Morgan Stanley's Katherine Wetmur on Tech Investment, Covid-19 Response
As 'years' of tech investment pays off amid the coronavirus pandemic, Morgan Stanley eyes tools that can help it identify business process efficiencies.
Last week, Morgan Stanley posted lower year-on-year net revenue and net income for its first quarter that ended March 31, 2020—$9.5 billion and $1.7 billion, respectively. However, chairman and CEO James Gorman said the firm navigated the quarter well in the face of the coronavirus pandemic.
“We’ve benefited in this period from robust business planning and from years of investment in our technology infrastructure,” Gorman said during the bank’s first-quarter 2020 earnings call on April 16.
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