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Top Firm Exec's Ouster Gives Rise To More Loss Rumours

The old rumour mill is working overtime again. Hot on the heels of the announcement late Thursday of the retirement of Morgan Stanley co-president Zoe Cruz, the most high-profile woman on Wall Street, some are wondering whether this is a signal that more problems have been uncovered at Morgan Stanley and that further asset write-downs are now on the cards. The Wall Street Journal quotes Punk Ziegel analyst Richard Bove, who said that Cruz's departure 'must mean that Morgan Stanley is going to report write-downs much greater than previously suggested'.

Banks Will Still Take A Beating

Former Deutsche Bank analyst Mike Mayo opened his account with new employer CLSA Monday, assigning an 'underweight' rating to a number of US banks, and predicting loan losses that will exceed the levels seen during the Great Depression.



Pot Of Gold

European Bank CEO pay surges in 2013

Chief executives in some of Europe's biggest banks saw huge gains in their pay packets in 2013, with a number of bosses seeing hikes in excess of 10 percent from the previous year, data compiled exclusively for CNBC reveals.