Morgan Stanley’s second-quarter profit jumps as investment banking recovers

Shares of the bank still fell 2 per cent in choppy premarket trading as wealth management revenue rose only marginally, after powering growth through most of 2022 and 2023.

“The firm delivered another strong quarter in an improving capital markets environment,” said CEO Ted Pick in a statement. Morgan Stanley’s investment banking revenue surged 51 per cent to $1.62-billion in the second quarter.

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