Banks had a great 2021, and Morgan Stanley was no exception. The bank posted record net revenues (up 23%) and net income (up 37%) for the year, and its wealth management division added $1 trillion to client assets. Morgan Stanley also advised on several significant and big-ticket mergers this year, including Canada Pacific Railway’s $31 billion acquisition of Kansas City Southern to help create a Canada-U.S.-Mexico rail network. (The deal’s final approval was pending regulatory review as of May 2022.) The rate of mergers and acquisitions dropped significantly in the first few months of 2022, however, as geopolitical concerns and inflation left investors and corporate leaders feeling skittish.
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