The CEO of US investment bank Morgan Stanley, James Gorman, will receive $ 33 million in compensation for the year 2020, up more than 22% from 2019.
The bank explains that it “
based its decision on its assessment of the exceptional individual performance of Mr. Gorman, both in terms of significant progress in the implementation of the long-term strategy (...), and financial performance. company record for 2020,
”according to a document sent by Morgan Stanley to the US Stock Market Constable (SEC).
The bank's net profit rose 23% in 2020 to $ 10.5 billion, driven by a 16% increase in revenue to $ 48.2 billion.
James Gorman's compensation consists of a base salary of $ 1.5 million, a bonus of $ 7.875 million paid directly, the remainder being made up of shares, part of which is subject to the company's results. in the next three years.
Gorman, 62, has been the head of America's sixth largest bank for a decade.
In 2019, his compensation had fallen 6.9% to $ 27 million.
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