Revenue at the world's 10 biggest investment banks fell 17 percent last year, extending a steady decline since 2009 as shrivelling bond trading income hit firms hard, an industry study showed. Sovereign debt turmoil in the euro zone shook trading in stocks and bonds and dealmaking in the second half of last year, pushing aggregate revenues down to $144 billion, $80 billion below a five-year revenue high hit in 2009, according to analytics group Coalition.Its index tracks Bank of America Merrill Lynch, Barclays, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, JPMorgan , Morgan Stanley, Royal Bank of Scotland and UBS.Fixed income -- the division that usually includes the trading of government and company bonds as well as commodities -- was the worst performer, with revenues there tumbling 25 percent across the ten investment banks.But the business, once a huge profit driver and which helped banks' revival after the 2008 financial crisis, still makes up the bulk of banks' income. Fixed income revenues were 52 percent of the total, the Coalition report showed.
Morgan Stanley is a global financial services firm that, through its subsidiaries and affiliates, provides its products and services to a group of clients and customers, including corporations, governments, financial institutions and individuals. Shares of MS remained unchanged at $18.71. In the past year, the shares have traded as low as $11.58 and as high as $29.56. On average, 27450900 shares of MS exchange hands on a given day and today's volume is recorded at 0.
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