Goldman Sachs boss takes near 30% pay cut as turbulence hits bank

David Solomon's pay was $25m for 2022, down from $35m in 2021, as investment bank's profits halve and 3,200 staff laid off

Goldman Sachs has slashed its chief executive's pay packet by almost 30% after a turbulent year that resulted in one of the largest round of job cuts in the Wall Street lender's history.

The bank revealed on Friday that David Solomon had been paid $25m (20m) for 2022, down from $35m a year earlier, after the bank revealed a 50% drop in annual profits following a slump in dealmaking. Solomon's pay included a $2m base salary and $23m in bonuses.