Morgan Stanley NYSE:MS today reported that it may cut its bonus pay outs. According to some people familiar, on the condition on their anonymity, told that the MS chief executive officer James Gorman is planning to move on Morgan’s financial institutions for current year bonus payouts.
According to the anonym sources Gorman had some confidential meetings with bankers about leveling back their bonus money. With the adverse effects the compensations could reduce to 23% as various financial research institutions estimated on the matter. The MS officials denied to comment on such matter.
Morgan Stanley is a financial holding company. Through its subsidiaries and affiliates, the Company operates as a global financial services company that provides its products and services to a diversified group of clients and customers, including corporations, governments, financial institutions and individuals. It operates through three business segments: Institutional Securities, Global Wealth Management Group and Asset Management. In May 2010, Invesco Ltd. acquired the Company’s retail asset management business. During the year ended December 31, 2009, it disposed its former real estate subsidiary, Crescent Real Estate Equities Limited Partnership.
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