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...In a wide-ranging interview with the Financial Times days before he hands over as CEO to Morgan Stanley co-president Ted Pick, Gorman also said the banking system had become much safer in his 14-year tenure...
...In 2020, the bank lost out to Morgan Stanley in the $7bn bidding war to buy US investment manager Eaton Vance....
...Rival Morgan Stanley reported that the mean pay gap at its main UK subsidiary edged lower in 2023 to 48 per cent from 48.8 per cent....
...Morgan Stanley has shrunk its investment bank since the financial crisis and concentrated on building its wealth management business, which generates steadier profits and a higher rating from investors....
...As the chief executive of the retail brokerage Dean Witter in 1997, he engineered the acquisition of the gilded Morgan Stanley....
...The defunct retailer Sears launched the Discover card in the 1980s, eventually appending it to the Dean Witter retail brokerage. In the 1990s, the pair merged with the posh Morgan Stanley....
...she said of Simon Smith, global co-head of the investment banking division at Morgan Stanley....
...In today’s newsletter: Goldman’s internal turbulence A UK retail billionaire battles Morgan Stanley The IRS looks to tax private jet travel Goldman: will the real co-head please stand up Not all co-heads...
...Kelleher, a veteran of Morgan Stanley, will be watching if UBS can compete with his former bank and the industry leader in wealth management....
...In the current litigation, Frasers said Morgan Stanley rejected it as a client in April 2021 and alleged this was because Simon Smith, global co-head of the investment banking division at Morgan Stanley,...
...The two other top candidates for the top job — Andy Saperstein and Dan Simkowitz — are staying on at Morgan Stanley as co-presidents to Pick....
...Appearing before the High Court on Thursday, Simon Smith, global co-head of Morgan Stanley’s investment banking division, denied Frasers’ suggestion that it imposed a $1bn margin call to cover a trading...
...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...
...Morgan Stanley also promoted Jacques Chappuis and Ben Huneke as co-heads of investment management....
...“[W]hile many factors weighed in Morgan Stanley’s favour, including extraordinary co-operation and remediation, the misconduct was not uncovered and voluntarily disclosed,” said Damian Williams, the US attorney...
...Investment banks including Lazard, Goldman Sachs, Morgan Stanley and BNP Paribas have also been tapped to explore the sale of various assets, including a stake in SFR for about €3bn and Altice’s operations...
...Saperstein and Simkowitz were in the running for the top job but were instead named co-presidents of the firm....
...JPMorgan, Citi and Wells will report earnings on April 12. Goldman Sachs publishes results on April 15 while Morgan Stanley and BofA will do the same the following day....
...Bank of America, Goldman Sachs and Morgan Stanley report results early next week. Additional reporting by Harriet Clarfelt...
...Simkowitz will also become co-president with Saperstein, Morgan Stanley said on Wednesday. Gorman will become executive chair of the board of directors....
...Investment banks including Lazard, Goldman Sachs, Morgan Stanley and BNP Paribas have been tapped to explore the sale of various assets, such as Altice’s operations in the Dominican Republic and Portugal...
...Walt Disney has appointed two new directors — outgoing Morgan Stanley chair and chief executive James Gorman and Sir Jeremy Darroch, former group CEO of Sky — just days before activist investor Nelson Peltz...
...The two men will also be Pick’s co-presidents....
...Morgan Stanley is increasingly confident that investment banking is showing signs of a rebound following more than a year of sluggish dealmaking activity, said a top executive....
...Zoom out beyond Morgan Stanley and Citi and their moves hint at broader pressures....
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