Morgan Stanley’s bond-trading bonanza — Payments tech salaries — Fannie Mae shakeup

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Summary List Placement

Happy Saturday!

Big bank earnings season was in full swing this week. From top execs laying out the rationale behind dealmaking to shedding some light on their plans for the future of the physical office, here are some of this quarter’s highlights:

Morgan Stanley’s CEO explains why the bank’s $7 billion bid for Eaton Vance makes sense even with such a high price tag: ‘I’m not ashamed to say it’s fully priced’
JPMorgan and BlackRock are both looking to do M&A. Their execs just gave a glance at what they could buy.
‘Why not step aside now?’ Analysts just grilled outgoing Citi CEO Mike Corbat over how he ran the bank and made comparisons to embattled Wells Fargo
Here’s what 7 CEOs of major financial firms are saying about the return to office and the future of their real estate footprints

If you’re not yet a newsletter subscriber, you can sign up here to get your daily dose of the stories dominating banking, business, and big deals.

Keep reading to learn more about what engineers are getting paid at Amex, Mastercard, PayPal, Square, and Visa; a leadership shakeup at mortgage giant Fannie Mae; why big investors like Blackstone have been snapping up film and TV production space as a hot real-estate play;  and a deep dive on how per-diem lawyers have found creative ways to reinvent themselves. 

Mortgage giant Fannie Mae is shaking up leadership in its largest business

US government-controlled Fannie Mae, a key player in the country’s massive mortgage market, is shuffling leadership in its largest business line, according to recent internal memos seen by Business Insider. 

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The changes inside Fannie Mae, which the government took over during the great financial crisis and has become a political football, come just weeks before the US presidential election.

You can read all the details on the shakeup here. 

Big money is pouring into film and TV production spaces. Here’s a look at the opportunities — and risks — for this hot real-estate play.

Brookfield Property Partners is in talks to take a stake in Blackhall Studios, a production facility with nine sound stages in Atlanta, sources told Business Insider. 

Dan Geiger and Casey Sullivan chatted with studio owners, private-equity executives and brokers to learn what’s been driving a flurry of activity from big investors.

A Morgan Stanley credit desk has reaped nearly $1 billion thanks to a surge in corporate borrowing and bond-portfolio trading

As Alex Morrell reported, Morgan Stanley has had a huge year in credit trading — reaping nearly $1 billion from its investment-grade desk.

Despite ranking fourth in underwriting IG debt, the firm is a perennial top competitor when it comes to trading it.  Helping its cause: Morgan Stanley has one of Wall Street’s top operations in algorithmic and bond portfolio trading, which has accelerated in 2020.

You can read all the details on the blowout performance here. 

AT&T is putting WarnerMedia’s huge NYC headquarters under review 

AT&T is …read more

Source:: Businessinsider – Finance

      

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