Millions face difficulty paying mortgage if rates hit six per cent, says Morgan Stanley October 24, 2022 Millions will face difficulties paying their mortgages if rates hit six per cent, a research note issued by Morgan Stanley has warned. The US bank said there is “significant stress” building in the UK’s mortgage market, as house prices spiral out of control and the Bank of England seeks to tame rising inflation. Last week, [...]
JP Morgan tops quarter estimates whilst Morgan Stanley misses the mark October 14, 2022 JP Morgan reported a less-than-feared 17 per cent fall in third-quarter profit this afternoon, while Morgan Stanley posts a revenue plunge. JP Morgan’s adjusted profit was $3.36 per share, above analysts’ average estimate of $2.88, according to Refinitiv data. JP Morgan chief Jamie Dimon said that consumers in the US were continuing to spend despite [...]
Awaze owner hires Goldman Sachs and Morgan Stanley for £2bn sale September 24, 2022 Awaze’s owner Platinum Equity has reportedly hired Goldman Sachs and Morgan Stanley to oversee the rental business’s sale, which could be valued as high as £2bn. City sources told Sky News’ Mark Kleinman the banks are expected to initiate proceedings within the next year. This would lead to the company’s second ownership change in five [...]
Morgan Stanley’s Vishal Gupta and Carmignac’s Mark Denham named City’s top stock pickers in new research September 15, 2022 Morgan Stanley veteran Vishal Gupta is the City’s best portfolio manager when it comes to picking stocks, according to research released today. The Square Mile boss who works for Morgan Stanley Investment Management was recognised as the top brass in a study released by Essentia Analytics. Mark Denham of Carmignac came in second, while Jonathan [...]
Goldman Sachs slashes London office pay as dealmaking lull hits profits August 15, 2022 The world’s biggest investment banks have slashed the sums of money they spend on paying their staff, following a sharp decline in dealmaking. Goldman Sachs cut the sums of money it spends on paying staff in its in London offices by 59 per cent over the first half of 2022, the investment bank’s financial results [...]
Stock market volatility stems profit slide at Morgan Stanley July 14, 2022 Strong trading activity driven by investors navigating choppy financial markets stemmed a profit slide at Wall Street investment bank Morgan Stanley, the firm announced today. A five per cent jump in equity net income in the three months to June compared to the same period a year ago kept the bank’s bottom line in reasonable [...]
Interest rate hikes could trigger chain of bankruptcies in shadow banks June 27, 2022 Interest rate hikes from central banks across the globe could trigger a chain of bankruptcies in the global “shadow banking” industry, the Bank for International Settlements (BIS) has warned. In an interview with The Times, Claudio Borio, head of the BIS’ monetary and economic department, said “shadow banks” – including hedge funds, pension funds, and [...]
Blackrock and Vanguard rake in billions: Omicron variant makes Moderna and Pfizer shareholders more than $10bn December 6, 2021 Big pharma executives and shareholders saw their wealth skyrocket in the week after the Omicron variant was discovered, with eight top Pfizer and Moderna shareholders making a combined $10.3bn. Campaigners have accused pharma executives of “making a killing from a crisis they helped to create”, blaming “grotesque” levels of vaccine inequality for creating the conditions [...]
UBS: Ex-Morgan Stanley president Colm Kelleher to succeed Axel Weber as chair November 22, 2021 Colm Kelleher has been proposed as the next chair of UBS, the company confirmed this morning.
Private equity salaries swell by 52 per cent to £152k as war for talent with banks intensifies October 11, 2021 Private equity firms are prepared to pay junior staff with less than two years experience an average salary of more than £152,000, a jump of 52 per cent compared to two years ago. In 2019, private equity professionals across Europe with only two years in the industry were paid, on average, just under £100,000 in [...]