Morgan Stanley

Firms bolder about M&A as number of big deals rises

Facebook's US$19.4 billion purchase of messaging firm WhatsApp was among the biggest deals in the first quarter. Photo: Bloomberg

A string of large transactions drove the value of global mergers and acquisitions (M&A) activity up by 54 per cent in the first quarter compared with the same period last year, reflecting greater deal-making confidence among chief executives.

Saturday, 29 March, 2014, 12:39am

Pick me (and only me), Alibaba and told banks has hired two banks to handle its initial public offering. Photo: Reuters

Top investment banks have been forced to choose between two important clients - bitter rivals Alibaba and the mainland's largest e-commerce firms.

Both companies are planning to list in New York.

21 Apr 2015 - 11:26am 2 comments

US banks' third-quarter profit seen mixed

Morgan Stanley probably generated more revenue than Goldman Sachs for the first time in two years.

Morgan Stanley, Bank of America and Wells Fargo are poised to report a jump in earnings that may surprise some investors fixated on a slump in trading and mortgage lending.

9 Oct 2013 - 4:47am

Huarong split over investor plan ahead of Hong Kong IPO

Lai Xiaomin, chairman of China Huarong Asset Management (left). Morgan Stanley and Goldman Sachs are in advanced talks to take a stake in Huarong.

Huarong, the biggest of the four funds the central government set up to remove an estimated 1.4 trillion yuan (HK$1.76 trillion) of bad loans from the top four state banks as they prepared for initial public offerings, has reportedly been looking to raise up to US$2 billion by selling a stake of 15 to 20 per cent.

24 Jul 2013 - 7:46am

Morgan Stanley quarterly profit jumps on stock trading

Morgan Stanley boss James Gorman has been trying to turn around the bank around since taking the top job in 2010. Photo: AP

Morgan Stanley posted a 42 per cent increase in quarterly profit on Thursday as stock trading revenue soared, and the bank announced its first buyback plan since the financial crisis, in the latest signs that the No. 2 US investment bank is regaining its footing.

19 Jul 2013 - 2:43pm

EU charges banks with blocking exchanges from derivatives market

The European Commission’s latest move against 13 top investment banks could result in heavy fines. Photo: AFP

EU watchdogs have charged 13 top investment banks with blocking exchanges’ access to the lucrative credit derivatives market, hitting the sector with the latest in a growing list of regulatory headaches.

2 Jul 2013 - 1:01pm

Morgan Stanley moves event to US

The headquarters of Morgan Stanley in New York. Photo: Reuters

Morgan Stanley will hold a gathering in New York to promote Asian hedge funds to investors after pulling its capital introductions event in China because of the bird flu, said three people with knowledge of the matter.

29 May 2013 - 2:51am

Morgan Stanley pays US$1.2b for Russian mall in largest retail purchase

A fund managed by Morgan Stanley acquired Metropolis Shopping and Entertainment Mall from Capital Partners, the Kazakh developer that opened the property in 2009, the bank said.

27 Feb 2013 - 5:04am

Business Digest, January 19, 2013

The US Mint has sold out of American Eagle silver coins.

Earnings at China's state-owned firms rose 22.4 per cent from November, accelerating from November's increase of 5.7 per cent, but the pick-up was not enough to offset weakness for the year, when combined profits slipped 5.8 per cent compared to 2011, official data showed.

19 Jan 2013 - 5:12am

Business Digest, January 16, 2013

Container volume falls for first time in 3 years

Morgan Stanley job cuts in Asia to hit 15pc

Morgan Stanley plans to trim about 15 per cent of its investment banking positions in Asia, higher than the global average of 6 per cent, as it starts a round of job cuts this week, two people with knowledge of the matter sais. They said Asian managing directors Saul Raccah and Leon Guo were among those who would leave. Bloomberg

16 Jan 2013 - 3:41am

BAIC Motor shortlists advisers for stock listing

State-owned Beijing Automotive Industry has shortlisted Goldman Sachs and Morgan Stanley for a US$1 billion initial public offering in Hong Kong that may come as early as next year.

11 Jan 2013 - 3:56am

Business Digest, January 10, 2013

Clean-air rules affect all coal power plants

Morgan Stanley, the sixth-largest US bank by assets, plans to eliminate about 1,600 jobs from its investment bank and support staff in coming weeks, a person familiar with the matter said. About half the reductions will be in the US and the rest will affect international employees, the person said. All levels of employees will be affected.

10 Jan 2013 - 4:21am

Morgan Stanley bosses raise HK$2.5m for Operation Santa Claus

Children, many of them cancer patients, join the Morgan Stanley Directors' Choir singing at Elements mall. The effort raised one of the biggest single donations. Photo: May Tse

Some of the biggest wheels in Hong Kong's financial world dropped the business talk to join voices with some of the city's youngest cancer patients and sing of the joys of Christmas.

18 Dec 2012 - 3:50am

Morgan Stanley lays off private bankers

Morgan Stanley bankers laid off

Morgan Stanley this week laid off several private bankers, including one vice-president and some associates and analysts.

The bank joins several of its peers in Hong Kong that have been firing private bankers, in a year marked by weak markets, dwindling client appetite for investment and trading, and intense competition.

8 Nov 2012 - 4:36pm

Pandit quits as Citigroup's chief

Vikram Pandit says it is time for someone else to lead Citigroup.

Citigroup chief executive Vikram Pandit resigned abruptly yesterday, effective immediately, a shock change at the top of the No 3 US bank the day after a surprisingly strong quarterly earnings report.

Analysts and investors quickly raised red flags about the timing, saying it did not appear to be a natural transition and rather suggested some sort of dispute at the bank.

17 Oct 2012 - 3:26am