The central bank has encountered criticism for allowing three banks to direct funds to dividends and buybacks even though their capital levels fell below required minimums.
Barclays, Morgan Stanley, True Positive and other firms are turning to the technology for simulations and problems that demand large quantities of computing power.
To teach its automated advice platform how to help advisers communicate with clients, the company has sought to develop a bank of knowledge about psychology and other expertise beyond traditional wealth management.
High-powered portfolio simulations, security and client communication are among the most promising possibilities, say tech leaders at Morgan Stanley, D-Wave and Clovyr.
The moves are seen as setting the stage for CEO James Gorman’s eventual retirement; banks outside the U.S. are suffering from the greenback’s recent rise.
The Senate Banking Committee's top Democrat singled out Morgan Stanley and Goldman Sachs, which he said "got passing grades" despite being unable to maintain minimum required capital levels.
Almost 10 years after the financial crisis, Wall Street was starting to wonder aloud: Might Goldman Sachs or Morgan Stanley make a big acquisition? Much of that speculation got a reality check on June 28 when both firms scraped through the Federal Reserve's annual stress tests.
A judge rules the accounting firm should have detected the fraud that brought down Colonial Bank; Fed deal with Goldman and Morgan Stanley shows softer side.
