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Morgan Stanley's third-quarter profit showed a hit from lethargic dealmaking, while shares more than 8% as some analysts pointed to a fall in net new assets in its wealth division and disappointment over the lack of news on succession.
Morgan Stanley announced a drop in net interest income on its Q3 earnings, one of the last before James Gorman is expected to step down as CEO.
The bank's results are expected to reflect the generally tepid environment for investment banking.
Morgan Stanley has been staging a bloodless succession race in which all three candidates stay, but it's unclear whether the bank can hold onto Simkowitz if either of his rivals wins.
The man who cut 25% of Morgan Stanley's fixed income traders has the best job of 2023 (and '24).