Morgan Stanley agreed to sell its stake in oil-transportation company TransMontaigne Inc. to NGL Energy Partners LP for $200 million as part of the bank’s effort to reduce capital used by the commodities business.
Goldman Sachs Group Inc. partners Alison Mass and David Dase weren’t buying. The bankers stared skeptically at a glass of brownish liquid as a young man described a new technology for purifying even the filthiest water. The sample was safe to drink, he said, taking a sip.
Morgan Stanley , owner of the world’s largest brokerage, named Colm Kelleher to lead operations in Europe, the Middle East and Asia outside Japan, while Paul J. Taubman will take on responsibility for Latin America and Japan.
Goldman Sachs Group Inc., the Wall Street bank with the highest return on equity in 2013, reported earnings that topped analysts’ estimates as investment-banking revenue jumped to the highest level since the financial crisis.