19.07.2013 - Morgan Stanley CEO: No plans to leave commodity business
Morgan Stanley CEO James Gorman said that hes encouraged by Merrill Lynchs higher profit margin: Its great news, because its proof positive that doubling up in this space was a smart thing to doI always like to see somebody out there whos setting a higher bar as a demonstration of what can be done. On the banking industry, Gorman said, I think things are pretty rational right now to be honest. Ive been in and around the industry for 25 years. It is a sober environment that we operate in. The leadership of the banks, all of whom I know pretty well, are very sober quality professional people. I dont see a lot of holes at the large institutions in terms of rational behavior at all...............................................Full Article: Source
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