Morgan Stanley Cuts Investment Bank Pay

Morgan Stanley HQ

Morgan Stanley, the firm that’s deferring all bonuses for top earners, set aside $6.65bn in 2012 to pay investment-bank employees, a 7.6% decline from a year earlier.

Bloomberg eports that the ratio of compensation to revenue in the unit fell to 44% from 53% in 2011, when excluding accounting gains and losses related to the firm’s debt prices, according to figures posted today on the company’s website.

Compensation expenses, which include salaries, bonuses, benefits and the cost of deferred pay, totaled $15.6bin companywide for the year, down 4.4%.

Bloomberg reports that the firm, the top global equity underwriter last year, has reported earnings that beat analysts’ estimates as revenue from the retail brokerage climbed.

Fourth-quarter profit was $507m, compared with a loss of $250m a year earlier.

Morgan Stanley Cuts Investment Bank’s Pay Costs 7.6% for 2012

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