Morgan Stanley, Goldman set biggest bonus bumps for Asia bankers as deal flows rebound

Morgan Stanley and Goldman Sachs investment bankers are getting the biggest bonus bumps among peers in Asia after revenue from the region climbed by about a third on increased deal flows.

The total compensation for Morgan Stanley’s investment bankers in Asia was boosted by about 20 per cent, while at Goldman Sachs it will rise around 15 per cent, people familiar with the matter said, asking not to be identified because bonus decisions aren’t made public. The numbers for UBS Group in the region rose about 10 per cent, while at JPMorgan Chase and Citigroup, they climbed about 6 per cent and 3 per cent, respectively.

Wall Street firms generated record investment banking revenue in the region as fiscal and monetary stimulus in the wake of the pandemic helped stoke stock and bond sales and trading. Cash has been pouring into China at a record clip as the Communist Party-ruled nation was able to control the virus and, unlike other major economies, eke out an expansion.