Morgan Stanley reverses ’11 loss

Bank recovers from costly settlement, earns $867 million in quarter

Posted: January 19, 2013 at 1:53 a.m.

Pedestrians pass Morgan Stanley’s headquarters in New York. The investment bank on Friday reported a quarterly profit of $867 million, up a from a loss of $374 million a year ago.

Profits roared back at the investment bank Morgan Stanley in the fourth quarter, reversing a loss in the same period a year ago, when its results were weighed down by a costly legal settlement.

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Business, Pages 34 on 01/19/2013