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Morgan Stanley investors back bank directors, executive pay packages

NEW YORK, May 20 (Reuters) - Morgan Stanley shareholders voted overwhelmingly to elect all bank directors and approve the bank’s executive compensation packages, according to a preliminary tally of the shares cast at the firm’s annual meeting on Thursday.

Roughly 97% of shares were cast in support of the directors and 96% of shares were cast in support of the executive compensation plan.

Morgan Stanley’s Chief Executive James Gorman’s 2020 annual pay rose by $6 million, or 22%, from 2019. Gorman is receiving $33 million for his work in 2020, compared with $27 million the year before. Gorman’s pay had fallen by 7% in 2019. (Reporting by Elizabeth Dilts Marshall)

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