On Wednesday, Morgan Stanley promoted Colm Kelleher, its investment banking chief to the post of president. Now, Kelleher is the heir apparent to the present CEO James Gorman. The company also said that Greg Fleming, the current head of wealth management will leave the company.
Sources familiar with the matter said on Monday, that Morgan Stanley is involved in discussions with the office of attorney general of New York in order to settle accusations which say that prime bank mismanaged subprime mortgage deals prior to the financial crisis of 2008.
Morgan Stanley says the investors do not have to pay different prices in Hong Kong and Shanghai for the same stocks for a very long time now.
Today in a television interview, Jonathan Garner, the head of Asia and emerging-market strategy at Morgan Stanley, said in Hong Kong that the gaps existing between valuation for dual-listed shares will soon disappear as an exchange link between the two cities will lead to the formation of a 'one-China' market.
Morgan Stanley's Ms. Katy Huberty is putting in her best efforts to earn her set target for Apple (AAPL) i. e. $960 (her published 12-month price target), which she set and announced on January 25.
Sources have confirmed that she is earning new and better records every day. Ms. Huberty unfortunately got stuck at $515 but her Tuesday closing read at $568.10.
According to reports, markets are now in meltdown status, due to fears regarding the possibility of a new global recession, as Financial giant, Morgan Stanley cautioned against the growing chance of a global recession on Thursday night, amidst reports that the United States Federal Reserve is intensely examining the health of the European branches of its top banks.