Many banking executives have warned that a global wave of populism could have negative consequences.
“Going into 2017, the market sentiment is clearly more optimistic than we were going into 2016,” says its CFO.
The firm is cutting its global bonus pool for the equities division and dismissing some employees.
In the new Wall Street, there are simply fewer jobs.
Morgan Stanley changed its comp plan, forcing some of its brokers to generate more revenue to avoid a pay cut, a source says.
“The card has been doing great” and was embraced by consumers before the bank did any marketing, the CEO said.
Brexit will force global firms to examine all their business lines, especially trading, CEO James Gorman said.
Fixed-income trading revenue almost tripled, the biggest surge for that business on Wall Street.
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