**Morgan Stanley has returned to profit after three quarterly losses in a row, with net income of $757m (£457m) in the July to September period.**Investment banking did well, it said, with underwriting revenues up 74%.
The news comes two days after the US bank agreed to sell its retail asset management business to investment manager Invesco in a deal worth $1.5bn.
The sale of the loss-making division will allow it to focus more on its institutional clients.