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Investment Banking Editor

Morgan Stanley's top investment banker in London is stepping down from the US firm after nearly 30 years.

Franck Petitgas, head of Morgan Stanley International and former head of investment banking globally, is retiring from the bank, according to a memo seen by 

Morgan Stanley’s top London banker Franck Petitgas steps down

Petitgas will stay on as an adviser after a three-decade career with the bank

Paul Clarke

Morgan Stanley

Banking

Private equity firms to slow wealth deals after UK boom: ‘It’s been like stacking shelves’

Trading Places: Barclays hires new M&A boss, Julius Baer restructures again

Private equity’s wealth spree in the spotlight as AFH deal terms raise conflict concerns

Trading Places: Point72, Caxton and T Rowe Price make hires

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Find out who is on the move in the City and beyond this week

Point72 hires ex-Millennium portfolio manager Prejesh Patel

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Patel, who marks the hedge fund’s latest hire, will be based in its London office

Jain Global money manager Anurag Nema exits to Caxton after one year

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Bobby Jain’s hedge fund launched in July

Once an heir apparent for Larry Fink, Wiedman now tops the list of potential successors to PNC chief Bill Demchak.

PNC Names Former BlackRock Star Mark Wiedman as President

The European Union has a plan to counteract the swathe of tariffs U.S. President Trump is planning to impose on foreign goods, European Commission President Ursula von der Leyen said.

EU Has Plan to Retaliate on U.S. Tariffs, Von der Leyen Says

The Japanese investment firm is entwining its fortunes with a company that expects to lose billions of dollars for years to come, in the hope that it will emerge as the leader in AI.

How Is SoftBank Funding Its Mega Investment in OpenAI? A Lot of Debt

The BlackRock CEO says he wants individuals to have better access to the menu of private and illiquid investments that have long been core holdings of pensions, endowments and other institutions.

Larry Fink Says Regular Americans Need Private Assets Too

The prospect of a radical escalation in the global trade war in the coming days has nearly doubled the probability of a recession in the U.S. economy in the next 12 months to around 35%, according to Goldman Sachs.

Goldman Sachs Lifts U.S. Recession Probability to 35%

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