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Morgan Stanley is riding high on the IPO boom with 70% of the top 100 unicorns in its pipeline, CFO says
Good morning. Morgan Stanley had an impressive second quarter: revenue reached $21.3 billion, up 27%, while diluted EPS rose 58% on strong growth in investment banking and trading.
Summary
Good morning. Morgan Stanley had an impressive second quarter: revenue reached $21.3 billion, up 27%, while diluted EPS rose 58% on strong growth in investment banking and trading. But CFO Sharon Yeshaya framed the quarter as more than a result of favorable market conditions. She pointed to a broader strategy: using corporate relationships created through investment banking to drive recurring wealth management revenue.
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