Morgan Stanley shares slide as Executive Chairman James Gorman announces resignation plans and concerns over executive pay awards surface amidst shareholder meeting outcomes.
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Bank of America cut compensation for CEO Brian Moynihan by 3.3% to $29 million for 2023 after its annual profit fell 4%, the lender said in a filing on Friday.That compares with Moynihan's pay of $30 million for 2022. By contrast, rival JPMorgan Chase gave CEO Jamie Dimon a 4% pay increase to $36 million for 2023, while Morgan Stanley awarded Executive Chairman James Gorman a 17% bump to $37 million in his last year as CEO. Bank of America's board cited Moynihan's leadership and the company's success during "a period of considerable economic uncertainty" as factors behind its decision.
By Saeed Azhar and Manya Saini NEW YORK (Reuters) - Bank of America cut compensation for CEO Brian Moynihan by 3.3% to $29 million for 2023 after its .
(Reuters) -Morgan Stanley s Executive Chairman James Gorman sold shares of the bank worth roughly $4.4 million on the open market, a regulatory filing .