The Men Who Run HSBC

On the other hand, some of the worst investments to hold are those run by executives collecting fat rewards as the underlying business goes to pot.


Private banking's squeezed middle

Echoing their colleagues in investment banking, private bankers in Emerging Europe see the middle segment of their market being squeezed, with only the biggest and the boutiques surviving. That has some casting around for new strategies in the region.


Morgan Stanley revenues fall 24pc

The investment bank reported earnings of $564m compared with a loss of $558m in the year-ago quarter. Morgan Stanley also lost money in the first quarter.