Morgan Stanley Promotes 153 Bankers to Managing Director

Morgan Stanley has continued to bump up more bankers into more lucrative positions as the Wall Street giant revealed that it promoted 153 employees to managing director.

According to a MS spokesperson, the bank also promoted the largest amount of women in the firm's history, as 27% of the new group of MDs are female.

Around 64% of the promoted bankers are based in the US while 34% work in Europe, the Middle East it Africa. The remaining portion are based in Asia.

Meanwhile, MS will have to be the latest bank to pay out bonuses from 2012, due to deferral mechanisms.

According to a number of reports, MS will be paying staff these rewards in immediate cash, while still deferring at least half of the bonuses for any employees that have a total pay of at least $350,000 and incentive pay of $50,000.

On 17 January, MS will unveil its 2014 fourth quarter results and provide more details about headcount, salaries and bonuses.

The bank's rival, Goldman Sachs, has reported it's earnings and showed that it paid its employees $12.61bn in 2013, despite a significant fourth quarter drop in bond trading revenue.

According to the Wall Street giant's results for 2013, Goldman ratio of compensation and benefits, which includes salaries, discretionary compensation, amortization of equity awards and other items such as benefits, to net revenues for last year was 36.9%, compared with 37.9% for 2012.