Who is Morgan Stanley’s new CEO Ted Pick? October 26, 2023 Here’s what you need to know about Morgan Stanley's new CEO Ted Pick and what he faces in his new role.
Morgan Stanley: Ted Pick wins race to replace long-time chief James Gorman at Wall Street bank October 26, 2023 Morgan Stanley’s Ted Pick won the race to succeed long-time CEO James Gorman and promised to stick to the blue chip Wall Street firm’s strategy as it navigates a deal-making slump and uncertain economic outlook. The investment bank said Gorman, who has held the top job since 2010 and steered the bank in the aftermath of the [...]
US banks flag concerns over commercial real estate as debt distress reaches highest level in a decade October 19, 2023 The largest lenders in the US have been building their loss provisions in case loans to the commercial real estate sector turn sour over the coming months.
Morgan Stanley profit dips as struggles with investment banking slowdown continues October 18, 2023 Morgan Stanley reported a fall in profit as an increase in bad loan provisions and a higher wage bill offset a strong performance from the bank's wealth management arm.
Morgan Stanley locked in secret London court battle to seize Russian oil firm October 18, 2023 Morgan Stanley is locked in a secret London court battle as part of an attempt to seize ownership of an oil firm in southern Russia on behalf of a group of Russian lenders, City A.M. has learned.
Morgan Stanley fined for traders’ WhatsApp messages in sign of things to come for banks August 23, 2023 The use of WhatsApp messages across the City has brought its first fine
Morgan Stanley profits fall on dealmaking slump while rising rates lift Bank of America July 18, 2023 The continued lull in dealmaking hit Morgan Stanley’s profit despite a strong performance from its wealth management arm, while rising rates lifted Bank of America. Income at Morgan Stanley, which specialises in investment banking, slipped to $2.2bn in the second quarter, down from $2.5bn the year before but in line with analyst expectations. This fall [...]
Investment banking slowdown set to hit Goldman Sachs and Morgan Stanley results this week July 17, 2023 Goldman Sachs and Morgan Stanley will likely report another slowdown in profit on Wednesday and Tuesday respectively amid a continued slump in global dealmaking. Analysts at JP Morgan reduced their earnings per share estimates for Goldman Sachs and Morgan Stanley on “lower IB revenues…with limited cost offset”. The analysts cut Goldman Sachs’s EPS for the [...]
Morgan Stanley to cut another 3,000 jobs as banking layoffs continue May 2, 2023 Morgan Stanley is reportedly set to cut thousands of jobs before the midway point of the year, as the largest round of banking layoffs since the financial crisis looks set to continue. The bank is looking to lay off 3,000 staff, Bloomberg reported, representing about five per cent of the bank’s staff. They are expected [...]
CBI exodus: Which firms have quit or suspended their relationship with the lobby group? April 21, 2023 A slew of top firms have quit or suspended engagement with the CBI today after the lobby group was rocked by new allegations of sexual abuse.