Reported 16 days ago
Morgan Stanley reported a substantial increase in its third-quarter profit, primarily fueled by higher fees from investment banking activities, including advising on deals and underwriting securities. The bank's profit reached $4.6 billion, up from $3.2 billion a year earlier, supported by a booming mergers and acquisitions market surpassing $3 trillion this year. Notably, investment banking revenue surged by 44% to $2.11 billion, and wealth management revenues hit a record $8.2 billion as market valuations rose.
Source: YAHOO