Morgan Stanley’s 4Q revenue of $12.9 billion jumps about $150 million from the prior year, with a lift from its institutional securities business leading the way. The bank says institutional securities saw net revenues for the quarter of $4.9 billion compared to $4.8 billion a year earlier, adding that investment banking revenue was up 5% from a year ago. Revenue in its wealth management business was essentially unchanged from a year ago at $6.6 billion, with the company noting that asset management revenues increased from the prior year on higher asset levels and the impact of positive fee-based flows. Investment management revenue at $1.5 billion was largely unchanged from a year earlier, with Morgan Stanley highlighting that asset management and related fees increased from the prior year on higher average assets under management driven by increased asset values.