Morgan Stanley posts best year on record amid trading boom
Traders cashed in during the waning months of 2020, but CFO Jon Pruzan does not expect a repeat in 2021
20 January 2021 - 17:28
New York — Morgan Stanley traders cashed in during the waning months of 2020 to round off the bank’s best year on record.
The division beat analysts’ estimates as equity revenue surged to cement the bank’s standing as the top stock-trading shop. It joined its closest peers, JPMorgan Chase and Goldman Sachs, in consolidating their standing on the top perch of Wall Street with the pandemic helping cement their lead over smaller rivals...
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