Financials James Gorman

  • Oct 28- Morgan Stanley Chief Operating Officer Jim Rosenthal will retire at the end of the year, according to an internal memo sent to employees by CEO James Gorman on Friday. Rosenthal, who helped oversee the integration of Morgan Stanley with Smith Barney, will continue to serve as a senior adviser at the Wall Street firm, the memo said. A Morgan Stanley spokesman...

  • Oct 26- Morgan Stanley said on Wednesday it would allow its wealth management clients to choose the way they pay the firm for retirement accounts covered by a new fiduciary rule. The Department of Labor rule, announced in April, sets a standard for brokers who sell retirement products and requires them to put clients' best interests ahead of their own bottom line.

  • Oct 25- Morgan Stanley Chief Executive Officer James Gorman questioned the need for U.S. companies to report earnings every quarter, calling the practice "asinine." "Gorman said on Tuesday at a conference hosted by Bloomberg L.P. in New York. Gorman joins Wall Street leaders like BlackRock Inc CEO Larry Fink and JPMorgan Chase& Co CEO Jamie Dimon who have called on...

  • Oct 25- Morgan Stanley CEO James Gorman questioned the need for companies to report earnings every quarter, calling the practice "asinine." "This is one thing the Brits definitely have figured out with six month reporting," Gorman said on Tuesday at a conference hosted by Bloomberg L.P. in New York. " Gorman joins Wall Street leaders like BlackRock Inc CEO Larry Fink...

  • Oct 19- Morgan Stanley reported a better-than-expected profit on Wednesday, boosted by a surge in bond trading that helped all Wall Street banks last quarter. Its adjusted bond-trading revenue more than doubled, hitting Chief Executive James Gorman's revenue target for that business for the second quarter in a row. Overall, Morgan Stanley's earnings...

  • Oct 19- Morgan Stanley plans to announce in the coming weeks how its wealth-management business will comply with a new U.S. rule intended to protect retirement savers, Chief Executive James Gorman said on Wednesday. Gorman declined to give details, but hinted that providing wealth clients with choice about account options and how they pay the firm is a priority.

  • Oct 19- Morgan Stanley reported a better-than-expected profit on Wednesday, boosted by a surge in bond trading that helped all Wall Street banks last quarter. Its adjusted bond-trading revenue more than doubled, hitting Chief Executive James Gorman's revenue target for that business for the second quarter in a row. Overall, Morgan Stanley's earnings...

  • Oct 19- Morgan Stanley reported a better-than-expected profit on Wednesday, boosted by a surge in bond trading that helped all Wall Street banks last quarter. Its adjusted bond-trading revenue more than doubled, hitting Chief Executive James Gorman's revenue target for that business for the second quarter in a row. Overall, Morgan Stanley's earnings...

  • Oct 19- Morgan Stanley reported a better-than-expected quarterly profit on Wednesday, boosted by a surge in bond trading that followed Britain's surprise vote to leave the European Union and bouts of anxiety about monetary policy around the world. Earnings applicable to shareholders rose 61.7 percent to $1.52 billion from $939 million for the quarter...

  • WASHINGTON, Oct 9- It wasn't just Deutsche Bank that was grappling with big questions about the future at the International Monetary Fund meetings in Washington last week. "It is a game changer, not just for banks but for the whole financial industry," he told an audience from the Institute of International Finance, a trade group for big banks that holds its annual...

  • WASHINGTON, Oct 7- Britain's vote to leave the European Union has made it more likely that the euro zone will not be around in 10 years, JPMorgan Chase& Co CEO Jamie Dimon told bankers on Friday. "Brexit makes the chance of the euro zone not surviving 10 years from now five times higher," Dimon said at the Institute of International Finance's 2016 annual membership...

  • Bank consultants say tens of millions of dollars are spent each year on initiatives to build a culture of integrity, partly at the urging of regulators such as the Federal Reserve Bank of New York and the U.S. Office of the Comptroller of the Currency. Wells Fargo's debacle- involving the creation of as many as 2 million accounts without customers' permission- is...

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  • NEW YORK, July 29- Big U.S. brokerages are redefining the term "wealthy" in their pursuit of ever-richer clients to prop up margins eroded by historically low interest rates and growing regulatory burdens. Clients with less than $750,000 are now considered "mass affluent," meaning they may not get the same service as top customers because their financial needs are...

  • A 'Vote LEAVE' battle bus is re-branded outside the Houses of Parliament in Westminster by the environmental campaign group Greenpeace on July 18, 2016 in London, England.

    When it came to the Brexit vote, Wall Street banks (and traders) assumed the worst. But they may have gotten it wrong.

  • The Wall Street bank reported a lower second-quarter profit on Wednesday, but beat expectations by delivering relatively strong bond-trading revenue and cutting expenses. Chief Executive James Gorman has faced tough questions from analysts about the state of its fixed income, currency and commodities trading unit since taking the helm of the bank in 2010.

  • July 20- Morgan Stanley Chief Executive James Gorman said on Wednesday he has "no clue" how the bank should allocate employees in Europe following Britain's vote to leave the European Union. Having a headquarters in the European Union is important to banks and financial companies as it allows firms in one EU country to provide services to clients elsewhere in...