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Morgan Stanley ups bonuses despite 31% fall in deal fees

Morgan Stanley's fall in dealmaking fees during the third quarter far exceeds its Wall Street rivals

CEO James Gorman is trying to navigate a 'mixed' market environment
CEO James Gorman is trying to navigate a 'mixed' market environment Photo: Bess Adler/Getty Images

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Morgan Stanley has kept pay in its investment bank steady and increased the amount it puts aside for bonuses despite a 31% slump in dealmaking fees so far in 2023.

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