Morgan Stanley, UBS, Trader Turns To Football

Morgan Stanley is pinning its hopes of (almost) total world domination, it seems, on Asia's emerging economies and further expansion into the world's commodities markets. Vikram Pandit, Morgan Stanley's president of institutional securities, told Reuters recently that one of the biggest challenges facing Wall Street today is to capitalize on the Indian, Far Eastern and other of the world's fastest-growing markets, both financial and non-financial.

UBS has had enough in the US - at least for the time being. CEO Peter Wuffli feels that the bank has enough critical mass to take on the Yanks in their own backyard. He recently said that 'we have built a meaningful business in the US and through that have made it into the global bulge-bracket league (Oh yeah!?). We feel that our scale allows us to remain competitive for a sustained period of time without considering large-scale transformational mergers or acquisitions'.

And finally, 35 year-old former Bank One head of trading, Ryan Smith, had a 20-year plan. 20 years on Wall Street, earn a fortune and then become a football coach. The JP Morgan/Bank One merger moved things forward 5 years and Smith checked out early. The former trader has now left the bank and is currently shadowing the coaching staff at Ohio State University.

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