Mr Gorman is expanding the bank's asset management business, while shrinking a trading arm that has proved an increasingly volatile source of profit.
Shares in Morgan Stanley climbed 24 per cent last year, outpacing the 13 per cent increase in the S&P 500 Financials Sector Index.
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Almost $10m of Mr Gorman's compensation is deferred, the bank said in a filing with the Securities and Exchange Commission.
His counterpart at rival Goldman Sachs, chairman and chief executive, Lloyd Blankfein, received about $24 million in salary and bonus for 2014, though the value of any long-term stock awards he received will not be fully disclosed until Goldman also lodges its annual proxy statement.
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James Dimon, JPMorgan Chase chairman and chief executive, is set to receive a flat $20 million for 2014, with a portion in cash larger than the previous year.
The latest Morgan Stanley filing also disclosed the packages for other executives, including its recently departed chief financial officer Ruth Porat, who has resigned to take the same role at Google on a package that will deliver her $70 million by 2016 after including various share awards. Ms Porat received $13m in her last year at Morgan Stanley, including salary, bonus and long-term incentive pay.
Greg Fleming, who runs Morgan Stanley's wealth and asset-management businesses, and Colm Kelleher, who heads investment banking and trading, each received a total package of $16 million in 2014. James Rosenthal, chief operating officer, earned $11 million.