Did Morgan Stanley's CEO James Gorman Just Get A Pay Cut?

james gorman crown

Morgan Stanley’s CEO James Gorman was granted $7.4 million in stock options by the board of the bank, Dealbook reports.

$3.9 of that is restricted stock.

We’re yet to find out how much cash Gorman will be given in addition to these stock options, as part of his compensation, but Dealbook reports that it will not exceed $15 million (which is exactly what he got in ’09).

Of course that is a lot of money, but it pales in comparison to compensation of some Wall Street CEOs, like Goldman’s Lloyd Blankfein, who this month banked $24 million in a deferred payment from ’07.

Apparently Gorman’s cash component also has the option to be clawed back.

Other who just got some nice stock in their pocket include:

  • Gregory Fleming, head of asset management and the new chief of wealth management, was awarded $4 million in stock options.
  • Chairman John Mack was awarded $2 million in stock options.
  • CFO Ruth Porat was awarded $5.2 million in stock options.
  • Colm Kelleher, co head of institutional securities, was awarded $5.6 million in stock.
  • Ken deRegt, the new chief of fixed income, was awarded $3.4 million in stock.

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