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Morgan Stanley's wealth business slowdown overshadows profit beat
StreetInsider· 7 days agoThe bank's wealth business had flourished under former CEO James Gorman, generating more stable revenue than more volatile market-sensitive businesses such as investment banking and trading. It aims to manage $10 trillion in client assets.
Morgan Stanley sees 41% profit jump, but wealth management teeters
Banking Dive· 7 days agoProfit at Morgan Stanley jumped 41% in the second quarter, to $3.1 billion, from $2.2 billion a year earlier, the bank reported Tuesday. Investment-banking fees, up 51% to $1.6 billion, drove ...
Morgan Stanley's investment banking soars on deal outlook, but weaker wealth weighs
StreetInsider· 7 days agoBy Tatiana Bautzer and Manya Saini (Reuters) -Morgan Stanley's second-quarter profit beat expectations on Tuesday, driven by a surge in investment banking that was offset by muted growth in wealth management....
Morgan Stanley profit surges on investment banking, trading, while wealth lags
The Globe and Mail· 7 days agoThe bank joined other Wall Street lenders, including Bank of America and JPMorgan in reporting...