The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2020 Euromoney, a part of the Euromoney Institutional Investor PLC.
Banking

Morgan Stanley: As good as it gets?

US firm is firing on all cylinders - even if its returns are nothing to write home about

Whichever way you look at it, Morgan Stanley had a successful 2017

In almost every business line, its performance improved. Market shares grew or were maintained. At various points during the year, its market capitalization overtook that of its arch-rival Goldman Sachs, which would have been unthinkable even a couple of years ago.

Chief executive James Gorman always writes out by hand a list of 10 things he wants to achieve in the year ahead. You suspect that, as the year drew to a close, sitting in his office high above New York’s Times Square, he put a tick in the margin against most of those aims for 2017. 

Investors seem to like what they are seeing too. Morgan Stanley’s share price is up around 20% on the year, with its market cap nearing the $100 billion mark, trebling in the last five years, and its stock is now trading at 1.3 times book. 

“The stock market is validating our strategy and we are absolutely committed to that strategy,” says Morgan Stanley president Colm Kelleher.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree