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Prelude to the Best Sommelier of Canada Contest | SaltWire -Morgan Stanley gave its incoming CEO Ted Pick and the two other executives considered for the top job one-time bonuses of $20 million each, the bank said in a filing on Friday.
Earlier this week, Pick won the race to succeed long-time CEO James Gorman on Jan. 1. He promised to stick to the blue-chip Wall Street firm's strategy as it navigates a deal-making slump and uncertain economic outlook. Saperstein, 56, will oversee wealth and investment management on Jan. 1. Simkowitz, 57, will assume institutional securities from Pick after previously leading investment management.
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