Morgan Stanley’s talks to unload its commodities business are heating up against after months of fruitless negotiations with potential buyers.
Morgan Stanley is one of the world's largest diversified financial services companies, with a reputation for excellence in advice and execution on a global scale.
Thunderclouds were gathering in April when James Gorman, Morgan Stanley’s chief executive, went for a run on the beach on Amelia Island in Florida after attending a closed-door meeting of the bank’s top stockbrokers.
Moody’s Investors Service cut its ratings on four of the biggest U.S. banks after deciding the government would be less likely to help them repay creditors in a crisis.
Morgan Stanley hopes to expand its $500 million share buyback program, said CEO James Gorman, adding that not doing so would be a disappointment.
Is this the cleanest firm on Wall Street ?
Please don't try this at home.
A federal judge ordered a former Morgan Stanley financial advisor to return client information to the firm and prohibited him from soliciting his prior clients because he subverted the firm's ability to reach those clients.
Morgan Stanley has been asked by the U.K.'s Financial Conduct Authority to provide details in relation to its foreign exchange investigation, according to sources.
BP and Shell have been forced on the defensive by new allegations of price-rigging made in a US lawsuit brought by four oil traders.
Four traders sue.
While Goldman Sachs President Gary Cohn talked Thursday about how many people still wanted to work for the firm, a Morgan Stanley executive told an analyst recently that he was somewhat 'worried' about losing talent to smaller investment banks.
Morgan Stanley set aside $3.66bn to pay employees at its investment-banking and trading division in the first half, 1.4% less than a year earlier.
A Morgan Stanley banker stole more than £400,000 from clients’ accounts and spent it on women, gems and high-end benders.
The Merrill Lynch 'BonusGate' saga just won't go away. New York State Attorney General Andrew Cuomo has written to Barney Franks, the Chairman of the US House Financial Services Committee, accusing the firm of 'corporate irresponsibility' in paying $3.6bn in bonuses in the light of the large losses it sustained in 2008. Cuomo's letter revealed that almost 700 Merrill staff bagged a bonus of over a $1m for their work last year.
Hot on the heels of the announcement that JPMorgan has spurned Canary Wharf and has chosen the 'Square Mile' for its new European HQ (St Alphage House in London Wall), most of the interest centres around the fact that, of the 1 million square feet that makes up the new building, there will be four giant trading floors of some 72,000 square feet each.
While the likes of former Bear CEO Jim Cayne and Morgan Stanley boss John Mack took no bonus for 2007 (and the likes of Chuck Prince at Citi, Stan O'Neal at Merrill and Peter Wuffli over at UBS all fell on their swords or got the boot), Barclays President Bob Diamond, who heads up Barclays Capital , Barclays Wealth and Barclays Global Investors, enjoyed a better year. Although Barclays sustained subprime-related losses of around $2.6bn in the 4 months to October, these were relatively insignificant compared to the huge losses sustained by rival firms. So, Bob's on track for a $30m pay-out for 2007. He'll likely get a bonus of almost $29m on top of his $500,000 base salary. And then he'll get share options too.
Here's the latest on the 'Movers & Shakers' front.
Citigroup has hired Carl Scott to head up its European interest rates exotic trading division. Scott, previously at WestLB, will replace Marco Arosio, who is taking up a new role in Citigroup's interest rate structuring team.
Trader Monthly has compiled a list of the best trading talent under 30.