Morgan Stanley
Morgan Stanley posts strong first-quarter earningsPosted by RJ and Makay on Apr 19, 2012 |
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First-quarter 2012 earnings for Morgan Stanley beat expectations as trading revenue rose sharply and the wealth management unit showed solid returns. The firm posted higher trading revenue than the first quarter of 2011, a benchmark that its Wall Street rivals failed to achieve. It gained market share in key trading areas such as foreign exchange and interest rates, said chief financial officer Ruth Porat.
On Wall Street magazine has compiled the compensation plans of the large wirehouses and regional firms to see what’s in store for advisors at those firms. Annual production rankings measured firms at various levels of production from $200,000 to $1 million. The 2012 compensation story is more than the rankings or the team-based awards.
In dozens of comment letters filed Monday, bankers and their trade associations said the Volcker Rule would increase risk and costs for investors, hurt U.S. competitiveness and be vulnerable to legal challenge. The comments came as the world’s largest banks demanded a list of changes to a proposed U.S. ban on proprietary trading five months before the Volcker Rule is scheduled to take effect.
