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Morgan Stanley beats expectations on booming deal making environment

Morgan Stanley Headquarters At 1585 Broadway In New York
“We are not in a banking crisis” Gorman of Morgan Stanley said, but he admitted “we have had and might still have a crisis in some banks.”

Wall Street giant Morgan Stanley beat profit expectations for the third quarter, driven by a booming deal making environment.

The US bank notched $3.7bn in profits over the last months, up around $1bn from the same period last year, it said today.

More to follow.