Morgan Stanley Boosted Gorman’s Pay 25% for 2014

Lloyd Blankfein, CEO of Goldman Sachs Group Inc. (GS), received $24 million in salary and bonus for 2014, up from $23 million a year earlier. His long-term incentive award, which was $6 million in the 2013 package, hasn't yet been disclosed.

Morgan Stanley said in December that it will defer future bonus pools at an average rate of 50 percent, down from about 80 percent for 2013. Gorman said he would structure pay more in line with rivals now that the firm's performance has "stabilized" and returns have increased. Two years ago, employees who had both total pay of at least $350,000 and a bonus topping $50,000 had their entire bonus deferred.

Donald Nicolaisen, former chief accountant of the Securities and Exchange Commission and a director at Morgan Stanley since 2006, is chairman of the board's compensation committee.

'Supplemental Award'

Chief Financial Officer Ruth Porat, who is leaving the company this month to take the same role at Google Inc. (GOOG), was awarded $13 million, up from $12 million a year earlier. The firm didn't disclose how much of the deferred pay, more than $9 million, she would receive after leaving the bank.

Colm Kelleher, who leads the investment banking and trading division, and Greg Fleming, who oversees wealth and asset management, each got $16 million, up from $14.5 million for 2013. Chief Operating Officer Jim Rosenthal was awarded $11.5 million, a $1 million increase from a year earlier.

Kelleher also received a $2 million "supplemental award" to recognize the "successful execution of his global role, management of global regulatory obligations, and regular client interactions across many jurisdictions," the company said. The award is half in stock and half in deferred cash and vests over three years.