Fundsters at several publicly traded banks' asset management arms may be breathing a little easier this week, and not just because the markets are up a few days in a row after some rough weeks in light of the coronavirus crisis.
| James Patrick Gorman|
, CEO of Morgan Stanley (parent of Morgan Stanley Investment Management
), sent all the investment bank's employees a memo yesterday insisting that the firm their "jobs are secure" as the bank won't reduce its headcount this year at all, according to reports from Bloomberg
, and Seeking Alpha
notes that Deutsche Bank (the parent of publicly traded asset manager DWS
) and Wells Fargo (the parent of Wells Fargo Asset Management
) are both pushing pause on their job cuts.
Neil Anderson, Managing Editor
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