Home » General World News » Morgan Stanley’s CEO let it slip just how many billions the bank is spending on tech (MS)

Morgan Stanley’s CEO let it slip just how many billions the bank is spending on tech (MS)





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  • Morgan Stanley is spending billions both to bolster its existing technology infrastructure and to invest in new technologies.
  • Specifically, the bank’s tech spend is about $4 billion per year, CEO James Gorman said.
  • As a percentage of its overall expenses, Morgan Stanley devotes twice the amount to tech spend as Citi.

Morgan Stanley is spending around $4 billion annually to invest in technology, CEO James Gorman said on Tuesday.

That’s around 40% of the firm’s $10.3 billion expense budget excluding compensation costs in 2017. Still, it’s not clear if the figure Gorman mentioned includes compensation for tech employees. As read more >>>

Source:: BusinessInsider.Com

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