Blackrock and Vanguard rake in billions: Omicron variant makes Moderna and Pfizer shareholders more than $10bn Omicron share boost 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 Succession 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 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 [...]
Dozens of UK’s biggest investment houses fall short of new ESG standard September 6, 2021 Some of the UK’s biggest names in investment have failed to meet a new ESG standard for investing for savers and pensioners, including Schroders, Morgan Stanley and Rothschild. In a new list published by The Financial Reporting Council (FRC) today, asset managers, pension schemes and insurers who successfully met a revised UK stewardship code were [...]
Morgan Stanley hikes pay for junior bankers … again August 31, 2021 Morgan Stanley has raised base salaries for entry-level bankers for the second time in a month, heating up the pay hike frenzy as Wall Street rivals compete for junior talent. Junior bankers at the US investment bank will now be paid a base salary of $110,000 – up from the previous rise from $85,000 to [...]
Morgan Stanley boosts pay for junior bankers worldwide July 28, 2021 Morgan Stanley has raised base salaries for entry-level bankers in its investment banking and global capital markets division, following in the footsteps of Wall Street rivals. The US Investment bank has hiked base pay to $100,000 for first-year bankers and a minimum of $105,000 for second years, according to people with knowledge of the matter. [...]
Nasdaq set to spin out market for pre-IPO shares in deal with banks July 20, 2021 The exchange operator announced a new joint venture with SVB Financial Group (SVB), Citi, Goldman Sachs, and Morgan Stanley that will allow investors to trade in stocks of private businesses. As part of the spin out of its exchange for private businesses, Nasdaq Private market will become a standalone, independent company and receive investments from [...]
Hong Kong races ahead of London and New York in bid to get bankers back in the office June 21, 2021 Hong Kong races ahead of London and New York in bid to get bankers back in the office
Morgan Stanley boss: Eating out? Then you can come in to the office June 15, 2021 Morgan Stanley chief executive James Gorman sent a strong message to staff in the US who are reluctant to return to their desks, saying, “If you can go into a restaurant in New York City, you can come into the office.” “By Labor Day, I’ll be very disappointed if people haven’t found their way into [...]
Morgan Stanley pushes further into the cloud via new Microsoft partnership June 2, 2021 Morgan Stanley and Microsoft today announced a cloud partnership to accelerate the bank’s IT improvements and explore the application of the cloud in financial services. The partnership will see cooperation between the Microsoft Azure and Morgan Stanley Technology teams, focussed on solving problems in financial services. This will include developing and co-designing new digital infrastructure [...]