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LATEST ARTICLES
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Morgan Stanley’s wealth business went from 2.5 million client relationships to 18 million over the course of a couple of years. Now, a quartet of steely US regulators is looking at how the division manages potentially risky clients. Given its rapid pace of growth, this is perhaps less of a surprise than it initially appears.
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Once again, Morgan Stanley takes the award for best private bank for sustainability in North America this year. The bank shows consistent leadership in this space with its Investing with Impact platform that now boasts over 300 financial products and accounted for $69 billion in client assets, as of September 2023.
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No industry will be more overwhelmingly affected by new forms of artificial intelligence – both generative-AI and other technology to come – than banking. Costly but cost-effective, it is up to banks to make AI work for them, not the other way around.
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Regulators are making more mileage out of their settlement with Morgan Stanley than the outcome really deserves.
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Morgan Stanley has for years touted its expertise and adherence to confidentiality as reasons to choose it over rivals for equity block trades. But charges brought by regulators over leakages of confidential information by the bank’s former head of US equity syndicate and another employee now make its historic claims look embarrassing.
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The annual Senate quizzing of US big bank chief executives threw up all the usual favourite partisan arguments, but little else. If this is oversight, it often lacks insight.
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A wealth manager, who came into a legendary but unstable global investment bank and transformed it, hands on a very different and much better firm.
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Continuity is likely to be the theme as incoming leader inherits a well-performing franchise, but competition in wealth management and the markets businesses, as well as a still-lacklustre environment for investment banking, will be among Pick’s challenges.
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Morgan Stanley is a powerhouse in financing. In Asia Pacific ex-China, the US bank helped to complete 42 equity capital markets deals – more than any other bank over the 12 months to the end of March 2023 – worth a total of $5.4 billion, according to Dealogic. And in debt capital markets, it completed 419 deals worth $46.2 billion.
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Morgan Stanley swallowed the market whole this year. There was precious little transaction activity that its investment bankers didn’t play a key role in.
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As the immediate chaos of the global financial crisis subsided, Morgan Stanley took a long hard look at its strategy and chose to focus on wealth and investment management. It is a decision that has paid off. Private banking generates steadier, more reliable income streams than the more cyclical business of investment banking.
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Moribund primary equity capital markets and a rising interest rate environment meant that investment banks were tested more than ever in the past 12 months as they sought to give clients the options they needed in spite of poor conditions.
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Veteran Morgan Stanley investment bankers describe this as the busiest downturn they have ever seen. That is because they have worked on the biggest and most transformative deals in 12 months of shifting values and at times paralyzing uncertainty. The firm has made some cuts, but its new leaders are shaking the business up and bringing in the talent that will be in demand once markets settle.
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The US firm provides the right strategic advice for volatile markets.
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Recent volatility has proved that crisis preparation is the key to success in banking.
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The two chief executives should be on the undercard for the Musk/Zuckerberg cage fight.
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The bank has started the process of choosing a successor to CEO James Gorman just as it tries to settle an investigation into its equity block trading practices. This could pose a challenge for Ted Pick.
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How on earth, in this environment, did the bank deliver one of its best-ever quarters in Asia?
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Experience and expertise in investment are standard characteristics of most private banks. Yet, in the booming asset class of environmental, social and governance-related investments, few banks have the length and depth of experience and expertise of Morgan Stanley.
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Morgan Stanley’s focus and investment in wealth and asset management over the past few years has created an enhanced, powerful and distinctive offering, illustrated by revenues in wealth management hitting a record high of $24 billion in 2022.
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Supporting its recognition as the world’s best private bank for family offices services, Morgan Stanley wins the regional award in this category, too.
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Morgan Stanley Family Office (MSFO) has had a standout year globally. The judges note that this award recognizes its rare ability to differentiate through services to a segment that is sometimes thought of as more demanding in execution than advisory.
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In the wake of the global financial crisis of 2008, Morgan Stanley executives shook up the firm.
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For the past few years, Goldman Sachs has dangled the promise of something new – a diversification in its business mix that would give shareholders a reason to finally re-rate the stock. But while the firm still has the glint of Goldman on the surface, disappointing earnings are revealing something less valuable underneath. Can its second investor day now fix the legacy of the first?
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A decade ago, the bank opted to go long on more durable sources of income – notably wealth management. Its standout 2022 financials are a clear sign of the benefits of long-term planning.
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Elon Musk is full of praise for his bankers at Morgan Stanley. It’s a shame his $44 billion Twitter deal is set to cost the bank money rather than earning a tip for good service.
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This year has seen banks report markdowns on leveraged finance commitments and related exposures, something that is hardly surprising given what has happened to yields. But even with syndicates struggling to offload some high-profile big deals, the troubles seem oddly muted so far.
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An extraordinary series of data protection failures at Morgan Stanley’s wealth management business has seen the SEC fine the company $35 million.
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West Virginia state treasurer Riley Moore has opened another front in a campaign by Republican officials in the US against banks that promote ESG policies.
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Supposedly disappointing second-quarter earnings should have surprised no one and Morgan Stanley’s were quite good.
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This was, as is the norm, a fight between Morgan Stanley and Goldman Sachs. This year the award changes hands between them and goes to Morgan Stanley for the breadth of its successes.
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In a record 12 months for M&A volumes, the big US banks dominated the revenue and volume league tables in Europe while, as usual, Rothschild advised on a higher number of transactions than any other firm.
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The North American capital markets witnessed unprecedented levels of activity over the awards period and Morgan Stanley has demonstrated an impressive ability to come up with differentiated advice and solid execution across all its financing businesses.
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Banks must be able to demonstrate their ability to give the right advice in both good times and bad. Morgan Stanley shows how it is done.
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Aggregate investment banking and markets revenues fell 12% at the big five US investment banks in the first quarter of 2022. Their chief executives were confident that dealflow will return, but were also united in their uncertainty over how central bank responses to inflation will play out in markets.
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Wall Street firms such as Goldman Sachs, JPMorgan and Morgan Stanley are muscling in on the booming market for private share trading – and potentially disrupting existing technology platforms.
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Big numbers don’t always tell a story, but January saw one pop up in three different places. How they connect is intriguing.
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The firm’s old businesses shone in 2021, but what was once the ballast to stabilize their volatile earnings is now the growth story.
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The Morgan Stanley veteran is a sound pick, but is an old-school investment banker the right person to run the world’s largest wealth manager?
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Retirement marks the end of a successful and well-timed career, and removes the most senior woman from Asian investment banking.
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The firm leads in big, transformational M&A and sees advising on the sell side of Spac mergers as a hedge if regulators crack down on mega-deals.
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Strength in equity capital markets and M&A, as well as a close relationship with the bank’s tech team, has created a winning formula this year.
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Under the leadership of James Gorman, Morgan Stanley has reshaped its business mix in ways that it thinks will position it for a world in which its clients need more connectivity than ever. Driving that process in its investment bank is co-president Ted Pick.
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The big six US banks are releasing the loan loss reserves they built up in the pandemic. Where might this end? The answer could be surprising.
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Morgan Stanley retains the advisory award after leading the field in Asia Pacific by volume, deal count and regional diversity. Dieter Turowski is chairman, investment banking at Morgan Stanley Asia Limited.
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It was another stellar period for Morgan Stanley’s financing franchise. The bank’s equity and debt capital markets businesses turned in a strong performance for clients, many of whom were using it to finance deals on which the bank was providing mergers and acquisitions advice. And as it did last year, the firm wins the award for North America’s best bank for financing.
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The period of this year’s Euromoney Awards for Excellence, covering almost exactly the complete market cycle of the pandemic, exposed the need for an investment bank franchise to be unusually adaptable if it was to serve clients over that period.
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Morgan Stanley mourns its top investment banker in the country.
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The investment bank profited in markets and capital raising, as acquisitions set it up for the future
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As financial institutions bolster their balance sheets and business models after Covid-19, Morgan Stanley retains a franchise to which others can only aspire
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In big, complex M&A deals, the firm’s main challenge is which side to work for.
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In November 2019, AbbVie priced a $30 billion, 10-tranche bond that was the fourth-largest corporate bond ever. The trade, which backed AbbVie’s acquisition of Allergan, wrapped up an extraordinary financing package by Morgan Stanley.
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Morgan Stanley rarely seems to put a foot wrong in Asia. As ever, it seemed to be everywhere last year, a key player on the deals that mattered most.
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It was a year of milestones for Morgan Stanley in sustainability, a journey that began in 2013 with the establishment of the Sustainable Investing Institute under Audrey Choi, the bank’s chief sustainability officer.
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The US’s PNC Financial Services and Royal Bank of Canada win the best bank accolades in their respective countries in this year’s Euromoney Awards for Excellence.
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DBS reaffirms its best bank status in the region in this year’s Euromoney Awards for Excellence.
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Just like the global financial crisis, Australia is emerging from Covid-19 more strongly than the rest of the developed world. Investment banks here have never been busier, raising huge sums of equity from one of the world’s largest asset pools. In the first of a two-part series on Australian investment banking, we look at the work that came out of a global pandemic.
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The saga of ESG data looks promising, but the questions about its usefulness for investors drag on.
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After brief illnesses, JPMorgan’s Jamie Dimon and Morgan Stanley’s James Gorman were back on form in this month’s earnings calls.
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Some parts of US investment bank earnings in the first quarter of the year looked more like boom than bust as record trading and debt issuance helped offset weakness elsewhere. Now the banks are building reserves to prepare for coming out of lockdown