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Top Firm Said To Suffer Big Trading Loss

The Chips Are Down

Bloomberg reports that Morgan Stanley is said to have suffered a trading loss in the tens of millions in the second-quarter, after bets on the direction of 5 and 30-year interest-rates are believed to have gone against it.

Wells Fargo & Company Elects New Board Member

E Chao WFC Director

Wells Fargo & Co has said that its board of directors has elected Elaine L. Chao, the former U. S. Secretary of Labor and the first Asian Pacific American woman to be appointed to a presidential cabinet, to the company's board of directors, effective July 1, 2011.

Moelis & Co Announces Appointments For Global Advisory Board

Moelis & Company

New York and London - As part of its continued international expansion, Moelis & Company, the New York-headquartered independent investment bank, has announced the appointment of five Senior Directors who bring global financial, government and economic experience to the firm and will provide senior counsel and strategic advice on industry issues particularly across international financial markets.