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

Related Topics

Stocks

   
Border Security Force (BSF) soldiers ride their camels as they rehearse for the "Beating the Retreat" ceremony in New Delhi January 27, 2015. REUTERS/Ahmad Masood

"Beating The Retreat" Rehearsals

Rehearsals are on for "Beating the Retreat" ceremony which symbolises retreat after a day on the battlefield, and marks the official end of the Republic Day celebrations.  Slideshow 

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)

FILED UNDER:
Photo

After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.

Reuters Showcase

Vodafone Ruling

Vodafone Ruling

Government will not appeal Vodafone tax ruling   Full Article 

Indian Railways

Indian Railways

Private refiners compete with state firm to sell diesel to railways   Full Article 

Ranbaxy Results

Ranbaxy Results

Dec-quarter net loss widens on forex loss  Full Article 

Market Eye

Market Eye

Sensex, Nifty retreat from record highs on profit-taking.  Full Article 

Tech Talk

Tech Talk

Apple takes high road in China smartphone standoff with Xiaomi.  Full Article 

Business Strategy

Business Strategy

Uber scraps commissions for its New Delhi taxis.  Full Article 

Job Cuts

Job Cuts

Sony to cut 1,000 jobs in smartphone business - sources.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage