Structured product performance boosts Morgan Stanley’s top line

The US investment bank was the main structured products issuer in its domestic market in Q4 2021, while also making the top 10 in Japan, Taiwan, and the UK. Morgan Stanley has reported net revenues of US$14.5 billion for the fourth quarter of 2021 compared with US$13.6 billion a year ago. Net revenues for full year 2021 were a record US$59.8 billion, up 23% year-on-year (FY2020: US$48.8 billion). Net income, at US$15 billion – also a record – was up 37%. The bank, led by chairman