Morgan Stanley CEO James Gorman's just took a 6.7% pay cut

Morgan Stanley CEO James Gorman took a big pay cut in 2015.

Gorman will receive $21 million in total compensation, down 6.7% from 2014, according to a Morgan Stanley spokesperson.

Gorman received a base salary of $1.5 million and a stock unit award of $4.6 million, up from $4.4 million for 2014, according to an SEC filing.

Goldman Sachs CEO Lloyd Blankfein will receive $23 million for 2015, while JPMorgan CEO Jamie Dimon will receive $27 million.

Morgan Stanley on Tuesday reported fourth-quarter earnings that beat expectations.

More to come…

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