Morgan Stanley presented its first “Space Summit” in New York City recently, as the company is telling customers to focus on to space companies. Adam Jonas—Morgan Stanley’s Analyst—said that the event included input from the public and private space companies and financiers, with talks centered on national security, bandwidth, and capital formation in the secretive domain.
A dozen space-related firms were at the event, in addition to a host of Morgan Stanley analysts having backgrounds of everything from transportation to the future of telecommunications. Seven companies—namely: Telesat, OneWeb, Maxar Technologies, ViaSat, Spaceflight Industries, Rocket Lab, and Spire Global—constructing space hardware addressed at the summit, as per to CNBC. In addition, five consulting and venture capital firms such as Razor’s Edge Ventures, Seraphim Capital, RRE Ventures, In-Q-Tel, and TMF Associates also gave their significant inputs in the summit. As per to two attendees, Steckel disclosed OneWeb plans to begin only two-thirds of the earlier announced 900 satellites for its internet broadband constellation. Steckel clarified that OneWeb only requires placing 600 satellites in 12 orbits, sooner than 18, to obtain global coverage. Additionally, Steckel discussed concentrating originally on large enterprise purchasers, like marine and aviation, for its broadband networks.
Recently, Morgan Stanley was also in news for shutting down Moscow FX desks and equities. Morgan Stanley is intending to shut down its currency sales, trading desks, and equities in Moscow, becoming the recent foreign bank to decrease its presence in Russia. The bank plans to shift some employees to London, while other positions will be slashed. The U.S. lender has almost 40 employees on the trading desks, sales and offering support in Moscow, while its leftover local presence will be focused on capital markets, corporate finance, and mergers and acquisitions.
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