Investment banking

The investment banking giant has been the subject of regulatory probes regarding the way it vets prospective clients. So far, that's not driving away potential clients, executives say.

Gorman is stepping down as the bank's chairman at the end of the year. Here's a look at how he rebuilt Morgan Stanley with a focus on wealth management.

The New York-based investment bank reported higher revenues across all business lines, with double-digit increases in wealth management and investment banking.

Morgan Stanley CEO Ted Pick downplayed the importance of government investigations into potential money laundering issues involving wealth management clients. "We've been focused on our client on-boarding and monitoring processes for a good while," he said.

The New York megabank is working to deploy artificial intelligence as it seeks to make its own operations more efficient. Solomon also sees an "unprecedented" opportunity in financing clients' needs as they invest in AI.

For the second straight year, Goldman Sachs shareholders have filed a proposal calling for more details on racial and gender pay gaps. The request comes as the investment banking giant faces scrutiny over its lack of high-ranking women leaders.

The New York megabank is considering splitting its institutional clients group division into three parts following the upcoming departure of top executive Paco Ybarra, the Financial Times reported. The heads of the three segments would report directly to CEO Jane Fraser.

Credit Suisse Group is planning a fresh round of job cuts at the global wealth management business starting next week, adding to dismissals that already started at the investment bank, according to people familiar with the matter.

The troubled bank is still worth more than investors now value it.

After investment banking fees fell by 54% last quarter, the nation's largest bank by assets is considering cutting back. "Last year, we had to add a lot of bodies just to execute the huge amount of volume we were executing," Chief Operating Officer Daniel Pinto said Tuesday.