CEO Gorman said the bank "is in excellent shape, notwithstanding the geopolitical and market turmoil that we find ourselves in," and added an announcement of his chosen successor is getting close.
Gerard Cassidy, large cap bank analyst at RBC Capital Markets, explains the steps Chief Executive Officer James Gorman has taken to diversify business and revenue sources at Morgan Stanley. He speaks

Geopolitical Conflicts in Middle-East in Focus

12:02pm, Wednesday, 18'th Oct 2023
Geopolitical Conflicts in Middle-East in Focus.
Morgan Stanley (MS) shares tumbled over 7% in early trading on Wednesday after reporting profit declined as sales at the investment bank's wealth management and investment banking divisions fell short
Treasury's $13 billion auction of 20-year government bonds on Wednesday is being viewed as a test of demand for long-dated Treasurys, with the potential to either lessen or exacerbate the selloff bein
Higher interest rates and concerns about a possible recession are keeping many corporate executives from completing deals.
Morgan Stanley (MS) came out with quarterly earnings of $1.38 per share, beating the Zacks Consensus Estimate of $1.27 per share. This compares to earnings of $1.53 per share a year ago.
Decent equity underwriting and equity trading performance support Morgan Stanley's (MS) Q3 earnings amid a continued slump in global deal-making and fixed-income trading and underwriting businesses.
U.S. stocks opened lower Wednesday, as investors weighed third-quarter earnings including from Morgan Stanley. The Dow Jones Industrial Average DJIA, -0.20% was down 0.1% soon after the opening bell,
Profit for the three months ended Sept. 30 was $2.4 billion, the bank reported on Wednesday.
CNBC's Leslie Picker joins 'Squawk Box' to break down the company's quarterly earnings results.
Higher interest rates and concerns about a possible recession are keeping many corporate executives from completing deals.
Morgan Stanley (NYSE:MS) topped expectations in the third quarter although profits fell reflecting a continued slump in deal-making. The investment bank reported revenue in the quarter ended September
Morgan Stanley reported third-quarter results that saw wealth management net revenue of $6.40 billion with FICC sales and trading revenue of $1.95 billion and equities sales and trading revenue of $2.
Morgan Stanley's profit fell about 9% in the third quarter, dragged down by lethargic dealmaking that sent the lender's shares down nearly 3% in premarket trading.
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