|Bid||797.54 x 500000|
|Ask||0.00 x 500000|
|Day's Range||761.47 - 786.00|
|52 Week Range||451.50 - 955.00|
|PE Ratio (TTM)||233.17|
|Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Morgan Stanley will curtail its recruiting of veteran brokers, becoming the latest wirehouse to rethink the practice of paying top dollar to poach talent. In a memo to brokerage managers on Tuesday, wealth-management heads Shelley O’Connor and Andy Saperstein said the firm would “significantly reduce experienced adviser recruiting” in an effort to tamp down costs, while spending more on supporting existing brokers and investments in new technology. Merrill Lynch earlier this month told some executives that it would pause all recruiting after June 1 as it developed a new incentive package aimed at courting the industry’s most valuable free agents.
German meal kit company HelloFresh is preparing for a stock market flotation, which could come as early as autumn, but will only be launched if the pre-summer listing of peer Delivery Hero proves a success, people close to the matter said. Rocket Internet, the ecommerce investor which launched Hello Fresh in 2011, has picked a new set of so-called global coordinators for the flotation, comprising Morgan Stanley , JP Morgan and Deutsche Bank. Berlin-based Rocket has built up dozens of businesses from fashion ecommerce to food delivery, but investors have become concerned about heavy losses and falling valuations for its key start-ups as well as a paucity of listings.
Morgan Stanley will curtail its recruiting of veteran brokers, joining other big firms on Wall Street that are no longer willing to gorge on the pricey practice of paying top-dollar to poach talent.