A US banker tops the "highest paid" with $ 33 million for 2020

Morgan Stanley CEO James Gorman topped the list of US chief executives in the US banking sector, surpassing his counterpart of JPMorgan Chase & Co CEO Jimmy Dimon.

Gorman earned $ 33 million for 2020, compared to $ 31.5 million for Jimmy Dimon.

In the past year, the year of record profits, Gorman executed two of the biggest deals by one of the biggest banks on Wall Street.

The accompanying increase in these deals raised the market value of Morgan Stanley’s shares to more than $ 130 billion, or nearly 30% more than the rival Goldman Sachs Group.

Morgan Stanley's boss took a surprise employee wage cut for 2019 amid record revenue and profits.

The decision was linked to cost-cutting efforts and a round of layoffs.

In 2020, Morgan Stanley made good on his promise of no job cuts to reassure employees worried about the course of the pandemic.

Some of the competitors who made a similar pledge changed course as it became clear that the problems caused by the virus were likely to last longer than the current preparedness to keep cost cuts pending.

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