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...In 2020, the bank lost out to Morgan Stanley in the $7bn bidding war to buy US investment manager Eaton Vance....
...The division has lagged behind rivals such as JPMorgan Chase, Morgan Stanley and BofA’s Merrill Lynch franchise, however....
...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...
...Morgan Stanley profits fell by almost one-third in the final quarter of last year, a bigger than expected drop brought on in part by rising costs in its wealth management unit....
...Additional reporting by Claire Jones, Stephen Gandel and Stefania Palma...
...Shares in Morgan Stanley were trading down nearly 4 per cent by midday in New York....
...Shares in Goldman rose 0.7 per cent on Tuesday, while those of Morgan Stanley fell 4.2 per cent....
...Goldman Sachs publishes results on April 15 while Morgan Stanley and BofA will do the same the following day....
...stephen.bush@ft.com...
...Morgan Stanley reports its full-year results on Tuesday....
...Stephen Scherr has stepped down as chief executive of car rental chain Hertz....
...Pay for Morgan Stanley’s top executive James Gorman, rose nearly 18 per cent to $37mn, while JPMorgan Chase upped its chief executive Jamie Dimon’s pay by 4 per cent to $36mn....
...The US has eight G-SIBs: JPMorgan, Citigroup, Bank of America, Goldman Sachs, Morgan Stanley, Bank of New York Mellon, State Street and Wells Fargo....
...would be determined by the performance of Morgan Stanley’s stock price over the next three years....
...The average reserves at JPMorgan Chase, Bank of America, Wells Fargo, Citigroup, Goldman Sachs and Morgan Stanley have fallen from $1.60 to 90 cents for every dollar of commercial real estate debt on which...
...Outgoing Morgan Stanley chief executive James Gorman last week also told the Financial Times that he expected the European discount to start to narrow....
...Blackstone chief executive Stephen Schwarzman was one of the top donors to Chris Christie’s abortive campaign for the US Republican presidential nomination, according to new federal filings, marking a turning...
...Goldman Sachs and Morgan Stanley, whose businesses skew more towards investment banking, trading and asset management, report results on January 16....
...By contrast, Wall Street banks Goldman Sachs, JPMorgan Chase and Morgan Stanley have all awarded their chief executives with pay rises....
...Morgan Stanley said the units, announced in an SEC filing on Friday afternoon, were awarded in equal amounts to the three executives: Pick, Andy Saperstein and Dan Simkowitz....
...Sternfels’ predecessors eulogised Daniel’s “servant-leadership” from 1976 to 1988 in front of an audience that included the former New York mayor Michael Bloomberg and McKinsey alumni such as ex-Morgan Stanley...
...He has also held roles at AIG Financial Products, Morgan Stanley, the IMF and the Reserve Bank of New Zealand....
...The writer is a faculty member at Yale, formerly chair of Morgan Stanley Asia, and is the author of “Accidental Conflict: America, China, and the Clash of False Narratives” There is more to economic vitality...
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