Morgan Stanley may further 'optimize' commodities business: CEO
NEW YORK (Reuters) - Morgan Stanley (MS.N) Chief Executive James Gorman said the bank may "optimize" more of its commodities business as it aims for higher shareholder returns.
Speaking on a call with analysts to discuss third-quarter results on Friday, Gorman said the bank is looking for ways to improve earnings and return-on-equity beyond previously announced plans.
"We believe we remain well positioned for further capital actions given the magnitude of our fundamental strategic change and our improving earnings profile," he said.
(Reporting by Lauren Tara LaCapra; Editing by Chizu Nomiyama)
