The pay of Goldman Sachs' top three executives jumped by an average of nearly 24% in 2023, the Wall Street investment banking company disclosed in a filing on Friday, even as its profit fell last year. The compensation committee determined the pay based on factors such as decisive leadership that recognized the need to simplify the firm's strategy and a series of actions that narrowed the focus of the firm. Since 2022, CEO David Solomon has significantly scaled back Goldman's consumer ambitions by selling assets such as financial technology lender GreenSky at a loss.
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