Boston, MA 10\/24\/2013 (wallstreetpr) –\u00a0Morgan Stanley (NYSE:MS) is a global financial services company that, through its subsidiaries and affiliates, provides its wide range of products and services to a gamut of clients and customers, including corporations, governments, financial institutions, and individuals.<\/p>\n
Morgan Stanley is amongst the other eight banks, on which U.S regulators filed a law suit. The suit filed was for selling faulty Mortgage backed securities to two credit unions, which got failed according to filing as the total sale of securities amounted to $2.4 billion.<\/p>\n
The bank announces a regular quarterly dividend to its preferred shareholders as it will be paying off a dividend series as the dividend to preferred stock holders with the series of A and C which will be paid October 15, 2013 and the record date for the same will be September 30, 2013.<\/p>\n
The company is into agreement with standard chartered PLC to sell its wealth management unit which is located in India. The deal is expected to be closed by end of 2013. Though the talks pertaining to the sale of the wealth management unit in India was initiated in November 2012, due to slowing macro environment and regulatory issues, the bank found it difficult to raise money as per their expectation due to rising regulatory costs and advisory fees.<\/p>\n
The company has already hired couple of advisers such as Edward Jones and a team of UBS to manage the sale of the wealth management unit. The said department, of MS manages $344 million of portfolio, which helps in generating approximately $1.8 million of revenue on annual basis.<\/p>\n
The company declared a steady set of performance in 3Q13, even though market condition was volatile. The bank reported a stable performance in terms of earning diversity and improving capital levels. It is presumed that, there is a further chance of improvement in the bank’s overall profitability, as MS was able to meet the compliances made through Basel \u2013III.<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA 10\/24\/2013 (wallstreetpr) –\u00a0Morgan Stanley (NYSE:MS) is a global financial services company that, through its subsidiaries and affiliates, provides its wide range of products […]<\/p>\n","protected":false},"author":32,"featured_media":11225,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[2236],"tags":[3474,1877,3475,1431],"stock_ticker":[],"class_list":["post-11224","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-morgan-stanley","tag-morgan-stanley-nysems","tag-ms","tag-nysems","entry"],"acf":[],"yoast_head":"\n