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James Gorman took the bank from underdog to the top of Wall Street. The new chief must decide what comes next
Head of investment banking and trading was one of 3 internal candidates
Falling revenues in division compounded by slower growth in wealth management
Gorman points to earnings cycle turning sharply upward just in time for successor to notch early wins
Analysts predict the net interest income driving Wall St profits took a hit in the third quarter
The manager is seeking the change for two fixed income mutual funds with a combined $740mn in assets
As voluntary offsets lose favour, the ‘insetting’ approach has quietly gained steam
Sports Direct owner seeks testimony from James Gorman as it gears up for High Court battle with investment bank
South Asian powerhouse has become a target for expansion as business dries up in China
The failure and folly behind a $10bn bribe to not go to the shops
Goldman Sachs, Morgan Stanley, JPMorgan and UBS resolve long-running antitrust allegations from pension funds
UK energy regulator says US bank failed to keep records of traders’ discussion of energy deals on personal phones
Howling at the moonshots
There are three good reasons for carefully de-risking the global economy
Old money, old problems
US bank’s wealth management business fails to offset industry-wide slump
Working group votes on whether to exclude portion of underwriting deals from net zero targets, but critics see ‘double standards’
Bank bosses predict activity will recover after fallow period prompted big job cuts
Morgan Stanley moves to sever relationship with hedge fund manager following FT investigation
Veteran dealmaker had advised on major deals during his 17-year tenure at Wall Street investment bank
Gird yourselves
Longtime chief executive seeks to buck ‘horrific’ Wall Street record for handing over top jobs
Plus, Swedish games group Embracer gets burnt by a failed partnership and Alphaville goes behind the scenes of a Caribbean website’s Credit Suisse scoop
CMA’s initial finding shows traders exchanged sensitive information on pricing and strategies
The war in Ukraine has put a spotlight on tech-led defence companies
International Edition