Morgan Stanley almost doubled Chief Executive Officer James Gorman’s pay to $18 million, the most in his four years leading the firm.
Greg Fleming, who runs Morgan Stanley’s asset-management division, said the business will boost profitability in the next two years while increasing assets by about one-third.
Morgan Stanley named Shelley O’Connor to lead its brokerage workforce, the world’s largest, replacing Doug Ketterer, who was appointed head of strategy and client management.
Wealthy investors remain bullish on the investing environment in 2014 and see the U.S. as the best place to put their money, according to a survey released today by Morgan Stanley.
The top 5 percent of hedge funds have increased the gap between the amount they pay traders and what Wall Street banks offer, recruiter Ilana Weinstein said.
Morgan Stanley Smith Barney, the world’s largest brokerage, will operate with a “mid-teens” pretax margin by the first half of 2013 “irrespective of the market,” according to Greg Fleming, president of the business.
Morgan Stanley, owner of the world’s largest brokerage, reported profit that beat analysts’ estimates as equity-trading revenue increased and earnings from wealth management climbed to a record.
Morgan Stanley rose the most in almost six months after reporting profit that beat analysts’ estimates on higher equity-trading revenue and record wealth- management earnings.
Morgan Stanley gave Colm Kelleher and Greg Fleming, the leaders of its two businesses, compensation packages of $8.6 million each for 2012, a decline of 7 percent from a year earlier.
"Given the breadth of her experience and proven ability to execute strategies focused on clients and advisers, she is ideally suited to lead the field."
- Greg Fleming on Feb 26, 2014