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Morgan Stanley (MS)

  • Dec. 3, 2012, 4:58 AM
    SAC, which has been linked to a massive insider-trading case, has until Feb 15 to convince investors not to pull their money from the firm during its next redemption period. SocGen will reportedly withdraw its cash, while Morgan Stanley (MS) is monitoring the situation. Others plan to keep their capital with SAC, citing the firm's strong track record and the pledge of founder Steven Cohen to cover any penalties himself.
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  • Nov. 30, 2012, 10:53 AM
    The Fed may have its own ideas, but a "capital flush" Morgan Stanley (MS) clearly wants to boost returns of capital to "long suffering shareholders" (the CEO's words). It's pretty simple math, says James Gorman. Cutting leverage by two-thirds while more than doubling capital, has cut ROE from 20% to 5%. It's time to give some back.
  • Nov. 28, 2012, 3:27 PM
    Morgan Stanley Wealth Management (MS) loses another heavy hitter, this time John Dorsey - who managed more than $215M in client assets - moving over to Raymond James. (previous)
  • Nov. 21, 2012, 1:36 PM
    More MBS lawsuits: Morgan Stanley (MS) is taken to court by Germany's DZ Bank over about $694M in questionable securities. Bank of America (BAC) is sued by CIFG Assurance, which claims it was duped into providing about $150M of insurance to make more marketable toxic MBS the bank otherwise couldn't find a buyer for.
  • Nov. 19, 2012, 11:14 AM
    A fund managed by Morgan Stanley (MS) is nearing the purchase of a Moscow shopping mall in a deal valued at more than $1B, reports Bloomberg. It would be the 2nd mall purchase by a Morgan fund this year as the company joins others trying to cash in on the booming consumer market.
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  • Nov. 14, 2012, 4:38 PM
    David Tepper's Appaloosa Management goes for the financials, opening about a $250M position in AIG, a $96M position in JPMorgan (JPM), and a $8M position in Morgan Stanley (MS). Also new in the portfolio are 10K call options on Hartford Financial (HIG). He upped his stake in Citigroup (C) by about 10% to $309M, and cut his stake in Bank of America (BAC) by nearly 30% to about $25M. The fund has about $25B AUM. (13-F)
  • Nov. 7, 2012, 6:47 AM
    Morgan Stanley (MS) moves to sell its India private wealth management business ($1B AUM), according to sources, just 4 years after entering the market. "People get smitten by the India opportunity," says one source, "but very few people will succeed in this market."
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  • Nov. 6, 2012, 1:20 PM
    Morgan Stanley(MS) loses a few more rainmakers in its wealth management business as a 3-person team - which managed $423M - moves to UBS. Morgan has issues with advisors frustrated over technology issues and culture clashes since the merger with Smith Barney.
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  • Nov. 5, 2012, 2:01 PM
    Morgan Stanley (MS) may be able to gain momentum for its stock by speeding up the pace at which it cuts its fixed income trading assets, says UBS' Brennan Hawken. Even with the current poor investment banking environment, Hawken thinks ROE could be boosted by 40-100 bps. (Previous: UBS cuts its FICC desk)
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  • Nov. 5, 2012, 8:53 AM
    There's a management shake-up at Morgan Stanley (MS), where investment bank co-President Paul Taubman announces he will retire at year's end, leaving the job solely to Colm Kelleher. It's fair to say the two had a strained relationship. (PR)
  • Oct. 23, 2012, 12:08 PM
    Contrary to a WSJ report, Goldman Sachs (GS) says it's never "seriously" considered selling off its commodities operation to fit into any new regulatory structure. Morgan Stanley (MS) on the other hand, has been in continuing talks to unload a majority stake in its commodity business to Qatar's SWF.
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  • Oct. 22, 2012, 3:58 PM
    S&P more than doubles to $10B the amount of annual profit it estimates banks stand to lose as a result of the Volcker rule. "Stricter rules could lead us to take negative rating actions on certain banks." In addition to the usual 6 TBTF names, PNC and USB were included in the analysis. The combined profits of all 8 lenders will sum to less than $100B this year.
  • Oct. 22, 2012, 1:18 PM
    Morgan Stanley (MS) loses heavy-hitting ($2.5B in client assets) financial adviser Rebecca Rothstein and her team to BAML. Frustrated with technology issues and the culture clash resulting from the MSSB merger, a number of major rainmakers have exited Morgan this year.
  • Oct. 19, 2012, 2:12 PM
    Some digging into Morgan Stanley's (MS) quarterly report shows the company looks to have staved off the exodus of a group of high-producing brokers. The number of wealth managers declined by 105 to 16.8K, but annualized revenue/adviser rose, suggesting those who left had smallish books.
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  • Oct. 18, 2012, 10:30 AM
    "Clients re-engaged and continued to re-engage throughout the quarter," says Morgan Stanley (MS) CFO Ruth Porat, as trading revenues bounced once the drawn-out ratings cut process was resolved. As for the reduction in VaR - it was accomplished by looking back just 1 year as opposed to 4 (which would include 2008). Why it matters: Lower VaR = easier to meet capital requirements = better chance of buybacks/higher dividends.
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  • Oct. 18, 2012, 7:50 AM
    More Morgan Stanley (MS): Value-at-Risk falls to $63M from $76M last quarter, $99M a year ago. The big drop is odd given the Basel requirement for more stringent VaR, but Morgan says regulators have given their okay. A lower VaR makes it easier for the bank to meet its capital requirements. Shares +1.3% premarket. (PR)
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Company Description
Morgan Stanley is a financial services firm that, through its subsidiaries and affiliates, provides its products and services to a diversified group of clients and customers, including corporations, governments, financial institutions and individuals.