Morgan Stanley CEO James Gorman is now the highest-paid bank executive in America following a 22% raise amid a record year for the company
Morgan StanleyCEO James Gormanwas paid $33 million in 2020, the bank said in a filing Friday.
- Gorman's pay rose by 22%, making him the highest-paid CEO of a major US bank, Bloomberg reported.
- Morgan Stanley posted record earnings on the year and avoided cutting jobs, unlike its competitors.
Morgan Stanley paid CEO James Gorman a total of $33 million in 2020, a 22% increase from the previous year, the bank said in a regulatory filing Friday.
Gorman's pay bump makes him the highest-paid chief executive of a major US bank, pushing him past JPMorgan Chase CEO Jamie Dimon, according to Bloomberg.Gorman's compensation last year included a base salary of $1.5 million, a cash bonus of roughly $7.9 million, deferred stock awards of roughly $7.9 million, and a performance based stock award of $15.75 million that's tied to certain equity- and shareholder-return targets.
Goldman Sachs, JPMorgan, and Wells Fargo, undertook new rounds of cuts late last year.
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