FAIR Canada has called for increased disclosure requirements on these products in Canada
Bucking the trend among big financial firms lately, Morgan Stanley reported a loss for its second quarter.The firm recorded a loss from continuing operations of US$159 million for the second quarter ended June 30, compared with income of US$689 million in the period a year ago. The results include a number of significant items, including: […]
The new joint venture in wealth management by Morgan Stanley and Citigroup has formed a new firm to provide investment consulting advice to institutional investors and the upper-tier private wealth market.The new firm, Graystone Consulting, is an outgrowth of Citi Institutional Consulting, which was formed in 2006.Graystone is currently comprised of 30 institutional-focused teams in […]
Combined firm boasts over 18,500 financial advisors
Wall Street bank Morgan Stanley is selling off the rest of its index and portfolio analytics business, MSCI Inc., Morgan Stanley said Monday.The firm is pricing a secondary offering for all of its remaining 27,708,653 shares of MSCI class A common stock, at US$21.50 per share, a deal that would raise about US$595 million for […]
Revenues plunge 62% from a year ago
The Financial Industry Regulatory Authority announced that it has fined Morgan Stanley & Co. US$3 million — and ordered it to pay more than US$4.2 million in restitution to 90 retirees – to resolve charges that its supervisory system failed to detect and prevent brokers from persuading workers to take early retirement based upon unrealistic […]
Morgan Stanley Smith Barney joint venture combines 20,000 financial advisors
Morgan Stanley lost US$2.3 billion in its fourth quarter, ended Nov. 30, ending a string of three profitable quarters, the company reported Wednesday.For the quarter, the net loss was US$2.295 billion, compared with the net loss of US$3.6 billion in the fourth quarter of 2007.The loss from continuing operations for the fourth quarter was US$2.195 […]
Morgan Stanley today announced that it has begun new initiatives to use its financial advisors to help attract deposits.The firm said that it has started a campaign involving its 8,500 advisors to raise client awareness about the banking services available through its wealth management division.The Wall Street firm is also planning to introduce new bank […]