【天】【怒】【法】【师】。 MLGB【阵】【容】：【娜】【迦】【海】【妖】、【祈】【求】【者】、【伐】【木】【机】、【撼】【地】【神】【牛】。 【第】【五】【手】，MLGB【选】【择】【了】【屠】【夫】【帕】【吉】。 【此】【时】【郭】【川】【的】【直】【播】【间】【一】【片】【欢】【笑】【声】：“【哈】【哈】【哈】【哈】，【狗】【川】【的】【屠】【夫】【真】【的】【来】【了】。”“【我】【打】【赌】【这】【局】【狗】【川】【要】【秀】
【第】2953【章】 “【你】【们】……【你】【们】【做】【的】【很】【好】！【娘】【亲】【为】【你】【们】【感】【到】【骄】【傲】！”【深】【深】【的】【吸】【了】【一】【口】【气】，【顾】【长】【生】【心】【疼】【的】【看】【着】【宝】【宝】【和】【贝】【贝】，【抬】【手】【摸】【了】【摸】【她】【们】【的】【小】【脑】【袋】…… 【这】【俩】【孩】【子】，【纵】【然】【爱】【闯】【祸】【了】【一】【点】【儿】，【可】【是】【终】【究】【只】【是】【孩】【子】【而】【已】…… 【在】【陌】【生】【的】【世】【界】，【独】【自】【经】【历】【这】【样】【的】【事】【情】，【她】【们】【的】【处】【理】【方】【式】，【已】【经】【让】【顾】【长】【生】【这】【个】【做】【娘】【亲】【都】【觉】【得】百合图库印刷图库“【我】【们】【快】【到】【了】【呢】。”【坐】【在】【副】【驾】【驶】【座】【上】【的】【李】【浩】【扬】【抬】【起】【头】，【透】【过】【车】【窗】【望】【向】【外】，ACUBE【经】【纪】【公】【司】【的】【大】【门】【口】【里】【他】【们】【所】【在】【的】【位】【置】【不】【过】【十】【几】【步】【的】【距】【离】，【却】【被】【漫】【长】【的】【车】【流】【阻】【隔】【着】。 “【嗯】？”【坐】【在】【驾】【驶】【座】【上】【的】【李】【原】【锡】【抬】【起】【头】，【观】【望】【着】【前】【方】【的】【车】，【迟】【迟】【并】【未】【有】【移】【动】【的】【迹】【象】。“【这】【样】【的】【话】，【你】【们】【两】【位】【就】【先】【在】【这】【儿】【下】【车】【吧】。”【他】【侧】【过】【身】，
【孟】【一】【荻】【随】【后】【向】【明】【琛】【讲】【述】【了】【自】【己】【要】【和】【他】【假】【结】【婚】【的】【理】【由】，【明】【琛】【听】【完】【后】，【不】【禁】【沉】【默】。 【晚】【风】【从】【洞】【开】【的】【窗】【户】【里】【吹】【了】【进】【来】，【初】【春】【的】【天】【气】【还】【是】【有】【些】【寒】【洌】，【孟】【一】【荻】【立】【即】【伸】【手】【关】【了】【窗】。 【关】【窗】【过】【后】，【小】【区】【不】【远】【处】【马】【路】【上】【车】【辆】【行】【驶】【的】【声】【音】【被】【隔】【绝】【在】【外】，【周】【遭】【突】【然】【变】【得】【无】【比】【安】【静】。 【然】【后】【孟】【一】【荻】【听】【到】【自】【己】【的】【心】【跳】【在】——【砰】、【砰】、【砰】【的】【响】。
【曾】【经】【有】【一】【个】【时】【期】，【当】【气】【功】【热】【正】【在】【劲】【头】【上】【的】【时】【候】，【在】【中】【国】【随】【处】【可】【见】【那】【些】【练】【气】【功】【的】【人】。 【清】【晨】【的】【公】【园】，【广】【场】【空】【地】，【甚】【至】【于】【街】【头】【巷】【尾】，【只】【要】【有】【空】【间】【就】【会】【有】【人】【在】【练】【功】，【各】【种】【各】【样】【五】【花】【八】【门】，【奇】【奇】【怪】【怪】【的】【功】【法】【都】【相】【继】【涌】【现】，【气】【功】【不】【再】【是】【高】【高】【在】【上】【的】【东】【西】，【而】【是】【平】【民】【老】【百】【姓】【为】【了】【强】【身】【健】【体】【每】【日】【都】【在】【习】【练】【的】【一】【种】【日】【常】【锻】【炼】【方】【式】。 【中】
“【也】【不】【知】【是】【谁】【拿】【到】【了】【陛】【下】【给】【的】【玉】【佩】。”【走】【在】【前】【头】【的】【一】【家】【小】【声】【嘀】【咕】【着】【说】【话】，【在】【后】【头】【走】【着】【的】【秦】【簪】【和】【她】【母】【亲】【听】【得】【一】【清】【二】【楚】【的】。 “【什】【么】【玉】【佩】？”【康】【平】【夫】【人】【小】【声】【问】【秦】【簪】，【秦】【簪】【也】【不】【清】【楚】，【只】【能】【摇】【摇】【头】。 【前】【头】【走】【着】【的】【原】【来】【是】【燕】【国】【公】【夫】【人】【与】【其】【两】【个】【女】【儿】，【闻】【声】【看】【向】【她】【二】【人】【来】。 “【呦】，【是】【康】【平】【夫】【人】【和】【兰】【山】【县】【主】。”【燕】【国】【公】【夫】【人】
【事】【实】【上】【不】【仅】【杨】【树】，【海】【市】【的】【许】【多】【传】【奇】【强】【者】【都】【已】【经】【汇】【聚】【到】【之】【前】【黑】【色】【地】【铁】【出】【现】【的】【地】【方】。 【不】【仅】【如】【此】，【那】【个】【从】【京】【城】【赶】【来】【的】【超】【凡】，【也】【来】【了】。 【与】【此】【同】【时】，【整】【个】【海】【市】【已】【经】【开】【始】【了】【连】【夜】【大】【撤】【离】，【不】【管】【是】【因】【为】【诡】【异】【的】【出】【现】，【还】【是】【因】【为】【异】【界】【人】【的】【阴】【谋】，【海】【市】【都】【需】【要】【大】【撤】【离】。 【杨】【树】【就】【在】【距】【离】【地】【铁】【站】【五】【百】【多】【米】【外】【的】【一】【座】【小】【楼】【顶】【上】，【默】【默】【地】