Morgan Stanley traders and bankers, like other Wall Street rivals, reported better-than-expected revenue results, driving a sharp increase in profits in the third quarter. The bank's trading revenue increased 13% in the third quarter. Prior to that, Morgan Stanley's rivals recorded profits one after another, as the market business boosted the profits of the entire industry, while the steady rebound in investment banking fees increased transaction matching commissions. CEO Pique once said that the investment banking business is at a turning point in a multi-year cycle, and as investment banking expenses rebound, this will be a boon for the company. The bank also assured the market that the profit margin of its huge wealth management business would rise sharply. The bank's wealth division's revenue for the third quarter was US$7.27 billion, higher than analysts' expectations, and net new assets were US$64 billion.

Zhitongcaijing · 10/16 12:09
Morgan Stanley traders and bankers, like other Wall Street rivals, reported better-than-expected revenue results, driving a sharp increase in profits in the third quarter. The bank's trading revenue increased 13% in the third quarter. Prior to that, Morgan Stanley's rivals recorded profits one after another, as the market business boosted the profits of the entire industry, while the steady rebound in investment banking fees increased transaction matching commissions. CEO Pique once said that the investment banking business is at a turning point in a multi-year cycle, and as investment banking expenses rebound, this will be a boon for the company. The bank also assured the market that the profit margin of its huge wealth management business would rise sharply. The bank's wealth division's revenue for the third quarter was US$7.27 billion, higher than analysts' expectations, and net new assets were US$64 billion.