A resurgence in investment banking helped Morgan Stanley’s (MS.N), opens new tab profit beat Wall Street expectations for the second quarter, but weakness in its key wealth business sent the bank’s shares nearly 3% lower before the bell on Tuesday.
Revenue growth in the wealth management segment slowed to 2% in the second quarter, compared with a 16% jump a year ago. Net new assets came in at $36 billion, below $89.5 billion last year.
Source: REUTER
