CEO Gorman said the bank “is in excellent shape, notwithstanding the geopolitical and market turmoil that we find ourselves in,” and added an announcement of his chosen successor is get…
Tesla surges 10% on report its supercomputer could add $500B to market cap, while shares more than 8% as some analysts pointed to a fall in net new assets in its wealth division and disappointment over the
Analysts at Goldman Sachs said they expected a negative market reaction as the inflow of assets to wealth management fell, and conversion to higher fees over the assets was slow.Meanwhile, analysts at Evercore criticized the lack of an announcement on a long-anticipated CEO succession, which they said “is a mistake by the Board as more time can only increase angst and divide parties.
The strongest candidates are co-presidents Ted Pick and Andy Saperstein, respectively heads of institutional securities and wealth management, while Dan Simkowitz, head of asset management, is also being considered, Reuters has reported, citing a source.
Morgan Stanley’s revenue in fixed income underwriting fell even as rivals had higher revenues with stronger market activity. Yeshaya said Morgan Stanley cannot be compared to rivals due to different considerations of capital allocation and not only fees.
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Exclusive: Morgan Stanley board considers next CEO while Gorman clears the decksMorgan Stanley's (MS.N) board will focus on the selection of CEO James Gorman's successor at its summer and fall meetings, a person familiar with the situation said, while the outgoing boss looks to clear the decks by resolving major regulatory matters.
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Morgan Stanley profit shrinks as deal slump lingersProfit for the three months ended Sept. 30 was $2.4 billion, the bank reported on Wednesday. That compares with the $2.6 billion recorded a year earlier.
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U.S. stocks open lower as investors weigh Morgan Stanley earnings, housing-market dataChristine Idzelis is a markets reporter at MarketWatch and is based in New York.
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Stock Market Today: Morgan Stanley, P&G Earnings in SpotlightOil prices rally; Treasury yields hold above 4.8%
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Morgan Stanley’s Earnings Fall 9% on Lower Investment-Banking RevenueFees from advising corporate clients on mergers and acquisitions fell by more than 30%
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Morgan Stanley’s Earnings Fall 9% on Lower Investment-Banking RevenueFees from advising corporate clients on mergers and acquisitions fell by more than 30%
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