Today's biggest story on Wall Street is the slew of US banks on deck to report their quarterly earnings. Mortgage lending and investment banking take center stage as market volatility and rising rates stall transaction volumes.
[New York 11th Reuters] - US financial giant Morgan Stanley decided to change the top of the investment banking sector, Mr. Eli Growth, Simon Mr. Smith will be newly appointed as the global co-manager. I found out in the internal memo confirmed by Reuters. Mark Acorn and Susie Huan, who are currently co-heads, have been promoted to executives of the new department composed of senior bankers.
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Morgan Stanley defies bank diversity trend
The leadership changes announced Thursday position a slate of potential successors to CEO James Gorman who are mostly white and male.
May 20, 2021 4 MINS
After years of talking about the need for more equality on Wall Street, two of the biggest banks just previewed what the finance industry’s next generation of leaders will look like.
At Morgan Stanley, they’ll resemble the old guard.
Chief Executive James Gorman unveiled his biggest leadership change in over a decade, positioning a slate of potential successors that’s mostly white and male just as Wall Street’s bosses have been for decades. The group includes trading architect Ted Pick and wealth management leader Andy Saperstein, plus investment management’s Dan Simkowitz and new Chief Operating Officer Jon Pruzan.
Morgan Stanley Bucks Bank Diversity Trend With New Crop of Stars wealthmanagement.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from wealthmanagement.com Daily Mail and Mail on Sunday newspapers.