From: Ike Groff <a. To: Subject: RE: Bonuses Are Sinking at Morgan Stanley Date: Tue, 17 Jan 2012 18:23:59 +0000 You got it. Original Message From: [mailto• Sent: Tuesday, January 17, 2012 1:22 PM To: Ike Groff Subject: Re: Bonuses Are Sinking at Morgan Stanley its not easy out there...some top execs to receive nothing! On Jan 17, 2012, at 12:40 PM, Ike Groff wrote: > By AARON > LUCCHETTII > TTIfibylinesearch=true> And ALISON > TUDOR > inesearch=true> Responding to a difficult environment for Wall > Morgan Stanley > plans to tell employees this week that bonuses will drop sharply, with cash payouts capped at $125,000, according to people familiar with the matter. > Some top executives will receive nothing now, deferring their 2011 payouts until the end of this year. > The New York-based bank, run by Chief Executive James Gorman, will defer the portion of any bonus past $125,000 until December 2012 and December 2013, according to one of the people familiar with the matter. Mr. Gorman and the other nine members of Morgan Stanley's operating committee, the firm's ruling body, will defer their entire bonuses for the year, this person said, collecting them later. > The decision, approved by the firm's compensation committee last week, marks the latest move by a Wall Street bank to keep costs down in an environment of increasing regulatory pressure and challenged revenues. > Deferring bonuses has become a frequent occurrence at Morgan Stanley and other Wall Street firms. Regulators often prefer banks to defer bonuses for their employees. They believe it discourages the kind of excessive risk-taking that helped bring about the 2008 financial crisis. Deferring part of an employee's pay, either in stock or cash, can also ease pressure on a firm's compensation expenses, making it a popular move in a bad market environment. > As banks report fourth-quarter results this month and make bonus decisions for 2011, total compensation is likely