Member Info for bigsmoke

"
In what the Wall Street Journal is calling “the biggest takeover by a giant U.S. bank since the 2008 crisis,” Morgan Stanley said it is buying E-Trade Financial “in a $13 billion deal that will reshape the storied investment bank and firmly stake its future on managing money for regular people. The all-stock takeover, set to be announced Thursday, will combine a Wall Street firm in the late innings of a decadelong turnaround with a discount broker built on the backs of dot-com day traders.”

Morgan Stanley CEO James Gorman told the paper, “This isn’t about legacy-building; it’s about getting [Morgan Stanley] ready for prime time.”
"

https://www.americanbanker.com/morning-scan/morgan-stanley-to-buy-e-trade-ing-ceo-named-to-head-ubs

Financial Times
Into the fire

The U.K.’s Metro Bank made interim CEO Dan Frumkin’s job permanent on Wednesday, “as the retail lender prepared to outline its second attempted turnround plan in a year. Mr. Frumkin faced immediate pressure from investors and analysts to demonstrate a decisive turn away from the high-growth but high-cost strategy of his predecessors. They ran into problems after the discovery last year of a big reporting error that led to the departure of its chairman and chief executive.”

“Metro’s new broom has more mess to sweep up than most, following the departure of chairman Vernon Hill amid a toxic combination of accounting whoopsies and governance worries,” the paper comments.

Chumbawamba's greatest hits.

what has gone on today?

still code blue!
See ya'll at closing time.

If England and Wales follow Scotland’s lead and crack down on the likes of Airbnb and short-term lets, a large number of landlords’ businesses could be seriously disrupted.
https://www.mortgagestrategy.co.uk/news/lets-have-em/

"Metro Bank is the only major lender to explicitly permit lets of less than 90 days (up to a maximum of 90 days a year), but only for residential mortgage customers.

A Metro Bank spokesperson says it will “continue to provide this product as it’s something customers have told us they want”, despite the Scottish decision."

A Machine Learning Algo walks into a bar. Ouch! Wont do that again.

;) nice 1 RG

Take your dog for a walk and support this amazing local charity
https://wales247.co.uk/take-your-dog-for-a-walk-and-support-this-amazing-local-charity/
This year’s charity dog walk is sponsored by Metro Bank. Jonathan Field, Commercial Banking Director of Metro said:
“We are extremely excited at Metro Bank to be involved with City Hospice’s Wag this Way and the fact that we are the UK’s only dog friendly bank is a perfect opportunity for us to be involved and to support Cardiff’s local hospice”.

Metro banks on restructuring expert for turnaround
https://www.thetimes.co.uk/article/metro-banks-on-restructuring-expert-for-turnaround-sg2x8d8c3
Ben Martin reads this BB. Clear on that.

rising tide?
Shall see. Until lunch time or closing time.
Adios.

you know it.

the failure to realise "world class" russian gas reserves is finding an echo in the failure to exploit the "world class" mine at hand...

bottled it Keith1. too much of an unknow. and Mr T (Theosus) over on Metro went on about alreadyhaving coined it on BPC. too many too lates to the party for me. wish you the best there. As for Voggie - nothing but losses every time there. Its like my first crush and so will look in too. But they have to drill Matanda 2020 do they not? They also want to lay more pipe. Where they getting the money from?? Looks like it was the worst company on AIM after all.

You think that's Dan's turnaround strategy? Use all the deposits in the hope that ERNIE goes our way?

Blue horseshoe
"put all your best clients on it"

Well we sent out the raven. He didn't come back.

notty step"s" - mr T - the man with two bottoms.

Mr Pinnasim - you will find the highest recommended post of the last few days is my recommendation to bet against me. you will need a sanity check soon. as will Mr Dson. Looks like us three and the Grand PooBah himself were the only ones not to shake yesterday,

which, strangely enough, is the same as the luner cycle of the planet stonker.