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...Citigroup cut 5,000 jobs, Morgan Stanley shed 4,800, Bank of America 4,000, Goldman Sachs 3,200 and JPMorgan Chase 1,000. Collectively, the big Wall Street banks cut at least 30,000 staff in 2023....
...That’s not unusual, says Oliver Wyman’s Christian Edelmann....
...David Solomon, Goldman chief executive, described the operating conditions in 2023 as “not a B+ or an A environment” but expressed optimism for this year....
...The resulting losses to Archegos’s lenders, including Credit Suisse, Nomura, Morgan Stanley and UBS, totalled more than $10bn....
...Christian Bolu, banking analyst at Autonomous Research, said the appointment “makes sense” given that Pick oversees the bank’s trading and investment banking businesses, its most complex and riskiest activities...
...The KPS network would also allow South Korean companies to exploit opportunities in the space economy, which US investment bank Morgan Stanley has estimated will grow from $350bn in 2022 to more than $1tn...
...The focal point of Christian anxieties over money was Judas, whose greed led to Jesus’s crucifixion and his own suicide....
...“The downside is a perceived de-emphasis of wealth management within the company,” said Christian Bolu, banking analyst at Autonomous Research. “That certainly to investors is a risk....
...Whenever Conservative or Labour MPs tell me about their manifesto process, I rarely hear the names of either Isaac Levido or Morgan McSweeney, the two parties’ respective election strategists....
...The US military is also deploying more nuclear-capable bombers and submarines on temporary missions to South Korea and, last month, a US B-52H nuclear bomber appeared alongside fighter jets from the US,...
...Last year JPMorgan chief executive Jamie Dimon was paid $36mn, Goldman Sachs chief executive David Solomon was paid $31mn and outgoing Morgan Stanley chief executive James Gorman received $37mn....
...If one person in your household is an evangelical Christian and the other is an atheist, very difficult to come to some sort of agreement on how you’re gonna bridge that gap. Very, very difficult....
...Last week, the US and South Korea concluded a new round of joint exercises involving nuclear-capable US B-1B bombers, and a “breakthrough operation” with ground troops simulating a counterattack into North...
...Other banks that did business with Archegos, including Morgan Stanley and UBS, took substantial hits as a result of the forced fire sale....
...Now, the country produces almost 20mn b/d, roughly in line with consumption....
...Last year, Morgan Stanley chose to award the same bonus to three candidates even though only one took the top job....
...But this financialisation also sparked a “crisis of values”, Jackson adds, since money was considered intrinsically sinful by the Christian church....
...Deutsche Bank chief executive Christian Sewing said the thing that made him “nervous” was the state of capital markets. “They have been extremely resilient,” he said....
...Kwon has been using a China-made server robot rented from B-Robotics, a subsidiary of the country’s largest food delivery platform operator Woowa Brothers, for Won300,000 ($225) a month....
...The sum of buybacks and dividends in Japan is running at close to an all time annualised high of ¥25tn, according to Morgan Stanley....
...Isn’t that a contradiction in terms, like Christian gangsta rap or extreme soft rock? Turns out no, it’s not....
...Analysts at Morgan Stanley predict that the private debt market will more than double in size by 2027, to $2.3tn globally....
...The memo from chief executive Christian Sewing and chief operating officer Rebecca Short said other staff could work from home two days a week, but banned the common practice of staying away from the office...
...The US recently flew a B-52 nuclear-capable bomber over the Korean peninsula accompanied by South Korean fighter jets, the former top gun fighter pilot added....
...Morgan Stanley’s succession saga is complete. Now what? After 14 years under James Gorman, 33-year Morgan Stanley veteran Ted Pick has been selected as his heir....
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