Morgan Stanley Cuts CEO Gorman’s Pay 10% to $31.5 Million
- Bank cites challenging economic environment in CEO’s 2022 pay
- Compensation and bonuses are in focus amid dealmaking slump
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Morgan Stanley cut Chief Executive Officer James Gorman’s compensation by 10% to $31.5 million for 2022, a year in which profit tumbled and the shares sank.
The package includes $1.5 million in salary and a $7.5 million cash bonus, the firm said in a filing Friday. The vast majority is in the form of $22.5 million in equity-linked awards, which pay out in shares.