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Morgan Stanley keeps cutting costs as revenue growth stays elusive

More cost cuts are on the way at Morgan Stanley, but it will take time for them to be reflected in earnings, says Morgan Stanley chief financial officer Jonathan Pruzan.

New York

HAVING searched high and low for revenue growth with little success, Morgan Stanley is taking a hatchet to costs.

The bank cut total expenses by 14 per cent last quarter, results released on Monday showed. This followed an even sharper decline the prior period when it...

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