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January 20, 2012updated 04 Apr 2017 3:44pm

2011 revenue up at Morgan Stanley’s wealth unit

Morgan Stanleys Global Wealth Management Group (GWMG) has posted a 6% revenue increase to $13.4bn, up from $12.6bn in the twelve months since 31 December 2010. Pre-tax income at Morgan Stanleys wealth unit stood at $244m, a 33% quarter-on-quarter fall and a 37% slump on a year-on-year basis. Morgan Stanley said that its revenue increase reflected higher asset management and net interest revenues, partly offset by lower principle trading and investment banking revenues.

By Galen Stops

Morgan Stanley’s Global Wealth Management Group (GWMG) has posted a 6% revenue increase to $13.4bn, up from $12.6bn in the twelve months since 31 December 2010.

Pre-tax income at Morgan Stanley’s wealth unit stood at $244m, a 33% quarter-on-quarter fall and a 37% slump on a year-on-year basis.

Morgan Stanley said that its revenue increase reflected higher asset management and net interest revenues, partly offset by lower principle trading and investment banking revenues.

 

Slight dip in AuM revenue 

However, in the final quarter of 2011 Morgan Stanley’s wealth arm generated total revenue of $3.3bn, a figure unchanged since 30 September 2011 and 3% less than the $3.4bn generated in the last quarter of 2010.

Morgan Stanley primarily attributed this drop to lower commissions and investment banking revenues.

Total client assets were $1.6trn at year end, a 1% drop from 2010, with assets for clients with more than $1m standing at $1.2trn.

Morgan Stanley said net new assets increased 56% from a year ago to $35.8 bn.

 

 

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