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Morgan Stanley

Politics
Hochul Decides On Lieutenant Governor, Reports Say Hochul Decides On Lieutenant Governor, Reports Say
Hochul Decides On Lieutenant Governor, Reports Say Kathy Hochul has hit the ground running in her opening two days as New York governor, reportedly choosing her top lieutenant a day after taking office. Hochul, who officially took over from former Gov. Andrew Cuomo on Tuesday, Aug. 24, has reportedly tapped State Sen. Brian Benjamin to serve as her lieutenant governor. Benjamin, a Democrat representing Harlem and other parts of Manhattan, was first elected to the State Senate in 2016 and has served two terms. He previously ran for New York City comptroller but lost in the primary in June to City Councilman Brad Lander. Incoming Lt. Gov…

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by Zak Failla
Police & Fire
Don Jr. Leaves NY As City Cancels Trump Organization Contracts, PGA, Corporate America Cut Ties Don Jr. Leaves NY As City Cancels Trump Organization Contracts, PGA, Corporate America Cut Ties
Don Jr. Leaves NY As City Cancels Trump Organization Contracts, PGA, Corporate America Cut Ties Donald Trump Jr. has become the latest member of the First Family to flee New York amid more fallout tied to the circumstances surrounding his father's unprecedented second impeachment. According to reports, Trump Jr. is following in the footsteps of his sister, Ivanka, who already left New York to establish residence in Florida. The move comes as the PGA moved the 2022 championship from the Trump golf course in Bedminister, New Jersey, and corporate America began severing all ties with the much-maligned president. Reports stated that Trump Jr. is looking at homes in Jupiter, Florida, less…

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by Zak Failla
News
Morgan Stanley Cutting Jobs Due To Uncertain Global Environment, Report Says Morgan Stanley Cutting Jobs Due To Uncertain Global Environment, Report Says
Morgan Stanley Cutting Jobs Due To Uncertain Global Environment, Report Says Wall Street giant Morgan Stanley will be cutting hundreds of jobs due to an “uncertain global economic outlook,” according to a new report. Morgan Stanley will be cutting approximately 1,500 jobs - roughly 2 percent of its workforce - impacting employees in technology, operations, sales trading, and research. The New York-based bank currently employees more than 60,000 people. According to CNBC, in October, Morgan Stanley posted third-quarter profit and revenue figures that beat analysts’ expectations. The company produced $10.1 billion in revenue, exceeding analysts’ estimates by appr…

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by Zak Failla
Obituaries
Westchester's Kristin Kiley, Morgan Stanley Executive, Dies At 46 Westchester's Kristin Kiley, Morgan Stanley Executive, Dies At 46
Westchester's Kristin Kiley, Morgan Stanley Executive, Dies At 46 A Morgan Stanley executive and wife, mother, daughter and sister in Westchester died on Tuesday, Jan. 29 after battling leukemia. Kristin Kiley of Bronxville was 46. She was the wife of John R. Kiley, mother of Ryan, daughter of Joseph and Nancy Gallagher, sister of Kara Gallagher, and adored stepmother of Ashley, Lauren and John.  Kristin was a graduate of Loyola College in Maryland and went on to become Executive IT Recruiter for Morgan Stanley up until the time of her death.  Kristin lived life with the utmost grace and positivity. She looked at each day with gratitude a…

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by Daily Voice
News
Northern Westchester Hedge Fund Manager Sentenced, Ordered To Pay $22M For Ponzi Scheme Northern Westchester Hedge Fund Manager Sentenced, Ordered To Pay $22M For Ponzi Scheme
Northern Westchester Hedge Fund Manager Sentenced, Ordered To Pay $22M For Ponzi Scheme A former hedge fund manager from Northern Westchester will spend nearly a decade behind bars after defrauding 45 investors out of more than $22 million through an elaborate Ponzi scheme that allowed him to live a lavish lifestyle. Michael Scronic of Pound Ridge, the former manager of the Scronic Macro Fund has been sentenced to 96 months in prison, Geoffrey Berman, the United States Attorney for the Southern District of New York, announced on Thursday. Scronic was also sentenced to three years of supervised release and must pay $22,026,427 in restitution to his victims. Scronic, 46, admitte…

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by Zak Failla
News
Northern Westchester Hedge Fund Manager Pleads Guilty To $22M Ponzi Scheme Northern Westchester Hedge Fund Manager Pleads Guilty To $22M Ponzi Scheme
Northern Westchester Hedge Fund Manager Pleads Guilty To $22M Ponzi Scheme A former hedge fund manager from Northern Westchester pleaded guilty Thursday to defrauding 45 investors, many of them friends and neighbors, of $22 million in a Ponzi scheme. Michael Scronic of Pound Ridge, 46, pleaded guilty to one count of securities fraud, which carries a maximum sentence of 20 years in prison. He is scheduled to be sentenced by Judge Cathy Seibel on July 9.  “Michael Scronic lied about the performance of his investment fund, telling investors that his returns were as high as 13 percent," U.S. Attorney for the Southern District of New York Geoffrey S. Berman said. …

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by Joe Lombardi
Business
Nearly 600 'Distressed Mortgages' Bought In High Foreclosure Regions Nearly 600 'Distressed Mortgages' Bought In High Foreclosure Regions
Nearly 600 'Distressed Mortgages' Bought In High Foreclosure Regions Gov. Andrew Cuomo announced that the state's Community Restoration Fund has purchased 172 mortgages in an effort to bring owners in targeted communities out of foreclosure and keep the homes from abandonment.  According to this article in Daily Voice, foreclosures are at an 11-year high in New York state, while nationwide they are at an 11-year low.  The Community Restoration Fund has helped strengthen the financial position of homeowners, bringing stability back to the housing market in neighborhoods across the state, and preventing so-called "zombie properties," Cuomo said. Thi…

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by Jon Craig