Morgan Stanley

The Wall Street investment bank saw its profits rebound in the second quarter as last year's decline in mergers continued to thaw. "The game will have to go on because there's just been so much activity that has been suppressed," said CEO Ted Pick.

The outgoing CEO, now executive chairman of the Wall Street firm, told a conference at the Federal Reserve Bank of New York this week that cultural values are a critical element in any prospective merger or acquisition deal.

In essence, it's a largely automated way to create so-called thematic indexes, which identify investments based on emerging trends, rather than on traditional industry sectors or company fundamentals.

Companies going public in the first quarter globally raised $27.8 billion, a 10% jump from the same period in 2023, according to data compiled by Bloomberg.

Morgan Stanley CEO Ted Pick downplayed the importance of government investigations into potential money laundering issues involving wealth management clients. "We've been focused on our client on-boarding and monitoring processes for a good while," he said.

In a rare sweep, fixed-income and equities traders at five of the largest U.S. banks beat estimates for the first quarter.

The SEC and the Treasury's Financial Crimes Enforcement Network have sought information on certain clients outside the U.S. who've raised red flags and the bank's policies to address it.

With the market predicting fewer interest rate cuts than previously anticipated, analysts expect some larger banks will increase their 2024 guidance for net interest income when they start reporting earnings on Friday.

JPMorgan Chase's board has announced the slate of candidates to replace Jamie Dimon if he ever retires. The bank is just one of several large institutions that have recently decided on who will take over the top job.

The Paris court of appeals ruled against Bernard Mourad, saying the bank's cash and shares incentive programs "sought to ensure his loyalty in the long term." The judges said they were distinct from his performance compensation — covered by his salary and discretionary bonus.