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..., Goldman Sachs, Morgan Stanley, Bank of America and Citigroup....
...At Goldman Sachs Asset Management International, which houses parts of the bank’s non-US money management business, the gap widened to 54.1 per cent from 51.3 per cent....
...Pick downplayed recent reports that Morgan Stanley was being probed by multiple US regulators over how its wealth management division handles potentially risky clients, saying this quarter’s results in wealth...
...Three more US regulators have opened investigations into how Morgan Stanley’s wealth management division handles potentially risky clients, according to a person familiar with the matter....
...The Bank of England’s financial stability committee met today, and the subsequent report indicates that it remains antsy about the engorged size of Treasury basis trades....
...The US investment bank has added a decade to the lease on its European headquarters at 20 Bank Street, extending its tenure from the current end date of 2028 to at least 2038....
...Frasers is suing Morgan Stanley for about €50mn over claims the investment bank forced the retailer out of its Hugo Boss derivative trades in part because insiders at Morgan Stanley’s London office looked...
...On Friday the US Securities and Exchange Commission charged Morgan Stanley and its former equity syndicate desk head Pawan Passi with fraud in the conduct of block trading business....
...Camilla Bingham KC, representing the US bank, said that Frasers suffered “no loss” in the value of its Hugo Boss positions and that its claims “are not grounded in any form of recognisable legal or factual...
...Yet in the US wealth market, UBS is far behind industry leader Morgan Stanley and also trails Wall Street rivals Bank of America and JPMorgan....
...Gorman has also been one of the biggest sellers of stock among US bank executives, cashing out more than $40mn in Morgan Stanley shares in 2023....
...Kelleher, a veteran of Morgan Stanley, will be watching if UBS can compete with his former bank and the industry leader in wealth management....
...GQG holds 700,000 Goldman shares, worth about $260mn at Wednesday’s closing price, for its US fund. Goldman is the only US bank in its portfolio....
...Morgan Stanley and BofA will publish results on April 16. US banking editor Joshua Franklin and US banking correspondent Stephen Gandel have written a full preview....
...The bank said it had increased discretionary pay for its dealmakers despite the investment bank’s lacklustre results....
...The largest US banks are set to earn higher profits from their lending businesses than expected this year as it becomes more likely that the Federal Reserve will make only modest cuts to benchmark interest...
...Across the five biggest US banks, revenues in equities and fixed income were unspectacular year on year (up 6 per cent and down 3 per cent respectively) but investment banking was up almost 29 per cent,...
...Pick said that geopolitical tensions and the trajectory of the US economy represented the two biggest risks but that Morgan Stanley was starting 2024 “with confidence”....
...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...
...The proposal from US regulators has become a flash point between banks and lawmakers, with JPMorgan chief executive Jamie Dimon warning this year that they could make bank stocks uninvestable....
...Saxo Bank, which in turn used the US bank for execution and clearing....
...The proposals look to impose higher capital requirements on US banks with at least $100bn of assets....
...Kana Inagaki Did US growth slow in the first quarter?...
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