Trading lifts Morgan Stanley to strong profit

New York • Wealth management and investment banking firm Morgan Stanley saw profits rise 74 percent in the first quarter, helped by its well-regarded trading desks. Morgan Stanley’s wealth management arm, a part of the firm’s business that management has been focusing much of its energy on, also grew profits in the quarter. The New York-based bank said Wednesday that it earned $1.93 billion in the first quarter, or $1.00 a share, compared with $1.13 billion, or 55 cents per share, in the same pe...

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