Morgan Stanley CEO receives $7.4m in stock and options

25 January 2011

James Gorman, chief executive officer (CEO) at Morgan Stanley, is to receive $7.4 million in stock and restricted stock options.

According to regulatory filings made by the bank, the post holder, who took the job in January 2010, will receive more than 129,000 stock units and more than 420,000 stock options.

The former are thought to be worth an estimated $3.9 million with the latter having a value of $3.5 million.

Mr Gorman is also expected to get a cash payment on top of the stock although details of the size of this figure have yet to be unveiled.

However, the New York Times reported that the amount will not be more than the $15 million he received during 2009.

News of the payment follows Morgan Stanley’s recent unveiling of its financial figures for 2010 in which it saw profits triple when compared to figures from the previous year.

The CEO cited the performance of the institution’s investment banking division as key to the improvements with business activity in M&A, global equity and IPOs all helping enhance the investment bank’s position.

By Jim Ottewill

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