Despite the pandemic, US banks post insolent results
US bank Morgan Stanley's net income rose 23% in 2020. AP - Mark Lennihan
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Sign of the insolent health of the big American banks, while the country is one of the countries affected in the world by the Covid-19 pandemic, the CEO of Morgan Stanley will receive 33 million dollars for fiscal 2020, an increase of 22% compared to the previous year.
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James Gorman's compensation is justified, explains investment bank Morgan Stanley.
She based her decision both on the assessment of the exceptional work of the CEO of the institution on strategy, especially long term and on "
the record financial performance of the company for 2020
", according to a document sent by Morgan Stanley to the American Stock Exchange Constable.
The bank's net profit indeed rose 23% last year, to $ 10.5 billion.
The sixth American bank in a decade is not the only one to have seen rising results - we remember that they were at the origin of the financial crisis of 2008.
They benefited from the solid health of the financial markets, particularly in shape at the end of last year, driven by the American presidential election, the influx of information on the arrival of vaccines against Covid-19 and hope for a new stimulus package in the United States.
Large corporations have therefore generally held the bar and maintained their activities, during a pandemic that at the same time destroyed millions of jobs and led to
the bankruptcy of many small businesses
in the country.
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Economy
United States
Finance