Morgan Stanley’s profits increased more than 40 per cent in the second quarter, but the bank reported a slowdown in growth in its cornerstone wealth management business.
Morgan Stanley reported quarterly net income of $3.1bn, up from $2.2bn a year earlier and ahead of analysts’ estimates.
That jump was aided by a rise of just over 50 per cent in investment banking fees from a year ago, to $1.6bn.
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