Morgan Stanley reports first quarter 2023 net revenues of $14.5 billion, net income of $3.0 billion, EPS of $1.70 and ROTCE of 16.9%.
Institutional Securities net revenues of $6.8 billion reflect strong performance in Equity and Fixed Income despite a less favorable market environment compared to a year ago and lower results in Investment Banking.
Wealth Management attracted significant net new assets of $110 billion during the quarter. Net revenues were $6.6 billion, and the business delivered a pre-tax margin of 26.1%.
Investment Management results reflect net revenues of $1.3 billion on AUM of $1.4 trillion amid declines in asset values from a year ago.