Morgan Stanley · NYSE:MS
Morgan Stanley — Q4 2009 Earnings Presentation
10 slides from Morgan Stanley's earnings presentation, Mar 11, 2010
Slide 1: Morgan Stanley Fourth Quarter 2009 Overview
Free Writing Prospectus Dated March 11, 2010 Registration Statement No. 333-156423 Filed Pursuant to Rule 433 Morgan Stanley Fourth Quarter 2009 Overview March 2010
Slide 2: Notice
Notice The information provided herein may include certain non-GAAP financial measures. The reconciliation of such measures to the comparable GAAP figures are included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2009 and Current Reports on Form 8-K, including any amen
Slide 3: Index
Index Consolidated Financial Highlights Institutional Securities Asset Management Global Wealth Management Group Firmwide Real Estate Investments Prudent Capital and Risk Management Funding Diversification 3 This slide is part of a presentation by Morgan Stanley and is intended to be v
Slide 4: Consolidated Financial Highlights
Consolidated Financial Highlights (2) 4Q09 Net Revenues of $6.8 Bn 4Q09 Highlights Business Mix 4Q09 Net Revenues ($Bn) 6.8 Asset Management Equities PBT ($Bn) 0.64 7% 11% Net Income Applicable to MS ($Bn) 0.62 Fixed (3) 14% Income Global Diluted EPS from Continuing Operations ($) 0.14 Wealth Manage
Slide 5: Institutional Securities
Institutional Securities Net Revenue 4Q 2009 Highlights - ($MM) Investment Banking delivered strong results 4,975 #1 in Global Announced and Completed 130 1,039 M&A Securing the top spot in both the 3,237 2,965 Americas and Europe 1,073 72 1,600 148 Revenues of $3.2 billion included approxim
Slide 6: Global Wealth Management Group
Global Wealth Management Group Net Revenue 4Q 2009 Highlights - ($MM) Revenue of $3.1bn in line with retail environment Full year JV integration costs were $280 million 3,139 Full year JV closing costs $221 million mostly 3,029 146 related to FA replacement awards 168 320 356 $231 million PB
Slide 7: Asset Management
Asset Management Net Revenue (4) 4Q 2009 Highlights - ($MM) Core business(2) – Net revenues of $357million represent the business’ fourth consecutive 510 profitable quarter 447 Merchant Banking – Net revenues of $153 million 358 106 22 21 were driven by gains in principal investments Total ass
Slide 8: Firmwide Real Estate Investments
Firmwide Real Estate Investments (1) Total Real Estate Investments of $3.7bn 6.0 1.6 Notable Points 0.2 0.5 3.7 Decrease driven by conveyance of Crescent's assets to its third party lender 1.5 in full satisfaction of its approximately $2 billion outstanding loan in November 0.2 3.7 0.5 2009. 1.5 3
Slide 9: Prudent Capital and Risk Management
Prudent Capital and Risk Management Industry appropriate capital ratios Capital Tier 1 Capital: 15.3%(1) Tier 1 Common: 8.2%(1) Diversified and stabilized funding sources Funding Bank Deposits of $54Bn ($112.5Bn in MSSB)(2) Issued non-guaranteed long-term debt Disciplined risk taking R
Slide 10: Funding Diversification
Funding Diversification Composition of Funding Liabilities and Equity Shareholders’ Equity Shareholders’ Equity 12% 9% Deposits Long-term Debt 39% Deposits 13% 12% 44% Long-term Debt 29% 1% Secured 2% 39% Commercial Paper Funding & other short term Commercial Paper Secured borrowings & other short t