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Mack's Mandatory Minimums
John Mack is Morgan Stanley's(MWD Quote) new $25 million man.
Over the next two years, the big Wall Street firm will pay its new leader a minimum "guaranteed" compensation package of $25 million, according to a regulatory filing.
The only way Mack's minimum pay package will be less than $25 million is if the average pay packages for his Wall Street peers is less than that sum. In other words, if the CEOs of Bear Stearns(BSC Quote), Lehman Brothers(LEH Quote), Goldman Sachs(GS Quote) and Merrill Lynch(MER Quote) make less than $25 million, Morgan Stanley will make a downward adjustment in Mack's minimum pay package. ...
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