Ruth Porat
Morgan Stanley posts strong first-quarter earningsPosted by RJ and Makay on Apr 19, 2012 |
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First-quarter 2012 earnings for Morgan Stanley beat expectations as trading revenue rose sharply and the wealth management unit showed solid returns. The firm posted higher trading revenue than the first quarter of 2011, a benchmark that its Wall Street rivals failed to achieve. It gained market share in key trading areas such as foreign exchange and interest rates, said chief financial officer Ruth Porat.
BNY Mellon vice chairman Karen Peetz is the most powerful woman in banking, according to American Banker Magazine, which just released its list of the 25 Most Powerful Women in Banking. Peetz manages about 17,000 employees worldwide and is the first female vice chairman in Mellon’s history. She rose to number one from a third place ranking last year.
Morgan Stanley has won out over Goldman Sachs as lead underwriter for the Groupon IPO, continuing a banner year for the firm and coming on the heals of the LinkedIn IPO it led two weeks ago.
