Morgan Stanley · NYSE:MS
Morgan Stanley — Investor Presentation (January 2022)
21 slides from Morgan Stanley's investor presentation, Jan 19, 2022
Slide 1: Strategic Update
Strategic Update James P. Gorman, Chairman and Chief Executive Officer January 19, 2022
Slide 2: Notice
Notice 2 The information provided herein includes certain non-GAAP financial measures. The definition of such measures and/or the reconciliation of such measures to the comparable U.S. GAAP figures are included in this presentation, or in Morgan Stanley's (the "Company") Annual Report on Form 10-K,
Slide 3: Strong Results in 2021 Against Two-Year Objectives
Strong Results in 2021 Against Two-Year Objectives 3 2021 – 2022 Objectives 2021 Results (Ex-Integration) WM Pre-Tax Margin (3) 26 – 30% 27% Efficiency Ratio (2) 69 – 72% 66% ROTCE (1) 14 ‒ 16% 20% The End Notes are an integral part of this Presentation. See slides 18-21 at the back of this pr
Slide 4: Executing on Growth Objectives
Executing on Growth Objectives Defensible and Sustainable Business Model with Growth Momentum 2 4 Reset Dividend While Maintaining Excess Capital 3 Balanced Business Mix and Achieved Performance Goals 1 Multiple Expansion 4
Slide 5: Transformed Business Mix and Profitability
Transformed Business Mix and Profitability 5 The End Notes are an integral part of this Presentation. See slides 18-21 at the back of this presentation for information related to the financial metrics and defined terms in this presentation Institutional Securities Combined Wealth and Investment Mana
Slide 6: Institutional Securities: Durable and Broad-Based Share Gains
Institutional Securities: Durable and Broad-Based Share Gains 6 The End Notes are an integral part of this Presentation. See slides 18-21 at the back of this presentation for information related to the financial metrics and defined terms in this presentation Share Gains (1)(2)(3)(4) 2 Investment Ban
Slide 7: Connecting the Dots
Connecting the Dots Integrated Investment Bank Drives Operating Leverage and Delivers One Firm 7 2 The End Notes are an integral part of this Presentation. See slides 18-21 at the back of this presentation for information related to the financial metrics and defined terms in this presentation Global
Slide 8: Wealth Management: Scale and Momentum
Wealth Management: Scale and Momentum The End Notes are an integral part of this Presentation. See slides 18-21 at the back of this presentation for information related to the financial metrics and defined terms in this presentation ($Tn) (1) Client Assets 2 Net New Asset Growth 8 (%) (2) 74 98 232
Slide 9: Leader in All Channels
Leader in All Channels 9 The End Notes are an integral part of this Presentation. See slides 18-21 at the back of this presentation for information related to the financial metrics and defined terms in this presentation 2 Top 3 Self-Directed7.4MM Households #1 Advisor-Led~2.5MM Households Top 2 Work
Slide 10: Significant Growth Opportunity in Workplace
Significant Growth Opportunity in Workplace The End Notes are an integral part of this Presentation. See slides 18-21 at the back of this presentation for information related to the financial metrics and defined terms in this presentation 2 10 Build New Relationships Grow Unvested Assets RetainVeste
Slide 11: Investment Management: Premier and Growing Platform
Investment Management: Premier and Growing Platform 2 11 Asset Management Fees ($Bn) (2) The End Notes are an integral part of this Presentation. See slides 18-21 at the back of this presentation for information related to the financial metrics and defined terms in this presentation Assets Under Man
Slide 12: Leader in Key Growth Areas
Leader in Key Growth Areas 12 Customization The End Notes are an integral part of this Presentation. See slides 18-21 at the back of this presentation for information related to the financial metrics and defined terms in this presentation Sustainability AuM ($Bn) (1)(4) AuM ($Bn) (2)(4) 2 Alternativ
Slide 13: Wealth and Investment Management Earnings Enhanced by a Rising Rate Environment
Wealth and Investment Management Earnings Enhanced by a Rising Rate Environment 13 The End Notes are an integral part of this Presentation. See slides 18-21 at the back of this presentation for information related to the financial metrics and defined terms in this presentation Deposits ($Bn) (1) Str
Slide 14: Reset Dividend While Maintaining Excess Capital
Reset Dividend While Maintaining Excess Capital 14 Increased Buyback Annualized Dividend ($) (1) The End Notes are an integral part of this Presentation. See slides 18-21 at the back of this presentation for information related to the financial metrics and defined terms in this presentation Doubled
Slide 15: Reducing Share Count
15 The End Notes are an integral part of this Presentation. See slides 18-21 at the back of this presentation for information related to the financial metrics and defined terms in this presentation Reducing Share Count Shares Outstanding (MM) (2) Expanded Earnings Power Creates Capital Flexibility 3
Slide 16: Multiple Expansion
16 Multiple Expansion Powerful Brands Growth Capital Return Necessary Fundamentals in Place 4 Scale
Slide 17: Executing on Long-Term Value
Executing on Long-Term Value 17 The End Notes are an integral part of this Presentation. See slides 18-21 at the back of this presentation for information related to the financial metrics and defined terms in this presentation Goals (1) WM Pre-Tax Margin 30%+ Efficiency Ratio <70% ROTCE 20%+ 4 Clien
Slide 18: End Notes
End Notes 18 The Firm’s financial presentations, earnings releases, earnings conference calls, and other communications may include certain metrics, including non-GAAP financial measures, which we believe to be useful to us, investors, analysts and other stakeholders by providing further transparenc
Slide 19: End Notes
End Notes 19 These notes refer to the financial metrics and/or defined term presented on Slide 3 Return on average tangible common equity (‘ROTCE’) utilizes net income applicable to Morgan Stanley less preferred dividends as a percentage of average tangible common equity. Average tangible common equ
Slide 20: End Notes
End Notes 20 These notes refer to the financial metrics and/or defined term presented on Slide 8Represents total client assets for Morgan Stanley Wealth Management (‘MSWM’) as of period end. Annualized Net New Assets as % of beginning client assets represents Morgan Stanley’s Net New Assets divided
Slide 21: End Notes
End Notes 21 These notes refer to the financial metrics and/or defined term presented on Slide 12Customization represents Parametric custom portfolios in retail separately managed accounts reported under the “Alternatives and Solutions” category in the Morgan Stanley Fourth Quarter 2021 Financial Su