NEW YORK (Reuters) -Morgan Stanley Executive Chairman James Gorman's compensation in his last year as CEO rose 17% to $37 million for 2023 from $31.5 million in 2022, the bank said in a filing on Friday. JPMorgan Chase CEO Jamie Dimon was awarded $36 million for 2023, and compensation details from rival banks will emerge in the coming weeks. Gorman became executive chairman on Jan. 1, handing over to new CEO Ted Pick.
According to the 19th annual CEO Success study by PwC’s Strategy&, boards and new CEOs can reduce the risk associated with handing off the baton after a long tenure.