Happy Friday! The big news of the day was Morgan Stanley announcing plans to acquire investment manager Eaton Vance for $7 billion. We’ve got some great analysis on the news, so no point wasting any more time up here! If you’re not yet a subscriber, you can sign up here […]
Happy Friday!
The big news of the day was Morgan Stanley announcing plans to acquire investment manager Eaton Vance for $7 billion. We’ve got some great analysis on the news, so no point wasting any more time up here!
If you’re not yet a subscriber, you can sign up here to get your daily dose of the stories dominating banking, business, and big deals.
We are also looking for nominations for our first-ever Rising Stars of Real Estate. Get all the details on how to apply here.
James Gorman, the chief executive of Morgan Stanley.
Joshua Roberts/Reuters
It’s been a big year for Morgan Stanley.
Less than eight months after announcing plans to acquire discount brokerage E-Trade for $13 billion — and not even a week after closing the deal — the big bank has already pinpointed its next acquisition target: Eaton Vance.
Rebecca Ungarino has some great analysis on what acquiring a storied asset manager like Eaton Vance means for Morgan Stanley.
In short, it’s a move that indicates the bank’s desire to continue to differentiate its lines of revenue beyond the volatile business of sales and trading.
Click here to read the entire story.
Goldman Sachs CEO David Solomon speaks at the 2019 Milken Institute Global Conference
Michael Kovac/Getty Images
Blake Dodge with a great scoop here on memo Goldman Sachs sent to employees detailing its reopening and testing strategy to get workers back in the office. Check out the entire note here.
Morsa Images/Getty Images
Life sciences real estate — essentially space for pharmaceutical and biotech companies — is hotter than ever. Alex Nicoll analyzed the current industry boom, speaking to eight experts about what it means for the larger real-estate market (hint: it’s still going to hurt). Click here for the full read.
Dan Kessler, harbor CEO
harbor
Take a peak inside Harbor, a disaster preparedness app. Alex Nicoll spoke to Harbor CEO Dan Kessler, who gave us a tour of the app. Read the full story here.
Odd lots:
After expensing $5,100 in Dior bags, SoulCycle’s CEO was suddenly out. Now, an executive exodus and a culture war threaten to send the company off a cliff. (BI)
At least 60 Coinbase employees are quitting after the CEO declared an ‘apolitical culture’ at the $8 billion unicorn startup (BI)
A Corporate Sleuth Claims Squarepoint Capital Took Her Content. The Hedge Fund Is Threatening Action. What Actually Happened? (Institutional Investor)
A Columnist Makes Sense of Wall Street Like None Other (See Footnote) (NYT)
Vatican used charity funds to bet on Hertz credit derivatives (FT)
The Morris Planning and Zoning Commission has ordered a groundbreaking outdoor music series that emerged during the pandemic in Litchfield County to end after after complaints about noise, lights and traffic. The commission voted Wednesday to issue a cease-and-desist order dated Feb. 1, 2021—the end date for an executive order […]
