DIRS.INFO The most relevant business & tech news

☆ 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 Gorman expects succession to occur within the next 12 months
▼ + stars: | 2023-05-19 | by ( ) www.reuters.com time to read: 1 min

NEW YORK, May 19 (Reuters) - Morgan Stanley (MS.N) CEO James Gorman told shareholders Friday that the company will likely appoint its next CEO in the next 12 months. Gorman, 64, said the board has identified three strong candidates to succeed him and that he will become executive chairman once a new CEO is chosen. Morgan Stanley co-presidents Ted Pick and Andy Saperstein, Chief Operating Officer Jonathan Pruzan, and head of investment management Dan Simkowitz are widely seen as contenders for the top job. Reporting by Tatiana Bautzer; Editing by Toby ChopraOur Standards: The Thomson Reuters Trust Principles.

☆ 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.

☆ 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?

☆ 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.

☆ Treasury Partners' Saperstein makes bearish case for the market, the fundamentals are deteriorating
▼ + stars: | 2023-05-16 | 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 EmailTreasury Partners' Saperstein makes bearish case for the market, the fundamentals are deterioratingRichard Saperstein, Treasury Partners chief investment officer, joins 'Closing Bell' to discuss conflicting signals in the market and his playbook in the market.

☆ BlackRock is wrestling with who could succeed Larry Fink. Here's who's now in the running.
▼ + stars: | 2023-05-12 | by ( Rebecca Ungarino | ) www.businessinsider.com time to read: +8 min

Investment giant BlackRock has been planning for CEO Larry Fink's succession for years. Leadership has discussed BlackRock cofounder Susan Wagner as someone who could succeed Fink if the board does not have a clear candidate. For years, BlackRock has been planning for Chief Executive Larry Fink's succession, a torch-passing the industry has long speculated over. BlackRock has become shorthand for the intense backlash from primarily Republican lawmakers over sustainable investment strategies that Fink has championed as CEO. Goldstein, 49, is a BlackRock lifer and has been chief operating officer for nearly a decade.

☆ Apple continues to quietly build on its fintech ambitions
▼ + stars: | 2023-04-18 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

In payments, specifically, its made progress via Apple Pay, the Apple Wallet, and the Apple Card. On Monday, Apple took another step deeper into financial services, announcing the launch of a high-yield savings account (4.15%) via its Apple Card. And now, as Goldman tries to salvage what's left of its consumer dreams, Apple continues to roll on. What's not clear, though, is what type of terms Goldman gets for serving as the back-end partner partner. Click here to read more about the top eight executives shaking up payments, including a key leader at Apple Pay.

That makes the business less than half the size of Bank of America Corp's (BAC.N) Merrill Wealth Management arm, the $18-billion behemoth Sieg ran until he left last month. Another challenge is that Citi has historically been undersized and a bit of a laggard in the space...especially in the wealth business where it’s all about existing relationships." In some ways, Citigroup is playing catchup after selling its old wealth business, Smith Barney, a decade ago to Morgan Stanley, which then leaned heavily into wealth management. That bet paid off - Morgan Stanley's wealth unit, led by Andy Saperstein, brought in record revenue last year. Two years ago, Citigroup unified its various wealth businesses into a single organization led by Jim O'Donnell that included its private bank and personal wealth division.

☆ Treasury yields climb to begin second quarter
▼ + stars: | 2023-04-03 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

ET, the yield on the benchmark 10-year Treasury note was up by around 4 basis points to 3.5318%, while the yield on the 30-year Treasury bond added just over 2 basis points to 3.7092%. The yield on the 2-year note rose by more than 7 basis points to 4.1351%. U.S. Treasury yields were higher on Monday morning as the bond market emerged from a wild first quarter. "Investors should follow the markets, not the Federal Reserve for clues on when the central bank's rate hikes will end," said Richard Saperstein, chief investment officer at New York-based Treasury Partners. Auctions will be held Monday for $57 billion of 13-week Treasury bills and $48 billion of 26-week bills.

☆ Watch CNBC's full midday market discussion with the 'Halftime Report' investment committee
▼ + stars: | 2023-03-16 | 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 EmailWatch CNBC's full midday market discussion with the 'Halftime Report' investment committeeJosh Brown, Steve Weiss, Brenda Vingiello, Jim Lebenthal and Richard Saperstein join the CNBC 'Halftime Report' to discuss trading the banking sector, the role of regional banks and portfolio exposure to tech.

☆ Regional banks play a very important role in this country, says Sand Hill Global's Brenda Vingiello
▼ + stars: | 2023-03-16 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRegional banks play a very important role in this country, says Sand Hill Global's Brenda VingielloJosh Brown, Steve Weiss, Brenda Vingiello, Jim Lebenthal and Richard Saperstein join the 'Halftime Report' to discuss trading the banking sector, the role of regional banks and portfolio exposure to tech.

☆ Markets will have a business cycle with lower EPS and weak stocks, says Treasury Partners' Richard Saperstein
▼ + stars: | 2023-02-13 | 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 EmailMarkets will have a business cycle with lower EPS and weak stocks, says Treasury Partners' Richard SapersteinRichard Saperstein of Treasury Partners joins 'Closing Bell: Overtime' to discuss his 2023 playbook.

☆ NY AG Letitia James presses MSG over use of facial recognition technology
▼ + stars: | 2023-01-25 | by ( Noah Sheidlower | ) www.cnbc.com time to read: +2 min

New York Attorney General Letitia James wants to hear from Madison Square Garden Entertainment Corporation about the company's reported use of facial recognition technology at its venues. MSG Entertainment owns and operates venues across New York including Radio City Music Hall, Madison Square Garden and the Hulu Theater. "MSG Entertainment cannot fight their legal battles in their own arenas," James said Wednesday in a release announcing her letter. "Anyone with a ticket to an event should not be concerned that they may be wrongfully denied entry based on their appearance, and we're urging MSG Entertainment to reverse this policy." MSG Entertainment did not immediately respond to a request for comment on the letter.

☆ Wall Street succession plans: The case for why all 6 big banks could consider a leadership change this year
▼ + stars: | 2023-01-20 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

Morgan Stanley CEO James Gorman confirmed what everyone already presumed: There are three executives in the running for his job. It turns out you could make the case for every top US bank making a change in leadership, either with or without the consent of their CEO. At 64 years old, he's the second-oldest CEO among the big six US banks. When discussing succession plans with Bloomberg on Thursday, Gorman acknowledged he doesn't want this job forever. And at 63 years old, he's not exactly a spring chicken.

☆ Bank earnings are under way. Here are the biggest storylines everyone on Wall Street is focused on.
▼ + stars: | 2023-01-13 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

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 COO Jon Pruzan to retire
▼ + stars: | 2023-01-09 | by ( ) www.reuters.com time to read: +1 min

Jan 9 (Reuters) - Morgan Stanley Chief Operating Officer Jon Pruzan will retire from the bank at the end of the month, according to a memo seen by Reuters. Formerly the finance chief at the Wall Street titan, Pruzan was made COO as part of a leadership shakeup in mid-2021, which resulted in four new appointments. At the time, the bank's chief executive, Jamie Gorman, said he was "highly confident" one of the four would be the bank's CEO in the future. Investors have long been speculating about who would succeed Gorman, who joined the bank in 2006 and took over as CEO in 2010. With Pruzan gone, the list of potential successors to Gorman include co-presidents Ted Pick and Andy Saperstein and investment management chief Dan Simkowitz.

☆ Watch the CNBC ‘Halftime Report’ investment committee weigh in on market sentiment heading into 2023
▼ + stars: | 2022-12-29 | 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 EmailWatch the CNBC ‘Halftime Report’ investment committee weigh in on market sentiment heading into 2023CNBC’s ‘Halftime Report’ investment committee, Shannon Saccocia, Richard Saperstein, Liz Young and Jim Lebenthal, discuss stocks rebounding and trying to push for a small year-end rally.

☆ Don't have short-term memory on the market because of small rebounds, warns SoFi's Liz Young
▼ + stars: | 2022-12-29 | 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 EmailDon't have short-term memory on the market because of small rebounds, warns SoFi's Liz YoungCNBC’s ‘Halftime Report’ investment committee, Shannon Saccocia, Richard Saperstein, Liz Young and Jim Lebenthal, discuss stocks rebounding and trying to push for a small year-end rally.

☆ Girl Scout mom kicked out of Radio City and barred from seeing Rockettes after facial recognition tech identified her
▼ + stars: | 2022-12-21 | by ( Julianne Mcshane | ) www.nbcnews.com time to read: +5 min

“I was just a mom taking my daughter to see a Christmas show,” she told NBC New York. It’s un-American to do this.”The Rockettes perform at Radio City Music Hall in New York in 2019. The spokesperson added that a sign outside Radio City Music Hall informs visitors that facial recognition technology is among the security measures it has in place. The company spokesperson called its policy “straightforward” and said attorneys at firms pursuing litigation against it are welcome at its venues once the litigation is resolved. New York court records show that there are more than 20 active lawsuits pending against MSG Entertainment and its properties in the state.

☆ Face Recognition Tech Gets Girl Scout Mom Booted From Rockettes Show — Due to Where She Works
▼ + stars: | 2022-12-20 | by ( Sarah Wallace | ) www.cnbc.com time to read: +4 min

The Radio City Rockettes perform onstage during the opening night of the 2019 Christmas Spectacular Starring The Radio City Rockettes at Radio City Music Hall on November 13, 2019 in New York City. Kelly Conlon and her daughter came to New York City the weekend after Thanksgiving as part of a Girl Scout field trip to Radio City Music Hall to see the Christmas Spectacular show. But while her daughter, other members of the Girl Scout troop and their mothers got to go enjoy the show, Conlon wasn't allowed to do so. They had identified and zeroed in on her, as security guards approached her right as he got into the lobby. "I was just a mom taking my daughter to see a Christmas show," Conlon told the I-Team.

☆ 5 charts show why now is a good time to invest in bonds while they look the most attractive relative to stocks in years
▼ + stars: | 2022-12-05 | by ( William Edwards | ) www.businessinsider.com time to read: +2 min

After years of offering low returns, bond yields are up as the Fed raises interest rates. Both UBS Asset Management and Bank of America have shared charts showing why bonds look attractive. Sign up for our newsletter to get the inside scoop on what traders are talking about — delivered daily to your inbox. If the economy slows meaningfully, inflation will likely cool, leading to falling interest rates and higher bond prices." Below are charts that Bank of America and UBS Asset Management shared to put bonds' current attractiveness into historical context.

☆ It's the bond market's time to shine
▼ + stars: | 2022-11-06 | by ( William Edwards | ) www.businessinsider.com time to read: +6 min

Bond yields are at their highest levels in years. The result has been nothing but pain for stock and bond prices since the start of the year. Another reason is because in a recessionary environment, bond prices typically rise as investors pile into safe-haven assets like Treasurys. "Bond investors are facing a unique win-win scenario right now," Saperstein said in an October memo. He continued: "If inflation and rates continue to rise, bond prices will decline but unrealized price losses can be meaningfully offset by locked-in 4-6% income returns.

☆ Housing is on the verge of a correction and Americans are feeling less and less upbeat about the economy
▼ + stars: | 2022-10-26 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

And no wonder — the economy is giving Americans less and less reason for optimism. The US housing market isn't just slowing down, it's in the early stages of a major correction. According to the latest consumer confidence report, Americans are feeling downbeat across the board. In Franco's words: "The Expectations Index is still lingering below a reading of 80 — a level associated with recession — suggesting recession risks appear to be rising." Here are the latest market moves.

Search resuls for: "Saperstein"

25 mentions found