Investor Presentaiton
MORGAN STANLEY BANK ASIA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
Year ended 31 December 2020
33. RELATED PARTY DISCLOSURES (CONTINUED)
Key management compensation
Key management personnel are defined as those persons having authority and responsibility for planning,
directing and controlling the activities of the Company. Key management personnel include the Board
of Directors of the Company.
Key management personnel compensation, in respect of their services rendered, comprised the following:
Short-term employee benefits
Post-employment benefits
Share-based payments
Other long-term employee benefits
2020
US$'000
2019
US$'000
7,336
4,674
84
77
7,104
5,305
3,322
3,344
17,846
13,400
The share-based payment costs disclosed above reflect the amortisation of equity-based awards granted
to key management personnel over the last three years and are therefore not directly aligned with other
staff costs in the current year.
Key management personnel compensation is borne by Morgan Stanley Group undertakings in both the
current and prior years. Management recharges (if any) in respect of key management personnel
compensation borne by other Morgan Stanley Group undertakings are included in 'Management charges
from other Morgan Stanley Group undertakings relating to staff costs' within ‘Other expense', as
disclosed in note 8.
In addition to the above, directors not in the Morgan Stanley Group provided key management personnel
services to the Company for which a fee of US$169,000 was charged for the year (2019: US$168,000)
and of which nil was accrued at 31 December 2020 (2019: US$Nil).
Transactions with related parties
The Morgan Stanley Group conducts business for clients globally through a combination of both
functional and legal entity organisational structures. Accordingly, the Company is closely integrated with
the operations of the Morgan Stanley Group and enters into transactions with other Morgan Stanley
Group undertakings on an arm's length basis for the purposes of utilising financing, trading and risk
management, and infrastructure services. The nature of these relationships along with information about
the transactions and outstanding balances is given below. Settlement of the outstanding balances will be
made in cash.
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