Hints and tips:
...In 2020, the bank lost out to Morgan Stanley in the $7bn bidding war to buy US investment manager Eaton Vance....
...Gorman revamped Morgan Stanley to focus on wealth and asset management, and crystallised his pivot with quick-fire deals for online trading platform ETrade and asset manager Eaton Vance....
...This bucked a broader trend at rivals such as Goldman Sachs and JPMorgan Chase, which either reported slight increases or only modest declines....
...Gorman has suggested Morgan Stanley could find more opportunities outside the US, potentially by making further acquisitions following on from its deals for ETrade and Eaton Vance....
...Recently, he worked on Morgan Stanley’s acquisitions of ETrade and Eaton Vance, two deals that have been central to its growth in asset and wealth management....
...Gorman has doubled down on wealth and asset management with the acquisitions in recent years of ETrade and Eaton Vance....
...Morgan Stanley acquired fund manager Parametric in 2021 through its $7bn acquisition of Eaton Vance. JPMorgan had also bid to buy Eaton Vance, the Financial Times has previously reported....
...In investment banking, Morgan Stanley has struggled to break JPMorgan Chase and Goldman’s stranglehold as the top fee-earning firms....
...Rivals JPMorgan Chase, Bank of America and Citigroup on Friday reported that investment banking revenues in the latest quarter more than halved from a year ago....
...Jamie Dimon’s JPMorgan Chase lost out to Morgan Stanley in the $7bn bidding war to buy US investment manager Eaton Vance, a revelation that highlights the fierce competition among Wall Street powerhouses...
...JPMorgan Chase last year agreed to pay US regulators a record $200mn for failing to keep records of staff communications on personal devices....
...By comparison, rival JPMorgan Chase reported a ROTCE of 23 per cent in 2021....
...Rival JPMorgan Chase on Wednesday also reported a drop in investment banking revenue, as did Goldman Sachs on Thursday....
...Year-on-year comparisons were flattered by the integration of the purchase of Eaton Vance which was completed in March 2021....
...JPMorgan Chase on Thursday said it had lifted pay for Dimon, the bank’s chief executive since 2005, by $3m to $34.5m for 2021....
...Last year, Morgan Stanley completed its acquisition of Eaton Vance for $7bn after beating JPMorgan Chase in a competitive bidding war, while T Rowe Price bought credit manager Oak Hill Advisors for up to...
...By comparison, rival JPMorgan Chase on Wednesday reported a 52 per cent rise in investment banking fees that totalled $3.3bn....
...Goldman’s current Rote target lags behind competitors Morgan Stanley and JPMorgan Chase....
...JPMorgan Chase has made more than 30 acquisitions in 2021, putting America’s biggest bank by assets on track for its largest buying spree in years....
...In 2020, Morgan Stanley created one of the world’s biggest asset managers by scooping up US investment manager Eaton Vance....
...Earnings this quarter were flattered by the recent integration of online trading platform ETrade and money manager Eaton Vance, which Morgan Stanley acquired last year....
...Rival JPMorgan Chase in earnings on Wednesday reported a 52 per cent rise in investment banking fees that totalled $3.3bn....
...Morgan Stanley then acquired the wealth business Smith Barney as well as brokerage ETrade and asset manager Eaton Vance....
...As part of investment group Eaton Vance, Parametric was acquired by investment bank Morgan Stanley last year in a deal that kickstarted a flurry of activity....
...Goldman was the top fee-earning bank for M&A in the first six months of this year, with JPMorgan Chase coming in second, according to Refinitiv data....
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