According to the NY Time's Dealbook James P. Gorman, the chief executive of Morgan Stanley, will
receive a huge raise in his base salary this year, but his overall pay package
for 2012 was down from 2011, according to a filing Thursday with the Securities
and Exchange Commission.
Gorman made $9.75 million in 2012, down 7 percent from
2011. The firm had previously disclosed pieces of Gorman’s pay, like some
incentive bonuses, but on Thursday, the firm revealed the value of his entire
package. He was also granted performance-based stock compensation valued at
almost $3.75 million in 2012.
The firm also said that his base salary in 2013 would double
to $1.5 million, or $28,846.15 a week. The firm’s board said in the filing that Gorman’s base salary was raised to bring it in line with the salaries of
other bank chiefs. The CEO of Goldman Sachs, Lloyd C. Blankfein, for instance,
makes a base salary of $2 million.
Want to eat your heart out? Read all about it at http://dealbook.nytimes.com/2013/01/31/gorman-gets-a-big-bump-in-base-salary/
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