Morgan Stanley Chief Executive James Gorman is receiving $27 million in total co...
FILE PHOTO: James P. Gorman, chairman & CEO of Morgan Stanley, testifies before a House Financial Services Committeeon Capitol Hill in Washington, U.S., April 10, 2019. REUTERS/Aaron P. Bernstein/File Photo
The board, which decides the top executives’ pay, called the 61-year-old’s performance in the year “outstanding” and acknowledged “the firm’s strong financial performance.” The bank’s reported profit jumped 46% to $2.09 billion in 2019 compared to 2018. In the bank’s fourth quarter earnings on Thursday it said it was lowering 2019 bonuses staff-wide in an effort to offset a 7% increase in other compensation expenses.
Gorman’s compensation is comprised of four parts: a base salary of $1.5 million; a cash bonus of $6.375 million; a deferred equity award of $6.375 million; and a performance-vested equity award of $12.75 million.
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