Deals
Morgan Stanley Boosts Investment Bank Pay to $5.74 Billion
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Morgan Stanley raised compensation at its investment banking division 8 percent to $5.74 billion this year through September, even as the unit’s performance suffered amid market turmoil.
The institutional-securities unit, which handles trading, underwriting and merger advice, generated $12.4 billion in revenue this year through September, excluding accounting gains related to the drop in Morgan Stanley’s bonds and a loss in a Japanese joint venture. That was down from $12.7 billion on a comparable basis a year earlier.