In a regulatory filing Wednesday, Morgan Stanley disclosed that it had granted James Gorman, the new head of the firm’s retail brokerage unit, around $29 million in company stock, plus options on another 302,128 shares.
Stockbrokers have won their second big overtime pay case against Wall Street firms and this may only be the beginning of a rout that could cost brokerage houses many millions of dollars more.
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Is the U.S. economy in for a recession this year? Or next year, perhaps? Most economists say it’s not likely, arguing the U.S. economy is on solid ground. Still, they acknowledge the potential appearance of some very significant banana peels...
During his tenure at Merrill Lynch, James Gorman doubled profit margins and raised broker productivity by a third—giving him the ideal resume for turning around Morgan Stanley’s beleaguered retail unit.
The chairman of fund complex MFS Investment Management is calling for the formation of a task force to overhaul performance reporting for hedge funds. In a keynote address today to the National Investment Company Service Association’s (NICSA...
Merrill Lynch has agreed to merge its asset-management business with BlackRock in exchange for a nearly 50 percent stake in money manager, the two companies said Wednesday. The move recasts BlackRock as the largest publicly traded money manager...
It would seem that there’d be little difference between advising married couples and individuals. After all, husbands and wives come together out of a shared prospective on life. They think as one. Well, that may be true unless the subject...
Merrill Lynch is close to doing what Morgan Stanley could not: Acquire a large stake in BlackRock, the stellar bond funds house, in a deal that would create a $1 trillion money manager.
