Morgan Stanley gave Chairman and Chief Executive Officer James Gorman a compensation package for 2012 that’s 30 percent less than his 2011 award, excluding a new incentive package, a person familiar with the decision said.
Jeffrey C. Hammes has been re-elected as chairman of Kirkland & Ellis LLP’s global management executive committee. Hammes became chairman in 2010, and his second three-year term will start in February 2013.
Bank of New York Mellon Corp. and federal prosecutors are close to settling some claims in a government lawsuit accusing the bank of overcharging customers for foreign-exchange trading, according to a court filing.
Morgan Stanley, the sixth-largest U.S. bank by assets, paid Chairman and Chief Executive Officer James Gorman $10.5 million for 2011, a 25 percent decrease from the previous year, a person familiar with the decision said.