By AnnaMaria Andriotis
Morgan Stanley's chief executive, Ted Pick, said some clients are putting deals on hold but not canceling them, and he is still optimistic that recession can be avoided.
"Largely what we're seeing is some folks still going, but the others pausing. They're not deleting-they're pausing," Pick said during the bank's earnings call.
Morgan Stanley hasn't seen a dealmaking slowdown in the first few weeks of the second quarter, he said. "Is it bumpier for some clients? Of course it is," Pick said. "But we are still, I will call it, cautiously optimistic that we won't go into recession."
When pressed on his optimism by an analyst, Pick cautioned that if markets become more complicated over the next three to four months, deals may move from pause to delete. He said the firm will have more clarity midyear, "when we see how the economy is reacting to all of the discussions and issues on the table."
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(END) Dow Jones Newswires
April 11, 2025 11:52 ET (15:52 GMT)
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