Morgan Stanley Trims Investment Bank’s Compensation Pool 14%
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Morgan Stanley, owner of the world’s biggest brokerage, set aside $1.89 billion to pay employees at its investment-banking and trading division in the first quarter, 14 percent less than a year earlier.
Compensation at the institutional-securities unit, which includes salaries, bonuses and the cost of previous deferred awards, equaled 43 percent of adjusted revenue, little changed from a year earlier, according to figures posted today on the New York-based firm’s website.