T. Rowe Price said Monday it appointed a former Morgan Stanley manager to serve as its new global head of diversity and inclusion, highlighting a growing push to foster more diversity at investment firms.
Morgan Stanley hopes to resume share buybacks early next year that could exceed 100% of the investment bank’s quarterly earnings, CEO James Gorman said Thursday, as executives sit on a growing pile of excess capital but continue to have their hands tied by U.S. regulators.
With the U.S. Federal Reserve pledging to keep interest rates near zero through 2023, the nation’s largest banks are in a tight spot, trying to eke out revenue through trading and mortgage refinancing while cutting costs through layoffs.
The U.S. Office of the Comptroller of the Currency said Monday that it has assessed a $60 million civil penalty against Morgan Stanley in connection with two potential data security incidents that took place in 2016 and 2019.
U.S. cryptocurrency exchange Gemini, founded by twins Tyler and Cameron Winklevoss, hired a former executive for Morgan Stanley to serve as chief compliance officer for its recently launched Asia-Pacific operations.
Morgan Stanley said Thursday that its just agreed-upon $7 billion acquisition of fund manager Eaton Vance, which comes less than a week after completing its purchase of E*TRADE Financial, will make the bank the largest wealth and investment management platform provider in the world, with combined net revenues of $26 billion.
Goldman Sachs has tapped industry veteran Matthew Chung to fill the role of chief information security officer and head of technology risk, according to an internal memo, hiring him away from rival investment bank Morgan Stanley.
The U.S. Federal Reserve Board approved Morgan Stanley’s $13 billion acquisition of discount stock brokerage E*TRADE Financial by a 4-1 vote, clearing the way for the transaction to be completed Oct. 2.
Morgan Stanley agreed on Wednesday to pay a $5 million penalty to the U.S. Securities and Exchange Commission and reorganize certain trading units within its swaps business after it was discovered that the investment bank failed to abide by regulatory requirements for short sales.
Goldman Sachs, Morgan Stanley and Citigroup are among 34 S&P 100 companies that will publicly disclose the makeup of their workforce by race, ethnicity and gender, New York City Comptroller Scott M. Stringer said Monday.
Bank of America issued a bond that will fund projects related to racial equality, economic opportunity, and transitioning to a low-carbon economy, the first-ever offering of its kind in the financial services industry.
Morgan Stanley, whose July promise to disclose the climate impact of its lending portfolio proved a bellwether for some larger peers, on Monday also became the first major U.S. bank to commit to erasing that impact by 2050.
Sustainable equity funds and U.S. taxable bonds performed better than conventional holdings in the first half of the year, Morgan Stanley found, making the growing investment category appear even more attractive.
The world’s largest banks are better equipped to handle the current crisis than the rest of the sector as a result of regulation and restructuring imposed after the 2008 financial crisis, Moody’s said Thursday.
Morgan Stanley said it will invest $15 billion in low-income areas in the U.S. in concert with its bid to acquire online trading platform E*TRADE, the financial services company said Thursday.
A team of former Wells Fargo financial advisors that managed about $500 million in assets has left to form a new practice affiliated with LPL Financial’s strategic wealth services division.
JPMorgan Chase, which has been making moves toward becoming more environmentally friendly, has reportedly entered the green-bond market with a $1 billion deal.
Morgan Stanley said on Wednesday that its stock plan administration software platform Shareworks will be partnering with Mitsubishi UFJ Financial Group’s trust banking arm to offer stock plan services to executives and employees in Japan.
Major finance executives who were tapped by U.S. federal regulators to assess climate risks to the financial markets recommended that financial institutions should be required to disclose and pay for producing carbon emissions in a landmark report made public Wednesday.
The U.S. Federal Reserve has corrected stress test results for five of the country’s largest banks after discovering an error in projected trading losses, decreasing the capital requirements for Goldman Sachs and Morgan Stanley as a result.