Morgan Stanley’s new CEO Ted Pick earned $34m for his first year as chief executive, it has been revealed.
However, this was lower than the $37m earned by his predecessor James Gorman last year and also below other big banking CEOs.
“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.
Pick began his chief executive role at the Wall Street giant at the start of last year. He took over from Gorman, who had led the bank for 14 years. Morgan Stanley’s profits increased almost 50 per cent in 2024 to $13.4bn, thanks to higher revenues in trading and investment banking.
Here are what all other banking CEO earn:
Jamie Dimon, CEO, JPMorgan Chase: $39m
Goldman Sachs boss David Solomon: $39mn
Bank of America CEO Brian Moynihan: $35m
