Morgan Stanley boss gets biggest raise yet

More than Jamie Dimon.

Morgan Stanley gave James Gorman the biggest raise yet among Wall Street chief executive officers for last year, boosting his pay 25% to $22.5m.

Bloomberg News reports that Gorman, 56, received a $6.5m long-term incentive and $5.4m in deferred cash, the bank said Wednesday in a regulatory filing. He also got a $4.7m cash bonus, $4.4m in stock and a $1.5m salary.

The compensation committee deemed Gorman 'as exceeding expectations' and found the firm’s performance and shareholder returns were 'strong, with room for continued progress', according to the filing. When setting his pay, the panel didn’t consider the firm’s $2.6bn settlement of U.S. probes into its creation and sale of mortgage-backed securities, the company said.

To access the complete Bloomberg News article hit the link below:

Morgan Stanley Boosted Gorman’s Pay 25% for 2014

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