Last year, he earned a $40 million bonus, according to Bloomberg. Despite Mack's personal sacrifice, the New York-based investment bank is making sure that its other employees will be well compensated at the end of the year, with the average bonus rising to be an estimated $205,802 from
$194,592 last year. "If you were to normalize our business and take out this
$9.4 billion charge, you would see that we had a record year
across the whole enterprise," chief financial officer Colm
Kelleher said in an interview with Bloomberg Wednesday. "We felt it was
inappropriate, as our board of directors did as well, for
employees who delivered sterling results and a very strong
performance to suffer." — Gerald Magpily
See Bloomberg article
See TheDeal.com: Morgan Stanley writes down $9.4B, sells stake
