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Great news for Club stocks Wells Fargo and Morgan Stanley : The rebound in investment banking isn't over yet. We'll find out to what extent when Wells Fargo reports earnings on Oct. 11 and Morgan Stanley delivers quarterly results on Oct. 16. MS YTD mountain Morgan Stanley (MS) year-to-date performance For Morgan Stanley, a resurgence in its investment banking division is crucial to our investment thesis and why we stuck with it. WFC YTD mountain Wells Fargo (WFC) year-to-date Morgan Stanley's IB business is much larger than Wells Fargo's. Wells Fargo, which has a strong wealth management franchise, is branching out to take a slice of the IB pie.
Persons: Morgan Stanley, We'll, Wells, Jerome Powell, Powell, Rebecca Brokmeier, Brokmeier, Morgan, Jim Cramer, Goldman Sachs, underperformance, Dan Simkowitz, Jim, We've, Charlie Scharf, Jim Cramer's, William McChesney Martin Jr, Anna Moneymaker Organizations: Club, Wells, Federal Reserve, Wall, P Global Market Intelligence, KPMG, Global, Fed, National Association for Business, CNBC, Morgan Stanley's IB, IB, Bloomberg News, Federal, Getty Locations: U.S, Nashville , Tennessee, Wells, Wells Fargo, Washington , DC
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
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 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
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?
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