Morgan Stanley – The News Desk

Fast-Fashion Giant Shein Files to Go Public

28Nov

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Money

Fast-Fashion Giant Shein Files to Go Public

Updated Nov. 27, 2023 7:11 pm ETShein, the China-founded online fashion company that won over hundreds of millions of shoppers around the world, has confidentially filed to go public in the U.S. in what could be one of the biggest IPOs in years. Goldman Sachs, JPMorgan Chase and Morgan Stanley have been hired as lead underwriters on the offering, which could happen in 2024, people familiar with the matter said. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Wall Street Eyes Nikki Haley as Trump Spoiler

18Nov

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World

Wall Street Eyes Nikki Haley as Trump Spoiler

Big hitters on Wall Street are lining up to support Nikki Haley’s long-shot bid to snatch the 2024 Republican presidential nomination from Donald Trump.“There’s a desperate, desperate hunt for anybody but Trump,” said one of the roughly 30 senior executives The Wall Street Journal spoke with to gauge the mood of the finance set roughly a year ahead of the election. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Fed Probes Morgan Stanley’s International Wealth-Management Practices

8Nov

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Money

Fed Probes Morgan Stanley’s International Wealth-Management Practices

Morgan Stanley’s wealth-management arm is being scrutinized by the Federal Reserve, which is looking into whether the bank has sufficient controls in place to prevent rich foreign customers from laundering money. The Fed has been probing how Morgan Stanley vets foreigners and the origins of their money before taking them on as customers, according to people familiar with the matter. What started out as a routine review a few years ago escalated after regulators found the bank’s due diligence on clients and anti-money-laundering efforts lacking. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Big Banks Cook Up New Way to Unload Risk

7Nov

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Money

Big Banks Cook Up New Way to Unload Risk

U.S. banks have found a new way to unload risk as they scramble to adapt to tighter regulations and rising interest rates. JPMorgan Chase, Morgan Stanley, U.S. Bank and others are selling complex debt instruments to private-fund managers as a way to reduce regulatory capital charges on the loans they make, people familiar with the transactions said.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Morgan Stanley says oil at $110 could prompt RBI to hike rates again

6Nov

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Business

Morgan Stanley says oil at $110 could prompt RBI to hike rates again

Morgan Stanley estimates a sustained oil price of $110 a barrel could undermine India’s economic stability, likely forcing the central bank to resume hiking interest rates.As the world’s third-biggest consumer of oil, India is one of the most exposed economies in Asia to rising crude prices. A $10 increase in oil prices boosts inflation by 50 basis points and contributes to a 30 basis-point widening in the current account balance, Morgan Stanley’s economists estimate.Oil above $110 a barrel would be destabilizing for India’s economy, the investment bank said, resulting in higher domestic fuel prices and second-round inflationary effects.The current account deficit would also likely widen to beyond the comfort level of 2.5% of gross domestic product, it said.“With macro stability indicator...

Morgan Stanley Wins Four 2023 Money Management Institute (MMI)/Barron’s Industry Awards

3Nov

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Money

Morgan Stanley Wins Four 2023 Money Management Institute (MMI)/Barron’s Industry Awards

Morgan Stanley (NYSE: MS) announced today that it has won four Industry Awards from the Money Management Institute (MMI) and Barron’s, the most of any firm. The awards include a Digital Innovation award for Morgan Stanley’s Portfolio Risk Platform, a Disruption award for Morgan Stanley’s UMA Fractional Share Program, a Sustainable & ESG Investing Award for Morgan Stanley IQ ®, and a Doing Good award for Morgan Stanley’s Strategy Challenge. “Being recognized by MMI/Barron’s in four categories is truly an honor,” said Andy Saperstein, Co-President of Morgan Stanley and Head of Morgan Stanley Wealth Management. “These awards reflect our ability to leverage technology to create innovative solutions in investment advisory for the benefit of our clients and Financial Adviso...

Morgan Stanley’s James Gorman Picked a Good Time to Leave

28Oct

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Money

Morgan Stanley’s James Gorman Picked a Good Time to Leave

Oct. 28, 2023 10:27 am ETJames Gorman guided Morgan Stanley through years of superlow interest rates and booming stock markets. His successor, Ted Pick, might have to come up with some new ideas for a new era.Gorman, who will step down at the end of the year after almost 14 years as chief executive, bet big on wealth and asset management by absorbing all of Smith Barney and later buying E*Trade and Eaton Vance. He certainly had the right strategy in the market’s eyes: Since the start of 2010, when he became CEO, the firm’s 8.6% annualized total return has been second only to JPMorgan Chase’s among the U.S. global banks, according to FactSet data. And by valuation, Morgan Stanley has often been the leader of the pack, generally trading at a higher price-to-book ratio than even JPMorgan sin...

28Oct

By adminNo Comments

World

Morgan Stanley’s James Gorman Picked a Good Time to Leave

Oct. 28, 2023 10:27 am ETJames Gorman guided Morgan Stanley through years of superlow interest rates and booming stock markets. His successor, Ted Pick, might have to come up with some new ideas for a new era.Gorman, who will step down at the end of the year after almost 14 years as chief executive, bet big on wealth and asset management by absorbing all of Smith Barney and later buying E*Trade and Eaton Vance. He certainly had the right strategy in the market’s eyes: Since the start of 2010, when he became CEO, the firm’s 8.6% annualized total return has been second only to JPMorgan Chase’s among the U.S. global banks, according to FactSet data. And by valuation, Morgan Stanley has often been the leader of the pack, generally trading at a higher price-to-book ratio than even JPMorgan sin...

Ted Pick Is a Math Whiz Among Math Whizzes. He’s the New Morgan Stanley CEO

26Oct

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World

Ted Pick Is a Math Whiz Among Math Whizzes. He’s the New Morgan Stanley CEO

Oct. 26, 2023 12:48 pm ETA group of Morgan Stanley executives attending a post-workday dinner in London were ready to call it a night. Ted Pick wanted to play a game.The veteran banker, who had organized the outing, challenged his colleagues to beat him at math equations. They began throwing out six-figure numbers to be multiplied by other large numbers. Pick nailed every equation before anyone else could. He even beat one executive who was using a calculator. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

26Oct

By adminNo Comments

Money

Ted Pick Is a Math Whiz Among Math Whizzes. He’s the New Morgan Stanley CEO

Oct. 26, 2023 12:48 pm ETA group of Morgan Stanley executives attending a post-workday dinner in London were ready to call it a night. Ted Pick wanted to play a game.The veteran banker, who had organized the outing, challenged his colleagues to beat him at math equations. They began throwing out six-figure numbers to be multiplied by other large numbers. Pick nailed every equation before anyone else could. He even beat one executive who was using a calculator. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8