Morgan Stanley (MS, Financial) has announced the 2024 compensation package for its Chief Executive Officer, Edward Pick. The decision, made by the Compensation, Management Development and Succession Committee of the Firm's Board of Directors, reflects Mr. Pick's outstanding performance and successful leadership transition. Effective January 1, 2025, Mr. Pick also assumes the role of Chairman of the Board of Directors.
The Compensation Committee highlighted Mr. Pick's execution of a clear and consistent long-term strategy, which has been instrumental in driving revenue growth, maintaining strong capital and liquidity, and ensuring robust earnings. His focus on expense discipline, investment in risk and controls, and delivering a fully integrated firm to clients were also noted as key factors in the compensation decision. Under his leadership, Morgan Stanley has upheld its commitment to a culture of partnership, rigor, and humility while retaining a long-tenured leadership team.
For 2024, Mr. Pick's total compensation is set at $34 million. Consistent with previous years, 75% of his bonus is deferred over three years and is subject to cancellation. Furthermore, 100% of the deferred bonus is delivered in the form of equity awards, aligning his compensation with shareholders' interests. Additionally, 60% of Mr. Pick's bonus is delivered in performance-vested equity.
Further details on Morgan Stanley's incentive compensation programs and governance, including all material elements of Mr. Pick's compensation and that of other named executive officers, will be available in the firm's proxy statement for the 2025 annual meeting of stockholders, expected to be filed with the Securities and Exchange Commission in April 2025.
The report may include certain non-GAAP financial measures, with definitions or reconciliations to comparable U.S. GAAP figures available in Morgan Stanley's Current Report on Form 8-K dated January 16, 2025.
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