Word: morgans
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Dates: during 2010-2019
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...typical for executives to leave their firm after it has been acquired. But Bank of America's acquisition of Merrill Lynch has turned out to be a recruiting bonanza for other Wall Street firms. In December, Morgan Stanley hired former Merrill president Gregory Fleming to head the firm's investment-management division. Another top former Merrill executive, Bob McCann, was picked to run the wealth-management division of Swiss bank UBS, which has more than 8,000 brokers. (See the best business deals...
...graduate of the Parkinson's workshop, Linda Morgan, a pharmacist in Asheville, N.C., who has participated in 10 research trials since her 2005 diagnosis, spends a lot of time not only figuring out which trials to enroll in but also urging fellow patients to become part of formal studies. Parkinson's clinical trials historically have had low participation levels, which delays the approval of new therapies. Morgan says she credits the workshop with making her feel as if she's "on the cutting edge," adding, "I like to know as much...
...Treasury Secretary Timothy Geithner--head of the New York Fed when the e-mails were sent--was called to testify Jan. 27 on Capitol Hill, along with his Treasury predecessor Henry Paulson. At issue: the use of taxpayer money to cover AIG's debts to Goldman Sachs, Morgan Stanley and other Wall Street firms. Both men defended the "backdoor bailout" and denied any involvement in the alleged attempt to hide the details of payments...
...Lehman wasn't alone. Merrill Lynch lost nearly $20 billion on investments in collateralized debt obligations (CDOs). Morgan Stanley had a nearly $4 billion loss in proprietary trading in the fourth quarter of 2007. Goldman Sachs spent $3 billion to bail out one of its hedge funds. And Citigroup has poured more than $3 billion into fixing its problems with structured investment vehicles, investments the bank set up with its own capital. Like Merrill, Citi lost big - as much as $15 billion, on the CDOs it decided to hold rather than sell off. In fact, nearly every large financial firm...
...number of financial firms, including Citigroup, JPMorgan and Morgan Stanley, say they have already exited proprietary trading, or at least limited their activities in that area dramatically. Goldman Sachs says proprietary trading makes up less than 10% of the firm's revenue. But many observers say the trading these firms do for their own accounts is much larger than they...