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Bank of America announced 93 new managing directors in Global Markets on Thursday. The division in 2022 saw sales and trading revenues climb to its highest mark since 2010.Insider has all the names of the newly promoted MDs. On Thursday the bank announced a new class of 360 managing directors, including 93 from the firm's Global Markets division — up from 86 last year. The bank's Global Corporate and Investment Bank promoted 87 new MDs. BofA made $16.5 billion in 2022 from sales and trading — including a fourth-quarter record of $3.7 billion — the highest tally for the firm since 2010.
Bank of America has announced a new class of 360 managing directors. Insider has the list of the 87 new MDs for the firm's Global Corporate and Investment Bank. It's managing director promotion day at Bank of America. On Thursday, the class of 360 managing directors across the firm were announced internally, up 15% from the 314 promoted in 2022.Insider has the list of the 87 employees who were promoted in the firm's Global Corporate and Investment Bank — the division responsible for dealmaking. That's down 17% from 105 new MDs last year in the division, likely a reflection of a difficult year in investment banking across Wall Street that saw revenues drop in excess of 50%.
Now imagine if your landlord wasn't just some mom-and-pop family that owned your building, but the world's largest private-equity firm. And while it's received a fair share of scrutiny over it, the performance of one of its real-estate funds has reignited criticism. But the Blackstone executives' comments indicated the firm could also be planning to raise rent and evict tenants, which includes those in affordable housing and student housing. Click here to read more about how Blackstone's real-estate strategy is setting the stage for an ugly battle with tenants. Top executives at Davos share their thoughts on how bad things might get in 2023.
Morgan Stanley last week promoted 184 new managing directors, its highest distinction. 40% of the new class of MDs come from the firm's sales and trading division. Morgan Stanley last week announced it had promoted its latest class of managing directors, the highest title at the bank below the C-suite. Of the 184 new MDs, 40% came from the firm's Institutional Securities Group, which houses Morgan Stanley's sales and trading operations and produced robust revenues in 2022 that helped compensate for a drop-off in dealmaking. Here are the names of Morgan Stanley's 2023 class of managing directors:
Starting today, the six big US banks (Bank of America, Citi, Goldman Sachs, JPMorgan, Morgan Stanley, and Wells Fargo) report their Q4 and year-end earnings. But instead of a boring preview on what to expect, I figured I'd have some fun by setting gambling lines on some of the biggest storylines heading into earnings. OK, let's get into the biggest storylines and their odds:David Solomon discusses the recent headcount reduction at Goldman Sachs. What'll be interesting is if he teases even more cuts coming down the line as the bank looks to cut costs. (-150)Background: The bank got ahead of this one by announcing its plans to step back from mortgages earlier this week.
Morgan Stanley just promoted 184 employees to managing director, the highest rank at the firm. It may be a dark week in some corners of Wall Street, but 184 employees of Morgan Stanley just got the announcement of a lifetime: promotion to managing director. MD is the most senior designation at the Morgan Stanley below the C-suite and one of the most prestigious titles on Wall Street. A record 38% of the 184 new MDs are women — up from 33% last year — nudging the overall percentage of women MDs to 24%, the person said. Morgan Stanley started communicating year-end comp to employees on Thursday and is set to report earnings on Tuesday the 17th.
Jan 4 (Reuters) - Geron Corp (GERN.O) said on Wednesday its experimental blood cancer drug helped more patients achieve independence from blood transfusions when compared with a placebo in a late-stage trial, sending its shares up 50%. Geron's lead drug, imetelstat, was being studied in patients with a type of myelodysplastic syndromes (MDS), a difficult to treat family of blood cancers. Patients with the disease require frequent blood transfusions to manage their anemia. The drug also met its secondary goal, with 28% of the patients using the drug not needing transfusion for 24 weeks, compared with 3.3% of the patients on placebo. Geron is also testing the drug for myelofibrosis, a rare type of bone marrow cancer, and expects an interim analysis in 2024.
Big deals for the big (and little) screen. Next year is shaping up to be a big one for media deals. Like many other industries, media quickly turned quiet on the dealmaking front this year as the economy soured. However, a stabilization of interest rates, along with money burning a hole in investors' pockets, could lead to a big 2023, insiders say. The landscape for media deals is fascinating when you consider the two opposing forces, as Lucia pointed out to me.
Wall Street bonuses are predicted to fall as much as 45% this year amid a dealmaking slump. But a recent survey of traders and investment bankers suggests few think the slump will apply to them. The word on Wall Street ahead of the holidays has been loud and clear: Bonuses won't be good this year. Senior traders who predicted big bonus increases said they were expecting to be paid up because their personal P&L was up, according to the survey. Are you concerned about your bonus or taking steps to secure a bigger slice of the bonus pool?
Earlier this week, the Port of Los Angeles posted its lowest level of October since 2009. "Firstly, shippers are still avoiding the West Coast to mitigate the risk of labor strikes at LA and Long Beach. According to Project44 data, total vessel TEU capacity deployed from Europe to the East Coast is up 15.5% compared to Oct 2021. CNBC Supply Chain Heat Map providers warned in the summer and fall of a decrease in manufacturing orders which has impacted the volume of shipping. The lesser container volumes are now being seen off the ports across the East Coast, including New York and New Jersey.
"As shipping lines reduce their vessel calls in the form of blank sailings, this reduces the capacity for outbound volumes. Sea-Intelligence wrote in its recent blank sailings report that it has detected some unannounced cancellations for the calendar-year period of weeks 42-52 in the past two weeks. "Blank sailings have been ramped up drastically on the Transpacific, but not so much on Asia-Europe," said Alan Murphy, CEO at Sea-Intelligence. On Asia-North Europe routes, Sea-Intelligence is only seeing an additional six blank sailings, and on Asia-Mediterranean routes an increase of four blank sailings. The weekly average of vessels waiting this week is 14, waiting for an average of 6.3 days.
The container ship Emma Mærsk docked at the Dapukou container terminal of Ningbo-Zhoushan Port on August 21, 2022 in Zhoushan, Zhejiang Province. Teodoro said Vietnam's close proximity to China and cheap labor are reasons why Vietnam is considered a suitable alternative. Vietnam has taken the lion's share of the manufacturing trade away from China with an almost 360% increase in far-distance trade since 2014 — the year the country started to invest in its maritime and manufacturing sector. Malaysia and Bangladesh have taken apparel manufacturing away from China, according to MDS Transmodal, while Taiwan has seen a marginal uptick in metal manufacturing. Ningbo port hit by Covid policiesThe Port of Ningbo, the world's largest port and the third-largest container port, is the latest Chinese trade hub to see an impact from the government's "Zero Covid" policies.
A striking dockworker on a picket line outside the Port of Liverpool during a strike in Liverpool, UK, on Tuesday, Sept. 20, 2022. The shop stewards who represent union workers accepted Peel Ports request for a meeting at the union office on Tuesday. Supply chain impact from second round of U.K. strikesThe latest development comes amid mounting labor issues linked to inflation at U.K. ports, with workers at the nation's largest port, Felixstowe, beginning another strike this week after one in August. "Unite made it clear that until they have reached their goals these waves of strikes will continue which will have a massive impact on the Christmas business and supply." The CNBC Supply Chain Heat Map shows the present situation at the ports.
Tensions are rising in West Coast port labor battles as unions and port management trade accusations about worker productivity and the awarding of job assignments. Jerome Roberts, GVP of marketing at supply chain consulting company Blume Global, told CNBC the one shift protest had no lasting productivity impact. Logistics companies fear the latest round of accusations will only increase tensions for a supply chain and national port infrastructure already dealing with multiple labor concerns. Project44, which also collects and analyzes port productivity for the CNBC Supply Chain Heat Map, has tracked some recent issues at Seattle operations. Container dwell times at the Port of Oakland have been improving over the month of September, according to Josh Brazil, vice president of supply chain insights at Project44.
The dockworkers at Felixstowe, the largest port in the UK, have started an eight-day strike in protest over their wages and inflation, overlapping with an ongoing strike at Port of Liverpool. Together, the two port strikes threaten imports and exports across industries —much bound for the U.S. — during a critical ramp up in the holiday shipping season. The combined value of weekly trade that moves out of the ports of Felixstowe and Liverpool, according to MDS Transmodal, is nearly $7 billion. The Port said in a statement Tuesday that it was "very disappointed that Unite has announced this further strike action. "This time, it's more likely that supply chains will be under pressure and trade could be affected by the overlapping Liverpool strike," warned Brazil.
This comes as the flow of trade continues to move away from the West Coast with logistics managers worried about a labor strike or lockout. More East Coast trade, and more port congestionThe CNBC Supply Chain Heat Map for the U.S. shows how the continued increase in trade has East Coast ports and Gulf port as the winners in this movement of freight. Maritime prices fallingThe flow of trade away from the West Coast has decreased the demand for vessel space, leading Far East to West Coast maritime freight prices to fall. "Shippers are still bringing in a lot of containers, on the East Coast and West Coast and Gulf Coast as well." Shippers are still hesitant to return re-routed cargo to the U.S. West coast, Sand said.
The Citigroup Inc (Citi) logo is seen at the SIBOS banking and financial conference in Toronto, Ontario, Canada October 19, 2017. REUTERS/Chris HelgrenCompanies Citigroup Inc FollowNEW YORK, Sept 20 (Reuters) - Citigroup Inc introduced new diversity goals for gender, race and sexual orientation in its workforce for 2025, the bank said in a statement Tuesday. Citigroup became the first major Wall Street bank to appoint a woman, Jane Fraser, as its chief executive last year. Citigroup also expanded its worldwide hiring goals to include 3.5% of people who are lesbian, gay, bisexual, transgender and questioning in 2025 from the current 2.1%. And it further outlined aims for ethnic diversity in the U.K. and Brazil, and hiring college students from underrepresented communities.
AO „Pro Cooperare Regională” în parteneriat cu AO Centrul de Asistenţă Socio-Medicală la Domiciliu „CASMED” implementează proiectul „Angajarea cetățenilor și societății civile în procesul de luare a deciziilor și dezvoltare locală sustenabilă”, care are drept scop stimularea comunităților locale și a organizațiilor societății civile să participe și să contribuie la asigurarea transparenței în procesul de luare a deciziilor la nivel local. Elaborarea scenariului, coordonarea lui cu echipa de implementare a proiectului, producerea spot-urilor în limba română cu subtitrare în limba rusă, pregătirea spot-ului în format pentru TV și online. Elaborarea conținutului, realizarea fotografiilor în teren, coordonarea conținututlui cu echipa de implementare a proiectului, elaborarea designului. Candidații eligibili:Entitățile eligibile pentru a participa la acest concurs sunt companiile specializate în de conținut și a producțiiei video. 28, nr.2657);Criterii de selecție a ofertantului:Experiență în elaborarea spoturilor video;Experiență de a lucra în termeni de timp restrânși;Preţ competitiv, inclusiv cu respectarea raportului preţ-calitate.
Persons: Mircea cel Bătrân, Ofertanţii, Natalia Organizations: Uniunea Europeană, Agenția, Cooperare, Germaniei Locations: Republica Moldova, Regiunea, Republicii Moldova, 8.04.2010, Bălți
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