Rising Market Risk Boosts Wealth Management Revenue for Morgan Stanley and Bank of America
Morgan Stanley and Bank of America reported significant growth in their wealth management divisions, driven by increased market volatility and client demand for professional financial advice. Morgan Stanley's wealth management revenue rose 16% to $8.5 billion, while Bank of America's Global Wealth and Investment Management unit saw a 12% revenue increase to $6.7 billion.
Topics: Bank Performance Market Volatility Revenue Growth Wealth Management