Morgan Stanley is raising bonuses for top investment bankers in Asia by up to 40% after a 50% surge in regional revenue, excluding Japan, to over USD600m, sources told Bloomberg. Senior bankers saw average increases in the high-teens, with top performers in markets like India and Australia receiving hikes of 30%-40%. The bonus pool grew 20%, contrasting with JPMorgan’s 10% rise for senior bankers. Executive directors and vice presidents at Morgan Stanley received 10%-15% higher bonuses, while about 20% of managing directors received none. Banks globally are boosting payouts amid a rebound in dealmaking, with Morgan Stanley leading Asia’s equity sales in 2024, managing significant deals such as JD.com’s USD3.6bn share sale and Hyundai Motor India’s USD3.3bn offering.