Morgan Stanley posted an 11 percent rise in quarterly profit as strength in wealth management and investment banking businesses more than made up for a slowdown in trading. The bank's wealth management revenue rose 8.7 percent to $4.22 billion - its highest ever, while investment banking revenue rose 12.7 percent to $1.38 billion. Bond trading revenue, however, fell 20 percent to $1.2 billion, mirroring declines across the sector. Citigroup Inc, JPMorgan Chase & Co and Bank of America Corp have all reported steep declines in fixed income trading activity due to a slump in ...
Morgan Stanley's wealth management unit drives quarterly profit
Bond trading revenue, however, fell 20 percent to $1.2 billion, mirroring declines across the sector
Reuters Last Updated at October 17, 2017 19:18 IST