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 chief to step asideSeptember 10th, 2009 NEW YORK - Morgan Stanley investment bank chief John Mack will step aside at the end of the year, the company announced late Thursday in New York. The 64-year-old will be succeeded by James Gorman, 51, who is currently co-president of the firm.
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.
Morgan Stanley to buy Shanghai complex from Chinese developer for $358.5MAugust 18th, 2009 Morgan Stanley to buy Shanghai complex for $358.5MNEW YORK — Chinese developer SOHO China Ltd. has agreed to buy a multistory office and retail complex in Shanghai, The Exchange, from Morgan Stanley's real estate fund for about $358.5 million.
Morgan Stanley buys back warrants tied to TARP from Treasury Department for $950 millionAugust 6th, 2009 Morgan Stanley repurchases TARP warrantsNEW YORK — Morgan Stanley said Thursday it paid $950 million to buy back warrants from the government that could have eventually been converted to common shares in the bank. New York-based Morgan Stanley issued the warrants to the Treasury Department as part of the loan package it received under the Troubled Asset Relief Program.
Morgan Stanley paying $500,000 to settle SEC charges of misleading clients in NashvilleJuly 20th, 2009 Morgan Stanley paying $500K in settlement with SECWASHINGTON — Morgan Stanley on Monday agreed to pay a $500,000 penalty to settle federal regulators' charges that it misled customers in its Nashville office about the money management firms it recommended and from which it received commissions. The Securities and Exchange Commission announced the agreement with the big Wall Street brokerage firm, which did not admit or deny wrongdoing but did agree to refrain from future violations of the securities laws.
Morgan Stanley names Carlyle Group executive to be 13th member of its boardJune 22nd, 2009 Morgan Stanley names Carlyle executive to boardNEW YORK — Morgan Stanley said Monday it has named Carlyle Group executive James Hance Jr. to its board, effective July 1.
Person familiar with situation says Morgan Stanley to repay bailout money WednesdayJune 17th, 2009 AP Source: Morgan Stanley to repay TARP WednesdayNEW YORK — Morgan Stanley is expected to repay its government bailout money on Wednesday, according to a person familiar with the talks between the bank and the government. The investment bank will return all of the $10 billion in loans it received last fall during the height of the credit crisis, said the person, who spoke on condition of anonymity because he is not authorized to speak publicly about the bank's plans.
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.
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.
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.
Billion dollar loss expected at Morgan StanleyApril 9th, 2009 NEW YORK - Global financial services firm Morgan Stanley is expected to be hit by its second quarterly loss in a row, the Wall Street Journal reported Thursday. The accounting for a rebound in bond prices is said to be behind a writedown of up to $1.7 billion.
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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