Wealth Management Legal Costs High at Morgan Stanley

James Gorman, head of Morgan Stanley’s global wealth management unit, said the unit’s legal costs are 7 per cent of revenues – an “unacceptably high” figure. Morgan Stanley recently settled a civil....

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By: Contributing Editor
June 29, 2006
James Gorman, head of Morgan Stanley’s global wealth management unit, said the unit’s legal costs are 7 per cent of revenues – an “unacceptably high” figure. Morgan Stanley recently settled a civil....