Morgan Stanley is seeking regulatory approval to make financial advisers dual employees of its bank subsidiary in addition to the broker-dealer as the firm increases mortgage lending, a person briefed on the matter said.
As speculation grew that Federal Reserve Vice Chairman Janet Yellen would be nominated to lead the central bank, her appointment book beginning in April became peppered with meetings with the titans of finance.
Lenders including JPMorgan Chase & Co. and Citigroup Inc. will have to show they can survive the demise of a trading partner or a plunge in value of high-risk business loans in the 2014 version of U.S. stress tests.
Morgan Stanley said it will invest $1 billion to help improve affordable housing as part of a broader push to encourage investment in efforts that aid economic, social and environmental sustainability.
Morgan Stanley will take a 30 percent stake in Mitsubishi UFJ Financial Group Inc.’s Japanese wealth-management business in the latest partnership between the two banks, according to a person briefed on the matter.