Thanks to the red-hot pace of mergers and acquisitions, Morgan Stanley investment bankers posted their best quarterly performance in history.

According to Morgan Stanley's statement, the division's third-quarter revenue rose 67% to $2.85 billion, exceeding analysts' expectations and helping to boost the company's overall profitability. Revenue from stock trading rose 24% to $2.9 billion.

Dongfeng, which has boosted by mergers and acquisitions and trading activity, has made a lot of money since the outbreak. Now, as deal activity slows and investment bankers take over, booming capital markets and M & An advice have brought them record commissions.

Bank of America Corporation said earlier on Thursday that third-quarter results were boosted by rising revenue from the M & A trading division. JPMorgan Chase & Co also said on Wednesday that his M & A business had its best quarterly performance.

The income of Bank of America Corporation's consulting department surged 65% in the third quarter to a record $654 million. Income from the investment banking division rose 23 per cent to $2.2 billion.

The sales and trading division also had some bright spots in the quarter, with revenue rising 9 per cent year-on-year to $3.6 billion, mainly boosted by revenue from the equity trading division, which rose 33 per cent to $1.6 billion.

Morgan Stanley's investment banking income exceeded the average expectation of $2.1 billion. Consulting income more than tripled to $1.27 billion, while equity underwriting income rose 16 per cent to $1 billion.

Revenue from the trading division reached $4.52 billion, up from $4.27 billion in the third quarter of last year.