CEO of Morgan Stanley James Gorman speaks in New York, May 6, 2014. Morgan Stanley on Tuesday posted second-quarter earnings and revenue that topped analysts' expectations, helped by record wealth management results. Under CEO James Gorman, Morgan Stanley's reliance on wealth management has helped its steady earnings and boosted its valuation relative to peers. The institutional securities business posted an 8% decline in revenue to $5.65 billion, driven by declines in trading. On Friday, JPMorgan Chase , Citigroup and Wells Fargo each posted earnings that topped analysts' expectations amid higher interest rates.

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Persons: Morgan Stanley James Gorman, Morgan Stanley, James Gorman, Morgan, Gorman, Wells Fargo, Goldman Sachs Organizations: Revenue, Wall Street, Investment, KBW, JPMorgan Chase, Citigroup Locations: New York