Hints and tips:
Related Special Reports
...A senior banker has alleged that Morgan Stanley manufactured his job title to dupe European regulators into believing the bank had moved top staff to Frankfurt to comply with post-Brexit rules....
...“It’s a big world. I didn’t spend my whole life trying to be a CEO of a bank,” he said. “So I’m not going to spend the rest of my life continuing to be CEO of a bank.”...
...Remember, the Covid-19 pandemic caused a crisis of almost every other kind, but big US banks didn’t collapse....
...ICRIR chief commissioner Sir Declan Morgan said last year that “if it [immunity] is not compliant with the convention then we will not implement it”....
...The OCC also reportedly sent Morgan Stanley a letter, flagging that additional attention was needed in customer due diligence....
...Three more US regulators have opened investigations into how Morgan Stanley’s wealth management division handles potentially risky clients, according to a person familiar with the matter....
...The results highlighted the ability of Morgan Stanley’s wealth management business, which has been a driver of the bank’s growth in recent years, to add new client assets on a large scale....
...(JP Morgan first entered his collies in Westminster in 1893.)...
...Morgan Stanley has agreed to stay in its Canary Wharf office for another 14 years in a big boost to the east London financial centre that has been hit by high-profile tenant departures....
...“I’m a victim of Morgan Stanley abuse,” Ashley said, adding that he made a “personal guarantee” to offer “everything” subject to an agreement that the bank would not make similar demands in future....
...The bank’s upgrade follows its forecast last week that Brent crude prices will hit $90 a barrel by the third-quarter....
...There is quite a lot of hard work to be done.” According to people involved in UBS’s plans for its US wealth business, the bank is looking to replicate moves made by Morgan Stanley in recent years....
...Morgan Stanley imposed a $1bn margin call “without warning” in May 2021, leading Saxo Bank in turn to demand $900mn from Frasers....
...Kelleher, a veteran of Morgan Stanley, will be watching if UBS can compete with his former bank and the industry leader in wealth management....
...Morgan Stanley paid James Gorman $37mn in 2023 for his final 12 months as chief executive of the Wall Street bank, a 17.5 per cent increase from the prior year despite the bank’s lower profits....
...Goldman is the only US bank in its portfolio. At Goldman, Solomon is also seeking to achieve a similar strategic transformation to Morgan Stanley by expanding in asset and wealth management....
...Morgan Stanley is planning to cut hundreds of jobs at its wealth management business in the first major action under new chief executive Ted Pick, said a person familiar with the matter....
...Morgan Stanley paid James Gorman $37mn in 2023 for his final 12 months as chief executive of the Wall Street firm, a 17.5 per cent increase despite the bank reporting lower profits last year....
...Morgan Stanley profits fell by almost a third in the fourth quarter, as expenses rose 9 per cent, driven by in part by a variety of one-time charges including a legal settlement related to its trading business...
...The results capped a challenging year for the two banks, as a dearth of deals and public listings weighed on their fee income....
...“For the first time in a while, the housing market set-up looks constructive,” the bank added....
...Morgan Stanley profits fell by almost one-third in the final quarter of last year, a bigger than expected drop brought on in part by rising costs in its wealth management unit....
...Incoming Morgan Stanley chief executive Ted Pick is set to inherit a bank that is in far better shape than when his predecessor James Gorman took it on 14 years earlier....
...Morgan Stanley did not immediately respond to a request for comment and Bank of America declined to comment....
International Edition