Morgan Stanley booked a $911m loss within its equities unit on losses related to a single client, the latest large investment bank to reveal a hit in the unit after the collapse of hedge fund Archegos Capital.

Despite posting a 17% rise in revenues within its equities trading business, which houses its prime broking unit, Morgan Stanley said its numbers included a $644m loss "related to a credit event for a single prime brokerage client", and a subsequent $267m trading loss.