Reported about 6 hours ago
Morgan Stanley's profits more than doubled in the fourth quarter, driven by increased dealmaking and stock sales, resulting in record revenue of $61.8 billion for the year. This surge was attributed to a strong U.S. economy and favorable market conditions, positioning the bank for a strong year ahead under CEO Ted Pick. Investment banking revenue saw a significant rise, growing 25%, while wealth management also contributed with a 13% increase in revenue.
Source: YAHOO