EXCLUSIVE - Morgan Stanley to defer bonuses for high earners: sources

NEW YORK Tue Jan 15, 2013 10:34pm IST

The headquarters of Morgan Stanley is pictured in New York January 9, 2013. REUTERS/Shannon Stapleton

The headquarters of Morgan Stanley is pictured in New York January 9, 2013.

Credit: Reuters/Shannon Stapleton

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NEW YORK (Reuters) - Morgan Stanley (MS.N) is deferring 100 percent of the bonuses for high-earning employees, according to three sources familiar with the situation.

The deferral applies to all employees, except for financial advisers, who make more than $350,000 annually and whose bonuses are at least $50,000, one of the sources said. The deferred bonuses will be paid out over a three-year period.

Employees who make less than $350,000 annually and whose bonuses total less than $50,000 will receive their cash bonuses in February, the source said.

Mark Lane, a Morgan Stanley spokesman, declined to comment on the matter.

(Reporting by Nadia Damouni, Jessica Toonkel, Lauren Tara LaCapra; editing by Jeffrey Benkoe and John Wallace)

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