New Goldman Sachs boss faces 1MDB fallout

Wall Street’s most famous bank finds itself under scrutiny
following charges against former employees

The new chief executive of Goldman Sachs,
part-time DJ David Solomon
, was probably hoping to give his
image a more professional sheen when he stepped into the top job at
the world’s most famous investment bank. The institution’s
deepening entanglement in a major corruption scandal is certainly a
serious matter that will limit his leisure time.

The Wall Street giant’s work for Malaysia’s state investment
fund – known as 1MDB – was not a secret, but a recent US
Department of Justice investigation and subsequent charges against
former Goldman bankers have immediately raised the pressure on
Lloyd Blankfein’s successor.

Source: FS – All-News2-Economy
New Goldman Sachs boss faces 1MDB fallout