Excerpts: a Sunday note from Morgan Stanley’s chief biotech analyst Matthew Harrison Welcome to your first and only chance to have a Morgan Stanley biotech analyst tell you what he thinks about the market. Over the past week it has been striking to see how investors have reacted to the first signs that new COVID-19 […]
Morgan Stanley
Excerpts: “FINRA Fines Morgan Stanley $10 Million for AML Program and Supervisory Failures.” FINRA also found that Morgan Stanley failed to establish and maintain a supervisory system reasonably designed to comply with Section 5 of the Securities Act of 1933, which generally prohibits the offer or sale of unregistered securities. Instead, the firm primarily relied
Exerpts: A billionaire vanished for 400 days and his empire boomed Billionaire Mohammed Al Amoudi, is ‘still alive’ and will stand trial at some point for corruption and bribery, according to a Saudi official, who asked not to be identified. In Sweden, where Al Amoudi’s Preem is the country’s biggest fuel company, business is proceeding
Restructuring Watchlist: EFH Moves Off, In Largest Default
Excerpts: Restructuring Watchlist: EFH Moves Off, In Largest Default Energy Futures received S&P’s speculative-grade default rate in November, 2009, and was downgraded to SD on account of a distressed exchange. All this came in the wake of the $45B LBO of TXU, engineered by KKR, TPG, and GS — the largest LBO deal in history was
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Excerpts: Morgan Stanley Misses Deal Harmony With Colm Kelleher – Paul Taubman Clash Colm Kelleher and Paul J. Taubman, co-heads of Morgan Stanley’s biggest business, work on opposite sides of an ocean, disagree about strategy and share an enmity that has become the subject of company jokes. Neither Kelleher, 54, a gregarious former fixed-income salesman,
Excerpts: John D. Langlois Jr. ’64 *74 Jack Langlois died Aug. 19, 2010, after a lengthy battle with gallbladder cancer. He was truly a Princetonian in the world’s service. In 1982, he transitioned from academia to join Morgan Guaranty Trust. With his knowledge of Asian culture and languages, he rapidly became one of America’s preeminent
Excerpt: Morgan Stanley Real Estate Raises $1.75 Billion for Fifth MSREF U.S. Fund Morgan Stanley Real Estate announced today that it has successfully concluded fundraising for Morgan Stanley Real Estate Fund (MSREF) V U.S. with $1.75 billion of equity commitments. MSREF V U.S. has already committed approximately 60% of its capital to these types of
Deepak Moorjani: The Analytics of a REIT Take-Private
Selected Excerpts: More and more investors have discovered the appeal of REITs. Creatures of tax law, REITs provide transparency, liquidity, more permanent management and corporate structures, easier access to all forms of capital including unsecured debt, and greater overall property market efficiency. Consolidation in the Japanese REIT sector seems more than likely when valuations fall.
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Excerpts: Foreigners Become Bank Heads The China Banking Regulatory Commission (CBRC) has approved the appointment of John Langlois and Jeffrey Williams to lead the Shenzhen Development Bank, the Shenzhen-listed bank announced on Friday. Langlois, a former Morgan Stanley banker in China, will represent Newbridge Asia AIV as the chairman of the Shenzhen-based lender. Newbridge, a