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Investment Banking

Morgan Stanley investment bank slides in brutal first quarter for deals

Dealmakers see their fees drop by a quarter as M&A slump bites

'Investment banking activity continued to be constrained,' Morgan Stanley chief executive James Gorman says
'Investment banking activity continued to be constrained,' Morgan Stanley chief executive James Gorman says Photo: Hollie Adams/Getty Images

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Morgan Stanley's investment bank slipped by 11% in the first quarter as the Wall Street giant battled a steep decline in dealmaking fees and a fall in trading revenue.

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