Morgan Stanley Traders Drive Earnings Surge for Best Year
- Equities revenue at top Wall Street shop rises to $2.5 billion
- ‘The year finished off extremely strong,’ CFO Pruzan says
The Morgan Stanley building in Times Square New York.
Photographer: Nina Westervelt/BloombergThis article is for subscribers only.
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 fourth-quarter equities revenue surged to cement the bank’s standing as the top stock-trading shop. It joined its closest peers, JPMorgan Chase & Co. and Goldman Sachs Group Inc., in consolidating their standing on the top perch of Wall Street with the pandemic helping secure their lead over smaller rivals.