Morgan Stanley · NYSE:MS
Morgan Stanley — Debt Investor Presentation (November 2017)
11 slides from Morgan Stanley's debt investor presentation, Nov 3, 2017
Slide 1: Morgan Stanley Fixed Income Investor Call
Morgan Stanley Fixed Income Investor Call November 3, 2017
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, Definitive Proxy Statement, Quarterly Reports on Form 10-Q and the Company’s Current Re
Slide 3: Agenda
Agenda Business Update Section 1 Liability Management Section 2 Liquidity Management Section 3 Capital Position Section 4 MORGAN STANLEY FIXED INCOME INVESTOR CALL | NOVEMBER 3, 2017 3
Slide 4: Business Performance Update
1 Business Performance Update On Track to Achieve 9-11% ROE in 2017 Revenue Growth Expense Discipline Improving Profitability Firm Net Revenues(1) ($Bn) Expense Efficiency Ratio(2) (%) Return on Avg. Common Equity (%)(3) 28.4 74.2 9.8 72.1 25.6 7.7 14.3 12.8 3Q16 YTD 3Q17 YTD 3Q16 YTD 3Q17 YTD Conse
Slide 5: Diversified and Durable Funding Mix
2 Diversified and Durable Funding Mix Increased Unsecured Borrowings to Simplify the Balance Sheet and Add Flexibility Morgan Stanley Liabilities and Equity 3Q17 Core Funding Highlights ($Bn) 854 Secured 815 Deposits Funding • Well established • Primarily sweep governance framework deposits sourced
Slide 6: Unsecured Borrowings: Primary Source of Funding
Unsecured Borrowings: Primary Source of Funding Unsecured Debt Issuance and Maturities(1) ($Bn) 3Q17YTD Highlights 45 42 38 34 • Issued $45Bn in 2017YTD with net positive 34 30 issuance 28 22 Diversified across structure, currency, tenor and distribution channels Continue to issue majority from
Slide 7: Diversifying Bank Funding Profile
Diversifying Bank Funding Profile Core Deposit Franchise Supports Further Growth in Bank Lending U.S. Banks Deposit Funding Mix(1) Highlights ($Bn) Attractive Deposit Characteristics Wealth Management Strategic value – critical component of full service Sourced Deposits Wealth Management offering
Slide 8: Firm Secured Funding Framework
Firm Secured Funding Framework Four Pillars of Secured Funding Ensure Durability Overview Criteria(1) Significant • Criteria-based model for term funding 1 Weighted Average consistent with liquidity profile of • WAM for less-liquid assets > 120 days Maturity (“WAM”) underlying assets Maturity Limit
Slide 9: Global Liquidity Position
3 Global Liquidity Position Sized to Ensure Adequate Resources Across a Range of Stressed Scenarios Global Liquidity Reserve High Quality Liquid Assets Period End GLR ($Bn) Period End HQLA ($Bn) 202 198 197 205 188 190 186 184 79 75 66 78 67 77 73 73 124 122 121 113 112 111 131 127 4Q16 1Q17 2Q17 3Q
Slide 10: Strong Risk-Based and Leverage Ratios
4 Strong Risk-Based and Leverage Ratios 3Q17 Pro Forma Fully Phased-In Common Equity Tier 1 Ratio vs. Peers (%)(1) Pro Forma Fully Phased-In U.S. Supplementary Leverage Ratio (%)(1) 16.3% 6.5% 6.2% 13.8% 13.7% 13.2% 13.1% 13.0% 12.5% 5.8% 11.9% 11.7% 4.7% MS DB UBS CS BARC C JPM BAC GS 4Q14 4Q15 4Q1
Slide 11: Morgan Stanley Fixed Income Investor Call
Morgan Stanley Fixed Income Investor Call November 3, 2017
Morgan Stanley — Debt Investor Presentation (November 2017) on 6ix