Morgan Stanley has agreed severance packages worth nearly $100m (€80m) for three senior executives. The cash payment to Philip Purcell who is departing as chairman and chief executive, will be $44m.

According to a US regulatory filing, Purcell, who resigned on June 13 after almost three months of personal attacks from a group of former Morgan Stanley bankers, will receive a cash "bonus payment" of $43,959,346.