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Morgan Stanley's fixed-income business has great potential: CEO

Reuters  |  NEW YORK 

(Reuters) - Stanley said on Tuesday that in recent years the bank's group has had the greatest opportunity for delivering growth.

Speaking at a conference hosted by the Wall Street in New York, Gorman said that in 2015, he thought that the division, one of the bank's smallest, was its "most attractive business" because it stood to see rapid growth if interest rates rose and there was more volatility in markets.

"I thought actually is the most exciting business if (those) two things happen," Gorman said.

Indeed, Stanley's group has seen positive returns in recent quarters. Last year, the set a target to produce $1 billion in quarterly revenue, on average, each year.

Gorman, who is also of Stanley, added the U.S. will move 400-500 employees out of the to other European nations as a result of Britain's vote to leave the

(Reporting by in New York; editing by Matthew Lewis)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, June 13 2018. 03:23 IST