MS FICC = Sinking Ship?
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?
would be interested in hearing about this, too.
Read Bloomberg news with more attention - most of their hires are recent, they aren't rolling at full steam yet - this could be one of the explanations. MS is a great franchisee, I don't think the crisis took it away from them (unless they fired their core people in 09).
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 regard MS as 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
Quas quidem impedit vel ut sunt fuga numquam sapiente. Minus neque autem dolorem a reiciendis. Dolore quaerat quod qui voluptatem. Sit quia sunt ex magnam.
Sit quia quia consequatur similique sint assumenda sunt. Odit nam sed quia sit. Autem at fugiat ipsa qui. Illum harum tempora velit alias porro incidunt. Laboriosam dignissimos veniam eum recusandae quibusdam. Et doloribus voluptatem blanditiis quidem veritatis magnam.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...