Morgan Stanley (MS) Q1 2024 Earnings Conference

By / / Morgan Stanley

The following is a summary of the Morgan Stanley (MS) Q1 2024 Earnings Call Transcript:

Financial Performance:

  • In Q1 2024, Morgan Stanley reported revenue of $15 billion, yielding earnings per share of $2.02 with an efficiency ratio of 71%.
  • Wealth Management and Institutional Securities revenues stood at $6.9 billion and $7 billion respectively.
  • Investment banking revenues rose 16% from last year, reaching $1.4 billion for the quarter.
  • Net new asset growth rose by $95 billion.
  • The CET1 ratio decreased by 0.14% from the previous quarter to 15.1%.
  • The company repurchased $1 billion of common stock during Q1.

Business Progress:

  • Growth in client assets, totaling $7 trillion, indicates strong momentum across Wealth and Investment Management.
  • The company is increasing its investment in cloud infrastructure to support growth and the development of its AI platform.
  • Strategic hires are being made in M&A and technology is being upgraded to improve client services.
  • A stated focus on the income statement aims to deliver earnings growth and generate returns on capital.
  • Morgan Stanley has reiterated an efficiency ratio goal of 70% for 2024 and reported 71% for Q1.
  • The firm reported progress towards strategic goals and is investing particularly in human capital.
  • Growth is seen in their family office offering and the firm plans for future expansion in equity markets, capital markets, and structured products.
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