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Morgan Stanley eyes pay cut

Morgan Stanley building

Morgan Stanley wants to pay out a smaller portion of wealth management revenue to the retail brokers who generate it, the final and perhaps most difficult front in Chief Executive James Gorman's drive to reduce staff costs across the bank.

Morgan Stanley brokerage force has new leader

Morgan Stanley HQ

Six weeks after being named to lead Morgan Stanley's brokerage force of more than 16,000 financial advisers, managing director Shelley O'Connor has streamlined the sales organization and replaced some key executives.

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