United Kingdom European Union membership referendum, which led to a popular vote to leave the European Union, Gorman said there was "nothing good about Brexit". He added that some jobs would be moved not only out of England, but out of Europe entirely, possibly to New York City or Tokyo. In January 2020, he was appointed an Officer of the Order of Australia (AO) that recognizes Australians who have demonstrated outstanding service or exceptional achievement. Gorman said he was "honoured to receive this award and extremely proud to represent Australia abroad." "While most of my working life has been in the US my heart remains firmly Australian," Mr Gorman said. As a result of his work in 2020, James Gorman was paid a 22% raise ($6 million) from 2019 pay of $27 million by Morgan Stanley, making him the highest-paid bank executive in America. The Wall Street firm generated record revenue that year and announced two multibillion-dollar acquisitions of E*trade Financial Corp. and Eaton Vance Corp. and avoided much of the economic recession caused by the pandemic. Gorman is scheduled to speak at the November 2022 Global Financial Leaders' Investment Summit, with the Hong Kong Democracy Council claiming that his presence, along with other financial executives, legitimizes the Hong Kong government's whitewashing of the erosion of freedoms in the city. Several members of Congress also warned that US financial executives should not attend the Summit, saying "Their presence only serves to legitimise the swift dismantling of Hong Kong's autonomy, free press and the rule of law by Hong Kong authorities acting along with the Chinese Communist Party." Board memberships Gorman serves as a Director of the Council on Foreign Relations, and Chair of the Board of Overseers of the Columbia Business School, and is a member of the Financial Services Forum, Business Council and the Business Roundtable. He formerly served as a Director of the Federal Reserve Bank of New York, President of the Federal Advisory Council to the U.S. Federal Reserve Board, Co-Chairman of the Partnership for New York City, Co-Chairman the Business Committee of the Metropolitan Museum of Art and served on the board and as Chairman (2006) of the Securities Industry and Financial Markets Association in Washington, D.C. Personal life Gorman is a dual citizen of Australia and the United States and lives in Manhattan. He has two adult children. Gorman earned $27 million in 2019. References