BlackRock Chairman and CEO Laurence D. Fink earned $23.9 million in total compensation in 2014, a 4% increase from the year before, the company's proxy statement, released Friday, shows.
Mr. Fink, head of the world's largest money manager, is the highest paid investment management CEO.
Second is Gregory J. Fleming, Morgan Stanley's president of wealth management and investment management, who earned $17.4 million in total compensation in 2014. Mr. Fleming's compensation increased 53.3%.
Mr. Fink's package included a $900,000 base salary, a $9.1 million cash bonus and stock compensation of $13.6 million. The remaining $193,750 was “other compensation.”
Mr. Fink's cash bonus in 2014 was 7.4% lower than the previous year.
BlackRock's assets under management grew 8% during the year. Its stock returned 15.65%, 200 basis points more than the S&P 500.
Janus Capital Group CEO Richard Weil got a 72.7% jump in pay last year, the biggest increase of any money management executive. But at $8.1 million, his compensation package is dwarfed by those of Messrs. Fink and Fleming.
Timothy Pollard is data editor at sister publication Pensions & Investments