Morgan Stanley lifts James Gorman's pay to record $29 million for 2018

Morgan Stanley boosted Chief Executive Officer James Gorman’s compensation by 7.4 percent to $29 million for 2018.

Gorman, 60, got a $13.75 million incentive tied to achieving future targets, and $6.875 million in both cash and restricted shares, according to a regulatory filing Friday. The package, which includes his $1.5 million salary, surpasses the $27 million he was paid for 2017 as the most he’s received since taking the helm.

Morgan Stanley this week posted its highest-ever annual profit, even as fourth-quarter performance disappointed investors. The bank was helped by US corporate tax cuts, a jump in deal fees and a bigger