Morgan Stanley reports strong Q3 growth as investment banking surges

Morgan Stanley reported a strong third-quarter performance, with profits exceeding analyst expectations, signaling a broader dealmaking revival across Wall Street, News.Az reports.

The firm’s investment banking fees surged 56% year-on-year to nearly $1.4 billion, marking the largest leap among major banks.

The uptick in investment banking and trading revenue helped boost Morgan Stanley’s net profit by 32% to $3.2 billion. Overall, total net revenue increased by 16% to $15.4 billion, driven by a 13% rise in fixed income and equities trading.

Morgan Stanley’s CEO Ted Pick highlighted the firm's momentum in the markets and strong client engagement as key drivers of the success. The company’s stock rose by over 7% on Wednesday, putting it 29% higher since January.

Wealth management also contributed to the positive results, with net new assets soaring 79% from the previous year, reaching $64 billion. Despite some softness in its equity capital markets desk, Morgan Stanley’s results reflect the broader resurgence in investment banking across the major Wall Street firms.

News.Az