Corporate finance

On the wealth management side, Morgan Stanley posted $4.41 billion of revenue, which was 2% higher than last year and blew away analysts’ estimates for a 9% decline.

While some firms have been successful at leveraging technology to scale sales and marketing processes, others have failed.

James Gorman dismissed any speculation after the unit posted record revenue and pretax profit in the second quarter.

A search for returns in less liquid assets may blur the transparency of real portfolio value.

The beleaguered bank has suffered from attrition since a fake accounts scandal rocked the firm in 2016.

The bank has been slashing expenses, but executives acknowledged they remain high. Between having to hire thousands of compliance employees and waiting on the next CEO to be named, investments in new technology or other long-term growth are limited.

A new report asks whether the products have the potential to spark another crisis despite being created at the urging of the SEC to reduce risk.

Many relatively straightforward products have boosted their holdings of lower-rated bonds and emerging markets to juice returns.

There is growing disquiet among those who run and invest in the products about potential problems that might be caused by rate cuts from the Fed.

Expenses have outpaced or matched revenue growth during the past four to five years, while aggregate fees declined almost 20%, a study found.