{"id":19993,"date":"2017-01-21T07:12:44","date_gmt":"2017-01-21T07:12:44","guid":{"rendered":"http:\/\/www.biphoo.com\/bipnews\/?p=19993"},"modified":"2017-01-21T07:12:44","modified_gmt":"2017-01-21T07:12:44","slug":"morgan-stanley-ceo-james-gorman-2016-pay-up-7-pct-to-dollar-22-5-million","status":"publish","type":"post","link":"https:\/\/www.biphoo.com\/bipnews\/business\/morgan-stanley-ceo-james-gorman-2016-pay-up-7-pct-to-dollar-22-5-million.html","title":{"rendered":"Morgan Stanley CEO James Gorman 2016 pay up 7 pct to Dollar 22.5 million"},"content":{"rendered":"
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Morgan Stanley CEO James Gorman 2016 pay up 7 pct to Dollar 22.5 million<\/span><\/strong><\/span><\/h2>\n

Morgan Stanley CEO James Gorman 2016 pay up 7 pct to Dollar 22.5 million:-<\/strong> Morgan Stanley (MS.N) Chief Executive James Gorman’s overall pay rose 7 percent in 2016 as the Wall Street bank’s stock soared and it edged closer to hitting a key profitability target.<\/span><\/p>\n

Gorman will receive $22.5 million in total compensation, up from $21 million in 2015, spokesman Mark Lake said in an email.<\/span><\/p>\n

Gorman received a $5 million stock bonus for his performance in 2016, an 8 percent increase from 2015, according to a filing with the U.S. Securities and Exchange Commission.<\/span><\/p>\n

The 117,293 shares were in addition to $1.5 million in salary, cash, deferred cash and long-term incentives.<\/span><\/p>\n

The filing did not provide greater detail on Gorman’s total 2016 compensation.<\/span><\/p>\n

Gorman, who became CEO in 2010, has been focused on building Morgan Stanley’s wealth management business, a more stable revenue source than trading.<\/span><\/p>\n

Morgan Stanley posted an 8 percent return on equity in 2016, moving closer to the 9 to 11 percent range which Gorman aims to achieve by the end of 2017.<\/span><\/p>\n

Morgan Stanley shares soared 33 percent in 2016, the biggest gainer among the largest U.S. banks’ stocks. Gains were particularly strong after the Nov. 8 U.S. election, as investors bet that the Trump administration would usher in an era of less regulation and more economic growth.<\/span><\/p>\n

Net income in 2016 fell 2 percent to $6 billion, weighed down by a challenging start to the year, when the bank cut 25 percent of jobs in its fixed income trading division after a prolonged slump in the business.<\/span><\/p>\n

The fixed income unit rebounded after the first quarter, exceeding Gorman’s target of $1 billion in revenue per quarter.c<\/span><\/p>\n

Gorman’s pay was below that of JPMorgan Chase & Co (JPM.N) CEO Jamie Dimon’s $28 million, up 3.7 percent in 2016.<\/span><\/p>\n

Source:-\u00a0http:\/\/www.reuters.com\/article\/us-morgan-stanley-ceo-pay-idUSKBN1542SQ<\/span><\/div>\n

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