Hints and tips:
...One person who attended the party joked that it was grander than a state banquet for King Charles III at the Palace of Versailles a week earlier, Will Louch, Sarah White and I report in this deep dive....
...Days before the event, Ardian’s then-chief operating officer Jérémie Delecourt resigned, in a move that took employees by surprise....
...The group’s search committee had sounded out Goldman president John Waldron, former Morgan Stanley chief operating officer Jonathan Pruzan and Citigroup chief financial officer Mark Mason, people briefed...
...Lazard has promoted Nathan Paul to global chief operating officer and vice- chair of its asset management business, DD can reveal....
...Two scoops to start: First, Morgan Stanley has hit bankers with financial penalties running up to more than $1mn per employee for conducting official business on WhatsApp and other messaging platforms....
...Separately, Ariel has hired Arielle Patrick as its new chief communications officer....
...And as sure as night follows day there will be a recession”, and the exhaustion he felt after 13 years of “massive stress” since he became chief financial officer of Morgan Stanley in 2007....
...We anticipate preliminary data to enable a Phase III trial start in July....
...[are] a drop in the ocean,” said Morgan Stanley analyst Magdalena Stoklosa....
...Here’s Morgan Stanley’s summary: A mixed call from G4S sees little recovery in the shares....
...(iii) Such a property wealth tax would cause a large industry of tax avoidance....
...John Pottage, chief scientific and medical officer of ViiV Healthcare, said: “People with HIV are living longer and more productive lives....
...Morgan Ricks has the best discussion of this phenomenon in The Money Problem....
...“Our cost of capital is much lower than that [10 per cent],” says Tetsu Ozaki, Nomura’s group chief operating officer....
...The Sport of Kings, by CE Morgan, Fourth Estate, RRP£16.99/Farrar, Straus and Giroux, RRP$27 This epic feat of storytelling about the lives of a horse-breeding dynasty in Kentucky confirms Morgan as a torchbearer...
...Wholesale banking balance sheets supporting traded markets have decreased by 40 per cent in risk weighted terms since 2010, according to a recent report by Oliver Wyman and Morgan Stanley....
...The new Basel III standard announced in 2010 requires a 7 per cent capital ratio by 2019....
...(iii) Brexit (see below)."...
...“When you look at how much lower leverage is, we have a big chunk out of the industry,” says Ruth Porat, Morgan Stanley’s chief financial officer. “That’s a permanent state.”...
...The Basel III banking rules will require banks to hold more capital against cleared swap and futures positions. The head of one large bank-owned clearing business says Basel III is “killing us”....
...Both Deutsche Bank and Barclays are under pressure to increase their loss-absorbing capital to meet new Basel III leverage ratio targets....
...Ruth Porat, Morgan Stanley’s chief financial officer, has succeeded in the painstaking job of rebuilding trust in the bank’s ability to withstand a shock....
...The improved Basel III capital position, up from 9.3 per cent in April, was helped by this year’s sale to Morgan Stanley of Citi’s stake in Smith Barney, the retail brokerage....
...Last quarter, Citi became the first big Wall Street bank to report a double-digit capital ratio under new Basel III standards, with 10 per cent equity to risk-weighted assets....
...He confronted bank regulators, criticising aspects of the Dodd-Frank Act and describing part of the Basel III international accord as “anti-American”....
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