Financial News and Economical Crisis

U.S. investment bank Morgan Stanley plans to improve the performance of its unit dealing with securities by attracting hundreds of new traders in the next few years to cut the gap to the main competitors on Wall Street, writes Financial Times referring to the statement of the new bank”s CEO James Gorman.

Securities transactions are an important element of the strategy Dzh.Gormana aimed at restoring the position of Morgan Stanley after an unprofitable 2009.

According Dzh.Gormana, the investment banking division of Morgan Stanley in 2009 before it had physical contact with stakeholders in cooperation with the Bank of investors and companies.

“We do not have enough people on the ground. We are not implemented in the segment of large customers and at the same time miss many small customers” - said the new CEO of the bank.

In 2009, the trading department of Morgan Stanley gave way to larger competitors such as Goldman Sachs and JPMorgan Chase: Morgan Stanley was unable to take full advantage of the boom in the securities markets, fixed income, commodities, currencies and interest rates. Revenues from operations Morgan Stanley market securities with fixed income in 2009 totaled $ 5 billion compared with $ 17.6 billion for JPMorgan, or $ 23.3 billion in Goldman.

Last year, Morgan Stanley has hired 350 new staff unit operations with securities. However Dzh.Gorman believes that this is not enough. According to him, personnel departments can and should increase by another 25% of the existing population, which is equivalent to finding hundreds of new traders in the next three years.

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