21 Jan 2015

Morgan Stanley surges ahead as legal expenses drop

While other banks continue to be dragged down by their legal provisions, Morgan Stanley saw profits rise dramatically as its legal costs shrank back.

Legal expenses have fallen at Morgan Stanley rSnapshotPhotos

Legal expenses have fallen from US$1.4b to $284m in the Q4 results just announced. Earnings attributable to common shareholders rose from $36m in Q4 2013 to $920m in Q4 2014. Source: Business Insider