'Morgan Stanley' Print Fortunately up to USD1, 8 Billion

22 April 2010 - 13:39 pm

Reporting NEW YORK - 'investment bank' from the United States (U.S.), or 'Morgan Stanley', to make a profit amounting to USD1, 8 billion in the first quarter of 2010. Reverse digit losses last year which had recorded a loss.

Previously for the institutional securities business growth firm based in 'New York' was, Stellar, which deals with institutional clients suffer losses instead USD17 million in the first quarter of 2009.

The financial crisis has threatened to sink the company, which along with Merrill Lynch seems to be one of the most vulnerable on Wall Street after the collapse of Lehman Brothers in September of 2008.

The Company also received assistance from the government amounting to USD10 billion to stay afloat. "We focus on Morgan Stanley's global franchise intensely that helps the office provide better results this quarter, although we still have a lot of work to do," said Morgan Stanley CEO James Gorman, as quoted by the AFP on Thursday 22-4 - 2010.

According to him, the results for the current quarter reflect solid performance such as maintaining the interest rate, credit, currencies and products. In addition, revenues from corporate business to swell USD1, 6 billion to $ 5, 3 billion a year.

"In institutional securities, we started to build sales and trading businesses to pay the entire fixed income and equity platform," said Gorman.

Nevertheless, there were protests that reverberated for bonuses on Wall Street the stock market, where Morgan is almost 50 percent of company revenue spent on compensation, and make the company "italic" $ 4, 4 billion.

In addition, the company also experienced a gain of $ 2 billion figure is obtained as a result of taking a Morgan Stanley Smith Barney, a retail broker who led Morgan and run by Citigroup. (Martinhaeszone)