Morgan Stanley (NYSE:MS): Current price $27.80
Chief Financial Officer Ruth Porat said that Morgan Stanley will not give up its $181 billion reserve of cash, government debt, and other liquid assets to satisfy proposed United States rules on the amount of capital it holds versus total assets. Risk management linked with liquidity is “sacrosanct,” and will not be compromised in order to reinforce the firm’s holding-company leverage ratio, which at 4.2 percent lags the proposed 5 percent minimum, Porat explained during a Friday conference call with fixed-income investors. She explained that Morgan Stanley has plans to meet the leverage requirement by 2015, prior to the proposed deadline of 2018.
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UBS AG (NYSE:UBS): Current price $20.36
Switzerland’s number-one bank in assets will soon end a delicate episode in its history, as it intends to buy back the remainder of the Swiss National Bank’s bailout fund, which was established during the financial crisis to aid the company in shedding its toxic assets. UBS has declared its intention to purchase the fund in the fourth quarter, when a connected loan should be paid back to the central bank. The action will likely reinforce UBS’s capital base, and make it possible to counter any future economic downturns.
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Goldman Sachs Group Inc. (NYSE:GS): Current price $167.30
A knowledgeable source says that commodity analyst Stefan Wieler is exiting Goldman after four years, and that Friday is his last day at the firm. Wieler did not answer two calls to his office, nor did he respond to a Bloomberg request for an interview. However, he did say in an e-mail from his Goldman Sachs account that he was leaving after four years with the company.
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Credit Suisse Group AG (NYSE:CS): Current price $29.99
As it continues to rid itself of non-core businesses, Credit Suisse intends to vend its private-equity unit, Customized Fund Investment Group, to Grosvenor Capital Management LP. The proposed transaction should be announced at the end of the current week, and is anticipated to be valued at an amount above $200 million in cash and other considerations, which would be made up of future payouts based on the performance of private-equity investments. The deal between Credit Suisse and Grosvenor Capital has not yet been finalized.
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