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Feb 26, 2014

Morgan Stanley’s wealth unit names three executives to new roles

By Lauren Tara LaCapra

(Reuters) – Morgan Stanley’s wealth management unit has named three executives to new roles as part of its strategy to sell more products to clients and increase its loan book.

Doug Ketterer is taking on a new position as head of strategy and client management, according to a staff memo sent on Wednesday.

Feb 25, 2014

Morgan Stanley could pay $275 million to settle SEC probe

NEW YORK (Reuters) – Morgan Stanley has reached a $275 million proposed settlement with the U.S. Securities and Exchange Commission that would allow the Wall Street bank to move past a substantial legal overhang from the financial crisis.

Morgan Stanley said in an annual filing on Tuesday that it has reached an “agreement in principle” with SEC enforcement staff that would not require it to admit any wrongdoing.

Feb 12, 2014

Insight: Wall Street’s most eligible banker Fleming waits for suitor

NEW YORK (Reuters) – Wall Street power brokers are betting that Greg Fleming will be chief executive of a major U.S. company one day, but no one is quite sure of which one or when.

Fleming, the head of Morgan Stanley’s wealth and asset management businesses, is on the bank board’s list of candidates who could potentially succeed Chief Executive James Gorman, according to sources with direct knowledge of the situation.

Feb 12, 2014

Wall Street’s most eligible banker Fleming waits for suitor

NEW YORK, Feb 12 (Reuters) – Wall Street power brokers are
betting that Greg Fleming will be chief executive of a major
U.S. company one day, but no one is quite sure of which one or
when.

Fleming, the head of Morgan Stanley’s wealth and
asset management businesses, is on the bank board’s list of
candidates who could potentially succeed Chief Executive James
Gorman, according to sources with direct knowledge of the
situation.

Feb 11, 2014

Goldman Sachs adds five executives to management committee: memos

NEW YORK (Reuters) – Goldman Sachs Group Inc (GS.N: Quote, Profile, Research, Stock Buzz) said in staff memos on Tuesday that it has added five executives to its management committee, the latest in a series of promotions and departures near the top of the Wall Street bank over the past few years.

The new management-committee members are Paul Russo, Michael Daffey, Justin Gmelich, Craig Broderick and Sarah Smith, according to the memos, which were signed by Chief Executive Lloyd Blankfein and Chief Operating Officer Gary Cohn. They were confirmed by a spokesman.

Feb 11, 2014

Goldman Sachs adds five execs to management committee -memos

NEW YORK, Feb 11 (Reuters) – Goldman Sachs Group Inc
said in staff memos on Tuesday that it has added five executives
to its management committee, the latest in a series of
promotions and departures near the top of the Wall Street bank
over the past few years.

The new management-committee members are Paul Russo, Michael
Daffey, Justin Gmelich, Craig Broderick and Sarah Smith,
according to the memos, which were signed by Chief Executive
Lloyd Blankfein and Chief Operating Officer Gary Cohn. They were
confirmed by a spokesman.

Jan 30, 2014

Mitsubishi UFJ hunts to acquire U.S. bank or branch network

NEW YORK (Reuters) – Mitsubishi UFJ Financial Group Inc (8306.T: Quote, Profile, Research, Stock Buzz) is still on the hunt to acquire a bank or branch network to reach its goal of becoming one of the 10 largest U.S. banks by 2016, a senior bank official said on Wednesday.

“I am more than confident – 100 percent confident, we’re 1,000 percent confident that my colleagues here in the States will achieve that goal within a couple of years,” Masaaki Tanaka, deputy president of MUFG, told Reuters in an interview.

Jan 29, 2014

Exclusive: Mitsubishi UFJ, Morgan Stanley eye deal to serve hedge funds

NEW YORK (Reuters) – Morgan Stanley and Mitsubishi UFJ Financial Group Inc are considering forming a partnership to provide administrative services to hedge funds, a senior official of the Japanese lender said on Wednesday.

The two banks have been examining ways to collaborate in that area since MUFG purchased a fund-servicing business last year, Masaaki Tanaka, deputy president of MUFG, told Reuters in an interview.

Jan 29, 2014

Exclusive: Mitsubishi UFJ hunts to acquire U.S. bank or branch network

NEW YORK (Reuters) – Mitsubishi UFJ Financial Group Inc (8306.T: Quote, Profile, Research, Stock Buzz) is still on the hunt to acquire a bank or branch network to reach its goal of becoming one of the 10 largest U.S. banks by 2016, a senior bank official said on Wednesday.

“I am more than confident – 100 percent confident, we’re 1,000 percent confident that my colleagues here in the States will achieve that goal within a couple of years,” Masaaki Tanaka, deputy president of MUFG, told Reuters in an interview.

Jan 24, 2014

Morgan Stanley CEO Gorman gets $4.9 million stock award: filing

NEW YORK (Reuters) – Morgan Stanley (MS.N: Quote, Profile, Research, Stock Buzz) Chief Executive James Gorman received a $4.9 million stock bonus for his performance in 2013, up 86 percent from the year before, according to a regulatory filing, as the company’s income jumped.

The bonus of 155,207.47 shares is just one part of Gorman’s pay package. He also received a $1.5 million base salary, as well as long-term incentive rewards, an immediate cash bonus and a deferred cash bonus which have not yet been disclosed by the Wall Street bank.