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☆ Disney will name Bob Iger's replacement in early 2026; James Gorman to become board chair next year
▼ + stars: | 2024-10-21 | by ( Alex Sherman | In Alex-Sherman | ) www.cnbc.com time to read: +1 min

Disney has tapped James Gorman to replace Mark Parker as the company's next chairman, effective in January, as the media giant lays the groundwork to name a successor for CEO Bob Iger in early 2026, the company said Monday. Gorman joined Disney's board less than a year ago and was named the head of the succession planning committee in August. He will continue to lead that committee after he takes over as board chairman from Nike Executive Chairman Parker. "I'm extremely grateful to Mark Parker for his many years of board service and leadership, which have been so valuable to this company and its shareholders, and to me as CEO." Parker will step down after nine years on the Disney board "to focus on other areas" of his work, according to a Disney statement.

Persons: James Gorman, Mark Parker, Bob Iger, Gorman, Parker, James Gorman's, –, Iger, Elliott Hill, John Donahoe Organizations: Disney, Nike

☆ Morgan Stanley's new wealth boss Jed Finn shares his playbook from playing matchmaker with E-Trade clients to getting advisors to teach each other how to use AI
▼ + stars: | 2024-05-01 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +9 min

AdvertisementThe units are combining their outsourced investment services for ultra-high-net-worth wealth clients and institutional customers. The wealth management arm is there to help them pay less taxes on their windfall and manage their fortune. That said, Morgan Stanley has drawn the line in the past at some offerings like health savings accounts. AdvertisementFor Finn, those offerings are a means to an end: converting as many of these clients as possible to become fee-paying wealth management clients. The revenue and margins of the workplace channel and E-Trade, which Morgan Stanley acquired for $13 billion in 2020, are "irrelevant," he said.

Persons: —, Morgan, Jed Finn doesn't, Finn, Andy Saperstein, James Gorman's, Saperstein, Jacques Chappuis, Ben Huneke, Andy Saperstein's, Larry Lettera, Wagner, multibillion, Morgan Stanley, Finn isn't, We're, Jeff McMillan Organizations: Service, McKinsey, bank's, Business, Wall Street, Solium, OpenAI, AIMS

☆ Cramer's Lightning Round: Stick with Morgan Stanley
▼ + stars: | 2023-09-05 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Stock Chart Icon Stock chart icon Westrock Coffee's year-to-date stock performance. Stock Chart Icon Stock chart icon Twilio's year-to-date stock performance. Stock Chart Icon Stock chart icon JM Smucker's year-to-date stock performance. Stock Chart Icon Stock chart icon Alcoa's year-to-date stock performance. Stock Chart Icon Stock chart icon Morgan Stanley's year-to-date stock performance.

Persons: Westrock, JM Smucker's, JM Smucker, Morgan Stanley's, Morgan Stanley, I've, James Gorman's, Morgan, Chernow Organizations: Alcoa

☆ CNBC Daily Open: Investment banking sees signs of life
▼ + stars: | 2023-07-19 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

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. Banking on Bank of AmericaInvestors pushed Bank of America shares up 4.42% on the bank's earnings and revenue beat for the second quarter. Profit rose 19% to $7.41 billion while revenue increased 11% to $25.33 billion, helped by a 14% jump in net interest income. But fund managers are still cautious, according to the latest Bank of America Global Fund Manager Survey.

Persons: Ocado, Morgan Morgan Stanley's, James Gorman's, we've Organizations: CNBC, Dow Jones, Microsoft, Revenue, Bank of America Investors, Bank of America, Bank of America Global Fund, Survey

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

☆ Financial advisors have met their match in TikTok
▼ + stars: | 2023-06-14 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

The impact of artificial intelligence on Wall Street has plenty of people concerned, but some financial advisors fear a much more sinister opponent. Financial advisors are right to be concerned. A 2022 survey found Gen Z was more likely to seek out financial advice from TikTok (34%) and YouTube (33%) than a financial advisor (24%). Couple that with their often obsessive consumption of social media, and you start to see why financial advisors never had a fighting chance. More on why advisors are worried about young people turning to TikTok for help with their finances.

Persons: Dan DeFrancesco, we've, James Gorman's, Morgan Stanley, David Solomon, Goldman Sachs, Samantha Lee, Insider's Lindsay Dodgson, Z, they've, that's, Kelsey Wells, Kyle Davies, Su Zhu, Davies, Zhu, Brian, Lisa Sugar, David Solomon can't, Let's, Jeffrey Cane, Nathan Rennolds Organizations: Insider, YouTube, Arrows, Avid Capital Advisors, Wall, LinkedIn Locations: Dublin, Bali, Miami, South Beach, New York, San Francisco, Chicago, London

☆ JPMorgan investors to scrutinize First Republic takeover
▼ + stars: | 2023-05-19 | by ( Nupur Anand | ) www.reuters.com time to read: +4 min

Analysts will seek more details about the deal and JPMorgan's plans to integrate First Republic's business into the largest U.S. bank. FIRST REPUBLICJPMorgan has agreed to undertake $173 billion of the failed bank's loans, $30 billion of securities and $92 billion of deposits after First Republic was shuttered down by authorities. Dimon had said that he expects blowback from the FRC deal earlier this month in an interview on Bloomberg TV. loadingAn acquisition of this scale will raise question on integration, execution risks, employee retention among others, analysts believe. JPMorgan has made 19 acquisitions since 2020 but the last major purchase of this scale by the lender was in 2008 of Bear Stearns.

☆ Morgan Stanley CEO's pay rose 13% to $39.4 mln in 2022
▼ + stars: | 2023-04-06 | by ( ) www.reuters.com time to read: 1 min

April 6 (Reuters) - Morgan Stanley (MS.N) said on Thursday that Chief Executive Officer James Gorman's annual pay was $39.4 million in 2022, nearly 13% higher than a year earlier. Reporting by Mehnaz Yasmin in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

☆ Here’s our Annual Meeting update on the 7 health care and bank stocks in the Club portfolio
▼ + stars: | 2023-03-01 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +7 min

Here's an update on the health care and financial holdings in Jim Cramer's Charitable Trust, the portfolio we use at the CNBC Investing Club. At levels below $250 per share, Jim said Danaher is one of the most attractive stocks in the Club's portfolio. Its consumer-products unit will become a company known as Kenvue, while its faster-growing pharmaceutical and medical devices divisions will retain the J & J name. However, there is some litigation risk with J & J after a federal judge in January rejected its strategy concerning more than 38,000 talc lawsuits. Against that backdrop, we view J & J as a quality defensive name to own, especially given its annual dividend yield of around 3%.

☆ Citigroup lifts CEO Fraser's 2022 pay to $24.5 mln
▼ + stars: | 2023-02-22 | by ( ) www.reuters.com time to read: +1 min

Feb 21 (Reuters) - Citigroup (C.N) increased Chief Executive Officer Jane Fraser's compensation by nearly 9% to $24.5 million for 2022, the lender said in a filing on Tuesday. Fraser's total pay in 2021 was $22.5 million. She took over as the first female chief executive of a major Wall Street bank in February 2021. Her pay is still below the $34.5 million of JPMorgan & Chase Co's JPM.N CEO Jamie Dimon, and Morgan Stanley (MS.N) CEO James Gorman's $31.5 million. Citigroup reported a 21% fall in fourth-quarter profit last month, missing forecasts, as the bank increased provisions to prepare for a worsening economy and as investment banking revenue declined due to a sharp drop in dealmaking activity.

☆ James Gorman's strategy is to get a higher multiple, says CFRA's Ken Leon
▼ + stars: | 2023-01-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJames Gorman's strategy is to get a higher multiple, says CFRA's Ken LeonKen Leon from CFRA joins 'Closing Bell' to discuss today's market action and the impact of Goldman and Morgan Stanley earnings on today's trading.

☆ Here's our November rapid-fire update on all 33 stocks in Cramer's Charitable trust portfolio
▼ + stars: | 2022-12-15 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +9 min

Here's a rapid-fire update on every stock in the CNBC Investing Club portfolio. Estee Lauder (EL) — New Club members who want to start a position in the cosmetics giant could do so at these levels. We'd advise Club members do so the same, even if we still like the company's defensive nature. (See here for a full list of the stocks in Jim Cramer's Charitable Trust.) Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

☆ Here are the 10 stocks we consider our core holdings in the Club portfolio — and why
▼ + stars: | 2022-11-17 | by ( Jeff Marks | ) www.cnbc.com time to read: +12 min

At the Investing Club, we generally try to keep our portfolio to around 30 stocks, give or take a few. In light of Thursday's "Monthly Meeting," we wanted to identify what we consider our 10 core holdings of the 32. We may consider a stock a core holding today but that could change three months from now. Management sees its post-separation core business growing revenues at a high single-digit clip and earnings-per-share increasing in the double digits. The stock provides a stellar dividend yield of nearly 3.5%, and the bank has plenty of excess capital to repurchase stock quarter after quarter, while other banks have paused their buybacks.

☆ Morgan Stanley is set to report third-quarter earnings —here’s what the Street expects
▼ + stars: | 2022-10-14 | by ( Hugh Son | ) www.cnbc.com time to read: +2 min

Morgan Stanley CEO James Gorman participates in a conversation-style interview with Economic Club of Washington in Washington September 18, 2013. Morgan Stanley is set to report third-quarter earnings before the opening bell on Friday. That's the question for Morgan Stanley, whose investment banking, trading and wealth management operations are all impacted by the vagaries of the market. While analysts expect the bank's wealth management and investment management divisions – responsible for half of the firm's revenue – will hold up better than investment banking, lower asset values will reduce revenue there as well. Wells Fargo and Citigroup are also scheduled to report results Friday, followed by Bank of America on Monday and Goldman Sachs on Tuesday.

☆ These 9 stocks are less impacted by the strong U.S. dollar and are well-liked on the Street
▼ + stars: | 2022-09-26 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +8 min

It's been a steady worry on Wall Street in recent months that shows no signs of abating. At least 50% of analysts rate the stock a buy, a sign Wall Street holds a generally favorable outlook on their prospects in the near-to-medium term. We found nine companies Monday that met the parameters, including the aforementioned Costco and some companies in defensive industries. Wells Fargo Percent of U.S. revenue: 100% Percent of analysts with a buy rating: 53.6% Recession fears have weighed on bank stocks all year. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Here’s our September rapid-fire update on all 33 stocks in Cramer’s Charitable Trust portfolio
▼ + stars: | 2022-09-15 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +11 min

Here's a rapid-fire update on every stock in the CNBC Investing Club portfolio. Halliburton (HAL) — The only energy stock in the portfolio that we haven't trimmed in recent weeks. (See here for a full list of the stocks Jim Cramer's Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

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