Financials

Ex-Morgan Stanley diversity officer says bank cut her budget by 71%

A lawyer representing a former Morgan Stanley  diversity officer who is suing the bank over racial discrimination said on Wednesday the bank cut her client's budget for promoting diversity and financial education by 71 percent from the time she started in wealth management to 2019.

The early coronavirus warning that woke up Wall Street

Before COVID-19 upended American life, the head of a $33 billion U.K. foundation told a collection of money managers how bad it was going to get. The alarm spread through the worlds of finance and business.

Wall Street firm will pay junior bankers not to work

Evercore Partners Inc. is offering to pay incoming junior bankers up to $25,000 to delay starting their jobs during the coronavirus pandemic, according to external recruiters, a move that hasn't been seen on Wall Street since the last financial crisis.