February 27, 2020 / 10:37 PM / a month ago

MOVES-Morgan Stanley hires new deputy CFO, Raja Akram, from Citi

NEW YORK, Feb 27 (Reuters) - Morgan Stanley said on Thursday it hired Raja Akram to be its next deputy chief financial officer from rival bank Citigroup Inc, according to regulatory filings.

Akram, 47, will replace Paul Wirth, who plans to retire in May after more than a decade in the deputy CFO role, the bank said on Wednesday.

Akram will take over the job of deputy CFO, as well as chief accounting officer and controller upon Wirth’s departure.

Akram will receive base salary of $600,000 and a year-end bonus of $4.4 million in the form of cash and deferred compensation. He will also receive a one-time $5 million payment after he starts, in cash, deferred cash and restricted stock, according to filings. (Reporting by Elizabeth Dilts Marshall; Editing by Daniel Wallis)

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