Morgan Stanley sees annual profits triple

21 January 2011

Morgan Stanley’s profits for the year more than tripled when compared with figures from 2009.

Financial statistics released by the investment bank showed that it recorded $4.5 billion, or $2.44 per share, which was higher than the $1.3 billion, or loss of $0.82 per share, seen the previous year.

Morgan Stanley saw a 60 per cent increase in profits for the fourth quarter of the year when compared with the same three month period in 2009.

James P Gorman, president and chief executive officer at the bank, said: "Morgan Stanley delivered improved performance across most of our businesses during the fourth quarter, and the strength of our premier client franchise was evidenced by participation in virtually every major transaction that helped raise capital for governments and leading corporations across the globe.”

He cited the performance of the institution’s investment banking division as key to the improvements with M&A, global equity and IPOs all helping enhance Morgan Stanley’s “leadership position”.

Further statistics from the financial report showed that compensation costs went up from $14 billion in 2009 to $16 billion.

By Jim Ottewill

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