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...Additional reporting by James Fontanella-Khan...
...Pick said the bank was not pursuing further deals, after its previous acquisitions such as ETrade and Eaton Vance....
...Morgan Stanley has named Ted Pick as its new chief executive, replacing James Gorman who will bow out from the role after leading the Wall Street bank for nearly 14 years and transforming it into a wealth...
...Outgoing CEO James Gorman has racked up an enviable 14-year record....
...The deals were the purchases of online trading platform ETrade and money manager Eaton Vance....
...“That’s obviously below recent quarters,” chief executive James Gorman said on a call with analysts. “It’s consistent with what I’ve been saying for a long time, these numbers will bounce around.”...
...“There’s a nervousness in the market and people aren’t offering [on a property] unless they hear someone else has made an offer on it,” says James Waight of agent John D Wood....
...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....
...Okray served as the CFO of Eaton Corporation and succeeds Anastasiya Pasterick, who left the role after six months....
...Gorman has doubled down on wealth and asset management with the acquisitions in recent years of ETrade and Eaton Vance....
...As led by James Gorman, the Wall Street group has long commanded a premium over investment banking rival Goldman Sachs, thanks to the former’s wealth and asset management businesses....
...Morgan Stanley chief executive James Gorman has warned investment banking revenues may not recover until next year after the Wall Street group’s net profits fell almost a fifth in the first quarter....
...After 14 years under James Gorman, 33-year Morgan Stanley veteran Ted Pick has been selected as his heir. The race appears to have been a notably clean one....
...Simkowitz runs the smallest of Morgan Stanley’s three businesses — investment management makes up about 10 per cent of the bank’s revenues — but the bank’s recent purchase of Eaton Vance has given him a...
...The numbers also highlighted the impact of chief executive James Gorman’s efforts to diversify into wealth and asset management....
...In investment management, which houses Eaton Vance following Morgan Stanley’s acquisition of the money manager last year, revenue shrank 20 per cent to $1.2bn, below estimates of $1.4bn....
...“Under James, I’m very bullish,” he said. “I still keep my stock. I haven’t sold any. So I believe in him and what he’s doing.”...
...Morgan Stanley paid its chief executive James Gorman $35m for his work in 2021, up $2m from a year earlier and more than Wall Street rival Jamie Dimon....
...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...
...In investment management, revenue was up marginally to $1.3bn, bolstered by the integration of asset manager Eaton Vance, a deal that was completed in March 2021....
...Once the Chapter 11 filing is complete, Cineworld’s biggest lenders — which include US investment managers Invesco, Eaton Vance and State Street — will almost certainly seize control of the company....
...In investment management, revenue swelled 59 per cent to $1.7bn, bolstered by the integration of Eaton Vance....
...GE’s split could also prompt other conglomerates such as 3M, Eaton and Emerson to simplify their portfolios, said Dray. Frank Aquila, global head of M&A at law firm Sullivan & Cromwell, agreed....
...Sir James Mackey, Northumbria’s chief executive, is also the NHS’s national director of elective recovery and is aware that, in return for the money, the health service must meet a commitment to deliver...
...Year-on-year revenue comparisons were flattered by the integration of Morgan Stanley’s recent purchases of ETrade and Eaton Vance....
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