Package includes $4.64 million of stock, $1.5 million salary
Bank’s stock slumped 18% last year, lagging behind rivals
Morgan Stanley cut Chief Executive Officer James Gorman’s compensation by 6.7 percent after the firm missed financial targets and the stock lagged behind competitors.
Gorman, 57, got $21 million for his performance in 2015, Mark Lake, a company spokesman, said Friday. That includes $4.64 million of stock and $1.5 million in salary. The New York-based firm will report other details about the CEO’s pay later this year.
JPMorgan Chief Dimon Gets 35 Percent Raise
Wall Street’s most prominent banker, JPMorgan Chase’s chief executive Jamie Dimon, is getting a 35 percent raise this year.
Dimon was given a $7 million pay hike by the bank’s board of directors Thursday, boosting his compensation to $27 million.
That comprises a $1.5 million base salary, a cash bonus of $5 million and $20.5 million in stock options, according to a securities filing by the bank. The raise came after the bank saw $24.4 billion in earnings last year, a gain of 12.5 percent.