Good day ladies and gentlemen and welcome to the Capital One Fourth Quarter 2012 Earnings Conference. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer period. Thank you.
Morgan Stanley gave Chairman and Chief Executive Officer James Gorman a compensation package for 2012 that's 30% less than his 2011 award, excluding a new incentive package, a person familiar with the decision said.