Investment Banking

Morgan Stanley advisory revenues hit eight-year high

Bank follows most Wall Street rivals in enjoying a rise in M&A work, but becomes latest victim of third-quarter drop in ECM and fixed income trading

Morgan Stanley advisory revenues hit eight-year high

Morgan Stanley’s third-quarter results had a familiar feel to them as the bank followed its Wall Street rivals in posting a multi-year quarterly revenue high for advisory work and a low in equity underwriting.

The bank on October 19 followed Goldman Sachs, Citigroup, Bank of America Merrill Lynch and JP Morgan in reporting its third-quarter results, before the earnings focus shifts to Europe, where the biggest investment banks' reporting season starts on October 21 with Credit Suisse.

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