Morgan Stanley pays Ted Pick $34mn in his first year as chief executive

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Morgan stanley paid $ 34 million to Ted Pick for his first year as CEO, his predecessor James Gorman made his role in the final 12 months and less than the rivals on Wall Street.

Its bulk ChoiceThe salary of a pending bonus paid in Stanley Stanley Stanley Stanley.

Morgan Stanley wrote in a regulatory filing on Tuesday, “The compensation committee made Mr. Pick’s compensation decision on the 2021222 based on its outstanding performance, with the successful completion of the leadership and its decision with exceptional financial performances of the firm.”

It is $ 37 million earned by Gorman last year and less below its immediate banking rivals.

Jamie Dimon JP Morgan Chase and Goldman Shutch boss David Solomon both earned $ 39 million in 2021. For Dimon it was 8 percent salary increase and Solomon’s compensation increased by 26 percent. The Bank of America paid $ 35 million to Chief Executive Bryan Mainehan last year, and about 21 percent increased a year ago.

However, it is still a salary bump from the selection of $ 25 million earned in 2023, when he was vice-president and was operating Morgan Stanley’s investment banking and trading department.

The numbers refers to a wide wages between us and European banks. Although European banks have not yet been able to disclose their CEO for 2024, the United States has earned 2023 by UBS boss Sergio Ermotti, by receiving SFR 14.4mn (. 15.9mn) by accepting compensation in the largest US banks in the United States Best-paid European Bank leader.

Pick Gorman took over as CEO of Morgan Stanley earlier last year, who led the bank for 14 years. Morgan Stanley’s profit increased by about 5 percent in 2021 to $ 1.8 billion, encouraged by higher income of trade and investment banking.