James Gorman, chairman and chief executive of Morgan Stanley, speaks during the Global Financial Leader's Investment Summit in Hong Kong, China, on Tuesday, Nov. 7, 2023.
The de-facto central bank of the Chinese territory is this week holding its global finance summit for a second year in a row.
Photographer: Lam Yik/Bloomberg via Getty ImagesSINGAPORE — Morgan Stanley Chairman and CEO James Gorman said his firm will be able to cope with "any form" that new banking regulations end up taking, but added he expects some watering down before the final rules are confirmed.
U.S. regulators on Tuesday defended their plans for a sweeping set of proposed changes to banks' capital requirements, speaking in front of the U.S. Senate Banking Committee.
These proposed changes in the U.S. seek to incorporate parts of international banking regulations known as Basel III, which was agreed to after the 2008 crisis and has taken years to roll out.
Persons:
James Gorman, Morgan Stanley, Lam Yik, Getty Images SINGAPORE — Morgan Stanley, it's, Gorman, Morgan, I've
Organizations:
Financial, Investment, Bloomberg, Getty Images SINGAPORE, U.S . Senate Banking Committee, Basel III, CNBC, Pacific, Federal Reserve, Fed
Locations:
Hong Kong, China, U.S, Basel, —, Morgan Stanley's, Asia, Singapore, New York