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Carmignac has appointed six new members to its Board of Directors, including former UBS executive Paolo Federici, who previously led UBS Global Wealth Management in Italy. Other notable appointees include Alexander Leisten, Habib Achkar, Pascale Guillier, Rose Ouahba, and Christophe Peronin, enhancing the firm's leadership and expertise.
The major US banks reported stronger-than-expected earnings for the third quarter, driven by a robust recovery in the mergers and acquisitions (M&A) sector, which bolstered investment banking growth. Morgan Stanley and Goldman Sachs led the profit increases, signaling positive trends for the financial sector.
The SMI closed lower, while UBS saw gains amid minimal movement on Wall Street, with Morgan Stanley in demand. Analysts from Zürcher Kantonalbank and Vontobel noted that the market had anticipated a lower outlook for 2024, which has now been confirmed with a surprising ten percent reduction in turnover. Despite this, the medium-term outlook remains unchanged but is deemed irrelevant.
James Kosan has joined UBS Wealth Management in Riverside, California, as a financial advisor specializing in comprehensive wealth management for affluent families. With a strong background in Family Office services and life transitions, he brings expertise in complex family strategies, business succession planning, and tax minimization. Kosan holds a Bachelor of Science in Business Management and has previously worked at Morgan Stanley and Merrill Lynch.
James Kosan has joined UBS Wealth Management in Riverside, California, focusing on comprehensive wealth management for affluent families. With a background at Morgan Stanley and Merrill Lynch, he specializes in family office services, retirement planning, and tax minimization strategies. Kosan holds a Bachelor of Science in Business Management and is an advocate for youth development in the community.
Big banks experienced a significant rebound in the third quarter, driven by increased corporate confidence in issuing debt and pursuing mergers. Goldman Sachs reported a 20% rise in investment banking fees, while Bank of America achieved record trading revenue. Despite overall profit declines for some banks, optimism remains, bolstered by the Federal Reserve's interest rate cuts, though geopolitical uncertainties and the upcoming U.S. presidential election pose potential risks.
Lazard has appointed Will Thompson as Managing Director of Healthcare Services, effective November 4, 2024, based in London. Thompson, who previously worked at Lazard from 1998 to 2004, joins from Barclays, enhancing Lazard's healthcare advisory capabilities alongside recent hire Michele Colocci. The firm has seen significant growth in its healthcare business, advising on over $245 billion in transactions since 2020.
US stocks surged on Monday, with the Dow and S&P 500 reaching record highs, driven by a nearly 3% rise in Nvidia shares. The S&P 500 closed above 5,800 for the first time, while Bitcoin and Ethereum also saw significant gains. As earnings season unfolds, investor focus remains on major banks and potential Federal Reserve interest rate decisions.
The DAX is nearing record highs as the ECB meeting and US earnings season approach. Key events include the ZEW index release, with expectations of an increase, and potential ECB rate cuts. US retail sales and unemployment claims will also be closely monitored, alongside significant data from China and major US bank earnings reports.
Stocks reached record highs as investors analyzed quarterly earnings and speculated on the Federal Reserve's upcoming decisions. The Nasdaq, S&P 500, and Dow all rose over 1%, with the latter two hitting all-time highs. This week, attention turns to the retail sales report, expected to show a 0.2% increase in September, following a strong jobs report and rising inflation indicators.
Morgan Stanley
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04:20 17.10.2024
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16:06 15.10.2024
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15:30 14.10.2024
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14:18 14.10.2024
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09:00 14.10.2024
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