Bloomberg Deutsche Bank AG had its credit rating cut by Moody’s Investors Service, which said the German lender faces mounting challenges in carrying out its turnaround. The bank’s senior unsecured debt rating was lowered to Baa2 from Baa1, Moody’s said in a statement this week. That left the grade two levels above junk. The firm’s long-term deposit rating fell …

  Bloomberg Morgan Stanley Chief Executive Officer James Gorman sounded a positive note about the Wall Street bank’s business, telling investors to “stay tuned” for better performance as markets recover. Speaking to Bloomberg Television in Beijing, where the firm is hosting its China summit, Gorman said a 6 percent return on equity in the first quarter was in “a very …

  Bloomberg Deutsche Bank AG hired Thomas Piquemal as head of global mergers and acquisitions and chairman of corporate and investment banking in France. Piquemal, 47, most recently senior executive vice president for finance at French electricity utility Electricite de France SA, will be based in Paris and report to corporate and investment banking chief Jeff Urwin, Frankfurt-based Deutsche Bank …