Morgan Stanley to overhaul executive pay

Written by Reuters | New York | Updated: Dec 31 2009, 05:10am hrs
Morgan Stanley plans to overhaul pay plans for its top executives, deferring more of their compensation over time and benchmarking pay against rival firms, the Wall Street Journal reported on Monday, citing people familiar with the matter. Senior executives may receive about one quarter of their 2009 pay in cash, with the rest coming as deferred stock.

Morgan Stanley could not be immediately reached. The Journal said Morgan Stanleys compensation committee has met several times in recent weeks to discuss pay plans.

One proposal being considered would have most of the top 30 Morgan executives submit 65% or more of their pay to clawbacks, or the possibility of returning money in the event of future losses.