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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.
April 16 -
The New York megabank is working to deploy artificial intelligence as it seeks to make its own operations more efficient. Solomon also sees an "unprecedented" opportunity in financing clients' needs as they invest in AI.
April 15 -
First-quarter results at the companies were promising for other banks looking to reel in fees from capital markets activities as deposit costs put pressure on net interest income.
April 12 -
Mariya Rosberg is named Americas head of banking and financial services at Marsh McLennan's Oliver Wyman unit; startup ZayZoon raised $15 million in a new funding round; and more in the weekly banking news roundup.
March 28 -
M&T Bank creates new chief communications officer role, Citi cuts London investment banking jobs as deal drought persists, new report by McKinsey advises banks to institute artificial intelligence from headquarters rather than by divisions, and more in our weekly news roundup.
March 22 -
For the second straight year, Goldman Sachs shareholders have filed a proposal calling for more details on racial and gender pay gaps. The request comes as the investment banking giant faces scrutiny over its lack of high-ranking women leaders.
March 19 -
BNP Paribas Asset Management says its ESG clients have been moving into money market funds in reaction to volatility in the market.
February 28 -
CEO Charlie Scharf has added another former JPMorgan Chase colleague to his leadership team as his shake-up of Wells Fargo continues. The hire of veteran investment banker Doug Braunstein comes as Scharf makes progress on his efforts to grow Wells' investment bank.
February 27 -
The Fort Lee, New Jersey, company has hired a pair of veteran investment bankers to lead an effort serving fintechs' capital market needs. It described the move as "doubling down" on its commitment to the sector.
February 26 -
Retail tycoon Mike Ashley says his lawsuit against Morgan Stanley is in part because the bank acted out of "snobbery."
February 22