FILE PHOTO: James P. Gorman, chairman & CEO of Morgan Stanley, testifies before a House Financial Services Committee hearing on Capitol Hill in WashingtonNEW YORK - Morgan Stanley Chief Executive James Gorman's annual pay rose by $6 million, or 22%, last year, according to a regulatory filing released on Friday.
Morgan Stanley directors based the decision on the firm's record financial performance in 2020 and Gorman's progress in implementing the bank's long-term strategy, it said. He also engineered two large back-to-back acquisitions, those of Eaton Vance and E*Trade, to bolster its investment management and broking arms.
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