Goldman’s new CEO is expected to instill more corporate discipline; second quarter earnings jumped nearly 40% compared to a year earlier on higher revenues.
The central bank has encountered criticism for allowing three banks to direct funds to dividends and buybacks even though their capital levels fell below required minimums.
Barclays, Morgan Stanley, True Positive and other firms are turning to the technology for simulations and problems that demand large quantities of computing power.
To teach its automated advice platform how to help advisers communicate with clients, the company has sought to develop a bank of knowledge about psychology and other expertise beyond traditional wealth management.
High-powered portfolio simulations, security and client communication are among the most promising possibilities, say tech leaders at Morgan Stanley, D-Wave and Clovyr.
The moves are seen as setting the stage for CEO James Gorman’s eventual retirement; banks outside the U.S. are suffering from the greenback’s recent rise.
The Senate Banking Committee's top Democrat singled out Morgan Stanley and Goldman Sachs, which he said "got passing grades" despite being unable to maintain minimum required capital levels.
