Morgan Stanley CEO James Gorman pay up 20% in 2017
Gorman`s total compensation includes a base salary of $1.5 million plus cash bonuses of about $5.6 million awarded in the early part of 2018, deferred cash and equity awards of nearly $7.2 million, and a long-term incentive plan based on performance worth $12.8 million.
Morgan Stanley Chief Executive James Gorman`s overall pay rose 20 percent to $27 million last year during a period that saw the firm`s net revenues rise 10 percent and pre-tax profit margin rise 18 percent, according to bank filings released on Friday.
Gorman`s total compensation includes a base salary of $1.5 million plus cash bonuses of about $5.6 million awarded in the early part of 2018, deferred cash and equity awards of nearly $7.2 million, and a long-term incentive plan based on performance worth $12.8 million.
Gorman, 58, has been chief executive of the Wall Street bank since 2010.
New this year, the bank reported the ratio between Gorman`s total compensation and the median annual total pay for all other employees to be 192 to 1, with the median 2017 compensation for employees being $127,863.
Gorman`s pay was below that of JPMorgan Chase & Co Chief Executive Jamie Dimon, who made $29.5 million last year, but higher than Citigroup Inc CEO Michael Corbat’s annual compensation of $23 million.
Morgan Stanley President Colm Kelleher`s total compensation rose to $23 million and Chief Financial Officer Jonathan Pruzan`s total pay rose to $11.5 million.
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