Morgan Stanley, has been reported to tatter with its fixed income division. Following the industry precedence of changing or reshuffling the executives, it has named Sam Kellie- Smith as the head of fixed income and commodities. The Wall Street Bank’s recent moves haven’t surprised the analysts at all.
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Morgan Stanley, JPMorgan Chase and Goldman Sachs were the top-three beneficiaries in equity trading revenues during the second quarter of 2015.
Wall Street investment bank Morgan Stanley reported a much stronger-than-expected rise in first-quarter profit, boosted by higher revenue from trading bonds and equities.
Goldman Sachs Group Inc (GS.N) reported its best quarterly profit in five years on Thursday, notching up big gains from trading bonds and currencies as global markets fluctuated during the first three months of the year.
Wall Street investment bank Morgan Stanley said it would pay a smaller portion of revenue in bonuses to its bankers and traders this year even in a better revenue environment.
Morgan Stanley's adjusted quarterly earnings fell short of market estimates as unexpected market swings in December hit its division that trades bonds, currencies and commodities and the Wall Street bank deferred fewer bonus payments.
Goldman Sachs Group Inc (GS.N) reported a 7 percent drop in fourth-quarter profit as sharp market moves in December hit its bond-trading business.
Morgan Stanley (MS.N), which has spent three years throwing out bad apples from its fixed income trading portfolio, now wants to put the freed up money into businesses that bear healthier fruit.
