Morgan Stanley was boosted by its wealth management unit as the ongoing deal drought has taken its toll on Wall Street’s dealmakers. The lender’s wealth management business added net new assets of $282bn in 2023, growing 7%, according to results published on 16 January. Investment banking revenue, meanwhile, tanked from 13% to $4.6bn as deal activity has remained in
The anticipated US interest-rate cuts, the Hong Kong government’s measures to attract family offices and the coming investment migration scheme will attract investors to yuan-denominated assets this year, according to a senior executive at Standard Chartered Bank. The lender, one of the three note-issuing banks in the city, believes the Federal Reserve will start cutting
For long-term wealth creation in India, investing in mutual funds through SIPs (Systematic Investment Plans) has become one of the most prevalent and successful strategies. SIPs give investors the ability to systematically accumulate wealth by allowing them to invest a certain amount into the mutual funds of their choice at frequent intervals, usually every month.