Morgan Stanley at Barclays Global Financial Services Conference Transcript

Sep 13, 2022 / 03:15PM GMT
Unidentified Analyst

Next up, very pleased to have Morgan Stanley with us. From the company, Andy Saperstein, who is Co-President and Head of Wealth Management. And Andy, we especially like you making the trip, I know you had elective surgery late last week. So we appreciate you still making an effort to be here.

Before we jump in, I should note, [Leslie] asked me to do this. This discussion may include forward-looking statements, which reflect Morgan Stanley management's current estimates and subject to risks and uncertainties that may cause actual results to differ materially. Morgan Stanley does not undertake to update the forward-looking statements. This discussion, which is incorporated by Morgan Stanley and may not be duplicated or reproduced without their consent, is not an offer to buy any security.

So before we kick it off, Andy, as I mentioned, Co-President and Head of Wealth Management. Wealth Management generated almost $6 billion of revenues in the second quarter, almost 45% of the company's revenue. So it's a big business. And just to think of it in perspective, in terms of revenues

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