Morgan Stanley

The Texas Attorney General will end reviews of Bank of America, Morgan Stanley and JP Morgan after the banks recently left the Net-Zero Banking Alliance.

BofA and Morgan Stanley left the Net-Zero Banking Alliance, but there was no word from the Texas attorney general on their status as bond underwriters in the state.

Three of the hires are group heads in public sector and structured finance businesses at the firm.

RBC ramped up business to land at second place and Jefferies rose to third while Raymond James entered the top 10, knocking Barclays to 11th. Citi, which exited the business, closed at sixth place.

Brian Wynne joins Jefferies as co-head of the municipal syndicate, while Morgan Stanley continues to see turnover in its muni ranks.

Alex Chilton is the firm's new head of municipal securities. Zach Solomon and David Gallin are co-heads of public finance. 

The firm is expected to announce the new muni leadership team next week.

The Puerto Rico Oversight Board is seeking the return of fees connected with Puerto Rico bonds and swaps.

Morgan Stanley Chief Executive Officer James Gorman said he expects the U.S. Federal Reserve to begin tapering its bond buying toward the end of this year and start raising interest rates in early 2022, faster than the Wall Street bank’s own economists forecast.

Officials call it the first for any state revolving fund program in the country.