Verizon Communications Inc
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Communication Services : Diversified Telecommunication Services | Large Cap Value
Company profile

Verizon Communications Inc. is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses, and governmental agencies. Its reportable segments are Verizon Consumer Group and Verizon Business Group. Its Consumer segment provides wireless and wireline communications services. Its wireless services are provided across wireless networks in the United States (U.S.) under the Verizon brand. Its wireline services are provided in nine states in the Mid-Atlantic and Northeastern U.S., as well as Washington D.C., over its fiber-optic network under the Fios brand and over a traditional copper-based network. Its Business segment provides wireless and wireline communications services and products, including data, video and conferencing services, security and managed network services, local and long-distance voice services and network access to deliver various Internet of Things services and products.


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Morgan Stanley exec departure sparks more CEO succession talk

12:32 pm ET January 10, 2023 (MarketWatch)

By Steve Gelsi

UBS analyst sees potential CEO candidates dwindling for Morgan Stanley

The departure of long-time Morgan Stanley executive Jonathan M. Pruzan is narrowing the field of potential future chief executive officers at the marquee investment bank, an analyst said Tuesday.

Morgan Stanley (MS) said in a filing Monday that executive vice president and chief operating officer Jon Puzan is retiring on Jan. 31.

Bloomberg initially reported the departure of Puzan and that he was planning to pursue other opportunities.

"Although Pruzan was, in our view, not the most likely to win the top spot, with his exit, the list of potential replacements narrows," UBS analyst Brennan Hawken said in a research note.

CEO James Gorman has been in the job since 2010 and likely successors are now limited to three key department heads: Ted Pick, head of institutional securities group; Andy Saperstein, head of wealth management and Dan Simkowitz, head of investment management, Hawken said.

Pruzan formerly worked as chief financial officer at Morgan Stanley during some of the bank's most transformative deals such as ETrade and Eaton Vance.

"Pruzan's departure comes at a pivotal time as debate continues to percolate around potential successors to CEO James Gorman," Hawken said.

Shares of Morgan Stanley rose 0.4% on Tuesday. The stock is down 15.5% in the past year, compared to a 16.6% loss by the S&P 500 .

Morgan Stanley is due to report fourth-quarter earnings on Jan. 17.

-Steve Gelsi


(END) Dow Jones Newswires

January 10, 2023 12:32 ET (17:32 GMT)

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