The Meaning of Morgan Stanley’s Move Onto Main Street

Weekend reading

• “Dark Towers: Deutsche Bank, Donald Trump, and an Epic Trail of Destruction” by David Enrich. Out this week, the book by our colleague makes for uncomfortable reading in Frankfurt, Washington and beyond — read an excerpt and the NYT’s review.

• “Whistleblower: My Journey to Silicon Valley and Fight for Justice at Uber” by Susan Fowler. Also out this week, by another colleague, this book is a “powerful illustration of the obstacles our society continues to throw up in the paths of ambitious young women,” according to the review. And read her op-ed about the blog post that started it all.

• Warren Buffett’s annual shareholder letter. It’s always worth reading the folksy wisdom on investing, politics and more from the “Oracle of Omaha,” which comes out on Saturday.

Revolving door

HSBC has reportedly identified Jean Pierre Mustier, the C.E.O. of the Italian bank UniCredit, as the lead external choice to become its next chief. He’d be up against Noel Quinn, HSBC’s current interim C.E.O.

Volkswagen’s C.F.O., Frank Witter, plans to step down at the end of June 2021 for unspecified personal reasons.

Alexander Klabin, a founder of the $6.9 billion hedge fund Senator Investment Group, is leaving the firm. His co-founder, Douglas Silverman, is staying on.

The speed read

Deals

• T-Mobile and Sprint agreed to tweak their proposed merger, giving T-Mobile’s parent company, Deutsche Telekom, slightly more control of the combined group. (Reuters)

Article source: https://www.nytimes.com/2020/02/21/business/dealbook/morgan-stanley-etrade.html