Morgan Stanley paid Ted Pick $34mn for his first year as chief executive, down from what his predecessor James Gorman earned in his final 12 months in the role and less than Wall Street rivals.
The bulk of Pick’s pay is a deferred bonus paid in Morgan Stanley stock.
“The compensation committee based its decision of Mr Pick’s 2024 compensation on its assessment of his outstanding performance, including the successful completion of the leadership transition and the firm’s exceptional financial performance,” Morgan Stanley wrote in a regulatory filing on Tuesday.
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