Ex-Virgin Money boss among two women replacing men on Bank of England’s financial policy committee January 3, 2019 Former boss of Virgin Money Dame Jayne-Anne Gadhia has been added to the Bank of England’s financial policy committee alongside the chair of the Banking Standards Board Dame Colette Bowe, chancellor Philip Hammond announced today. The pair will replace Richard Sharp and Martin Taylor, who are stepping down at the end of the first quarter [...]
FTSE round up: Index drops on oil and mining share sell-off following fears of oversupply November 23, 2018 The FTSE 100 closed 0.14 per cent down this week after falling to 6,950.82, driven by a sell off in oil and mining shares. The biggest faller was silver and gold miner Fresnillo which saw a 6.98 per cent decrease to 746.4p as the company continued to feel the effects of being downgraded by Morgan Stanley [...]
Fresnillo share price drops as Morgan Stanley warns of new Mexican laws November 22, 2018 Shares in mining giant Fresnillo fell today as the company was hit by a downgrade from Morgan Stanley. Fresnillo, which owns and operates gold and silver mines in Mexico, might be impacted by a string of newly proposed laws, Morgan Stanley said in a note to investors. The note sent shares in the FTSE 100 [...]
Morgan Stanley banker drops out of RBS finance chief race November 15, 2018 Morgan Stanley investment banker William Chalmers has pulled out of the race to take the chief financial officer job at the Royal Bank of Scotland. Chalmers had been in the running to replace Ewen Stevenson as the bank’s CFO, but has now withdrawn from the race, it is understood. Sky News reported Chalmers had come [...]
Morgan Stanley banker moonlights as an Uber driver to win top role in upcoming IPO October 18, 2018 A top banker at Morgan Stanley has reportedly been moonlighting as an Uber driver outside of working hours, in a bid to win the deal to take the ride-hailing firm public in 2019. Michael Grimes, a technology banker in the US for Morgan Stanley, has been running the job on the side for several years despite [...]
Morgan Stanley profits jump as investment banking surges and trading holds up October 16, 2018 Morgan Stanley today reported profits well above expectations on Wall Street as its equity underwriting revenues surged and it avoided the trading weakness experienced by some rivals. Net income rose by 17 per cent to $2.1bn for the quarter, driven by a 26 per cent jump in profits in Morgan Stanley's institutional securities arm, which [...]
Shares in Burberry fall as Chinese appetite for luxury goods slows October 10, 2018 Shares in Burberry dropped over eight per cent Wednesday after Morgan Stanley downgraded the luxury goods sector over worries of a slowdown in the Chinese market. Chinese consumer confidence has peaked, the bank said, and consumption trends will likely slow further in the second half of the year before a slight upswing in 2019. Read [...]
Sky’s the limit: Dramatic auction between Comcast and Fox nears its conclusion September 22, 2018 The dramatic fate of Sky is nearing its finale, as a £26bn head-to-head auction between two of the world’s most powerful media companies enters into its final few hours. Comcast is battling it out with Rupert Murdoch’s 21st Century Fox and its powerful soon-to-be owner Disney in a rare auction, which includes up to three [...]
Carlyle Group to buy insurance service Sedgwick for £5.1bn September 12, 2018 Private equity firm The Carlyle Group has acquired US insurance claims service provider Sedgwick for $6.7bn (£5.1bn). Current majority shareholder KKR will exit the group and Stone Point Capital, CDPQ and Sedgwick management will remain minority shareholders when the deal coses later this year. Read more: Plastic packaging giant RPC confirms buyout talks with Apollo and Bain [...]
Lansdowne bosses and Morgan Stanley pocket £190m payday August 16, 2015 HEDGE fund Lansdowne Partners paid out more than £190m to staff and top shareholder Morgan Stanley last year, fresh accounts show. The UK-based group reported revenue of £250m between November 2013 and March 2015 and profits of £243.6m – £191.2m of which was distributed to the firm’s 20 members. One of the firm’s so-called members [...]