Morgan Stanley reports bounce-back in investment banking

An increase in mergers and IPOs, together with stronger trading activity, are fuelling profit growth at Morgan Stanley (US:MS).

Net revenue at the US bank rose by 14 per cent in 2024 to $61.8bn (£50.5bn), while net income jumped by 47 per cent to $13.4bn. It is important to bear in mind that 2023 was a particularly expensive year for Morgan Stanley – it paid out $353mn in severance costs and spent $249mn on a legal charge, among other things. However, the latest figures still show a clear rebound in key divisions.