Gorman Said to Get 25% Pay Cut as Dimon Remains at $23 Million
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Morgan Stanley reduced Chief Executive Officer James Gorman’s 2011 pay by 25 percent from a year earlier as JPMorgan Chase & Co. held Jamie Dimon’s compensation steady, said two people familiar with the plans.
Dimon is likely to receive $23 million, more than double Gorman’s $10.5 million package, said the people, who spoke on condition of anonymity because the total pay amounts aren’t public. Dimon got about $17.3 million in stock and options, while Gorman received $5.1 million of shares, according to Jan. 20 regulatory filings.