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Morgan Stanley’s profits fall 9% as investment banking revenue falls
Morgan Stanley’s profits fall 9% as investment banking revenue falls
Updated October 18, 2023 at 11:05 a.m. ET
Morgan Stanley said third-quarter profit fell 9% from a year ago, hit by a sharp decline in transactions.
Investment bank revenues fell 27%, far worse than those of other banks. In this context, fees related to business advice on mergers and acquisitions have decreased by more than 30%. The same was true for income from subscription bond issues.
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