Morgan Stanley states commitment to build deposits

NEW YORK (MarketWatch) — Morgan Stanley , which earlier this year converted into a bank holding company from an investment bank, said on Wednesday that it plans to focus efforts on building deposits, using its 8,500 financial advisors to spread the word to customers about its banking business. The company said it’s raised $3 billion in certificates of deposit in the last four weeks. It said that at August 31 its deposits totaled $36 billion. The bank added in a press release that it will, “continue to expand its offering of traditional banking products and would explore both organic and acquisition opportunities

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Original post by Forextvblog

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