Correction: Fitch: Morgan Stanley & Discover Remain on Watch Negative Despite New CEO Announcement.CHICAGO -- While notable, the appointment of John Mack John Mack can refer to:
 To comply with Wikipedia's , the introduction of this article needs a complete rewrite. and Discover Bank,
both of which remain on Rating Watch Negative by Fitch Ratings Fitch RatingsAn international rating agency for financial institutions, insurance companies, and corporate, sovereign, and municipal debt. Fitch Ratings has headquarters in New York and London and is wholly owned by FIMALAC of Paris. . Resolution of the Negative Rating Watch remains dependent upon the timing, choice and strategies of Mr. Mack and any new executive management. Such measures are expected to have the following goals: -- Stem the wave of employee departures; -- Achieve a balance in diversification of revenues while improving the profitability of the retail brokerage and investment management segments; and -- Retain the strength of the Institutional Securities segment. Capital and funding of the institution are also key factors in the ratings, particularly given the possible spin-off of Discover. A ratings downgrade Downgrade A negative change in the rating of a security. Notes: For example, an analyst may downgrade a stock from strong buy to buy, or a bond rating agency may downgrade a bond from AAA to AA. , if it occurs, is not expected to exceed one notch. Fitch's rating definitions are available on the agency's public web site, www.fitchratings.com. Published ratings, criteria and methodologies and relevant policies and procedures Policies and Procedures are a set of documents that describe an organization's policies for operation and the procedures necessary to fulfill the policies. They are often initiated because of some external requirement, such as environmental compliance or other governmental are also available from this site, at all times. This document will remain on the public site for seven days. |
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