EXCLUSIVE – Morgan Stanley cuts bankers, bonuses as deals, IPOs stall: sources

FILE PHOTO - The logo of Morgan Stanley is seen at an office building in ZurichMorgan Stanley laid off a number of senior investment bankers last week and cut bonuses by roughly 15 percent because of a decline in revenue from dealmaking and capital raising across Wall Street, people with knowledge of the matter told Reuters. Individual bankers were awarded different amounts depending on performance and geographic region, though many received a smaller paycheck for 2016, said the sources on Thursday, who were not authorized to discuss compensation publicly. Morgan Stanley, which ranked fourth for investment banking fees last year, cut more than 20 managing directors from its investment banking division globally, representing about 5 percent of the total, the sources said.


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