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Report - Barclays CFO: no credible plan investment bank

Barclays Canary Wharf

In recent private meetings with analysts and investors, Barclays' new finance chief, Tushar Morzaria, surprised attendees with a frank admission, according to participants: The bank doesn't have a credible plan for what to do with its sprawling investment bank.

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People News: Morgan Stanley, Barclays

Morgan Stanley, the Wall Street firm retrenching in bond trading to improve returns amid an industry wide slump, has named Steve Zamsky chief operating officer of its fixed-income and commodities business.