Morgan Stanley (MS) rejiggers its brokerage unit (MSSB), trimming the number of regional units...

|About: Morgan Stanley (MS)|By:, SA News Editor

Morgan Stanley (MS) rejiggers its brokerage unit (MSSB), trimming the number of regional units (and cutting manager jobs), the second such reduction in less than a year. Profit margins in wealth management are on the rise - from 11% to 12% in the most recent quarter - but are still well short of the company's mid-teens target.