"This is not Morgan Stanley's finest hour," said Octavio Marenzi, CEO of capital markets consultancy Opimas. "In wealth management, Morgan Stanley's revenues were down 6%, while competing firms were able to eke out single-digit growth. In equities trading, Morgan Stanley was even further behind the competition, with flat revenues where other investment banks were able to benefit from market volatility and show double-digit growth." Morgan Stanley shares dropped 5.4 percent to $42.12 at 9:52 a.m. Under Chief Executive Officer James Gorman, Morgan Stanley has built out its wealth management division, a steadier ... (full story)