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.
Mack, Gorman and Chammah: Thumbnails of the key figures in the Morgan Stanley CEO successionSeptember 10th, 2009 Key players in Morgan Stanley's CEO successionInvestment bank Morgan Stanley announced a succession plan Thursday for its CEO, John Mack, that will occur at the end of the year. Here are short sketches of Mack, his successor James Gorman, and Walid Chammah, who will become the chairman of the bank's overseas operations, based in London.
Morgan Stanley's president of Middle East and North Africa ops, Georges Makhoul, leaving bankSeptember 9th, 2009 Morgan Stanley's Makhoul is leaving firmNEW YORK — Morgan Stanley said Wednesday its president of Middle East and North Africa operations, Georges Makhoul, is leaving the bank. Habib Achkar will take on the role of regional manager for the New York-based bank's Middle East and North Africa operations.
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 decline modestly in early trading on mixed earnings; investors grow cautiousJuly 28th, 2009 Stocks fall modestly in early tradingNEW YORK — Stocks are falling modestly in early trading despite a better-than-expected report on retail sales. The U.S. market has risen sharply throughout the spring and summer on hopes of a recovery.
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 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.
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.
Japan's biggest bank to swap $600 mln of Morgan Stanley preferred shares for common stockMay 11th, 2009 Mitsubishi swapping $600 mln Morgan Stanley sharesTOKYO — Japan's biggest bank, Mitsubishi UFJ Financial Group Inc., said Monday it will swap $600 million of its preferred shares in Morgan Stanley for common stock to keep its voting rights stake of the U.S. bank above 20 percent.
Brazilian stocks fall in early trading as investors lock in gains from weekslong advanceMay 9th, 2009 Brazilian stocks fall in early tradingMEXICO CITY — Brazilian stocks are falling as investors lock in gains from weeks of large advances. Sao Paulo's Ibovespa index is down 2.3 percent to 50,315 after the first hour of trading on Thursday.
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.
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.
Stocks fluctuate in morning trading as Morgan Stanley results fall short of expectationsApril 22nd, 2009 Mixed earnings reports weigh Wall StreetNEW YORK — Investors unnerved by mixed news from corporate earnings reports sent stocks mostly lower in early trading Wednesday. The overall market fluctuated and bank stocks fell after Morgan Stanley reported a wider-than-expected loss for the first quarter and reduced its dividend.
Treasurys fall, pressured by early gains on Wall Street; losses hold even as stocks sell offApril 22nd, 2009 Treasurys dip even as stocks sell off late in dayNEW YORK — Treasurys dipped Wednesday, even as stocks fell in a late-day slump on renewed worries about problems at banks. The stock market had been rising for most of the day, buoyed by encouraging earnings reports from AT&T, Boeing and McDonald's.
European, US stock markets slide as Morgan Stanley results fall short of expectationsApril 22nd, 2009 European, US stocks fall on Morgan Stanley resultsLONDON — European and U.S. stock markets dropped Wednesday after investment bank Morgan Stanley reported a wider-than-expected loss for the first quarter and reduced its dividend.
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