Ted Pick, Morgan Stanley's new CEO, earned $34 million in his first year, which is lower than the $37 million compensated to his predecessor, James Gorman. This decision was based on Ted Pick's effective leadership transition and the firm's exceptional financial performance, as profits surged almost 50% in 2024 to $13.4 billion. The regulatory filing compared his compensation to other banking CEOs, highlighting that Pick's earnings are below competitors like Jamie Dimon and David Solomon, who earn $39 million each, and Brian Moynihan at $35 million.
Morgan Stanley's compensation committee recognized Ted Pick's outstanding performance amid a rising profit of 50% in 2024, awarding him $34 million, but it remained below his predecessor's $37 million.
Despite Ted Pick's significant contributions leading to Morgan Stanley's record profits of $13.4 billion in 2024, his $34 million pay falls short of his predecessor James Gorman's earnings.
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