Morgan Stanley gives chief executive James Gorman a 6% pay hike to $35m – The National

Morgan Stanley gives chief executive James Gorman a 6% pay hike to $35m – The National

Morgan Stanley increased chief executive James Gorman’s compensation to $35 million, leaving him poised to be the best-paid major US bank boss for another year.

The New York-based financial services company increased Mr Gorman’s pay 6 per cent for 2021, with the bank’s profitability climbing to a new high for a fourth straight year. His package includes $1.5m in salary and a $8.38m cash bonus, the firm said in a filing.

The vast majority is in the form of $25m in long-term awards, which pay out in shares and are partially tied to return on equity and shareholder-return targets.