Hints and tips:
...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....
...“It effectively creates a big network effect,” says Carbonplace CEO Scott Eaton....
...A list of properties including a Knightsbridge mansion worth £34mn and a three-bed Eaton Square apartment with an £8mn asking price has been circulated in recent weeks by high-end real estate agents operating...
...The New York billionaire has agreed to buy 93 Eaton Square for £21m, people familiar with the matter told the FT....
...The bank lost out to Morgan Stanley last year in the $7bn bidding war for US investment manager Eaton Vance....
...His interim replacement Mary O’Connor also quit after being passed over as Michael’s permanent replacement....
...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....
...“Many asset managers were cheap and deemed value stocks, trading at six times ebitda,” said Michael Cyprys, analyst at Morgan Stanley....
...coronavirus crisis has deepened the plight of midsized asset managers already struggling to distinguish themselves both from bigger rivals that benefit from scale as well as smaller niche players, said Michael...
...“The question is how do you survive and thrive when the ecosystem is evolving,” said Michael Cyprys, analyst at Morgan Stanley....
...And in February, it sold the company’s crown jewel, the air-to-air refuelling business Cobham Mission Systems, to Eaton Corporation for $2.83bn....
...Eaton ($100)....
...Michael Cyprys, equity analyst at Morgan Stanley, estimated BlackRock was paying about 50 times earnings before interest, tax, depreciation and amortisation (ebitda) to acquire Aperio, or 20 times revenues...
...In February Franklin Templeton acquired Legg Mason and last month Morgan Stanley agreed to buy Eaton Vance, two major deals in part aimed at getting the kind of economies of scale enjoyed by BlackRock and...
...We revealed recently that Gorman beat JPMorgan Chase to the Eaton Vance deal....
...In more concentrated industries, the top dozen or so players typically command 75 per cent market share,” said Michael Cyprys, an analyst with Morgan Stanley in New York....
...Big deals have returned to the investment industry, with Morgan Stanley agreeing this week to pay $7bn for rival Eaton Vance and Franklin Templeton splashing $6.5bn to buy Legg Mason earlier this year....
...The latest deals involved Franklin Templeton buying Legg Mason for $6.5bn in February; and Morgan Stanley paying $7bn for Eaton Vance to combine it with its own money management arm....
...But the attitudes expressed by the couple’s patronising friends (Lucy Eaton and Clarence Smith) and Bri’s mother (Patricia Hodge) are still unnerving....
...Mr Eaton said that even banks, many of whom are improving their own systems, recognise the benefits of a marketwide solution....
...You can email me on michael.mackenzie@ft.com and follow me on Twitter at @michaellachlan....
...Eaton Vance is priming a new ETF structure after its “NextShares” set of active ETFs launched three years ago failed to gain investor traction, according to Michael Cyprys, an analyst for Morgan Stanley....
...Michael Cirami, the co-director of global income at Eaton Vance, tells Alphaville that this is par for the course when it comes to Turkey (emphasis ours):Erdogan has demonstrated to be a volatile leader...
...• Ingrid Jacobs has moved to Eaton Vance as chief diversity officer for the $440bn US-listed asset manager. Ms Jacobs joins from Raytheon, the US defence contractor, where she served in a similar role....
...Donal Kinsella has joined Eaton Vance, the $453bn New York-listed manager, as corporate credit portfolio manager. Mr Kinsella previously worked for Janus Henderson....
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