Morgan Stanley · NYSE:MS
Morgan Stanley — Corporate Update (November 2004)
18 slides from Morgan Stanley's corporate update, Nov 4, 2004
Slide 1: Europe Update
Europe Update November 4, 2004 0
Slide 2: Table of Contents
Table of Contents • European Overview • European Markets This slide is part of a presentation by Morgan Stanley and is intended to be viewed as part of that presentation. The presentation is based on information generally available to the public and does not contain any material, non-public informat
Slide 3: European Overview
European Overview This slide is part of a presentation by Morgan Stanley and is intended to be viewed as part of that presentation. The presentation is based on information generally available to the public and does not contain any material, non-public information. The presentation has been prepared
Slide 4: Our European Business
Our European Business Full Line of Financial Services Morgan Stanley Individual Consumer Investment Institutional Banking Investor Management Securities Group Group Private Equity Fixed Investment Wealth Equity Research Income Banking Mgmt Global Capital Markets Mergers, Securitized Banking Real Est
Slide 5: European Revenue Trends
European Revenue Trends Morgan Stanley European Revenues vs. MSCI Index Performance Revenues MSCI Closing ($MM) Value 6,000 1,600 5,000 1,400 1,200 4,000 1,000 3,000 800 2,000 600 400 1,000 200 0 0 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 Europe MSCI Notes: MSCI data from MSCI; av
Slide 6: European Revenues
European Revenues 1997 and 2003 Global and European Revenues 1997 2003 Europe Europe 12% 20% Other Int’l 6% Other Int’l 9% Global Revenues $14.8Bn Global Revenues $20.9Bn European Revenues $1.8Bn European Revenues $4.1Bn Source: Morgan Stanley 10K Filings This slide is part of a presentation by Morg
Slide 7: Historical Market Positioning
Historical Market Positioning 2000–2004YTD Total Number of Years in Top 3 Market Share Position European Primary Debt and Equity Issuance, Announced M&A Deals ≥ $100MM 9 9 9 4 4 5 5 4 3 1 3 3 3 4 5 1 1 2 4 3 3 1 2 2 2 2 1 1 Goldman Morgan Deutsche Merrill CSFB UBS JPM Citi BarCap Lazard Sachs Stanle
Slide 8: Morgan Stanley's Growth in Europe
Morgan Stanley’s Growth in Europe European Revenues ($MM) Phase 4: Phase 3: “Premier” Firm 5,000 Build-up 4,000 3,000 Phase 2: Expansion 2,000 Phase 1: 1,000 Start-up 0 1977 1979 1981 1983 1985 1987 1989 1991 1993 1995 1997 1999 2001 2003 2005 Source: Morgan Stanley 10-K filings and Annual Reports.
Slide 9: European Markets
European Markets This slide is part of a presentation by Morgan Stanley and is intended to be viewed as part of that presentation. The presentation is based on information generally available to the public and does not contain any material, non-public information. The presentation has been prepared
Slide 10: Size Matters
Size Matters Key Statistics U.S. EU-25 Population (000s) 293,028 452,700 Area (Km²) 9,631,418 3,972,866 GDP ($Bn) 10,980 9,613 GDP Growth (%) 3.1 2.2 Inflation (%) 2.1 2.0 Unemployment (%) 6.2 9.0 Source: Eurostat (GDP as of 2003, all others as of 2004) / U.S. figures as of June 2004 This slide is p
Slide 11: Secular Drivers
Secular Drivers Morgan Stanley – Secular Trends Lead with Strengths • Globalization • Long-term Client Relationships • Deregulation • Expertise / Product Capability / • Pension Reform Advice / Distribution • Shareholder Focus • Deep Roots in Local Markets • Disintermediation • Global Platform • Sear
Slide 12: Equity Market Capitalization vs. GDP
Equity Market Capitalization vs. GDP Equity Market Cap vs. GDP $Tr Mkt cap / GDP % 16,000 14,916 US 143% 14,000 EU-25 52% 12,000 10,446 UK 150% 9,613 Germany 46% 10,000 France 127% 8,000 Spain 84% 6,000 4,949 4,000 2,505 1,666 2,198 1,646 2,095 2,000 1,013 903 760 0 US EU-25 UK Germany France Spain
Slide 13: Growth of Exchanges
Growth of Exchanges Total Value of Share Trading $Bn 9,541 1,627 8,697 1,503 1,020 7,836 7,657 6,929 634 655 939 1,082 6,829 635 444 823 694 5,975 539 506 4,559 487 4,520 4,001 3,624 4,009 3,399 3,809 341 2,888 203 2,834 157 1,989 1,842 2,194 103 2,120 62 87 1,413 1,340 1,988 1,905 1,840 1,108 1,153
Slide 14: European Debt Market
European Debt Market Annual European Bond Issuance $Bn 1,200 1,000 EMU (1) Deutsche 800 Telekom (2) 600 400 200 0 1999 2000 2001 2002 2003 2004YTD Total Euro-Denominated Bonds Euro-Denominated Investment Grade Bonds Source: Thomson as of September 24, 2004. Notes: (1) EMU market the beginning of a m
Slide 15: European Securitization Market
European Securitization Market European Securitization Issuance Total Yearly New $MM MSCI Closing Issue Volume Value 250,000 1,600 1,400 200,000 1,200 150,000 1,000 800 100,000 600 400 50,000 200 0 0 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 Securitizations MSCI Source: Thomso
Slide 16: Strategic Opportunities
European Strategic Opportunities • Multi-asset class products and services • Hedge funds • Middle markets • Financial institutions • Local investment / “deep roots” • Russia This slide is part of a presentation by Morgan Stanley and is intended to be viewed as part of that presentation. The presenta
Slide 17: Focus on Europe
Focus on Europe This slide is part of a presentation by Morgan Stanley and is intended to be viewed as part of that presentation. The presentation is based on information generally available to the public and does not contain any material, non-public information. The presentation has been prepared s
Slide 18: Europe Update
Europe Update November 4, 2004 17