Morgan Stanely’s fixed-income unit seen ‘most attractive’ – CEO

Morgan Stanely’s fixed-income unit seen ‘most attractive’ – CEO

Mubasher: Morgan Stanely’s CEO James Gorman said that in recent years the bank’s fixed-income unit has had the greatest opportunity for delivering growth.

The New York-headquartered lender’s fixed income division is the “the most attractive business,” as it would see a booming growth in the event of rising funds rates and more volatile sentiment in markets, Gorman said in a conference hosted by the Wall Street bank on Tuesday.

Morgan Stanely’s fixed income business has seen positive returns and is likely to see more as the lender is targeting $1 billion in quarterly fixed-income revenues.

On a side note, Gorman said that the bank would transfer from 400 to 500 employees out of the UK to other European countries, following the country’s Brexit vote.

Source: Mubasher

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