NewsMV
SpaceX underwriting and a broader new-issue slate funneled $74 billion into Morgan Stanley's (MS) wealth management unit in the second quarter.
The print makes the case that a deal mandate is worth more than the underwriting fee alone. The after-party dynamic The connection runs through what happens after a new issue closes.
Running the books on a deal puts Morgan Stanley in the room when participants need to manage fresh capital, and the wealth management arm is positioned to capture that business.
The $74 billion figure is how much of it landed in Q2. That model depends on deal flow staying active. A quarter with few new issues creates fewer occasions to introduce the wealth arm to a new cohort of clients.
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