Morgan Stanley's global wealth management arm reported a $55m (€38.3m) quarterly loss, against a backdrop of the whole bank losing a total of $2.2bn over the last quarter, as growth was stifled and investor confidence dampened by unprecedented market turmoil.

In the latest three month period, net revenues for the holding company were $1.8bn, compared with a loss of $400m in the fourth quarter of last year.

Tara Loader Wilkinson

Morgan Stanley

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Morgan Stanley wealth posts $55m loss

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