DIRS.INFO The most relevant business & tech news

☆ AI on the trading floor: Morgan Stanley expands OpenAI-powered chatbot tools to Wall Street division
▼ + stars: | 2024-10-23 | by ( Hugh Son | ) www.nbcnews.com time to read: +4 min

Morgan Stanley is expanding the use of OpenAI-powered, generative artificial intelligence tools to its vaunted investment banking and trading division, CNBC has learned. It’s most in-demand among salespeople and other client-facing staff who often field questions from hedge funds or other institutional investors, said Huberty. Productivity boostIn a recent demonstration, the GPT-4 based chatbot was able to summarize Morgan Stanley’s position on matters from copper to Nvidia to the finer points of standing up a data center, understanding industry-specific jargon and providing charts and links to source material. The tool is embedded within workers’ browsers as well as Microsoft Teams and Outlook programs to make it readily available. Understandably, Huberty says she is often asked if AI could ultimately replace the analysts who are creating the reams of research published under Morgan Stanley’s banner.

Persons: Morgan Stanley, Katy Huberty, Morgan, ” Huberty, Wall, Pierre Buhler, ” Buhler, ” It’s, Goldman Sachs, Huberty, that’s, “, chatbot, Morgan Stanley’s, ” Organizations: CNBC, JPMorgan Chase, SSA, Co, JPMorgan, Employees, Productivity, Nvidia, Microsoft Locations: San Francisco

☆ List of Morgan Stanley 2024 Managing Director Promotions
▼ + stars: | 2024-01-12 | by ( Alex Morrell | ) www.businessinsider.com time to read: 1 min

Morgan Stanley this week announced its latest group of managing directors. The Institutional Securities Group, which houses the firm's investment banking and trading operations, accounted for 44% of the class, or just under 70 people. This story is available exclusively to Business Insider subscribers. Morgan Stanley started communicating year-end comp to employees on Wednesday and is set to report earnings on Tuesday, January 16. Here are all the names of the 2024 MD class:

Persons: Morgan Stanley Organizations: Institutional Securities Group, Business

☆ Morgan Stanley gave a $20 million bonus to its incoming CEO, and to the 2 rival execs who missed out on the top job
▼ + stars: | 2023-10-30 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Morgan Stanley is giving $20 million bonuses to its incoming CEO and the two other candidates. Morgan Stanley said the awards would ensure "that each executive continues their outstanding leadership in their new roles. AdvertisementAdvertisementMorgan Stanley is giving $20 million bonuses to its incoming CEO and the two other executives who missed out on the top role. Morgan Stanley said in a filing Friday that its board's compensation, management-development, and succession committee had approved one-time equity-based awards to Pick, Saperstein, and Simkowitz. AdvertisementAdvertisementIn 2022, Pick, Saperstein, and Simkowitz each had a base salary of $1 million.

Persons: Morgan Stanley, Ted Pick, Dan Simkowitz, Andy Saperstein, —, James Gorman, Pick, Gorman, Ted Organizations: Service, Street, Institutional Securities Group, Company

☆ Five facts about Morgan Stanley's new CEO Ted Pick
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +1 min

People take photos by the Morgan Stanley building in Times Square in New York City, New York U.S., February 20, 2020. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsCompanies Morgan Stanley FollowNEW YORK, Oct 25 (Reuters) - Morgan Stanley (MS.N) chose Ted Pick to succeed its longtime leader James Gorman as CEO, effective Jan. 1. Here are five key facts about Pick, who was seen as the front runner before the announcement on Wednesday:1) Pick has been co-president of Morgan Stanley for the past two years. As head of the institutional securities group, he oversaw investment banking, equities, fixed income, capital markets and research. 4) After joining Morgan Stanley in 1990, Pick was promoted to managing director in 2002 and joined the management committee in 2008.

Persons: Morgan Stanley, Brendan McDermid, MS.N, Ted Pick, James Gorman, Pick, Nupur Anand, Lananh Nguyen, Sonali Paul Organizations: New York City , New York U.S, REUTERS, Phi Beta Kappa, Middlebury College, Harvard Business School, Metropolitan Museum of Art, Thomson Locations: New York City , New York, New York

☆ CNBC Daily Open: Shiny Meta
▼ + stars: | 2023-10-26 | by ( Clement Tan | ) www.cnbc.com time to read: +3 min

(Photo by Spencer Platt/Getty Images)This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. But in its third-quarter earnings report, Meta revealed its Reality Labs unit, which develops metaverse-related technologies, recorded a $3.74 billion operating loss. IBM beatsIBM shares rose 1% in extended trading after the technology conglomerate announced third-quarter results that exceeded Wall Street estimates. New Morgan Stanley CEOMorgan Stanley said Ted Pick will succeed James Gorman as CEO at the start of 2024.

Persons: Stocks, Spencer Platt, Rosy Meta Meta, Meta, Mattel, Max, New Morgan Stanley, Morgan Stanley, Ted Pick, James Gorman Organizations: NEW, New York Stock Exchange, Labor Department, Getty, CNBC, Treasury, Nasdaq, Dow Jones, Rosy Meta, Facebook, Labs, IBM, Wall, Boeing, New Locations: New York City

☆ Morgan Stanley's James Gorman wanted to pull off a rare feat: a bloodless succession. Wall Street thinks the bank may have done it, but it's too soon to tell.
▼ + stars: | 2023-10-26 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +6 min

The executive leadership team is viewed as a well-oiled machine with Morgan Stanley thriving compared to its megabank peers. Leaving Morgan Stanley would require going outside their comfort zone. Employees from these executives' righthand men and rank-and-file Morgan Stanley staffers may not welcome these changes. "You would expect everyone's guard to be raised at Morgan Stanley to monitor employee reaction and manage at least the best performers." Do you work for Morgan Stanley?

Persons: Morgan Stanley's James Gorman, Ted Pick, Dan Simkowitz, Andy Saperstein, Gorman, Glenn Shorr, Glenn Schorr, It's, Mike Mayo, they've, Mayo, Morgan Stanley, Pick's anointment, Pick, fides, Morgan, America's Ebrahim Poonawala, Poonwala, Stephen Biggar, Simkowitz, Saperstein, Let's, Schorr, Hayley Cuccinello Organizations: America's, Mitsubishi, Financial Times, Management Locations: Wells Fargo, Saperstein, Mayo, Simkowitz, hcuccinello@insider.com

☆ Morgan Stanley says Ted Pick will succeed James Gorman as CEO on Jan. 1
▼ + stars: | 2023-10-25 | by ( Hugh Son | ) www.cnbc.com time to read: +2 min

In this article MS Follow your favorite stocks CREATE FREE ACCOUNTJames Gorman, Morgan Stanley CEO, July 18, 2023. CNBCMorgan Stanley said Wednesday that Ted Pick will succeed James Gorman as CEO at the start of 2024. Pick led the bank's institutional securities group, which includes investment banking and trading activities, and was co-president of Morgan Stanley for the last two years. Pick, who graduated from Middlebury College and has a Harvard MBA, joined Morgan Stanley in 1990. He earned his reputation by whipping several businesses into shape during an uncertain time for Morgan Stanley.

Persons: James Gorman, Morgan Stanley, CNBC Morgan Stanley, Ted Pick, Gorman, Pick, Morgan Organizations: CNBC, New, Middlebury College, Harvard, Mitsubishi Locations: New York

☆ Morgan Stanley has named Ted Pick as its next CEO, putting an end to the race to succeed James Gorman at the top of a Wall Street giant
▼ + stars: | 2023-10-25 | by ( Hayley Cuccinello | Erin Snodgrass | ) www.businessinsider.com time to read: +4 min

Morgan Stanley's hard-charging trading boss Ted Pick is set to succeed CEO James Gorman. AdvertisementAdvertisementFive months after Morgan Stanley's James Gorman announced he was stepping down, the pick is in. AdvertisementAdvertisementPick is credited with transforming Morgan Stanley's key equities and fixed-income businesses. Morgan Stanley has declined to comment aside from stating earlier this year that the bank was cooperating with regulators. At a bank that prizes loyalty perhaps more than any other, a trader who "bleeds Morgan Stanley blue" may be a welcome choice.

Persons: Morgan Stanley's, Ted Pick, James Gorman, Gorman, Andy Saperstein, Dan Simkowitz, —, Morgan Stanley's James Gorman, Edward, Ted, Pick, Tom Glocer, Morgan, He's, Morgan Stanley, Simkowitz, Saperstein, John Mack, Mack Organizations: Service, Investment, Harvard, Disney, McKinsey, Staten

☆ This Morgan Stanley veteran is ready to be CEO — it just might be somewhere else
▼ + stars: | 2023-10-17 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +16 min

Morgan Stanley CEO James Gorman plans to retire by May 2024. "Cross-pollinating key leaders across our major businesses further knits the Morgan Stanley culture," Gorman wrote in a memo at the time. Morgan Stanley, which was the lead underwriter, had to step in to prop up the stock. In 2010, Morgan Stanley was picked as one of two lead underwriters — the other being JPMorgan — for the IPO of General Motors. With Morgan Stanley at the top of its game, breaking up this well-oiled team could be disastrous.

Persons: Morgan Stanley, James Gorman, Ted Pick, Andy Saperstein, Dan Simkowitz, He's, Simkowitz, Eaton Vance, Pick, Morgan, Getty, Dan, doesn't, Gorman, Morgan Stanley's, Saperstein, executive's protégé, Andy, Alex, Brown, Ted, she'd, Simkowitz's, Dean Witter Reynolds, Eaton, Calvert, Ruth Porat, Bob Scully, Fannie Mae, Freddie Mac, Will Dotson, Dan Akerson, TIMOTHY A, CLARY, Erik Gordon, Dodd, Frank, David Bieri, Gonzalo Marroquin, Patrick McMullan, Paul Taubman, Colm Kelleher, coheads, John Mack, Phil Purcell, Hayley Cuccinello Organizations: Disney, Harvard, McKinsey, Columbia Business School, Maccabiah Games, Team USA, Maccabi USA, Trenton Almgren, Davis, Lucent, Verizon, Mesa West Capital, JPMorgan, Calvert Research, Management, Facebook, Massachusetts Securities Division, Treasury, JPMorgan —, General Motors, Government Motors, General, New York Stock Exchange, Getty, University of Michigan's Ross School of Business, Citigroup, Virginia Tech, US Securities and Exchange Commission, United States Attorney's Office, Southern, of Locations: Bloomington , Indiana, Trenton, New York, Tokyo and Hong Kong, Boston, Washington, Switzerland, of New York, hcuccinello@insider.com

Morgan Stanley co-presidents Ted Pick and Andy Saperstein are widely viewed as the front-runners for the top job, with Pick seen as having a slight edge, the person said. A Morgan Stanley spokesperson declined to comment, as did Gorman, Pick, Saperstein and Simkowitz when contacted directly. SUCCESSION PLANNINGSince taking the helm, Australian-born Gorman, 64, has transformed Morgan Stanley through a series of major deals into a wealth management powerhouse that aims to manage $10 trillion in assets. Pick, 54, heads Morgan Stanley's institutional securities group, overseeing areas including investment banking, equities and fixed income. Saperstein, 56, is in charge of the wealth management unit that has bolstered Morgan Stanley's profits in recent years.

Persons: Morgan Stanley's, James Gorman's, Gorman, Morgan Stanley, Ted Pick, Andy Saperstein, Pick, Dan Simkowitz, Morgan, Merrill Lynch, You've, you've, Peter Orszag, Kenneth Jacobs, JPMorgan Chase, Jamie Dimon, Brian Moynihan, Lananh Nguyen, Paritosh Bansal, Megan Davies, Jamie Freed Organizations: YORK, U.S . Securities, Exchange Commission, U.S, Attorney's, Southern, of, McKinsey, White House, JPMorgan, Bank of America, Thomson Locations: London, New York, of New York, Australian

Morgan Stanley co-presidents Ted Pick and Andy Saperstein, and head of investment management Dan Simkowitz, are widely seen as contenders for the top job. Morgan Stanley shares were little changed in early trading, down 0.9%. The less volatile business of wealth management accounted for 45% of firm's revenue in the first quarter. Morgan Stanley's first-quarter profit beat expectations as rising revenue from wealth management offset declines in investment banking and trading. Simkowitz, the eldest of the three at 58, is head of investment management at Morgan Stanley and co-head of the firm's strategy and execution.

☆ Factbox: Morgan Stanley's three potential CEO candidates
▼ + stars: | 2023-05-19 | by ( ) www.reuters.com time to read: +2 min

May 19 (Reuters) - Morgan Stanley (MS.N) will likely appoint its next CEO in the next 12 months, its current Chief Executive James Gorman said on Friday. EDWARD (TED) PICK, 54Ted Pick is co-president and head of the institutional securities group at Morgan Stanley. In May, Morgan Stanley said it is looking to resolve an investigation by U.S. regulators. Pick joined Morgan Stanley in 1990 and was promoted to managing director in 2002. He began his career at Morgan Stanley in 1990 and has worked in New York, Tokyo and Hong Kong.

☆ Morgan Stanley CEO James Gorman plans to step down after years of making the bank the envy of Wall Street. Here's a look at his legacy.
▼ + stars: | 2023-05-19 | by ( Rebecca Ungarino | Alex Morrell | Dakin Campbell | ) www.businessinsider.com time to read: +11 min

Morgan Stanley CEO James Gorman said he will step down in the next 12 months. Morgan Stanley CEO James Gorman was giddy. Seeking stabilityTo understand where Morgan Stanley is now, you need to return to the peak of the financial crisis. It didn't take long before Morgan Stanley began utilizing its new license to acquire clients' deposits, reducing its reliance on wholesale funding. Mack, who helped design the 1997 Morgan Stanley and Dean Witter merger, had been pushed out by Purcell in 2001.

☆ Here are the 2 very different execs in contention to be CEO of Morgan Stanley
▼ + stars: | 2023-05-19 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +6 min

James Gorman announced that he will step down as Morgan Stanley CEO in the next year. The three executives in contention are co-presidents Ted Pick and Andy Saperstein, as well as Dan Simkowitz, head of investment management at Morgan Stanley. Morgan Stanley declined to comment. But the long-time Morgan Stanley executives have distinct leadership styles and backgrounds. Do you work for Morgan Stanley?

☆ Our conviction in Morgan Stanley remains solid, despite the CEO's planned departure
▼ + stars: | 2023-05-19 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +5 min

Jim on Friday matched Gorman's confidence in the future of Morgan Stanley, saying its stock looked very attractive at current levels. The day before Gorman took over as CEO, on Jan. 1, 2010, Morgan Stanley stock closed at $29.60 per share. Investors like steadiness, so they're willing to pay more for every dollar of wealth-and-asset-management revenue compared with investment banking and trading. Over time, this dynamic should allow Morgan Stanley to command a higher price-to-earnings ratio. James Gorman, chairman and chief executive officer of Morgan Stanley, speaks during a Bloomberg Television interview in Beijing, China, on Thursday, May 30, 2019.

☆ Morgan Stanley announced a new class of managing directors. Here are the names of the 184 new execs.
▼ + stars: | 2023-01-18 | by ( Alex Morrell | ) www.businessinsider.com time to read: 1 min

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:

☆ Morgan Stanley just promoted 184 employees to managing director, its highest rank
▼ + stars: | 2023-01-12 | by ( Alex Morrell | ) www.businessinsider.com time to read: +2 min

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.

Search resuls for: "Institutional Securities Group"

17 mentions found