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Bank Results Season: Morgan Stanley report $7.8billion | Advantage dealbook

Morgan Stanley's office on Times Square

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Morgan Stanley replaced its CFO with CRO during the quarter as REuters Insider reports and reported a good to go $41 cents EPs for its $7.4 billion revenues for the quarter. The good news is unlikely to last the conference starting in a couple of hours as the street is looking for the comeback of Bank of America and not much else from financials after Citi and Goldman Sachs set low expectations for the season. The gain for MS came almost entirely from its sale out of old partner China International as it bought in a new partner for its China “leadership” in securities transactions where China has allowed the new JVs to underwrite and not trade in securities

An income of $867 million would have been creditable for MS with Institutional securiities ( Client Trading) doing 3.6 billion and Wealth management $3.4 billion but for questions of regulation and the overheating in China even as the evening perked up in financial news from Lisbon and the further action on the Euro fund by ECB backing Sain’s $30 bln attempt to save the Cajas. AIG snubbed MS earlier in overnight news from Times square

Earlier reports had tempered Q3 results with A larger payout to the Smith Barney staff keeping staff costs high

One comment on “Bank Results Season: Morgan Stanley report $7.8billion | Advantage dealbook

  1. Pingback: Bank Results Season: (Bank of America) A grinch got the banks this season | The Banking and Strategy Initiative

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