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Morgan Stanley's 'most attractive business' is fixed income - CEO

Reuters  |  NEW YORK 

NEW YORK (Reuters) - Morgan Stanley Chief Executive Officer James Gorman called the bank's fixed-income group its "most attractive business" on Tuesday at a conference the Wall Street firm held in New York.Despite being one of Morgan Stanley's smallest divisions, Gorman said, it has enormous incremental upside. Last year, the bank set a target to produce $1 billion in quarterly fixed-income revenue, on average, each year.Gorman, who is also chairman of Morgan Stanley, added the U.S. bank will move 400-500 employees out of the United Kingdom to other European nations as a result of Britain's ...

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First Published: Tue, June 12 2018. 23:45 IST
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