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Tag: Morgan Stanley


Regulations

Morgan Stanley faces $750M lawsuit over rail-line lending

September 19, 2023

Via: Banking Dive

Morgan Stanley was hit with a $750 million lawsuit Monday by private-equity firms alleging fraud related to their investment in Brightline Holdings, a high-speed rail company. The lawsuit, filed in Manhattan by affiliates of Certares Management and Knighthead Capital Management, […]


Regulations

Morgan Stanley to pay $6.9M over WhatsApp use — to a perhaps surprise source

August 24, 2023

Via: Banking Dive

Morgan Stanley is paying another $6.9 million over its failure to retain communications made over WhatsApp by employees, but the agency levying the penalty may not be who you’d expect. Ofgem, the U.K.’s energy regulator, fined a subsidiary of the […]


Regulations

Morgan Stanley claws back bankers’ pay over WhatsApp scandal

January 26, 2023

Via: Banking Dive

Morgan Stanley is penalizing individual bankers for conducting company business on messaging platforms such as WhatsApp, in connection with an investigation by regulators that drew $1.8 billion in fines last year from 11 Wall Street institutions. The bank is either […]


Regulations

Six U.S. Banks Investigated for Working With U.N. to Deny Credit to Fossil-Fuel-Involved Companies

October 20, 2022

Via: CNSNews.com

Attorneys-general from 19 states are investigating six major American banks that have signed on to the United Nations’ Net-Zero Banking Alliance, pledging to achieve net-zero emissions in their lending and investment portfolios by 2050. The banks under investigation include Bank […]


Activity, Retail Banking

UBS nominates ex-Morgan Stanley No. 2 Kelleher as next chair

November 22, 2021

Via: Banking Dive

UBS on Saturday nominated former Morgan Stanley President Colm Kelleher to become its next chairman — a move that could be solidified through a vote at the Swiss bank’s annual shareholder meeting April 6. The bank — the world’s largest […]


News

Russian neobank Tinkoff appoints ex-Morgan Stanley exec as co-CEO

November 10, 2021

Via: FinTech Futures

Both Hughes and Fedorov already hold senior positions at the firm, with Fedorov joining Hughes as co-CEO from his position on the company’s board of directors. Tinkoff is the largest digital bank in its home country, and operates a range […]


News

Morgan Stanley bumps first-year analyst base pay to $100K

July 29, 2021

Via: Banking Dive

Morgan Stanley is boosting annual base pay by $15,000 for first- and second-year analysts in the bank’s investment-banking and global capital markets divisions, it announced Wednesday, according to Business Insider. The increases, effective Aug. 1, bump compensation to $100,000 for […]


Capital and Risk, Operational

Morgan Stanley falls prey to lingering effects of Accellion breach

July 12, 2021

Via: Banking Dive

While there was no breach of Morgan Stanley applications, the bank was still subject to an incident through a supply chain attack. In this case, a compromise further up the supply chain, the vendor of a Morgan Stanley vendor, led […]


News

Morgan Stanley to bar unvaccinated staff from NY offices starting July 12

June 23, 2021

Via: Banking Dive

The number of people this would bar stands to be relatively few. Morgan Stanley CEO James Gorman, at a conference the bank organized last week, said 90% of employees working from the bank’s offices are vaccinated — a figure he […]


Capital and Risk, Trading

The coming 30% trading slump isn’t bad, bank execs say. Last year was just ‘exceptional.’

June 16, 2021

Via: Banking Dive

Bank executives have been warning that recent gains were likely unsustainable. This week’s comments from Mason, Dimon and Morgan Stanley CEO James Gorman show a shift to expectation-management mode — not by stressing that the current trend is bleak but […]


Activity, Capital and Risk, Investment Banking, Trading

Morgan Stanley is set to report first-quarter earnings – here’s what the Street expects

April 16, 2021

Via: CNBC

Morgan Stanley is set to report first-quarter earnings before the opening bell on Friday. Here’s what Wall Street expects: Earnings: $1.70 a share, 68% higher than a year earlier, according to Refinitiv Revenue: $14.1 billion, 49% higher than a year […]


Capital and Risk, Macroeconomic

How Wall Street Reflects the Economy Biden Inherits

January 21, 2021

Via: The New York Times

What big banks reveal about the economy America’s biggest banks have all now released their financial results for the past year, data that reflect the strange economic situation facing President Biden and his new administration. Parts of the economy are […]


Activity, Corporate Banking, Investment Banking

Morgan Stanley, JPMorgan, Bank of America diverge on bonuses

December 7, 2020

Via: Banking Dive

More often than not, when one major bank takes a stance — on any issue from environmentally conscious investing, to hiring a diverse workforce, to pandemic-induced work policies — its competitors are generally swift to follow if the move is […]


Regulations

Morgan Stanley fined $60m for improper disposal of personal data

October 16, 2020

Via: FinTech Futures

The charges refer to the bank dismantling two data centres connected to its wealth management business in 2016. According to the OCC, Morgan Stanley failed to oversee third-party companies responsible for the erasure and removal of personal data. The OCC […]


Activity, Corporate Banking

Citigroup restarts job cuts after coronavirus pause

September 17, 2020

Via: Banking Technology

The bank, which became the first Wall Street institution to appoint a woman as its CEO last week, employs around 204,000 people. The bank expects its cuts to affect 26,000 people in 2020. Citi wasn’t alone in putting a pause […]


Capital and Risk, Operational

Morgan Stanley blocks remote network access for China interns

July 27, 2020

Via: Banking Technology

The FT reports that the news comes “as foreign companies become increasingly concerned about Beijing’s tough cybersecurity rules”, despite China’s cybersecurity laws covering similar regulations to the EU’s General Data Protection Act (GDPR) or the EU Cybersecurity Act. The Wall […]


Activity, Investment Banking, Trading

Bank of America Has Been Crushed – Here Is the Stock’s Must-Hold Long-Term Support

March 24, 2020

Via: TheStreet

With the federal-funds rate going to near zero, energy stocks collapsing alongside the price of oil, and stock market volatility roaring, the bank stocks have been crushed. Two months ago Citigroup (C) – Get Report, Morgan Stanley (MS) – Get […]


Activity, Trading

Bank stocks dive after the Fed slashes rates to curb coronavirus impact, JPMorgan off by 4%

March 3, 2020

Via: CNBC

Bank stocks sold off in unison on Tuesday following the Federal Reserve’s emergency rate cut to combat an economic slowdown triggered by the fast-spreading coronavirus. The weakness by the group kept the overall markets’ gains in check. Shares of JPMorgan […]


Activity, Corporate Banking

Morgan Stanley’s $13 billion E-Trade deal raises questions about ‘too big to fail’

February 20, 2020

Via: Market Watch

Morgan Stanley said Thursday that is acquiring discount brokerage E-Trade Financial Corp. in an all-stock deal valued at $13 billion that is the biggest for a major U.S. bank since the 2008 financial crisis. The news prompted talk of Morgan […]


Channels

Former Morgan Stanley developers unveil new cryptocurrency exchange

December 5, 2019

Via: Banking Technology

Phemex aims to execute trades in less than a millisecond for both its retail and institutional investors. Billing itself as “the most trustworthy cryptocurrency derivatives trading platform”, Phemex offers Bitcoin, Ethereum, Ripple, Litecoin, and EOS. It plans to support traditional […]