How Morgan Stanley transformed itself in one chart
Morgan Stanley just reported fourth-quarter earnings that beat on the top and bottom lines.
The firm also provided a look into how it has transformed over the past six years in a "Strategic Update" presentation.
The bank has grown its wealth management division pretty dramatically.
The fixed income, currencies, and commodities trading division has shrunk relative to the rest of the firm, while equities trading and investment banking have grown fairly proportionately to the rest of the firm.
Overall net revenue, excluding accounting adjustments, has jumped from $28.7 billion in 2009 to $34.5 billion in 2015.
Have a look:
Morgan Stanley
Late last year, news broke that Morgan Stanley would cut about 25% of its FICC headcount. Those layoffs started to take place in December.
Earlier this year, Greg Fleming, the president of the prized wealth management business, departed the firm. Executive Colm Kelleher took over as sole president of the firm.
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