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Morgan Stanley Holders Get Conflicting Advice on Executive Pay Question

Two prominent proxy advisory firms offered diverging opinions on Morgan Stanley's (MS) executive compensation plan, with one telling shareholders to vote for it, while the other urged them to vote against the measure.The shareholder vote on compensation, often called a say-on-pay measure is nonbinding, though a rejection is often considered a harsh rebuke by a company's own investors.Glass Lewis & Co. recommended shareholders vote against the securities firm's executive pay plan, saying the company was "deficient in linking pay with performance" last year.In its proxy analysis published ahead of the firm's annual meeting on May 14, Glass Lewis said Morgan Stanley paid its named executive officers more than peers based on a study by executive compensation firm Equilar. The peer analysis included Morgan Stanley's big banking rivals such Goldman Sachs Group Inc. (GS), but also listed smaller firms such as Greenhill & Co. (GHL).Glass Lewis said Morgan Stanley's pay for performance grade dr...

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