Morgan Stanley pays $900 million for Solium
Just days after two of its rivals combined, Morgan Stanley inked a deal of its own. The New York-based bank agreed to buy Alberta, Canada-based SoliumCapital Inc. for $900 million. […]
Morgan Stanley
Morgan Stanley cuts jobs and bonuses
Morgan Stanley is cutting its global bonus pool for the equities division by as much as 4% and dismissing some employees after the industry’s results flagged last year, people with knowledge of the matter told Reuters.
Morgan Stanley, which ranked fourth for investment banking fees last year, cut more than 20 managing directors from its investment banking division globally, representing about 5% of the total, the sources said.
UBS, Morgan Stanley to raise stakes in China securities JV
Morgan Stanley and UBS Group are planning to raise their stakes in their securities operations in the country to the maximum 49% allowed, people with direct knowledge of the moves said, Reuters reported on Monday.
China allowed foreign banks to boost share holdings in securities joint ventures to a maximum 49% in 2012 from the previous cap of a third to help modernise the country’s capital markets.
Foreign investments banks with securities joint ventures in China, however, have not as yet raised their stakes as most of the ventures were small or struggling to break even due to sluggish onshore deals.