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Morgan Stanley quarterly profit beats on wealth management, M&A boom

Morgan Stanley's results rounded out a mixed earnings season for the nation's largest banks that rode the M&A boom, but were dragged down by weak trading and higher expenses,

Morgan Stanley
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Morgan Stanley | Photo: Bloomberg

Reuters
Morgan Stanley beat quarterly profit expectations on Wednesday as the Wall Street investment bank capitalised on a boom in mergers and acquisitions and generated robust fees from advising on deals.

The bank's wealth management unit also turned in a strong fourth quarter with revenue rising more than 10% to $6.25 billion.
Morgan Stanley's results rounded out a mixed earnings season for the nation's largest banks that rode the M&A boom, but were dragged down by weak trading and higher expenses, which surged as they splurged to retain key personnel in a race for talent.

Dealmaking activity is expected to remain robust

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First Published: Jan 19 2022 | 7:36 PM IST

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