He also engineered two large back-to-back acquisitions, those of Eaton Vance and E-Trade, to bolster its investment management and broking arms.
Gorman's compensation is comprised of four parts: a base salary of $1.5 million; a cash bonus of $7.875 million; a deferred equity award of $7.875 million; and a performance-vested equity award of $15.75 million.
The board again required that 75% of Gorman's incentive compensation be deferred over three years subject to a claw-back, and for all of that compensation to be paid in the form of equity in the company.
Rival JPMorgan Chase & Co's Chief Executive Officer Jamie Dimon will not get a raise in his annual pay and will receive $31.5 million for his work in 2020, that bank said on Thursday.
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