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Morgan Stanley (MS)

  • Feb. 28, 2013, 4:14 PM
    Morgan Stanley (MS) announces the sale of the rest of its stake - 7.46M shares, about one-sixth of the float - in DigitalGlobe (DGI). (PR)
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  • Feb. 28, 2013, 12:43 PM
    Morgan Stanley (MS) amends its Q4 earnings, bumping profit by $87M thanks to a tax benefit. This adds 17% to the quarter's income, bringing it to $594M, or $0.29/share from $507M, or $0.25.
  • Feb. 27, 2013, 9:10 AM
    Morgan Stanley (MS) is in talks to sell its Indian wealth management business to Standard Chartered (SCBFF.PK), reports Bloomberg. Morgan was reported several months ago as looking to unload the struggling unit. StanChart wii perhaps give it a go in a market where so many others have failed.
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  • Feb. 25, 2013, 12:50 PM
    In another management departure at cost-conscious Morgan Stanley (MS), Jacques Chappuis - the head of the bank's fund-of-hedge-funds business - is leaving the firm to join Carlyle Group (CG). He will be succeeded by Arthur Lev, who will add this position to his current duty as head of Morgan's long-only operations.
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  • Feb. 22, 2013, 7:29 AM
    Morgan Stanley (MS) makes another shopping mall investment in Russia in a year with one of its funds buying a Moscow shopping mall. Terms are undisclosed, but the deal's value is estimated at more than $1B. It's a significant amount - Russian commercial real estate sales were just $5.9B in 2012's first 9 months.
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  • Feb. 19, 2013, 9:27 AM
    James Gorman (MS) has made a big bet with the Smith Barney purchase and now it's time to monetize. Investment bankers traditionally look down their noses at the retail business, but MS investment chief Colm Kelleher has a message - it's time for the two to work together. They call it Sheep Shearing Season in Australia, writes Josh Brown.
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  • Feb. 15, 2013, 7:38 AM
    "The Goldilocks era of post-crisis M&A has never been an if, but a when," says JPMorgan (JPM) vice-chair James Lee. "CEOs are declaring that day has come." Including the Berkshire buy, $40B in deals were announced yesterday and $140B this month. Transaction volume is up 27% Y/Y vs. an 8% slump for 2012. It should mean sweet profits for the newly lean banks.
  • Feb. 4, 2013, 2:27 PM
    Morgan Stanley (MS) global head of corporate affairs Jeanmarie McFadden is leaving the firm, according to an internal memo. Hers is the latest in a series of high-level departures from the bank, although - as a member of the management committee - she was presumably on the list of those getting raises last week.
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  • Jan. 31, 2013, 5:04 PM
    Morgan Stanley (MS) bumps the base salary of CEO James Gorman to $1.5M from $800K. Additionally, Gorman is eligible for a performance-based bonus of $3.75M (up from $1.94M) "if the company achieves predetermined goals" for the period of 2013-15. The other members of the bank's management committee also get raises.
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  • Jan. 31, 2013, 7:34 AM
    Morgan Stanley (MS) has another high-level departure as the company (along with new investor Dan Loeb) takes aim at compensation costs. This time it's Asia CFO David Sutherland, reports the WSJ. (previous)
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  • Jan. 30, 2013, 7:10 AM
    Morgan Stanley's (MS) chief cross-asset strategist Greg Peters - apparently interested in the more lucrative buy side - is leaving the bank. Morgan, of course, is in tightening mode, eliminating positions and deferring bonuses for most employees making over $350K.
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  • Jan. 25, 2013, 4:35 AM
    Morgan Stanley (MS) has reportedly cut the salary package of CEO James Gorman for a second year in a row following a mixed performance last year, with his 2012 pay falling to $6M from $8.56M in 2011. Gorman's compensation includes $800,000 in salary, $2.6M in deferred cash and $2.6M in stock options but no cash bonus. Gorman joins JPMorgan's Jamie Dimon in receiving a pay cut, although Goldman Sachs' Lloyd Blankfein is in line for a raise.
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  • Jan. 24, 2013, 12:59 PM
    Following the exodus of several big guns in wealth management over technology issues, Morgan Stanley (MS) plans to spend $500M over the next 18 months to beef up its systems, according to a company memo. About to gain another $140B in deposits when it acquires the rest of Smith Barney, expanding banking and lending capabilities will also be a priority. 
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  • Jan. 18, 2013, 2:25 PM
    "We see a clear path to meeting and then exceeding our cost of equity," says Morgan Stanley (MS +7.3%) CEO Gorman on the conference call (transcript). The first order of business will be getting regulatory approval to acquire the rest of Smith Barney - wealth management had a pre-tax margin of 17% in Q4, ahead of a 15% goal. In the areas of risk-asset and expense reduction, the bank is also well ahead of its goals. (earnings)
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  • Jan. 18, 2013, 9:10 AM
    Premarket gainers: PATH +16%. LIFE +12%. NEWL +8%. RIMM +8%. MS +7%. SNE +7%. GERN +5%.
    Losers: FNSR -10%. TSRX -9%. WIT -8%. COF -7%. INTC -6%.
  • Jan. 18, 2013, 7:30 AM
    More on Morgan Stanley (MS) Q4 earnings: Global wealth management income of $581M vs. $238M a year ago. Asset management fee revenues +16%. Trading remains sluggish, with transactional revenue -3%. Speaking on CNBC, CEO Gorman announces plans to acquire the rest of Smith Barney from Citigroup. Shares +3.1% premarket. (PR)
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Company Description
Morgan Stanley through its subsidiaries and affiliates, provides financial products and services to a diversified group of clients and customers, including corporations, governments, financial institutions and individuals.