Morgan Stanley Tops Investment-Banking Forecast With Surging Debt Revenue

Morgan Stanley’s debt bankers posted a dramatic 93% revenue increase in the fourth quarter, far surpassing Wall Street expectations and driving investment banking fees to $2.41 billion. The record performance reflected strong underwriting demand, especially in debt markets, helping cap a standout year for the bank’s financial results. Total revenue growth and record net income underscore resilience in dealmaking and capital markets activity.