Porat named CFO
Restructured firm to focus on its institutional clients
Co-president James Gorman to become new CEO
FAIR Canada has called for increased disclosure requirements on these products in Canada
Bucking the trend among big financial firms lately, Morgan Stanley reported a loss for its second quarter.The firm recorded a loss from continuing operations of US$159 million for the second quarter ended June 30, compared with income of US$689 million in the period a year ago. The results include a number of significant items, including: […]
The new joint venture in wealth management by Morgan Stanley and Citigroup has formed a new firm to provide investment consulting advice to institutional investors and the upper-tier private wealth market.The new firm, Graystone Consulting, is an outgrowth of Citi Institutional Consulting, which was formed in 2006.Graystone is currently comprised of 30 institutional-focused teams in […]
Combined firm boasts over 18,500 financial advisors
Wall Street bank Morgan Stanley is selling off the rest of its index and portfolio analytics business, MSCI Inc., Morgan Stanley said Monday.The firm is pricing a secondary offering for all of its remaining 27,708,653 shares of MSCI class A common stock, at US$21.50 per share, a deal that would raise about US$595 million for […]
Revenues plunge 62% from a year ago
The Financial Industry Regulatory Authority announced that it has fined Morgan Stanley & Co. US$3 million — and ordered it to pay more than US$4.2 million in restitution to 90 retirees – to resolve charges that its supervisory system failed to detect and prevent brokers from persuading workers to take early retirement based upon unrealistic […]