The world’s best private bank for digital 2023: Morgan Stanley
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The world’s best private bank for digital 2023: Morgan Stanley

In the wake of the global financial crisis of 2008, Morgan Stanley executives shook up the firm.

A long-time commitment to services that made lots of money in good years but too little in the lean ones was replaced by a focus on businesses that generate strong annual income streams, and to lock in customers for life – notably wealth and investment management.

It was tough going at first, but the model is working nicely now. In the full year 2022, the Wall Street firm’s wealth-management business generated $6.6 billion in pre-tax profit. Investment-management fees and net interest income accounted for 54% of total revenues, against 40% five years ago.

Andy Saperstein

Morgan Stanley attracted a record $311 billion in net new assets in 2022 – another record – boosting overall client assets to more than $4.2

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