Morgan Stanley has released the annual salary of its CEO, James Gorman, which increased by nearly 13% to $39.4 million (€36 million) in 2022.

At the beginning of the year, the Financial Times reported that the North American bank would cut its CEO’s salary by about 10% to $31.5 billion (€28.8 billion), after it revealed a decline in revenue and profits, which was announced by the institution. Now he refutes the information revealed by “Reuters”.

In an analysis of the World Economic Outlook, James Gorman said that “his hunch was that central banks would be able to contain price increases, but investors would have to get used to higher inflation – about 4% versus 1-2% before this ‘misfortune'”. A painful transition, but not an unexpected one.

Also in this context, Lisa Shalit, director of investments for wealth management at Morgan Stanley, revealed her belief that the collapse of US banks could lead to another global financial crisis like the one that occurred in 2008.

According to the expert, the fall of Silicon Valley or Signature Bank is mainly due to poor risk management at a time when the Fed is aggressively tightening its monetary policy: however, it is expected that there will be more bankruptcies than some banks. The threat to the economy and financial sector is largely contained.

Shalit also urged the Federal Reserve and the European Central Bank to remain committed in their battle against inflation, at the risk of losing their credibility. “If the central bank’s credibility stands a chance of being preserved, I think the Fed in particular, and the European Central Bank secondarily, need to continue their hardening campaign.”