Hints and tips:
...In 2020, the bank lost out to Morgan Stanley in the $7bn bidding war to buy US investment manager Eaton Vance....
...The Swiss lender trades at about 1.2 times tangible book value, compared with about two times for Morgan Stanley; both banks have large wealth management operations....
...Goldman Sachs retained its leading position, followed by JPMorgan, Morgan Stanley and Bank of America. Citi was eighth, followed by European banks UBS and Barclays....
...“I think it’s clear that [regulators] did not follow due process in the quantitative impact study and feasibility studies and so on,” said Kelleher, who was previously an executive at Morgan Stanley before...
...Other traders in Morgan Stanley’s commodities team were also given warnings about their use of messaging apps, said one person familiar with the matter....
...Morgan Stanley’s top international executive, Franck Petitgas, is retiring from the Wall Street bank after a 30-year career in capital markets and investment banking....
...John Mack, another former Credit Suisse chief executive who went on to run Morgan Stanley, has a blunter assessment of the reasons for its fall: “Their performance says it all.”...
...Solomon, chief executive since 2018, has been unable to bridge a stock market valuation gap which has opened up with longtime rival Morgan Stanley....
...Additional reporting by Akila Quinio, Stephen Morris, Robert Smith and Euan Healy...
...Morgan Stanley Investment Management has filed to adopt Vanguard’s exchange traded fund multi-share class structure, becoming the fifth in line to seek approval to do so....
...Morgan Stanley reports its full-year results on Tuesday....
...Outgoing Morgan Stanley chief executive James Gorman last week also told the Financial Times that he expected the European discount to start to narrow....
...By contrast, Wall Street banks Goldman Sachs, JPMorgan Chase and Morgan Stanley have all awarded their chief executives with pay rises....
...That effort has helped to boost the stock, which has outperformed most rival banks under his tenure except for Morgan Stanley....
...“Morgan Stanley was a bloodless coup — I would love to get to the stage in future where UBS could run the same playbook . . . with a number of credible candidates,” he said....
...Franck Petitgas — the former London-based Morgan Stanley executive who was appointed as Prime Minister Rishi Sunak’s business and investment adviser in April — will also attend the meeting, two of the people...
...However, it would be only 14th largest based on its clients’ aggregate market cap, according to Adviser Rankings data, a way behind investment banking giants such as Goldman Sachs and Morgan Stanley.Executives...
...Morgan Stanley declined to comment....
...It recently appointed former Morgan Stanley chief James Gorman, who was praised for how he handled his own succession, to the board. But the issue continues to hang over the company....
...Metro has hired Morgan Stanley to provide strategic advice and lead any potential capital raise, said a person familiar with the decision. The US bank declined to comment....
...On Wednesday, the Financial Times reported that the bank had hired Morgan Stanley as it sought to raise up to £600mn to shore up its balance sheet....
...UBS’s price to tangible book value — a metric of the premium placed on the group by investors — of 1 is just under half that of Morgan Stanley....
...UK prime minister Rishi Sunak has appointed former Morgan Stanley executive Franck Petitgas as his new business and investment adviser, as the government contends with bleak economic forecasts and high inflation...
...Even the supposed well-run experts at Morgan Stanley and UBS, they all took big losses by essentially giving this man the ability to make incredibly leveraged bets on very few stocks, hoping to win big but...
...Jane Fraser at Citigroup is the only woman running one of the major US banks and the leading contenders to take over as chief executive of another major Wall Street firm, Morgan Stanley, are all men....
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