Wall Street revived and Morgan Stanley hit a new high. The CEO asserted that it was difficult for competitors to catch up with big banks.

Q3, the head bank stock in the United States, has a bright earnings report. The CEO of Morgan Stanley said that the distance between big banks and small banks is widening.

Since this fiscal quarter, JPMorgan Chase, Bank of America, Qualcomm and Citigroup have all produced excellent "transcripts", indicating that the banking industry in the United States has picked up significantly.

Morgan Stanley Q3' s performance is also very gratifying. The financial report shows that Morgan Stanley's net revenue in the third quarter increased by 16% year-on-year to $15.38 billion, and its net profit in the third quarter increased by 33% year-on-year to $4.221 billion.

This is mainly due to the strength of its wealth management business and investment banking business. Ted Pick, CEO of Morgan Stanley, said in a statement that the rising stock market and the net inflow of funds provided support for the assets of the wealth management and investment management departments, and the total asset management of the two departments reached about 7.5 trillion US dollars.

According to the financial report data, the revenue of Morgan Stanley's wealth management department reached a record high in the third quarter, accounting for about half of the total revenue; The revenue of institutional securities department (where investment banks and trading businesses are located) increased by 20% to $6.815 billion, of which the revenue of investment banking business increased by 56% year-on-year, mainly due to the increase in underwriting business.

CEO Ted Pick, CEO of Morgan Stanley, also said in an interview with the media on Wednesday:

"(Also) another factor is that it is difficult for competitors to catch up with big banks now, because the cost of running these enterprises is high every year."

After the financial report was released, Morgan Stanley's share price once rose by 8.2%, the biggest increase in the market in the past four years.

Since the beginning of this year, Morgan Stanley's share price has risen by more than 27%, with a market value of US$ 193.3 billion.

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