Morgan
Stanley promotes 153 employees to managing director: WSJ
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[January 17, 2014]
(Reuters) — Morgan Stanley <MS.N> promoted 153 employees to the
title of managing director on Thursday, an increase from the 144
that were elevated to the position last year, the Wall Street
Journal reported, citing a company spokesman.
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The new class of managing directors includes 41 women, or 27 percent
of the total — the highest in the firm's history, Morgan Stanley
spokesman Wesley McDade Morgan told the Journal.
Dade did not immediately respond to a request by Reuters for
comment.
The New York-based firm's securities business, which includes its
trading and investment-banking arms, had the greatest share of the
new class, with 72 managing directors, according to the Journal
report. (http://link.reuters.com/ced26v)
Ninety-eight, or 64 percent of the total, work in the United States,
34 are employed in Europe, the Middle East or Africa, and 21 work in
Asia, the WSJ report said.
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Morgan Stanley will also pay out some deferred bonuses from 2012 to
senior bankers in immediate cash, Bloomberg reported separately on
Thursday, citing a person briefed on the plan.
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The bank will still defer at least half of the bonuses for any
employees that have a total pay of at least $350,000 and incentive
pay of $50,000, the unnamed source told Bloomberg.
Morgan Stanley is scheduled to report fourth-quarter earnings on
Friday.
(Reporting by Natalie Grover in
Bangalore; editing by Cynthia Osterman)
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