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Stock Market & Financial Investment News

News For MET;FRE;MS;AEG;BLK;FRE;MS;AEG;BLK;BAC;JPM;FCY;BAC;JPM;FCY;FNM;BBT;MTG;MET;FNM;BBT;MTG From The Last 14 Days
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March 24, 2015
08:59 EDTMSMorgan Stanley confirms Jonathan Pruzan will succeed Ruth Porat as CFO
Morgan Stanley (MS) announced in a filing that Ruth Porat, executive VP and CFO, would leave the company on April 30. In a memo, CEO James Gorman says, "After a 28-year career at Morgan Stanley, Ruth Porat has decided to leave the Firm to take on a new role in Silicon Valley and return to her California roots. It is with a heavy heart that we see her go. Ruth joined Morgan Stanley in 1987 and has played a number of key roles at the Firm, from her time leading the tech banking franchise during the Internet boom, to leading the FIG banking team during the financial crisis, then as CFO partnering with the senior team to transform Morgan Stanley for the new regulatory environment. She has been a mentor and sponsor to many colleagues, and a role model for even more. Her tremendous energy, diligence and insight have been an enormous asset to the Firm... Jonathan Pruzan, currently Co-Head of the Global Financial Institutions Group in Investment Banking, will be appointed CFO upon Ruthís departure. Jon joined Morgan Stanley in 1994 and has spent more than 20 years at the Firm working with financial institution clients. He understands the current regulatory environment, having shepherded clients through the Fedís stress test and CCAR processes. He brings both great technical skill and proven leadership to this new role. Jon has served on the Morgan Stanley/MUFG steering committee since 2013 and will continue to do so. He will join the Firmís Operating Committee and Management Committee."
08:57 EDTMSGoogle confirms that Morgan Stanley's Ruth Porat to join company as CFO
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08:55 EDTMSGoogle to name Ruth Porat as CFO, Bloombeg reports
Dow Jones previously reported that Porat is leaving Morgan Stanley (MS).
08:53 EDTMSMorgan Stanley CFO Porat leaving bank for role in Silicon Valley, DJ reports
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07:45 EDTMS, JPM, MET, BACMetLife CEO letter may be early sign of bank earnings headwinds, WSJ says
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March 23, 2015
09:56 EDTBACMassachusetts securities regulator fines Merrill Lynch $2.5M, Reuters reports
Massachusetts Secretary of the Commonwealth William Galvin has fined Bank of America's Merrill Lynch unit $2.5M for failing to supervise employees properly, Reuters reports. Merrill, Lynch, Pierce, Fenner & Smith was accused of failing to stick to its own compliance rules. Reference Link
09:45 EDTFREUBS to hold a field trip
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07:43 EDTBLK, METOcwen issues rebuttal letter to trustees
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07:19 EDTMSCapital Link to hold a forum
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06:29 EDTMET, BLKOcwen responds to investor allegations, WSJ says
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March 22, 2015
15:13 EDTMETU.S. may push out deadline for MetLife's 'living will,' Bloomberg says
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March 20, 2015
10:36 EDTBACBank of America changes bylaws to allow some investors to nominate directors
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09:19 EDTBLKBlackRock management to meet with JPMorgan
Meetings to be held in Boston on March 24-25 hosted by JPMorgan.
05:57 EDTBACBank of America faces pressure to defend structure, Financial Times reports
Bank of America will have to defend its current structure at its annual meeting in May after the SEC allowed a small shareholder the right to challenge the board on a break-up, reports the Financial Times. Bank of America's board could be under pressure to appoint a committee to examine a plan for divesting all non-core banking businesses if a proposal from Barlett Naylor of Public Citizen is adopted. Reference Link
March 19, 2015
15:29 EDTJPMJPMorgan execs 'brace' for potential investment/commercial bank cuts, FBN says
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12:29 EDTJPMJudge dismisses lawsuit over $13B JPMorgan-Justice Dept settlement, Reuters says
A federal judge has dismissed a lawsuit that sought to block a $13B settlement reached between JPMorgan and the U.S. Justice Department over mortgage loans, reports Reuters. Judge Beryl Howell accepted a motion by the Justice Department to dismiss the lawsuit, which argued the non-profit group Better Markets lacked standing to sue. Howell said, "The plaintiff has failed to meet its burden to show it has suffered an injury in fact." Reference Link
11:53 EDTBAC, MS, JPMU.S. banks face headwinds in unloading oil loans, WSJ says
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07:42 EDTBLKThe Federal Energy Regulatory Commission (FERC) to hold a meeting
The Commission discusses Duke Energy Carolinas, Duke Energy Progress, Black Hills Power and Westar Energy in an Open Commission Meeting being held at FERC Washington, D.C.'s offices on March 19 at 10 am. Webcast Link
07:22 EDTMETMetLife to consolidate NYC locations in MetLife Building, WSJ says
MetLife (MET) signed a twelve-year lease with Tishman Speyer (TSEYF) to increase its space in the MetLife Building in order to consolidate its four New York City locations into the namesake building above Grand Central Terminal, reports the Wall Street Journal. Reference Link
06:30 EDTBACSEC says BofA must put investment bank spinoff to shareholder vote, Reuters says
The SEC has told Bank of America that it must allow shareholders to vote on whether the company will attempt to spin off its investment bank unit, reports Reuters, citing a decision by the Securities and Exchange Commission. A bank spokesperson said the company "will respond to the proposal in our proxy statement." Reference Link
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