Morgan Stanley's Wealth Management Unit

Institutional Securities, which houses the bank's Wall Street operations, posted revenue of $7.6 billion in the second quarter, compared with $7 billion, a year ago

The bank's top regulator has been pressing the New York-based firm to improve its processes and controls to prevent wealthy international clients from laundering money

Morgan Stanley has reduced the size of its overweight rating on India for 2018 to accommodate Brazil's upgrade to the overweight category where they expect a significant economic growth. China is its biggest overweight in the global context."We reduce our overweight on India from +250 basis points (bps) to +150 bps previously. Key bull points for India in terms of the country model are increasing dividend yield trend relative to its country peers, combined with constructive views from our economist and country strategist. Weaker scores for India are its weak return on equity (ROE) and net margin trend," a Morgan Stanley report co-authored by Jonathan Garner, their chief Asia & emerging markets equity strategist says.However, they believe India is likely to remain in the midst of a domestic liquidity super cycle. Over the next 10 years, it expects $420 billion - $525 billion in domestic equity inflows that could have the power to keep India's relative multiples higher for longer. ..

Bond trading revenue, however, fell 20 percent to $1.2 billion, mirroring declines across the sector