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Stories of Interest
- Sarah ten Siethoff is New Associate Director of SEC Investment Management Rulemaking Office
- Catherine Keating Appointed CEO of BNY Mellon Wealth Management
- Credit Suisse to Pay $47Mn to Resolve DOJ Asia Probe
- SEC Chair Clayton Goes 'Hat in Hand' Before Congress on 2019 Budget Request
- SEC's Opening Remarks to the Elder Justice Coordinating Council
- Massachusetts Jury Convicts CA Attorney of Securities Fraud
- Deutsche Bank Says 3 Senior Investment Bankers to Leave Firm
- World’s Biggest Hedge Fund Reportedly ‘Bearish On Financial Assets’
- SEC Fines Constant Contact, Popular Email Marketer, for Overstating Subscriber Numbers
- SocGen Agrees to Pay $1.3 Billion to End Libya, Libor Probes
- Cryptocurrency Exchange Bitfinex Briefly Halts Trading After Cyber Attack
- SEC Names Valerie Szczepanik Senior Advisor for Digital Assets and Innovation
- SEC Modernizes Delivery of Fund Reports, Seeks Public Feedback on Improving Fund Disclosure
- NYSE Says SEC Plan to Limit Exchange Rebates Would Hurt Investors
- Deutsche Bank faces another challenge with Fed stress test
- Former JPMorgan Broker Files racial discrimination suit against company
- $3.3Mn Winning Bid for Lunch with Warren Buffett
- Julie Erhardt is SEC's New Acting Chief Risk Officer
- Chyhe Becker is SEC's New Acting Chief Economist, Acting Director of Economic and Risk Analysis Division
- Getting a Handle on Virtual Currencies - FINRA
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NEWSLETTERS & ALERTS
Morgan Stanley Execs Cash in on Post-Election Rally
Senior Morgan Stanley executives collectively earned about $10.5 million over the past week by exercising options and selling shares, with most of them profiting from an election-fueled rally in bank stocks, according to securities filings. Morgan Stanley shares, which traded as low as $22 in the last 12 months, have soared 17% since Trump's victory, closing Monday at $39.35. Executives at other large U.S. banks have not made similar trades during the recent run-up.
- CEO James Gorman earned $2.94Mn selling 200,000 shares that he exercised at $22.98.
- President Colm Kelleher earned $3.3Mn selling 179,999 shares that he exercised at $22.98.
- Investment management head Dan Simkowitz sold $2.3 million worth of stock (details not provided).
- CLO Eric Grossman earned $475K (details not provided).
CFO Jonathan Pruzan was the only one of the five executives to take profits before the election results. He sold $1.5 million worth of stock.