{"id":77965,"date":"2023-10-28T20:27:43","date_gmt":"2023-10-29T00:27:43","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/morgan-stanley-gives-new-ceo-ted-pick-2-executives-20-million-bonuses\/"},"modified":"2023-10-28T20:27:47","modified_gmt":"2023-10-29T00:27:47","slug":"morgan-stanley-gives-new-ceo-ted-pick-2-executives-20-million-bonuses","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=77965","title":{"rendered":"Morgan Stanley gives new CEO Ted Pick, 2 executives $20 million bonuses"},"content":{"rendered":"
\n
\n

\u00a9 Reuters. FILE PHOTO: A screen displays the trading information for Morgan Stanley on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., January 19, 2022. REUTERS\/Brendan McDermid\/File Photo<\/span>
\n<\/i>\n<\/div>\n

By Tatiana Bautzer and Manya Saini<\/p>\n

(Reuters) -Morgan Stanley gave its incoming CEO Ted Pick and the two other executives considered for the top job one-time bonuses of $20 million each, the bank said in a filing on Friday.<\/p>\n

The performance-linked stock awards for Pick, Co-President Andy Saperstein and incoming Co-President Dan Simkowitz were based on fair value calculations of the bank’s current stock price. The bonuses vest in 2027.<\/p>\n

Earlier this week, Pick won the race to succeed long-time CEO James Gorman on Jan. 1. He promised to stick to the blue-chip Wall Street firm’s strategy as it navigates a deal-making slump and uncertain economic outlook.<\/p>\n

Pick, 54, leads Morgan Stanley’s institutional securities unit, which houses its powerhouse investment banking and trading operations. The three-decade Morgan Stanley veteran started his career at the bank and came up the ranks to run trading, equity capital markets and fixed income.<\/p>\n

Saperstein, 56, will oversee wealth and investment management on Jan. 1. Simkowitz, 57, will assume institutional securities from Pick after previously leading investment management.<\/p>\n

It is unusual for Wall Street CEO candidates to stay on if they are not selected, and the bonuses offered at Morgan Stanley break from that tradition.<\/p>\n

Pick described Saperstein and Simkowitz as “terrific friends,” in an interview with Reuters, while outgoing CEO Gorman praised the three executives.<\/p>\n

“CEO changes don’t occur in a vacuum, and there is the chance for other management changes and\/or turnover,” Wells Fargo Mike Mayo wrote in a note this week.<\/p>\n

Gorman will become executive chairman and may stay up to a year to help with Pick’s transition.<\/p>\n

Gorman was named CEO in January 2010 at the same time as his counterpart Brian Moynihan at Bank of America. Both executives, along with JPMorgan Chase (NYSE:) Jamie Dimon, have led their respective firms through the wreckage of the financial crisis. Since becoming CEO in 2010, Gorman has transformed Morgan Stanley, creating a wealth management behemoth and making transformative acquisitions of broker E*Trade and asset manager Eaton <\/span><\/span> (NYSE:) Vance.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. FILE PHOTO: A screen displays the trading information for Morgan Stanley on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., January 19, 2022. REUTERS\/Brendan McDermid\/File Photo By Tatiana Bautzer and Manya Saini (Reuters) -Morgan Stanley gave its incoming CEO Ted Pick and the two other executives considered […]<\/p>\n","protected":false},"author":1,"featured_media":43159,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-77965","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nMorgan Stanley gives new CEO Ted Pick, 2 executives $20 million bonuses | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. FILE PHOTO: A screen displays the trading information for Morgan Stanley on the floor of the New York Stock Exchange (NYSE) in New York City,\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=77965\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Morgan Stanley gives new CEO Ted Pick, 2 executives $20 million bonuses | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"\u00a9 Reuters. FILE PHOTO: A screen displays the trading information for Morgan Stanley on the floor of the New York Stock Exchange (NYSE) in New York City,\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=77965\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-29T00:27:43+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-10-29T00:27:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/08\/LYNXNPEC6J0XD_L.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"728\" \/>\n\t<meta property=\"og:image:height\" content=\"485\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=77965#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=77965\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"Morgan Stanley gives new CEO Ted Pick, 2 executives $20 million bonuses\",\"datePublished\":\"2023-10-29T00:27:43+00:00\",\"dateModified\":\"2023-10-29T00:27:47+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=77965\"},\"wordCount\":382,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=77965#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=77965\",\"url\":\"https:\/\/ifintechworld.com\/?p=77965\",\"name\":\"Morgan Stanley gives new CEO Ted Pick, 2 executives $20 million bonuses | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-10-29T00:27:43+00:00\",\"dateModified\":\"2023-10-29T00:27:47+00:00\",\"description\":\"\u00a9 Reuters. FILE PHOTO: A screen displays the trading information for Morgan Stanley on the floor of the New York Stock Exchange (NYSE) in New York City,\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=77965#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=77965\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=77965#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Morgan Stanley gives new CEO Ted Pick, 2 executives $20 million bonuses\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ifintechworld.com\/#website\",\"url\":\"https:\/\/ifintechworld.com\/\",\"name\":\"Repay Down\",\"description\":\"Latest Personal Finance News, Tips and Updates\",\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ifintechworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ifintechworld.com\/#organization\",\"name\":\"Repay Down\",\"url\":\"https:\/\/ifintechworld.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"width\":558,\"height\":90,\"caption\":\"Repay Down\"},\"image\":{\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/ifintechworld.com\"],\"url\":\"https:\/\/ifintechworld.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Morgan Stanley gives new CEO Ted Pick, 2 executives $20 million bonuses | iFintechWorld","description":"\u00a9 Reuters. FILE PHOTO: A screen displays the trading information for Morgan Stanley on the floor of the New York Stock Exchange (NYSE) in New York City,","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ifintechworld.com\/?p=77965","og_locale":"en_US","og_type":"article","og_title":"Morgan Stanley gives new CEO Ted Pick, 2 executives $20 million bonuses | iFintechWorld","og_description":"\u00a9 Reuters. FILE PHOTO: A screen displays the trading information for Morgan Stanley on the floor of the New York Stock Exchange (NYSE) in New York City,","og_url":"https:\/\/ifintechworld.com\/?p=77965","og_site_name":"iFintechWorld","article_published_time":"2023-10-29T00:27:43+00:00","article_modified_time":"2023-10-29T00:27:47+00:00","og_image":[{"width":728,"height":485,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/08\/LYNXNPEC6J0XD_L.jpg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ifintechworld.com\/?p=77965#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=77965"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"Morgan Stanley gives new CEO Ted Pick, 2 executives $20 million bonuses","datePublished":"2023-10-29T00:27:43+00:00","dateModified":"2023-10-29T00:27:47+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=77965"},"wordCount":382,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=77965#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=77965","url":"https:\/\/ifintechworld.com\/?p=77965","name":"Morgan Stanley gives new CEO Ted Pick, 2 executives $20 million bonuses | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-10-29T00:27:43+00:00","dateModified":"2023-10-29T00:27:47+00:00","description":"\u00a9 Reuters. FILE PHOTO: A screen displays the trading information for Morgan Stanley on the floor of the New York Stock Exchange (NYSE) in New York City,","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=77965#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=77965"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=77965#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"Morgan Stanley gives new CEO Ted Pick, 2 executives $20 million bonuses"}]},{"@type":"WebSite","@id":"https:\/\/ifintechworld.com\/#website","url":"https:\/\/ifintechworld.com\/","name":"Repay Down","description":"Latest Personal Finance News, Tips and Updates","publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ifintechworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ifintechworld.com\/#organization","name":"Repay Down","url":"https:\/\/ifintechworld.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","width":558,"height":90,"caption":"Repay Down"},"image":{"@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","caption":"News Room"},"sameAs":["https:\/\/ifintechworld.com"],"url":"https:\/\/ifintechworld.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/77965","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=77965"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/77965\/revisions"}],"predecessor-version":[{"id":77966,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/77965\/revisions\/77966"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/43159"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=77965"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=77965"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=77965"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}