What's going on at MS? FICC Q3 revenues look appauling at $841 million when every other bank so far (C,JPM, BARC,GS) reported $2 billion+ FICC revenues in the same quarter. Morever, MS even made more revenue in Equities than they did in FICC and I haven't heard of any bank doing that for the last 5 years. Any thoughts on what went wrong with MS FICC this quarter?
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Comments (6)
would be interested in hearing about this, too.
ReadBloombergnews with more attention - most of their hires are recent, they aren't rolling at full steam yet - this could be one of the explanations.MSis agreat franchisee, I don't think the crisis took it away from them (unless they fired their core people in 09).
Stay curious
If you think this quarter's figures are bad, go back to the last 7 quarters' - it's one of the primary reasons why I cannot fathom how so many monkeys around here regardMSas a "top tier"BB(well, it's highly preposterous to suggest they're anywhere near top 3 globally outside commodities).
They are by no means a crap bank, but clearly nowhere close to being top tier - not in FICC anyway...
x
bump
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