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Friday, November 21, 2014

MOVES-Top sports banker Cornwell to join Taubman's new firm -source, (NYSE: MS), (NYSE: TWC), (NYSE: TWX)

Don Cornwell, a banker who advised the Buffalo Bills NFL team on their sale earlier this year, is leaving Morgan Stanley to join the new advisory firm headed by investment banker Paul Taubman, according to a person familiar with the matter. Cornwell, who was a managing director at Morgan Stanley's mergers and acquisitions group, has resigned from the bank, the person said. A representative for Morgan Stanley declined to comment. Taubman could not be reached for comment.This would the second high-profile hire for Taubman's new firm in two weeks. Reuters reported last week that John Trousdale, a vice chairman of global mergers and acquisitions at Credit Suisse AG, will leave the Swiss bank to join the firm.New York-based Cornwell was at Morgan Stanley more than 16 years. Besides advising sports teams, he also worked on media deals including Forstmann Little & Co's sale of IMG Worldwide to Silver Lake Partners and William Morris Endeavor last year.Since Taubman left Morgan Stanley in 2012, he has been behind some of the biggest media and telecom mergers, including Comcast's proposed acquisition of Time Warner Cable and Verizon's $130 billion deal to purchase out Vodafone's stake in its wireless venture.

Morgan Stanley is a global financial services company that, through its subsidiaries and affiliates, provides its products and services to a range of clients and customers, including corporations, governments, financial institutions and individuals. Shares of MS traded higher by 0.45% or $0.16/share to $35.55. In the past year, the shares have traded as low as $28.31 and as high as $36.44. On average, 10010400 shares of MS exchange hands on a given day and today's volume is recorded at 4616710.

Time Warner Cable Inc. (TWC) is a provider of video, high-speed data and voice services in the United States with systems located in five geographic areas: New York State, the Carolinas, Ohio, Southern California and Texas. Shares of TWC fell by 0.61% or $-0.87/share to $142.84. In the past year, the shares have traded as low as $125.45 and as high as $155.32. On average, 2788190 shares of TWC exchange hands on a given day and today's volume is recorded at 1373620.

Time Warner Inc. (Time Warner) is a media and entertainment company. Shares of TWX fell by 0.5% or $-0.4/share to $80.19. In the past year, the shares have traded as low as $58.22 and as high as $88.13. On average, 5277060 shares of TWX exchange hands on a given day and today's volume is recorded at 2776280.



Source