Wall Street’s two marquee investment banks each slightly cut their chief executives’ pay after a year that saw profitability fall and shares drop amid a turbulent backdrop.
Goldman Sachs Chief Executive Lloyd Blankfein and his Morgan Stanley counterpart James Gorman saw their overall compensation fall in 2015.
Blankfein’s overall pay declined 4 percent from the year prior to $23 million, while Gorman’s slid 7 percent to $21 million, the banks disclosed on Friday.
