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Morgan Stanley’s Gorman Tops Dimon as Best-Paid Big Bank CEO

  • Gorman rewarded with $33 million package after record earnings
  • Pay raise follows year in which Gorman took a surprise cut
James Gorman

James Gorman

Photographer: Michael Nagle/Bloomberg

Morgan Stanley Chief Executive Officer James Gorman leaped past JPMorgan Chase & Co.’s Jamie Dimon as the best-paid CEO of a major U.S. bank.

Morgan Stanley boosted Gorman’s pay 22% to $33 million for 2020, when the Wall Street bank posted its third consecutive year of record earnings. His pay includes $1.5 million in salary and a $7.88 million bonus, the firm said Friday in a filing. The vast majority is in the form of $23.6 million in long-term awards, which pay out in shares and are partially tied to return on equity and shareholder-return targets.