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...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.”...
...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 bank’s upgrade follows its forecast last week that Brent crude prices will hit $90 a barrel by the third-quarter....
...“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....
...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....
...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....
...Kelleher, a veteran of Morgan Stanley, will be watching if UBS can compete with his former bank and the industry leader in wealth management....
...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 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...
...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 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....
...“For the first time in a while, the housing market set-up looks constructive,” the bank added....
...The results capped a challenging year for the two banks, as a dearth of deals and public listings weighed on their fee income....
...Morgan Stanley did not immediately respond to a request for comment and Bank of America declined to comment....
...According to the SEC, in June 2018 Morgan Stanley was invited along with other banks to bid for a block of Medpace shares to be sold by private equity firm Cinven (“Selling Shareholder A” in its report,...
...Saxo Bank, which in turn used the US bank for execution and clearing....
...In a statement, Morgan Stanley said: “We are pleased to resolve these investigations and are confident in the enhancements we have made to our controls around block trading”....
...Morgan Stanley has been under investigation by the SEC over its handling of block trades — a lucrative business that the bank has dominated for years — since 2019, while the US attorney’s office in Manhattan...
...Morgan Stanley co-president Andy Saperstein, who was until last month a leading contender to be the Wall Street bank’s next chief executive, told employees on Tuesday that he had been diagnosed with cancer...
...Teamviewer: The German company gained 3.9 per cent after announcing a share buyback. Siemens Energy: Shares fell 2.4 per cent after JP Morgan cut its rating on the stock to underweight from neutral....
...This chart from JP Morgan Asset Management isn’t exactly titled BTFD, but it does remind us that when the S&P 500 has just lost a cool quarter in value, the most successful thing to do has usually been to...
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