Pandit says Citigroup plans to exit Smith Barney venture with Morgan Stanley, repay TARPSeptember 16th, 2009 Citi plans to sell remaining Smith Barney stakeNEW YORK — Citigroup Inc. CEO Vikram Pandit confirmed Wednesday that the bank plans to eventually sell the remaining stake in its Smith Barney brokerage venture to Morgan Stanley, which owns the other half.
Mack to step down as Morgan Stanley CEO in Jan., will remain chairman; Gorman to take helmSeptember 10th, 2009 John Mack to step down as Morgan Stanley CEONEW YORK — John J. Mack will step down as CEO of Morgan Stanley in January but will continue as chairman, the investment bank announced Thursday.
Morgan Stanley to hire as many as 400 in trading and sales jobs this yearAugust 20th, 2009 Morgan Stanley hiring up to 400 in sales, tradingNEW YORK — Morgan Stanley is adding hundreds of jobs in trading and sales in hopes of ramping up profit in its emerging markets, foreign exchange, equity derivatives and prime brokerage businesses. The company will add as many as 400 professionals in trading and sales this year, said an anonymous person familiar with the hiring, who did not wish to be identified because the job additions were not formally announced.
Stocks trade mixed after weeklong stretch of gains; Advanced Micro, Wells Fargo disappointJuly 22nd, 2009 Stocks zigzag as companies post mixed resultsNEW YORK — Investors are taking a wary view of the latest batch of corporate earnings reports following a weeklong winning streak. Stocks traded mixed early Wednesday following a batch of uneven corporate results.
Morgan Stanley, Mitsubishi UFJ to form 50-50 corporate financing joint ventureJuly 1st, 2009 Morgan Stanley, Mitsubishi UFJ to form finance JVTOKYO — Mitsubishi UFJ, Japan's largest bank, and Morgan Stanley said Wednesday they will form a joint venture to pursue corporate financing business in the U.S., Canada and Latin America. Mitsubishi UFJ is eager to expand its reach overseas and took a major step late last year, when it paid $9 billion for a 21 percent stake in Morgan Stanley.
10 large US banks to repay government $68 billion in bailout funds, industry officials sayJune 17th, 2009 10 large US banks to repay $68B in TARP fundsWASHINGTON — Ten large U.S. banks are planning to repay the government about $68 billion in bailout money Wednesday, a pair of industry officials say.
Goldman Sachs set to repay $10 billion it received as part of government's investment programJune 17th, 2009 Goldman Sachs to repay $10B in government fundsNEW YORK — Goldman Sachs says it is ready to repay a $10 billion government investment on Wednesday. The bank made the disclosure in letters to high-ranking congressmen and senators on Tuesday.
Morgan Stanley pays back Treasury $10 billion in bailout fundsJune 17th, 2009 Morgan Stanley pays back $10B in bailout fundsNEW YORK — Morgan Stanley said Wednesday it repaid the $10 billion it received last fall as part of the government's $700 billion bank investment program. Morgan Stanley received the money as part of the Treasury Department's Troubled Asset Relief Program to help revive the stagnant credit and lending markets amid one of the worst periods of the credit crisis.
List of 10 banks that got Treasury approval to pay back their bailout moneyJune 9th, 2009 List of 10 banks that will repay bailout moneyThe Treasury has given 10 banks permission pay back a total of $68 billion in government bailout money. The banks include the eight recipients of bailout money that passed regulators' stress test last month, plus the investment bank Morgan Stanley and Chicago-based custody bank Northern Trust Corp.
Morgan Stanley, JPMorgan and American Express sell stock with eye toward repaying TARP fundsJune 2nd, 2009 Three banks take steps toward repaying governmentNEW YORK — Morgan Stanley, JPMorgan Chase & Co. and American Express Co.
Morgan Stanley plans $2.2 billion stock offer as precursor to repaying government loanJune 2nd, 2009 Morgan Stanley to raise $2.2 billion in capitalNEW YORK — Morgan Stanley said Tuesday it will raise $2.2 billion through a stock offering as part of a plan to satisfy preconditions for repaying a government loan it received last fall amid the deepening credit crisis. Morgan Stanley priced the offering at $27.44 per share, an 8.2 percent discount from Monday's closing price of $29.89.
Morgan Stanley seeks to raise $5 billion in fresh capital after government stress testsMay 8th, 2009 Morgan Stanley plans $5 billion capital raiseNEW YORK — Morgan Stanley is planning to raise $5 billion after government's stress tests showed the investment bank needs more capital. Morgan Stanley said Thursday it has begun a $2 billion public offering of common stock.
Morgan Stanley to sell $3.5 billion in stock, $4 billion in notes after 'stress tests'May 8th, 2009 Morgan Stanley offers $3.5 billion in stockNEW YORK — Morgan Stanley is offering 146 million common shares for $24 each in an effort to raise gross proceeds of $3.5 billion. The company is also pricing an offering of $4 billion in bonds.
Pandit, other top US bankers to defend use of bailout fundsFebruary 10th, 2009 WASHINGTON - Vikram Pandit, Indian American chief executive of CitiBank, and the heads of seven other major American banks will defend the use of hundreds of billions of dollars in bailout money to lawmakers on Capitol Hill Wednesday. 'American people are right to expect that we use funds responsibly, quickly and transparently to help American families, businesses and communities,' Pandit is expected to say before the House Financial Services committee, according to prepared remarks.
Citigroup exploring brokerage unit's merger with Morgan StanleyJanuary 12th, 2009 NEW YORK - Citigroup is in talks to merge its brokerage unit, Smith Barney, with rival Morgan Stanley, the US bank said in New York Tuesday. No agreement has been reached, Citigroup said in a statement.
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