Who is David Solomon? Goldman Sachs CEO 'bragged about getting oral sex', claims bombshell lawsuit
Goldman Sachs reportedly ended up agreeing to pay the female executive $12M as part of a secret settlement two years ago
MANHATTAN, NEW YORK CITY: A shocking lawsuit that resulted in a covert $12 million settlement with a female partner alleged that David Solomon, the CEO of Goldman Sachs, boasted about his sexual prowess to a group of male colleagues. According to a lawsuit made public by Bloomberg News, the CEO of Wall Street's most prominent investment bank bragged to the subordinates that he was the only one in the group to have had oral sex the previous night.
The lawsuit was brought by the former Goldman Sachs partner who claimed the investment bank fostered a sexist atmosphere and included Solomon's alleged brag which allegedly happened very soon after he took over the firm in 2018. At least three executives, according to Bloomberg, either overheard Solomon's alleged statement at the time or learned about it later. They told the publication that the claimed event was notable since the 60-year-old chief executive was thought to be so out of character for it. The lawsuit also claimed that Goldman Sachs paid women less than men for performing the same work and that the business condoned crude and vulgar statements from senior personnel. The alleged remark was not the main point of the lawsuit. However, as part of a covert deal reached two years ago that has only come to light, Goldman Sachs ultimately decided to pay the female executive "well over" $12 million, as per Bloomberg. The outlet claims that it is probably the biggest compensation of its sort.
Bloomberg stated that none of the executives who were informed about Solomon's alleged sexual boast were aware that it was mentioned in the grievance brought forth by the departed partner. “Bloomberg’s reporting contains factual errors, and we dispute this story,” said Kathy Ruemmler, General Counsel at Goldman Sachs in response to the report.
“Anyone who works with David knows his respect for women, and his long record of creating an inclusive and supportive environment for women,” she said according to New York Post. Other senior officials were also accused of making disparaging statements about women in the case, including Steven Strongin, the former director of investment research. In order to promote its initiatives to increase diversity among its high echelons, Goldman Sachs reportedly wanted to settle quickly. The partner has since moved on to work for another business, albeit she never made her accusations public and the publication has remained quiet on her identity. The revelation of the payment is the latest setback for Goldman which has been charged with fostering a hostile work environment for women.
Who is David Solomon?
David Michael Solomon, an American investment banker, was born in 1962. He has been the CEO of Goldman Sachs since October 2018. Since January 2019, he has also served as the bank's chairman. Solomon held the positions of president and chief operational officer from January 2017 to September 2018 and joint head of the investment banking division from July 2006 to December 2016 prior to taking the helm as CEO on October 1, 2018, In his spare time, Solomon (formerly known as DJ D-Sol) produces electronic dance music (EDM) tracks under the moniker David Solomon. He has played in venues and events for music in New York, Miami and other cities.