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Morgan Stanley paid a $3.4 million pick in his first year as Chief Executive.
The majority of Pick’s wages are deferred bonuses paid in Morgan Stanley shares.
“The Compensation Committee is based on Pick’s 2024 compensation decision based on his assessment of outstanding performance, including the successful completion of the leadership transition and the company’s exceptional financial performance,” Morgan said. -Stanley wrote in his regulatory submission on Tuesday.
It’s under $37 million Gorman won last year, below his immediate bank rival.
Jamie Dimon of David Solomon, boss of JPMorgan Chase and Goldman Sachs, won $39 million in 2024. In Dimon, this was an 8% wage increase, but Solomon’s compensation increased by 26%. Bank of America paid chief executive Brian Moynihan $35 million last year, an increase of about 21% from the previous year.
However, the wage increases from the $25 million pick he won in 2023 were when he was co-president and ran Morgan Stanley’s investment banking and trade division.
The numbers highlight the wide wage gap between US and European banks. European banks have yet to disclose their 2024 chief executive payments, but compensation at the largest US bank is the SFR 14.4mn ($15.9 million) ($15.9 million) won by UBS boss Sergio Elmotti in 2023. ) was kept comfortably. Bank leader.
Pick took over Morgan Stanley CEO from Gorman, who had led the bank for 14 years earlier last year. Morgan Stanley’s profits rose nearly 50% in 2024, due to increased revenues from trading and investment banks.
