Morgan Stanley profit jumps on strong brokerage

Morgan Stanley posted a 60 percent increase in fourth-quarter profit, helped by rising revenue in its retail brokerage business.

Morgan Stanley, the second-largest U.S. investment bank, said fourth-quarter shareholder profit was $600 million, or 41 cents a share, compared with $376 million, or 29 cents a share, in the same quarter last year.

(Reporting by Dan Wilchins; editing by John Wallace)