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Morgan Stanley Said to Reduce Some Banker Bonus Deferrals

Morgan Stanley, which deferred 100 percent of 2012 bonuses for many senior bankers, will pay some portion of awards for last year’s performance in immediate cash, according to a person briefed on the plan.

The bank will still defer at least half of bonuses for any employees who have both total pay of at least $350,000 and incentive pay of $50,000, said the person, who asked not to be named because the policy isn’t public. Mark Lake, a spokesman for New York-based Morgan Stanley, declined to comment.