Vishal Bakshi formally joined Morgan Stanley March 17, according to the online database BrokerCheck. Bakshi’s move was earlier reported by AdvisorHub. Morgan Stanley declined to comment on the hire. Some headhunters see First Republic’s wealth management operation as a rich target for recruiting top talent, as the bank has struggled to shore up its position ...

Last Updated: March 23, 2023 at 1:55 p.m. ET First Published: March 23, 2023 at 8:00 a.m. ET Here are some of the more active stocks in Thursday afternoon trading, a day after sharp losses on Wall Street that followed the Federal Reserve’s latest interest-rate hike. Stock gainers: Regeneron Pharmaceuticals Inc.’s REGN stock was climbing ...

Regional bank stocks looked set to rebound early Thursday as the market digested remarks made by Federal Reserve Chairman Jerome Powell and Treasury Secretary Janet Yellen. Citigroup (ticker: C) CEO Jane Fraser added her vote of confidence into the mix, as she said the banking system is “pretty sound,” at the Economic Club of Washington ...

The FCA’s new Consumer Duty is due to come into force this July, as noted in our report ‘Insurance forecast 2023: claims trends and future risks’. The Consumer Duty will have a significant impact on insurers and insurance intermediaries. This article specifically focusses on the impact of the new Consumer Duty on insurance brokers. Overview ...

Shares in the San Francisco-based bank plunged in after-hours trading Tuesday and were 3.6 % lower ahead of the open of trading Wednesday, in a sign that volatility that has slammed the bank may not be over. Shares closed 30% higher Tuesday, but had lost nearly 90% of their value since the start of the month. ...

The stock market could easily take another hit soon. If it does, the stocks that stand to get hit the hardest will be different than last time.  The stock market has recovered from the depths of its bear market, defined as a 20% or greater drop from a previous high, which it hit in early ...

That was billionaire hedge-fund manager Leon Cooperman commenting on the current banking crisis that has seen the shutdown of SVB Financial Groups’s SIVB Silicon Valley Bank and crypto-friendly lenders Signature Bank and Silvergate Bank, as well as a bankruptcy filing for SVB Financial. Additionally, over the weekend, UBS UBS UBSG announced a $3.25 billion buyout ...

American depositary receipts of Swiss bank Credit Suisse (ticker: CS) plunged more than 58% to about 83 cents after larger rival UBS (UBS) agreed to buy Credit Suisse in a deal valued at about $3.2 billion. The merger of Switzerland’s two largest banks—engineered over the weekend by Swiss authorities—comes against a backdrop of industry turmoil. U.S.-listed shares ...

Churning financial markets, as the failure of three U.S. banks and uncertainty over one big European one continues to play out, did not stop some investors from buying that so-called dip in the stock market at one point last week. That’s according to a weekly report released Friday from Vanda Research, which said retail investors ...

When it comes to the latest financial panic, the smaller they are, the harder they fall. The small-cap Russell 2000 has been decimated over the past two weeks—and it’s not hard to see why. Some 17% of the index is in financial stocks, and with every small bank under the sun facing scrutiny these days, ...