Hints and tips:
...The business, which has been central to the bank’s growth in recent years, was already in the sights of the Federal Reserve over money laundering controls....
...The cuts affect employees primarily in support functions, including at the ETrade business the group acquired in 2020, and will affect less than 1 per cent of the division’s roughly 40,000 employees, the...
...Pick said the bank was not pursuing further deals, after its previous acquisitions such as ETrade and Eaton Vance....
...The deals were the purchases of online trading platform ETrade and money manager Eaton Vance....
...“Morgan Stanley made a killing with the Smith Barney deal, and they have added to that with Solium, ETrade and Eaton Vance, giving them much more products to sell to their clients,” said Filippo Alloatti...
...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....
...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....
...Morgan Stanley’s success in wealth management has been aided by the acquisition of online trading platform ETrade in 2020 and many of the bank’s core clients are high-net-worth customers, rather than the...
...strategy by buying ETrade and Eaton Vance....
...He transformed a wobbly investment bank weakened by the 2008 financial crisis into a financial advisory powerhouse with a series of huge acquisitions....
...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 helped reshape the bank through a string of wealth acquisitions including online brokerage ETrade Financial in 2020 and asset manager Eaton Vance in 2021....
...Gorman has doubled down on wealth and asset management with the acquisitions in recent years of ETrade and Eaton Vance....
...In recent years, Gorman has grown Morgan Stanley’s money management operations with deals for ETrade and Eaton Vance, and he told analysts on Wednesday that “we’ll do more acquisitions”....
...The move seemed decisive in a long industry-wide price war, letting it outflank low-cost competitors such as ETrade and TD Ameritrade and become the largest retail brokerage in the US with $7.4tn in client...
...Revenues in wealth management, which includes online trading platform ETrade, were up 6 per cent to more than $6.6bn....
...Revenues in wealth management, which includes online trading platform ETrade, were up 3 per cent at $6.1bn, in line with estimates for $6.1bn....
...Even better, most of them hold their shares through ETrade, the online trading platform that Morgan Stanley bought in 2020 to give it a leg up with younger investors....
...stock market multiple while investors have cheered Gorman for creating a leading wealth and asset management franchise by building on the acquisitions of Smith Barney and Dean Witter with further deals for ETrade...
...Revenues in wealth management, which includes online trading platform ETrade, were down 6 per cent at $5.7bn, missing estimates for $6bn....
...The bank had previously said it hoped for an extra $500mn in net interest income in 2022....
...Revenues in wealth management, which contains ETrade, grew 10 per cent to $6.25bn from $5.7bn a year earlier....
...acquisition — perhaps by following the lead of Morgan Stanley, which shifted its business mix after the 2008 financial crisis with the purchases of wealth manager Smith Barney, online trading platform ETrade...
...Under Gorman, chief executive since 2010, Morgan Stanley has expanded into businesses such as asset and wealth management, bolstered by chunky acquisitions including ETrade and Eaton Vance, in an effort...
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