From Quiver Quantitative:

Morgan Stanley plans to cut jobs in its wealth management unit, joining other Wall Street firms amid economic uncertainty. The cuts, impacting less than 1% of the division, come after flat revenue growth and lower-than-expected margin forecasts. The move reflects a shift in the bank’s operations and cost management strategy under new CEO Ted Pick. Analysts will closely watch Morgan Stanley’s restructuring and resource allocation, as it strives to balance growth and efficiency in a dynamic economic environment. This reflects a wider trend among financial institutions navigating ongoing market volatility and economic challenges.



Read more: Morgan Stanley Plans Job Cuts in Wealth Management Amid Economic Uncertainty