Jan. 20 (Bloomberg) -- Morgan Stanley paid Chairman and Chief Executive Officer James Gorman $10.5 million for 2011, a 25 percent decrease from the previous year, a person familiar with the decision said.

The person declined to be identified because Gorman’s total compensation hasn’t been made public.

To contact the reporter on this story: Michael J. Moore in New York at mmoore55@bloomberg.net

To contact the editor responsible for this story: David Scheer at dscheer@bloomberg.net