North America’s best bank for wealth management 2023: Morgan Stanley

As the immediate chaos of the global financial crisis subsided, Morgan Stanley took a long hard look at its strategy and chose to focus on wealth and investment management. It is a decision that has paid off. Private banking generates steadier, more reliable income streams than the more cyclical business of investment banking.

As the immediate chaos of the global financial crisis subsided, Morgan Stanley took a long hard look at its strategy and chose to focus on wealth and investment management. It is a decision that has paid off. Private banking generates steadier, more reliable income streams than the more cyclical business of investment banking.

In 2022, wealth management generated pre-tax profit of $6.6 billion on revenues of $24.4 billion – both record numbers.

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