Yemi Falana

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The head of Morgan Stanley's most prized business is leaving the firm

Colm Kelleher, currently president of the firm's Institutional Securities Group, will become the sole president of the bank, including the wealth-management division.<p>Both Fleming and Kelleher were seen as potential successors to CEO James Gorman.<p>Fleming is leaving the firm "to pursue other …


GOLDMAN: Here are the 8 most overpriced stocks on the market

For some stocks, the firm sees a whole lot of downside.<p>In a new chartbook for the first quarter, Goldman Sachs' David Kostin and his team have compiled a list of stocks that are priced much too high compared to the firm's analysts' price targets.<p>The companies whose valuations are too rich include …


Morgan Stanley's Bloodcurdling Economic Forecast: Global GDP To Shrink By 5% Next Year

This is of course the time when everyone rolls out their forecasts (aka “guesses”) for the year ahead. And there’s a fairly bloodcurdling one from Morgan Stanley, that global GDP growth is going to go into reverse next year: the world at the end of 2016 will be 5% poorer than it was at the …


Wall Street is searching for a bottom in the oil price ― and getting ready to pile in

And it may get worse.<p>Some of Wall Street's top names are trying to figure out how low the oil price could go.<p>Speaking on CNBC's "Fast Money Halftime Report" on Friday, billionaire investor Carl Icahn said that the oil price could fall further because it started to pick up again.<p>"I don't think …


Everyone has it wrong about Janet Yellen's next move

Pro… con… off the wall - readers' sentiments were all over the place.<p>But a clever reader mercifully brought the discussion to an end with this quote from fellow Baltimorean H.L. Mencken:<p>All over the world, elections allow the people to express their innermost thoughts and feelings.<p>This is a big day …

Janet Yellen

This is how much you can hope to earn on Wall Street based on your degree

Wall Street professionals come from a variety of college degrees and majors, but there is one degree that's more lucrative than any other.<p>Executive MBA and MBA holders earn the most money of all finance professionals, according to Emolument, a salary-benchmarking website that collects self-reported …

College & University
New York City

CITI: The bond market is littered with landmines

Investors are going to have to tread carefully in the bond market.<p>Citigroup strategists led by Stephen Antczak have a 25-page note out on the outlook for credit in 2016, and one of the key themes for the year ahead is deteriorating fundamentals at investment-grade companies.<p>"Compared to a year ago …


Inequality is bad for everyone – even the rich – and here's the Morgan Stanley report to prove it

And yes, even the rich ought to worry about the way they are taking an ever-increasing share of society's wealth and income, according to a weighty new analysis of inequality in the richest, developed economies from Morgan Stanley.<p>It's not all gloom, according to Morgan Stanley senior economist …


Deutsche Bank is dramatically overhauling its investment banking business

The bank is splitting its corporate banking and securities business in two.<p>The corporate finance unit will be combined with the bank's global transaction banking business into a single corporate and investment banking business, while there will also be a standalone global markets unit.<p>"The …