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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.

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. ...

Ted Pick, the incoming CEO of Morgan Stanley, is known for his success in navigating market cycles and his ability to build long-term relationships.

When Ted Pick takes over as the new CEO of Morgan Stanley next week, the three-decade bank veteran's frank manner and steady hand will help him steer the firm through a dealmaking slump. Pick's cool head in difficult situations is an asset, said Tom Glocer, Morgan Stanley's independent lead director since 2017 and former Reuters CEO. "The great sin that gets people into super trouble at banks is the trader's instinct to hold on (to losing positions)... Ted has that ability to be disciplined" and take action, Glocer said.

Disney succession: Morgan Stanley CEO James Gorman says he will help Bob Iger find his successor after he joins Disney board.