Morgan Stanley · NYSE:MS
Morgan Stanley — Merger or Acquisition (January 2009)
7 slides from Morgan Stanley's merger presentation, Jan 14, 2009
Slide 1: Global Wealth Management Joint Venture: Presentation to Investors
Exhibit 99.2 — offi Morgan Stanley Smith Barney Global Wealth Management Joint Venture Presentation to Investors January 13, 2009
Slide 2: Notice
Notice Statements about the expected effects, timing, benefits, financial and operating results, synergies, cost savings and completion of the joint venture and all other statements in this presentation, other than historical facts, constitute forward-looking statements. Readers are cautioned not to
Slide 3: Transaction Overview
Transaction Overview e Morgan Stanley and Citi combining retail brokerage forces to create an industry-leading global wealth manager — Morgan Stanley will own 51% and Citi will own 49% of the Joint Venture — In addition to 49% of the Joint Venture, Citi to receive cash consideration of $2.7Bn — Morg
Slide 4: Joint Venture Statistics
Joint Venture Statistics” Morgan Stanley Citi Combined Global Wealth Smith Barney Pro-forma Management Net Revenues © $6.4Bn $8.5Bn $14.9Bn Pre-tax Profit © $1.1Bn $1.7Bn $2.8Bn Financial Advisors © 8,426 ~11,960 ~20.390 Client Assets $707Bn, $1,034Bn $1,741Bn Offices 465 S41 1,006 Headquarters New
Slide 5: Strategic Rationale for Joint Venture
Strategic Rationale for Joint Venture e Establish leadership position in Wealth Management — Wealth Management continues to be a very attractive business with longer-term growth potential across the globe — Combination creates an industry-leading global wealth manager with over 1,000 branches in the
Slide 6: Target Expense Efficiencies
Target Expense Efficiencies Target Expense Efficiencies Personnel $320MM IT / Operations $350MM Marketing / Professional Services $180MM Other Expenses $230MM Total $1.1Bn ‘a au patat pees yor carey an Cpe a Mens be Yee reales The Peet sate eh oon tom he copanee 6
Slide 7: Global Wealth Management Joint Venture: Presentation to Investors
o~ off Morgan Stanley Smith Barney Global Wealth Management Joint Venture Presentation to Investors January 13, 2009
Morgan Stanley — Merger or Acquisition (January 2009) on 6ix