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Jan 27, 2015

Wall Street back to ‘business as usual’ as storm wanes

NEW YORK (Reuters) – Wall Street was largely back to business as usual on Tuesday after a storm that had threatened to blanket New York with a few feet of snow ended up dumping several inches instead.

Major U.S. stock and bond markets were open, with trading volumes higher than they had been the previous day, when ominous weather forecasts and transit shutdowns put a chill on business activity.

Jan 23, 2015

Morgan Stanley awards CEO $4.4 mln in restricted stock

Jan 23 (Reuters) – Morgan Stanley’s board of
directors awarded Chairman and Chief Executive James Gorman $4.4
million in restricted stock as part of his 2014 bonus, the Wall
Street bank said in a regulatory filing on Friday.

Morgan Stanley did not disclose other parts of Gorman’s
compensation package, which in the prior year also included cash
and deferred cash, in addition to his base salary.

Jan 20, 2015

Morgan Stanley eyes more buybacks, bigger dividend in 2015

NEW YORK, Jan 20 (Reuters) – Morgan Stanley plans to
spend more money on share buybacks and dividends in 2015,
executives said, in a step that could help the bank reach a key
profitability target this year.

The bank needs approval from the U.S. Federal Reserve before
it can put more money toward shareholder rewards. Morgan Stanley
has submitted a capital plan for 2015, but executives said on
Tuesday that they are wary of detailing specifics until they
receive a green light from the Fed.

Jan 20, 2015

Morgan Stanley profit falls short of expectations

Jan 20 (Reuters) – Morgan Stanley’s adjusted
quarterly earnings fell short of market estimates as unexpected
market swings in December hit its division that trades bonds,
currencies and commodities and the Wall Street bank deferred
fewer bonus payments.

Choppy markets caused by factors ranging from plunging oil
prices to political upheaval in Greece, sent investors scurrying
last month, slashing the trading revenue of U.S. banks including
Morgan Stanley arch rival Goldman Sachs Group Inc.

Jan 16, 2015

Goldman Sachs touts commodities muscle as rivals shrink

NEW YORK, Jan 16 (Reuters) – Goldman Sachs Group Inc
stuck with commodities trading while rivals have pulled back,
and on Friday the bank felt vindicated.

While Goldman does not disclose revenue for commodities
trading specifically, Chief Financial Officer Harvey Schwartz
highlighted it as a bright spot in the bank’s broader
fixed-income trading business, which had a rough quarter.

Jan 16, 2015

Goldman Sachs profit hit by weak fixed-income trading

By Anil D’Silva and Lauren Tara LaCapra

(Reuters) – Goldman Sachs Group Inc reported a 7 percent drop in fourth-quarter profit as sharp market moves in December hit its bond-trading business.

Fixed-income trading, long a strength for the bank, came under pressure last year due to stricter capital rules in the aftermath of the financial crisis and relatively calm markets that discouraged clients from trading.

Jan 16, 2015

Goldman hit by weak fixed-income, investment banking revenue

Jan 16 (Reuters) – Goldman Sachs Group Inc reported a
7 percent drop in quarterly profit as investment banking revenue
slid and an unexpected bout of market volatility in December hit
revenue in its business that trades bonds, currencies and
commodities.

Goldman’s net income fell to $2.17 billion, or $4.38 per
share, in the fourth quarter from $2.33 billion, or 4.60 per
share, a year earlier.

Jan 15, 2015

Morgan Stanley execs visit brokerages to reassure after data theft

NEW YORK, Jan 15 (Reuters) – The leadership team of Morgan
Stanley’s wealth management business has been visiting
brokerage offices around the country since last week to reassure
advisers and clients in the wake of an alleged data theft by a
former employee, people familiar with the matter told Reuters.

Executives including Gregory Fleming, president of the
division; Chris Randazzo, chief information officer; and Shelley
O’Connor, who oversees the brokerage force, have been fielding
calls from concerned advisers since Morgan Stanley announced the
data theft on Jan. 5.

Jan 14, 2015

Morgan Stanley names new commodity chiefs in surprise switch

NEW YORK, Jan 14 (Reuters) – Morgan Stanley appointed
two new executives on Wednesday to run one of Wall Street’s last
big commodity trading operations following the unexpected
departure of the previous co-heads.

Nancy King and Peter Sherk, insiders who have worked in the
bank’s commodities group for more than a decade, have taken on
day-to-day responsibility for the business, effective
immediately, according to a memo sent by Colm Kelleher,
president of institutional securities.

Jan 14, 2015

Morgan Stanley appoints new global commodities leaders

NEW YORK, Jan 14 (Reuters) – Morgan Stanley appointed
two new executives to run its commodities business on Wednesday
as the previous co-heads left their roles.

Nancy King and Peter Sherk have taken on day-to-day
responsibility for the business, effective immediately, Colm
Kelleher, president of institutional securities, said in a memo
to the institutional securities division.