Morgan Stanley is reportedly giving the three contenders floated as outgoing boss James Gorman’s successor special bonuses worth a whopping $20 million each — including Ted Pick, who wa…
Foul-mouthed banker considered top contender to replace Morgan Stanley CEOMorgan Stanley is reportedly giving the three contenders floated as outgoing boss James Gorman’s successor special bonuses worth a whopping $20 million each — including Ted Pick, who wasending months of speculation about who would fill Gorman’s shoes
Instead, Saperstein gained oversight of the firm’s asset-management business, in addition to his role as co-president, and Simkowitz — or “Simko” as he’s known as by his colleagues — replaced Pick as co-president alongside Saperstein. The performance stock units only pay out in full if the company achieves specific financial goals, though those targets weren’t immediately clear.
“The committee granted the awards in acknowledgment of the board’s assessment of the criticality to the continued success of Morgan Stanley of ensuring that each executive continues their outstanding leadership in their new roles,” the filing said.Representatives for Morgan Stanley did not immediately respond to The Post’s request for comment.Salary.com
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