Breaking: Banks Competing With Each Other

Author:
Updated:
Original:

In a revolutionary development, it turns out that each would like the biggest piece of the stock-trading pie possible.

Investment banks are slugging it out over stock trading….

Lately, executives say, the fight has grown more intense. In the past year, Morgan Stanley has pulled neck and neck with Goldman Sachs Group Inc. in equities revenue.

Banks are prioritizing top clients, investing in electronic-trading platforms and paying employees more, executives say. Some firms, including UBS AG, have been active in hiring traders from peers.

"Especially because of the decline in fixed-income [trading], equities is becoming more and more important," said Christian Bolu, an analyst at Credit Suisse.

Goldman, Morgan Stanley and Other Banks Battle for Business Trading Stocks [WSJ]

Related

captain bank cartel

Pensions Accuse Morgan Stanley, Goldman Sachs Et Al Of Being Just A Little Too Tight With Each Other

Either the stock lending industry is truly a morass of collusion or some lawyers had too much time on their hands.

Looking To Run A Major American Bank? Look For Something Else.

Jamie, Lloyd, Jim, and Brian aren't going anywhere.

Dimon.Gorman.Tequila

James Gorman Can’t Wait To Pick Up The Check At The Next Bank CEO Kaffeeklatsch

It's the least he can do, what with all these fixed-income trading billions.