Morgan Stanley · NYSE:MS
Morgan Stanley — Q4 2023 Earnings Presentation
13 slides from Morgan Stanley's earnings presentation, Jan 16, 2024
Slide 1: Morgan Stanley: Driving the Integrated Firm
Morgan Stanley: Driving the Integrated Firm Ted Pick, Chief Executive Officer January 16, 2024
Slide 2: Notice
Notice 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, De
Slide 3: Morgan Stanley: 15 Years of Transformation
Morgan Stanley: 15 Years of Transformation 2009 – 2014 (1) (2) 2015 – 2019 (1) (2) 2020 – 2022 (1) 2023 48% 50% 51% 58% Revenue $31Bn $38Bn $54Bn $54Bn Mix 52% 50% 49% 42% 39% 47% 43% 62% $6Bn $10Bn $16Bn $12Bn Profitability Mix (3) 61% 53% 57% 38% Institutional Securities Wealth and Investment Mana
Slide 4: Wealth and Investment Management Delivering Durability and Growth
Wealth and Investment Management Delivering Durability and Growth #1 Industry Leader (1) >$6 Trillion in Total Client Assets Net Revenues ($Bn) (2) Client Assets ($Tn) 6.6 32 20 15 2.8 1.9 2010 2018 2023 2010 2018 2023 The End Notes are an integral part of this Presentation. See slides 10-12 at the
Slide 5: Institutional Securities Delivering Durability and Growth
Institutional Securities Delivering Durability and Growth With Strategy for Leading Wallet Share Positions Revenue Growth Across Global Businesses (1) Across the Integrated Investment Bank (2) Net Revenues ($Bn) 23 21 ~20% Equities 18 Investment ~15% Banking ~10% Fixed Income 2010 2018 2023 Americas
Slide 6: The Integrated Firm
Morgan Stanley: The Integrated Firm Integrated Coverage Model Areas of Focus Corporates Advising Premier Corporate Footprint: Strategy to Workplace Solutions Asset Serving Self-Directed to Ultra High Net Individuals Managers Worth with Institutional Capabilities Delivering Integrated Client Value Ac
Slide 7: Human Capital: The Morgan Stanley Partnership
Human Capital: The Morgan Stanley Partnership James Gorman, Executive Chairman Ted Pick, Chief Executive Officer Andy Saperstein, Co-President Dan Simkowitz, Co-President Firm Operating Committee 12 21 Years Leaders Avg. Length of Service Firm Management Committee 36 21 Years Leaders Avg. Length of
Slide 8: Financial Capital: Morgan Stanley's Deliberate Capital Strategy
Financial Capital: Morgan Stanley’s Deliberate Capital Strategy Steady Decline in SCB Peak-to-Trough Strong Dividend Growth SCB, ex-Dividend Add-On (%) (1) 4Q Dividend Per Share ($) (2) 0.85 5.1% 0.775 4.7% 0.70 4.6% 4.1% 0.35 0.10 0.05 2020 2021 2022 2023 2010 2014 2020 2021 2022 2023 The End Notes
Slide 9: The Long-Term Value Proposition
Morgan Stanley: The Long-Term Value Proposition Firmwide Goals (1) Client Assets $10 Trillion + WM Pre-Tax Margin 30% Efficiency Ratio 70% ROTCE 20% The End Notes are an integral part of this Presentation. See slides 10-12 at the back of this presentation for information related to the financial met
Slide 10: End Notes
End Notes 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 transparency a
Slide 11: End Notes
End Notes These notes refer to the financial metrics and/or defined terms presented on Slide 3 1. Financial statement data and metrics presented are based on an average of previously reported numbers across the stated years. 2. Net revenues and income from continuing operations before income taxes (
Slide 12: End Notes
End Notes These notes refer to the financial metrics and/or defined terms presented on Slide 3 5. Return on average tangible common equity (‘ROTCE’) metrics are based on reported figures. ROTCE utilizes net income applicable to Morgan Stanley less preferred dividends as a percentage of average tangi
Slide 13: Morgan Stanley: Driving the Integrated Firm
Morgan Stanley: Driving the Integrated Firm Ted Pick, Chief Executive Officer January 16, 2024