The US investment bank saw Q1 2020 sales of structured products in its home market increase by 95% year-on-year as it ‘navigated’ the quarter well given the conditions, according to chairman and chief executive officer James P. Gorman (pictured).
Morgan Stanley reported net revenues of US$9.5 billion for the first quarter ended 31 March 2020 compared with US$10.3 billion a year ago. Due to the coronavirus pandemic, more than 90% of the bank’s employees are working from home, with ‘limited impact’ to its operational capabilities. Morgan Stanley is providing financing to support covid-19 impacted clients across multiple sectors. The bank’s balance sheet has increased to support market and client activity - it is t