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“#Bank CEOs tell investors trading boom could turn into a bust” After a year of eye-popping earnings, bank CEOs are warning shareholders that all good things must come to an end. Over the past year, banks have posted record earnings as the Federal Reserve poured hundreds of billions into the bond market, the SPAC craze…
“# Digital euro could drain 8% of bank deposits, Morgan Stanley says ” Analysts at thAmerican multinational investment bank Morgan Stanley have estimated the likely changes in eurozone banks’ deposits should a digital euro be widely adopted. According to the analysts, a European Union central bank digital currency (CBDC) could suck up 8% of customer…
“#Morgan Stanley chief expects bankers back in NYC offices” Morgan Stanley’s chief executive said he expects all New York City employees to be back at their desks by Labor Day — or they will face salary cuts. “I’ll be very disappointed if people haven’t found their way into the office and then we’ll have a…
“#Morgan Stanley boss James Gorman anoints possible successors” Morgan Stanley chief executive James Gorman named longtime deputies Ted Pick and Andy Saperstein as co-presidents — setting up a race to succeed him at the helm of the Wall Street giant. Pick, 52, will continue to lead institutional securities but will also be promoted to oversee…
“#Bitcoin, cryptocurrencies rebound after brutal week of losses” Bitcoin and other cryptocurrencies rose Monday morning, recovering some losses after a brutal week that saw the digital currency market lose hundreds of billions of dollars. Bitcoin was up more than 8 percent Monday at $53,720, according to Coinbase data. That restores Bitcoin’s market cap to about…
“#Morgan Stanley reveals nearly $1B loss from Archegos implosion” Morgan Stanley lost nearly $1 billion from the collapse of family office Archegos Capital Management, the bank said Friday, muddying its 150 percent jump in first-quarter profit that was powered by a boom in trading and deal-making. Morgan Stanley was one of several banks that had exposure to Archegos, which…
“#Morgan Stanley dumped $5 billion in Archegos’ stocks: report” Morgan Stanley sold about $5 billion in Archegos Capital Management’s stocks the night before the fire sale hit rivals, CNBC reported on Tuesday citing people with knowledge of the trades. Morgan Stanley had the consent of Archegos, run by former Tiger Management analyst Bill Hwang, to…
“# Morgan Stanley adds Bitcoin exposure to 12 investment funds ” United States investment bank Morgan Stanley has updated the prospectus of several institutional funds to reflect potential exposure to Bitcoin (BTC) through Grayscale and cash-settled futures, highlighting once again the rapid uptake of digital assets by major investment firms. In a March 31 filing…
“# South Korean internet giant Naver reportedly joins Bithumb stake race ” Major South Korean internet company Naver has reportedly begun negotiations to acquire a stake in the country’s largest cryptocurrency exchange, Bithumb. Naver has discussed a potential equity stake acquisition with major Bithumb stakeholder Vidente, local publication the Maeil Business Newspaper reported Monday, citing several…
“#Forget griping staffers, investors love David Solomon” David Solomon would never win a popularity contest inside Goldman Sachs. Low-level employees grouse that the chief executive makes them work around the clock through the pandemic to keep up with deal flow. White-shoe investment bankers complain that they get blasted when they miss out on business. He…