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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.

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