Morgan Stanley's John Mack for the moment has bragging rights for the largest bonus ever bestowed upon a Wall Street CEO. He was awarded a $40 million package of stock and options:
Mack, 62, was granted 461,821 shares valued at $36.2 million as of Dec. 12, the company said today in a filing with the U.S. Securities and Exchange Commission. He also received 178,945 options to buy Morgan Stanley shares, which the New York-based firm valued at about $4 million.
The payout, 44 percent more than what Morgan Stanley awarded Mack last year, eclipses the $38.3 million in total compensation Henry Paulson received in 2005 as CEO of Goldman Sachs Group Inc. Morgan Stanley's stock is having its best year since 2003 after Mack put the firm on course for record earnings.
Co President Zoe Cruz received $17 million in stock and $1.92 million in stock. Robert Scully, the other Co-President received $11.4 million in stock and $1.28 million in options. David Sidwell, the CFO, got $7.98 million in stock and $890K in options; Chief Legal Officer and former enforcement head at the SEC, Gary Lynch, got $7.04 million in stock and $793K in options. Head of global operations and technology, Eileen Murray, Chief Administrative Officer Thomas Nides and Controller Paul Wirth received smaller amounts.
Morgan Stanley Awards Chief Mack $40 Million Bonus - Bloomberg
kudos to the big shots. any idea how the 2003 associates did at Morgan? My wait is killing me, still have a month to go...
Posted by: luckykitty | December 16, 2006 at 01:48 PM