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3/28/2019, 10:38 PM (Source: TeleTrader)
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Morgan Stanley's Kelleher to retire in three months

Morgan Stanley informed the Securities and Exchange Commission on Thursday that Colm Kelleher, president and chief of operations, decided to retire on June 30.

The executive will remain on the payroll as a senior advisor "on an as needed basis, working with key clients and as a consultant, the filing reveals. The new appointment was set for five years but the statement also points out that the management may cancel it "in its discretion at any time." The lender said the president's bonus would be decided on at year-end in the form of cash and deferred compensation. The advisory role will pay $250,000 a year, it added.

The giant bank headquartered in Manhattan stressed Kelleher is obligated not to engage in competitive activity, according to the contract from last year.

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