Morgan Stanley profit up 60 per cent

City A.M. Reporter
Morgan Stanley posted a 60 per cent increase in fourth-quarter profit, helped by rising revenue in its retail brokerage business.

Morgan Stanley, the second-largest U.S. investment bank, said fourth-quarter shareholder profit was $600 million (£375m), or 41 cents a share, compared with $376m, or 29 cents a share, in the same quarter a year earlier.