Morgan Stanley is going through a major cost-cutting initiative – Project Streamline – in an attempt to shed $1 billion in annual costs. James Gorman, Morgan Stanley’s chairman and CEO, outlined the Project Streamline components at a recent conference the bank hosted. Non-client travel expenses is a big part, he said, and this is already […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Bank of Ireland ponders major IT overhaul Irish eyes are smiling… or at least weighing up their options. MSB and FDH Bank to merge on Temenos’ T24 core system The die has been cast. Neptune’s Rubikon crossed out. […]
Morgan Stanley has brought blockchain back to earth, calling it a “double-edged sword” because while it helps banks reduce clutter, profits could fall or shift to new players. In its 31-page report, “Global Insight: Blockchain in Banking: Disruptive Threat or Tool?”, the company predicts blockchain’s “widespread potential to disrupt financial intermediaries” but says there are […]
Morgan Stanley has appointed Naureen Hassan as chief digital officer for Wealth Management, a new position in which she will lead the strategy and marketing of digital tools and platforms serving the firm’s 16,000 financial advisors and 3.5 million clients. Naureen Hassan served most recently as executive vice president, Investment Services Segments and Platforms at […]
Goldman Sachs, JP Morgan and Morgan Stanley are building a reference data utility with SmartStream, which they say will provide data normalisation and validation for all asset classes. The project aims to reduce costs for consumers of data in capital markets by economies of scale.
Financial information services company Markit is aiming to create the largest financial markets messaging community and remove barriers to cross-market communication through its open messaging initiative and supporting technology, Markit Collaboration Services.
