NEW YORK (Reuters) - Morgan Stanley's board boosted Chairman and Chief Executive James Gorman's compensation by one-third last year, to $16 million from $12 million in 2013, according to its proxy filing on Wednesday.
The board also increased the amount of long-term incentive awards that Gorman can receive if he meets certain performance targets to $6.5 million from $6 million the prior year.
Using another calculation set by the U.S. Securities and Exchange Commission which includes restricted awards from prior years and perks, Gorman received $23.3 million in 2014, up from $14.4 million the prior year.
Morgan Stanley also nominated former Wellington Management CEO Perry Traquina as a new director to its board. The bank said two directors, Howard Davies and Robert Kidder, will not be standing for re-election. Davies is leaving to become chairman of Royal Bank of Scotland Group PLC
(Reporting by Lauren Tara LaCapra; Editing by Bernard Orr)
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