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Morgan Stanley pays James Gorman $ 35m in 2021

Morgan Stanley paid his boss James Gorman $ 35m for his work in 2021, a $ 2m increase from a year ago and more than his Wall Street counterpart Jamie Dimon.

The Gorman pay package is a very recent example of Wall Street groups that benefit top banks with increased payouts after a year of huge profits for companies. In a quarterly economy last week, Morgan Stanley reports record income and tax benefits before 2021.

For the year, Gorman received a starting salary of $ 1.5m, a cash prize of $ 8.375m, $ 5.025m in the delay prize and a performance bonus of $ 20.1m.

“The Compensation Committee based its decision on assessing Gorman’s achievements and financial successes, including meeting or exceeding his two-year goals announced in January 2021, and fulfilling the next phase of growth and value for all,” the bank said in a statement. Friday.

Gorman owned less than 1.2m Morgan Stanley shares since November, according to the most recent reservation, which is about $ 117m off the bank’s closure on Friday.

Under Gorman, a senior executive since 2010, Morgan Stanley grew into businesses such as asset management, with the help of chunky purchases including ETrade and Eaton Vance, in an effort to differentiate between affiliated banks and securities and bond securities.

JPMorgan Chase said Thursday it raised pay Demon, chief banker since 2005, and $ 3m to $ 34.5m in 2021. This was a lot of money he had earned since 2008 but it was not enough to regain his position as chief executive officer, which Gorman took over in 2020..

In the fourth quarter acquisition, five leading Wall Street banks – JPMorgan, Citigroup, Goldman Sachs, Morgan Stanley and Bank of America – also said they had taken action. donated $ 142bn All payments and benefits in 2021, about 15 percent from last year.

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