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The link with J. P. Morgan & Co. ended completely in the 1980s. The business also became embroiled in the Guinness share-trading fraud at that time. In 1990, Morgan Grenfell was acquired in an agreed deal by its minority shareholder, Deutsche Bank. The use of the Morgan Grenfell name was discontinued by Deutsche Bank in 1999.
In March 2008, he was a Class A board member of the Federal Reserve Bank of New York. Under Dimon's leadership, with the acquisitions during his tenure, JPMorgan Chase has become the leading U.S. bank in domestic assets under management, market capitalization value and publicly traded stock value.
In 1987, Leeson moved to Morgan Stanley's Futures and Options back office, clearing and settling listed derivatives transactions. With few prospects for a front office role, he joined Barings Bank two years later, at £12,000 (equivalent to £42,634 in 2023) a year.
The 9 largest banks in the US: Goldman Sachs, Morgan Stanley, J.P. Morgan, Bank of America, Merrill Lynch, Citigroup, Wells Fargo, Bank of New York Mellon and State Street were called into a meeting on Monday morning and pressured to sign; all eventually agreed. The plan will be open to any bank for 30 days.
The outcome also matched what Morgan Stanley strategists outlined earlier this week as a best-case scenario for stocks: a 50-basis-point cut that didn't spook the market in regard to economic growth.
The following contains a list of trading losses of the equivalent of US$100 million or higher. Trading losses are the amount of principal losses in an account. [1] Because of the secretive nature of many hedge funds and fund managers, some notable losses may never be reported to the public.