Citigroup Inc. was accused in a lawsuit by William Salomon of supplying the 99-year-old former Wall Street banker and son of the founder of Salomon Brothers with a personal secretary who was later convicted of stealing from him.
Greenhill & Co., the merger adviser GrainCorp Ltd. hired to consider Archer-Daniels-Midland Co.’s bid, is itself a potential target for firms looking to add banking expertise on optimism deal-making will resurge.
The Treasury 10-year note yield fell to the lowest level this year as a government report showing the economy grew at a slower pace than forecast in the first three months boosted demand for the safest assets.
Morgan Stanley’s reputation as Wall Street’s weakest link is diminishing in debt markets as Chief Executive Officer James Gorman’s bet on a brokerage unit that has amassed $1.78 trillion in client assets starts to pay off.
Morgan Stanley and Bank of America Corp.’s bets on the brokerage business are finally paying off, helped by U.S. stock indexes near all-time highs. The firms’ own shares aren’t getting the same benefit.