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Morgan Stanley cuts dealmaker bonuses by up to 15% after tough year for M&A

Morgan Stanley's move contrasts with rival Goldman Sachs, which is increasing bonuses for dealmakers

Ted Pick took over as CEO of Morgan Stanley on 1 January
Ted Pick took over as CEO of Morgan Stanley on 1 January Photo: Bloomberg via Getty Images

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Morgan Stanley has cut bonuses for dealmakers by 10-15% as investment bankers prepare for a difficult compensation round after a slump in M&A activity.

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