The salary of Goldman Sachs chief executive David Solomon was slashed by 36% — or roughly $10m — in 2020 following the bank’s admission of guilt in the 1MDB global corruption scandal.

Solomon received $17.5m in compensation in 2020, down from $27.5m a year earlier, securities filings showed on 26 January. The cut was part of Goldman’s pledge to take a total of $174m in compensation from current and former executives as punishment for their involvement in the affair.