The two Morgan Stanley London bankers whose bonuses could be enormous
As we've noted, Morgan Stanley's bonuses haven't been the best. Recipients say there have been wide discrepancies between the haves and the have nots, with juniors and mid-ranking bankers paid less than expected, and senior people experiencing wide disparities in their numbers.
However, there are at least two Morgan Stanley bankers, both based in London, who should be happier than the rest: Nick Bishop and Teodor Todorov.
Bishop and Todorov run Morgan Stanley's financial sponsors group in Europe, a role they were co-promoted into in 2022, after Massimiliano Ruggieri, the previous head of financial sponsors at the bank, was made head of investment banking for EMEA.
Speaking today, Morgan Stanley CEO Ted Pick suggested the two men have done well. In 2024, Morgan Stanley's EMEA sponsors bankers had one of their strongest years for a decade, said Pick, without mentioning Bishop or Todorov by name.
Information provider Dealogic says Morgan Stanley went from fourth to third globally for financial sponsors revenues last year. In Europe, Dealogic says Morgan Stanley generated $386m of financial sponsors revenues last year, and ranked third, up from 8th in 2023 when they generated a mere $142m.
Bishop joined Morgan Stanley from UBS in 2015. Todorov has worked at the bank for 20 years.
Not everyone is certain that the two men are deserving of dramatically higher pay, though. One source says Morgan Stanley's EMEA financial sponsors team has historically been weak. - "Revenues have increased, but from a low bar."
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