Morgan Stanley CEO James Gorman took a big pay cut for 2015
Gorman will receive $21 million in total compensation - down $1.5 million or 6.7% from 2014, according to a Morgan Stanley spokesperson.
The chief executive 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.
In 2014, Gorman's compensation, excluding long-term incentive pay, was $16 million, up a third from the year before. Including long-term incentive compensation, the total was $22.5 million.
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. The disastrous fixed income, currencies, and commodities division, however, missed expectations and was down year-on-year.