|
Gorman's total compensation will include an annual base salary
of $1.5 million, a cash bonus of $8.38 million, a deferred
equity award of $5.03 million and a performance-based equity
award of $20.1 million, according to a regulatory filing.
On Thursday, the board of JPMorgan Chase & Co gave a 9.5% raise
to CEO Jamie Dimon, bringing his total compensation for 2021 to
$34.5 million.
Since taking over a decade ago, the 63-year-old CEO has
transformed Morgan Stanley from a Wall Street firm focused on a
money-losing trading businesses into a more balanced bank. He
was the driving force behind Morgan Stanley's decision to
acquire brokerage firm and investment adviser Smith Barney that
helped make wealth management the cornerstone of his plan to
stabilize revenue.
Morgan Stanley directors based the pay decision on Gorman's
individual performance and the bank's record earnings in 2021,
it said.
Under Gorman, Morgan Stanley reported a net income of $15
billion in 2021, compared with $11 billion a year earlier and a
return on tangible common equity of 19.8% compared with 15.2%
last year.
(Reporting by Mehnaz Yasmin in Bengaluru; Editing by Vinay
Dwivedi)
[© 2022 Thomson Reuters. All rights
reserved.]
This material may not be published,
broadcast, rewritten or redistributed.
Thompson Reuters is solely responsible for this content.
|
|
