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Morgan Stanley’s Brokerage Bet Makes Gorman Winner Over Corbat

Morgan Stanley Chief Executive Officer James Gorman emerged as this week’s winner among the six biggest U.S. banks after shares of his firm surged on fourth-quarter results that beat analysts’ estimates.

Morgan Stanley rose 8.2 percent since banks began reporting results on Jan. 14 and closed yesterday at a premium to book value for the first time in almost four years. Citigroup Inc., the lender that sold its brokerage operations to New York-based Morgan Stanley after the financial crisis, dropped 2.7 percent since the start of earnings season.