February 25th in Bonuses, Morgan Stanley by Editor .
Morgan Stanley’s John Mack – Bankers Still Paid Too Much
Having not taken a bonus for the past three years, John Mack thinks he’s one of the few that gets it…
Mr Mack, speaking at Queens University in North Carolina told an audience,
“I still don’t think the industry gets it.”
And.
“If we don’t do something, the government will do something.”
But who’s actually listening?
BBC: Mr Mack – speaking at Queens University in North Carolina – cited the example of a trader that recently left Morgan Stanley.
The 28-year-old trader’s unit had earned as much as $400m for the bank.
Morgan Stanley had offered to pay him $11m, but the trader left to join a hedge fund that paid him $25m, Mr Mack said.
