Morgan Stanley quarterly profit beats on wealth management, M&A boom | Malay Mail

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NEW YORK, Jan 19 — Morgan Stanley beat quarterly profit expectations today as the Wall Street investment bank capitalised on a boom in mergers and acquisitions and generated robust fees from advising on deals. The bank’s wealth management unit also turned in a strong fourth quarter with revenue...

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NEW YORK, Jan 19 — Morgan Stanley beat quarterly profit expectations today as the Wall Street investment bank capitalised on a boom in mergers and acquisitions and generated robust fees from advising on deals.

Dealmaking activity is expected to remain robust despite the prospect of debt becoming costlier, while Main Street lenders are expected to post healthier profits from consumer lending as interest rates are likely to rise later this year. Investment banking revenue rose 6 per cent to US$2.43 billion. The unit includes the bank’s advisory, equity underwriting and fixed income underwriting businesses.

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