Shows & Panels
- Accelerate and Streamline for Better Customer Service
- Ask the CIO
- The Big Data Dilemma
- Carrying On with Continuity of Operations
- Client Virtualization Solutions
- Data Protection in a Virtual World
- Expert Voices
- Federal Executive Forum
- Federal IT Challenge
- Federal Tech Talk
- Feds in the Cloud
- Health IT: A Policy Change Agent
- Improving Healthcare Outcomes through IT Policy
- IT Innovation in the New Era of Government
- Making Dollars And Sense Out of Data Center Consolidation
- Navigating the Private Cloud
- One Step to the Cloud, Two Steps Toward Innovation
- Path to FDCCI Compliance
- Take Command of Your Mobility Initiative
Shows & Panels
Source: Morgan Stanley CEO will get a pay cut
Thursday - 1/24/2013, 6:56pm EST
AP Business Writer
NEW YORK (AP) - Morgan Stanley CEO James Gorman will get a pay cut for 2012.
A person familiar with the situation says the bank plans to trim Gorman's pay from its 2011 level due to a lackluster stock performance and other corporate growth measurements.
According to an Associated Press analysis, Gorman's compensation package totaled $13 million in 2011.
The person said that, as in 2011, Gorman will not receive any immediate cash bonus for 2012. The person was not authorized to speak publically about the pay decision.
Gorman's pay cut is not expected to be as dramatic as that of JPMorgan Chase CEO Jamie Dimon. Earlier this month, JPMorgan's board said it would slash Dimon's pay in half, to $11.5 million, after the bank suffered a surprise $6 billion trading loss last year.
(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)