The Commerce Department is tapping former Morgan Stanley banker Michael Grimes to lead a planned sovereign wealth fund, part of President Donald Trump’s effort to give the US a stake in projects he considers critical to national security.

Morgan Stanley lowered its 2025 economic growth forecast for the United States on Friday, citing greater impact from tariffs and a still-tight labor market resulting in higher inflation.

Morgan Stanley’s Swiss unit was fined 1 million Swiss francs ($1.1 million) for failing to prevent the laundering of millions of dollars by one of its former bankers in a Greek kickback scheme tied to arms sales.

The Swiss attorney general's office said on Thursday it had imposed a $1 million fine on Morgan Stanley's Swiss operations for failing to do enough to prevent one of its client advisors committing qualified money laundering in 2010.

Morgan Stanley says it now expects the European Central Bank to cut interest rates in April as it, like the market, expects a rate cut at Thursday’s meeting.

Alex Abagian, former co-head of Asia Pacific equity capital markets at Morgan Stanley, is joining hedge fund Ghisallo Capital Management, according to people familiar with the matter.

Morgan Stanley’s local leader said the firm plans to move into its new Birmingham headquarters in early 2026. The firm’s new local headquarters will be a 30,000-square-foot office building at 740 Shades Creek Parkway on a 1-acre lot adjacent to Shades Valley Lutheran Church and Fairway Investment’s office building just off U.

UBS Private Wealth Management has pulled over a former Morgan Stanley advisory group in Florida. UBS announced last week that it had recruited an advisory team led by Zachary Sobel, which had managed more than $400 million at Morgan Stanley.

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U.S. investment bank Morgan Stanley (MS) has lowered its 2025 economic growth forecast for America, citing uncertainty and impacts from import

The wirehouse's "strong investment in technology and AI has improved financial advisor productivity," KBW's David Konrad said.

Mike Wilson, chief US equity strategist and CIO at Morgan Stanley, says the ping-pong back and forth in markets is a trader’s haven, but “it’s not great for deploying a lot of capital” and sees pricing power for services companies and “anything that isn’t affected by tariffs.