Morgan Stanley staff to share $16bn bonus pot

US-based firm Morgan Stanley has set aside a $16 billion (£10 million) bonus pot for staff to share.

The investment firm’s 65,542 employees receive an average of $255,000, (£160,000) in pay and bonuses for 2010.

Morgan Stanley announced details of the compensation package as it reported its profits had more than tripled to $4.5 billion from $1.3 billion in 2009.

Revenue, out of which bonuses are paid, increased from $23.4 billion to $31.6 billion.

James Gorman, president and chief executive officer, said: “Morgan Stanley delivered improved performance across most of our businesses during the fourth quarter, and the strength of our premier client franchise was evidenced by participation in virtually every major transaction that helped raise capital for governments and leading corporations across the globe.

“I am pleased with the progress we made this year, but there is a great deal of work to do across Morgan Stanley’s global franchise as we look to deliver first-class service to our clients and long-term value to our shareholders and employees.”

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