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Morgan Stanley dealmaking fees surge 51%, helping beat market predictions

A sharp jump in debt underwriting fees has fuelled growth in its investment bank

Ted Pick, chief executive of Morgan Stanley, said the outlook for capital markets was improving
Ted Pick, chief executive of Morgan Stanley, said the outlook for capital markets was improving Photo: Bloomberg via Getty Images

Morgan Stanley capped off a positive second quarter earnings season for major Wall Street banks with a 51% jump in dealmaking fees as its debt underwriting business surged.

Investment banking fees of $1.6bn in the second quarter beat market expectations, thanks largely to a 71% increase in debt capital markets revenue to $675m.

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