Morgan Stanley posted a 112% sequential increase in net income in the third quarter as strong fixed income results and a change to the bank's compensation scheme helped offset declines in some of its key markets.

Overall net income at Morgan Stanley rose to $1.3bn (€1.13bn) in the third quarter versus $599m in the previous three months and $611m a year ago. Quarterly net income was boosted by $350m because the bank made changes to its equity-based compensation programme during the quarter.

Morgan Stanley boosts income in third quarter

Vivek Ahuja

Morgan Stanley

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