Morgan Stanley
Summary
Brief Company Overview
Morgan Stanley (NYSE:MS) is a global financial services firm established in 1935 in the US by J.P. Morgan & Co. partners as a response to the Glass-Steagall Act, which required the splitting of American commercial and investment banking businesses. The firm advises, originates, trades, manages and distributes capital for governments, institutions and individuals. The company was originally incorporated as a Delaware corporation in 1981 and the predecessors of the company can be traced back to 1924.1 During the first year of its operation, Morgan Stanley grabs 24% of market share in underwriting business by handling $1.1 billion in public offerings and private placements.
Morgan Stanley currently employs more than 75,000 employees around the globe in offices in 41 countries as of December 31, 2021. The company has its presence in the Americas, Asia-Pacific, Europe, Middle East & Africa, and Japan. The company has three reportable business segments - Institutional Securities, Wealth Management, and Investment Management.
James Patrick Gorman is the Chairman & CEO of Morgan Stanley. The company has released its 2022 financial results reporting $53.7 billion in revenue, earnings per share (EPS) $6.15 and return on total capital employed 15.3%.
Financial Highlights
Q4'22 Highlights
Morgan Stanley has reported net revenues of $12.7 billion for the fourth quarter ended December 31, 2022 compared with $14.5 billion a year ago. Net income applicable to Morgan Stanley was $2.2 billion, or $1.26 per diluted share, compared with $3.7 billion, or $2.01 per diluted share, for the same period a year ago. The fourth quarter of 2022 was impacted by severance costs of $133 million associated with a December employee action, partially offset by a net discrete tax benefit of $89 million.
