Our Insights
Our Insights
STAY UP TO DATE
- Sign Up For Our Newsletter
- Listen To Our Podcasts
- At Morgan Stanley, we lead with exceptional ideas. Across all our businesses, we offer keen insight on today's most critical issues.
  
  Personal Finance
  
  Learn from our industry leaders about how to manage your wealth and help meet your personal financial goals.
- At Morgan Stanley, we lead with exceptional ideas. Across all our businesses, we offer keen insight on today's most critical issues.
  
  Market Trends
  
  From volatility and geopolitics to economic trends and investment outlooks, stay informed on the key developments shaping today's markets.
- At Morgan Stanley, we lead with exceptional ideas. Across all our businesses, we offer keen insight on today's most critical issues.
  
  Technology & Disruption
  
  Whether it’s hardware, software or age-old businesses, everything today is ripe for disruption. Stay abreast of the latest trends and developments.
- At Morgan Stanley, we lead with exceptional ideas. Across all our businesses, we offer keen insight on today's most critical issues.
  
  Sustainability
  
  Our insightful research, advisory and investing capabilities give us unique and broad perspective on sustainability topics.
- At Morgan Stanley, we lead with exceptional ideas. Across all our businesses, we offer keen insight on today's most critical issues.
  
  Diversity & Inclusion
  
  Multicultural and women entrepreneurs are the cutting-edge leaders of businesses that power markets. Hear their stories and learn about how they are redefining the terms of success.
Featured

Four Standout Investment Themes for 2025

Research

7 Political Trends Investors Should Watch in 2025

Wealth Management

2025 M&A Outlook: 4 Trends Driving an Anticipated Rebound

Investment Banking
What We Do
What We Do
- Morgan Stanley helps people, institutions and governments raise, manage and distribute the capital they need to achieve their goals.
  
  Wealth Management
  
  We help people, businesses and institutions build, preserve and manage wealth so they can pursue their financial goals.
- Morgan Stanley helps people, institutions and governments raise, manage and distribute the capital they need to achieve their goals.
  
  Investment Banking & Capital Markets
  
  We have global expertise in market analysis and in advisory and capital-raising services for corporations, institutions and governments.
- Morgan Stanley helps people, institutions and governments raise, manage and distribute the capital they need to achieve their goals.
  
  Sales & Trading
  
  Global institutions, leading hedge funds and industry innovators turn to Morgan Stanley for sales, trading and market-making services.
- Morgan Stanley helps people, institutions and governments raise, manage and distribute the capital they need to achieve their goals.
  
  Research
  
  We offer timely, integrated analysis of companies, sectors, markets and economies, helping clients with their most critical decisions.
- Morgan Stanley helps people, institutions and governments raise, manage and distribute the capital they need to achieve their goals.
  
  Investment Management
  
  We deliver active investment strategies across public and private markets and custom solutions to institutional and individual investors.
- Morgan Stanley helps people, institutions and governments raise, manage and distribute the capital they need to achieve their goals.
  
  Morgan Stanley at Work
  
  We provide comprehensive workplace financial solutions for organizations and their employees, combining personalized advice with modern technology.
- Morgan Stanley helps people, institutions and governments raise, manage and distribute the capital they need to achieve their goals.
  
  Sustainable Investing
  
  We offer scalable investment products, foster innovative solutions and provide actionable insights across sustainability issues.
- Morgan Stanley helps people, institutions and governments raise, manage and distribute the capital they need to achieve their goals.
  
  Inclusive Ventures Group
  
  From our startup lab to our cutting-edge research, we broaden access to capital for entrepreneurs and spotlight their success.
Featured

Get Matched with a Financial Advisor

Wealth Management

Explore What We Offer

E*TRADE from Morgan Stanley
About Us
About Us
- Since our founding in 1935, Morgan Stanley has consistently delivered first-class business in a first-class way. Underpinning all that we do are five core values.
  
  Core Values
  
  Everything we do at Morgan Stanley is guided by our five core values: Do the right thing, put clients first, lead with exceptional ideas, commit to diversity and inclusion, and give back.
- Since our founding in 1935, Morgan Stanley has consistently delivered first-class business in a first-class way. Underpinning all that we do are five core values.
  
  Leadership
  
  Morgan Stanley leadership is dedicated to conducting first-class business in a first-class way. Our board of directors and senior executives hold the belief that capital can and should benefit all of society.
- Since our founding in 1935, Morgan Stanley has consistently delivered first-class business in a first-class way. Underpinning all that we do are five core values.
  
  History
  
  From our origins as a small Wall Street partnership to becoming a global firm of more than 80,000 employees today, Morgan Stanley has been committed to clients and communities for 89 years.
- Since our founding in 1935, Morgan Stanley has consistently delivered first-class business in a first-class way. Underpinning all that we do are five core values.
  
  Locations
  
  The global presence that Morgan Stanley maintains is key to our clients' success, giving us keen insight across regions and markets, and allowing us to make a difference around the world.
- Since our founding in 1935, Morgan Stanley has consistently delivered first-class business in a first-class way. Underpinning all that we do are five core values.
  
  Diversity
  
  Morgan Stanley is differentiated by the caliber of our diverse team. Our culture of access and inclusion has built our legacy and shapes our future, helping to strengthen our business and bring value to clients.
- Since our founding in 1935, Morgan Stanley has consistently delivered first-class business in a first-class way. Underpinning all that we do are five core values.
  
  Sustainability
  
  Our firm's commitment to sustainability informs our operations, governance, risk management, diversity efforts, philanthropy and research.
- Since our founding in 1935, Morgan Stanley has consistently delivered first-class business in a first-class way. Underpinning all that we do are five core values.
  
  Giving Back
  
  At Morgan Stanley, giving back is a core value—a central part of our culture globally. We live that commitment through long-lasting partnerships, community-based delivery and engaging our best asset—Morgan Stanley employees.
- Since our founding in 1935, Morgan Stanley has consistently delivered first-class business in a first-class way. Underpinning all that we do are five core values.
  
  Technology
  
  As a global financial services firm, Morgan Stanley is committed to technological innovation. We rely on our technologists around the world to create leading-edge, secure platforms for all our businesses.
- Since our founding in 1935, Morgan Stanley has consistently delivered first-class business in a first-class way. Underpinning all that we do are five core values.
  
  Sponsorships
  
  At Morgan Stanley, we believe creating a more equitable society begins with investing in access, knowledge and resources to foster potential for all. We are committed to supporting the next generation of leaders and ensuring that they reflect the diversity of the world they inherit.
Why Us
Why Us
- For 89 years, we’ve had a passion for what’s possible. We leverage the full resources of our firm to help individuals, families and institutions reach their financial goals.
  
  Why Morgan Stanley
  
  At Morgan Stanley, we focus the expertise of the entire firm—our advice, data, strategies and insights—on creating solutions for our clients, large and small.
- For 89 years, we’ve had a passion for what’s possible. We leverage the full resources of our firm to help individuals, families and institutions reach their financial goals.
  
  How We Can Help
  
  We have the experience and agility to partner with clients from individual investors to global CEOs. See how we can help you work toward your goals—even as they evolve over years or generations.
- For 89 years, we’ve had a passion for what’s possible. We leverage the full resources of our firm to help individuals, families and institutions reach their financial goals.
  
  Building a Future We Believe In
  
  At Morgan Stanley, we put our beliefs to work. We lead with exceptional ideas, prioritize diversity and inclusion and find meaningful ways to give back—all to contribute to a future that benefits our clients and communities.
- For 89 years, we’ve had a passion for what’s possible. We leverage the full resources of our firm to help individuals, families and institutions reach their financial goals.
  
  Get Started
  
  Meet one of our Financial Advisors and see how we can help you.
- For 89 years, we’ve had a passion for what’s possible. We leverage the full resources of our firm to help individuals, families and institutions reach their financial goals.
  
  Stay in the Know
  
  Get the latest insights, analyses and market trends in our newsletter, podcasts and videos.
Careers
Careers
- We believe our greatest asset is our people. We value our commitment to diverse perspectives and a culture of inclusion across the firm. Discover who we are and the right opportunity for you.
  
  Students & Graduates
  
  A career at Morgan Stanley means belonging to an ideas-driven culture that embraces new perspectives to solve complex problems. See how you can make meaningful contributions as a student or recent graduate at Morgan Stanley.
- We believe our greatest asset is our people. We value our commitment to diverse perspectives and a culture of inclusion across the firm. Discover who we are and the right opportunity for you.
  
  Experienced Professionals
  
  At Morgan Stanley, you’ll find trusted colleagues, committed mentors and a culture that values diverse perspectives, individual intellect and cross-collaboration. See how you can continue your career journey at Morgan Stanley.
- We believe our greatest asset is our people. We value our commitment to diverse perspectives and a culture of inclusion across the firm. Discover who we are and the right opportunity for you.
  
  Experienced Financial Advisors
  
  At Morgan Stanley, our premier brand, robust resources and market leadership can offer you a new opportunity to grow your practice and continue to fulfill on your commitment to deliver tailored wealth management advice that helps your clients reach their financial goals.
Featured

Explore Our Culture

Careers

Yes, You Can Be a Tech Innovator at Morgan Stanley

Technology

Board of Directors

As of May 15, 2025

Ted Pick

Ted Pick is Chairman and Chief Executive Officer of Morgan Stanley. Before becoming CEO in January 2024 and Chairman in January 2025, Mr. Pick served as Morgan Stanley’s Co-President, Co-Head of Firm Strategy and Head of the Institutional Securities Group, overseeing Investment Banking, Equities, Fixed Income, Global Capital Markets and Research. In previous roles, Mr. Pick was Global Head of Sales and Trading, engineering a turnaround of the firm’s Fixed Income Division. As Head of Institutional Equities, he led that business to a leading global position. He also served as Head of Equity Capital Markets helping the firm actively raise capital during the financial crisis. Mr. Pick joined Morgan Stanley in 1990 and was promoted to Managing Director in 2002. He is a member of the firm’s Operating Committee (2012), Management Committee (2008) and Morgan Stanley-MUFG Steering Committee (2013). Mr. Pick graduated Phi Beta Kappa from Middlebury College (1990) and received an MBA from the Harvard Business School (1994). He is a Trustee at the Metropolitan Museum of Art (2018) and serves on the MET’s Nominating & Governance Committee. Mr. Pick is Chair of the Advisory Board for the Morgan Stanley Alliance for Children’s Mental Health. Additionally, he is a member of The Business Council, the Institute of International Finance, and the Monetary Authority of Singapore International Advisory Panel.

MEGAN BUTLER

Ms. Butler has been a director since May 2024. She served as a former Executive Director of the Financial Conduct Authority (“FCA”) from 2020 to 2022, and was previously the Executive Director of Supervision, Investment Wholesale and Specialists Division of the FCA from 2015 to 2020. From 2013 to 2015, Ms. Butler served as a former Executive Director of International Banks Directorate of the U.K. Prudential Regulation Authority. She previously served as a former Head of Investment Banks Supervision from 2012 to 2013, and Director in the International Banks Division from 2008 to 2012 of the Financial Services Authority. Ms. Butler is currently a member of the Jersey Financial Services Board of Commissioners since June 2023. She also serves as a member of the board of directors of Morgan Stanley subsidiaries, Morgan Stanley & Co. International plc, Morgan Stanley Bank International Limited, and Morgan Stanley International Limited, each since October 2022. Ms. Butler is a qualified lawyer admitted to the Bar of England and Wales and holds a Bachelor of Laws from the University of Sheffield.

Thomas H. Glocer

Mr. Glocer has been a director since May 2013 and Independent Lead Director since September 2017. He served as Chief Executive Officer of Thomson Reuters Corporation, a news and information provider for businesses and professionals, from 2008 through 2011 and as Chief Executive Officer of Reuters Group PLC from 2001 to 2008. He joined Reuters Group PLC in 1993 and served in a variety of executive roles before being named Chief Executive Officer. Mr. Glocer was a mergers and acquisitions lawyer at the law firm Davis Polk & Wardwell LLP from 1984 to 1993. He is the founder and managing partner of Angelic Ventures, LP. Mr. Glocer is also a member of the board of Merck & Co., Inc. and the supervisory board of Publicis Groupe. He is a trustee of the Cleveland Clinic, a director of K2 Integrity Inc., and a member of Foreign Affairs Committee of the Council on Foreign Relations. Mr. Glocer is a graduate of Columbia University and received a Juris Doctor from Yale Law School.

Robert H. Herz

Mr. Herz has been a director since July 2012. He is currently President of Robert H. Herz LLC, providing consulting services on financial reporting matters since September 2010. Mr. Herz serves on the board of Workiva Inc., and is a director of the International Foundation for Valuing Impacts, as well as a member of the Integrated Reporting and Connectivity Council, advising the International Sustainability Standards Board (“ISSB”) and International Accounting Standards Board. Mr. Herz served as a member of the Transition Advisory Group, advising the International Financial Reporting Standards Foundation Trustees and the ISSB from 2022 to 2024, and a director of the Value Reporting Foundation Board from 2021 to 2022 and the Sustainability Accounting Standards Foundation Board from 2014 to 2021. He also served as the Chair of the Financial Accounting Standards Board from 2002 to 2010, a part-time member of the International Accounting Standards Board from 2001 to 2002, member of the Standing Advisory Group of the Public Company Accounting Oversight Board from 2012 to 2020, and on the Accounting Standards Oversight Council of Canada from 2011 to March 2017. Mr. Herz served as a partner with PricewaterhouseCoopers LLP from 1985 until 2002. He currently serves on the advisory boards of AccountAbility and Lukka, Inc., and is also an Advisor to the Executive-in-Residence program at the Columbia University Business School, and trustee emeritus of the Kessler Foundation. Mr. Herz holds a Bachelor of Arts degree in Economics from the University of Manchester, England, and is both a U.S. CPA and an English Chartered Accountant.

Erika H. James

Ms. James has been a director since January 2022. She has served as the Dean of the Wharton School at the University of Pennsylvania since July 2020. From July 2014 to May 2020, Ms. James served as Dean of Emory University’s Goizueta Business School. From January 2012 to July 2014, she served as Senior Associate Dean for Executive Education at Darden School of Business, University of Virginia and was the President of the Institute for Crisis Management, a consulting and research organization for crisis preparedness and response, from November 2012 to June 2014. Ms. James serves on the board of the Philadelphia Orchestra, and is a trustee of the Economic Club of New York and Pomona College. Ms. James holds a Bachelor of Arts degree in psychology from Pomona College and a Doctor of Philosophy in organizational psychology from the University of Michigan.

Hironori Kamezawa

Mr. Kamezawa has been a director since May 2021. He has been President and Group CEO of Mitsubishi UFJ Financial Group, Inc. since April 2020 and Director of MUFG since June 2019. He has served as Director of MUFG Bank, Ltd. since June 2017. He was Deputy President of MUFG from April 2019 to March 2020, and Deputy President of MUFG Bank, Ltd. from April 2019 to March 2020. Mr. Kamezawa was Chief Digital Transformation Officer from May 2017 to March 2020, Chief Operating Officer from April 2019 to March 2020, Chief Information Officer from May 2017 to March 2019, and Chief Data Officer of MUFG from May 2016 to May 2017. Mr. Kamezawa was Deputy CEO of MUFG Americas and Chief Risk Officer for the Americas, based in New York, from May 2014 to May 2016. He has held numerous senior-level positions in Japan since joining The Mitsubishi Bank, Limited (now MUFG Bank Ltd.) in April 1986, including the Global Markets Planning Division and Credit Policy & Planning Division of MUFG Bank, Ltd. Mr. Kamezawa is a graduate of University of Tokyo and received a master’s degree from University of Tokyo Graduate School of Mathematical Sciences.

Shelley B. Leibowitz

Ms. Leibowitz has been a director since October 2020 and formerly served as a member of the E*TRADE board of directors from December 2014 until its acquisition by Morgan Stanley. She is President of SL Advisory, a firm she founded in 2016 that provides advice and insights in innovation and digital transformation, information technology portfolio and risk management, digital trust, performance metrics, and effective governance. From 2009 to 2012, Ms. Leibowitz served as Group Chief Information Officer for the World Bank. Previously, Ms. Leibowitz held Chief Information Officer positions at Morgan Stanley, Greenwich Capital Markets, Barclays Capital, and Investment Risk Management. Ms. Leibowitz is currently a director of BitSight, a cyber risk management firm, Elastic N.V. and the New York Board of the National Association of Corporate Directors, and also serves as a member of the Council on Foreign Relations. Ms. Leibowitz graduated Phi Beta Kappa from Williams College with a Bachelor of Arts degree in Mathematics.

Jami Miscik

Ms. Miscik has been a director since November 2014. She is currently the CEO of Global Strategic Insights, a private consulting firm focused on advising on geopolitical issues, since July 2022. She previously served as the CEO and Vice Chair of Kissinger Associates, Inc., a New York-based strategic international consulting firm that assesses and navigates emerging market geopolitical and macroeconomic risks for its clients from March 2017 to June 2022, served as Co-CEO and Vice Chair of Kissinger from 2015 to 2017 and as President and Vice-Chair of Kissinger from 2009 to 2015. Ms. Miscik was the global head of sovereign risk at Lehman Brothers from 2005 to 2008, served at the Central Intelligence Agency from 1983 to 2005, including as Deputy Director for Intelligence from 2002 to 2005. She served as a Co-Chair of the President’s Intelligence Advisory Board from 2014 and 2017 and as a Senior Advisor for Geopolitical Risk at Barclays Capital. Ms. Miscik holds a Bachelor of Arts degree in Political Science and Economics from Pepperdine University, a master’s degree from the University of Denver's Josef Korbel School of International Studies, and an honorary doctorate in public service from the University of Denver. She is a member of the board of General Motors and HP Inc. and is also a Vice Chair of the Council on Foreign Relations and Chairman of American Ditchley Foundation.

Masato Miyachi

Mr. Miyachi has been a director since May 2022. He has been Advisor of MUFG Bank, Ltd. and Mitsubishi UFJ Securities Holdings Co., Ltd. since June 2022. Mr. Miyachi has also served as Deputy President of MUFG Bank from April 2019 to June 2022, a director of MUFG Bank from June 2018 to June 2022, and Chief Executive of Global Corporate and Investment Banking Group of MUFG Bank from April 2018 to March 2022. He was Chairman of MUFG Americas Holdings Corporation from May 2017 until April 2020. Mr. Miyachi served as Co-Chief Executive of the Global Business Unit for the MUFG Bank Americas and Europe, the Middle East and Africa (EMEA) from May 2017 to April 2018, the Deputy Regional Executive for the MUFG Bank Americas from May 2016 to May 2017 and Regional Executive for MUFG Bank EMEA from May 2014 to May 2016. He has held numerous senior-level positions since joining The Bank of Tokyo, Ltd. (now MUFG Bank Ltd.) in April 1984, including in M&A Advisory, Structured Finance, Corporate Strategy and Investment Banking. Mr. Miyachi holds a Bachelor of Economics degree from the University of Tokyo. He earned his master’s degree from Stanford University’s Graduate School of Business and his Ph.D. from Waseda University Graduate School of Asia-Pacific Studies in International Relations.

Dennis M. Nally

Mr. Nally has been a director since October 2016. He served as the Chair of PricewaterhouseCoopers International Ltd., the coordinating and governance entity of the PwC network, from 2009 until July 2016. Prior to that, he served as the Chair and Senior Partner of the U.S. firm of PricewaterhouseCoopers LLP from May 2002 through June 2009. Mr. Nally joined PricewaterhouseCoopers LLP in 1974 and became a partner in 1985. He served in numerous leadership positions within PricewaterhouseCoopers LLP, including National Director of Strategic Planning, Audit and Business Advisory Services Leader, and Managing Partner. Mr. Nally is a member of the board of Cencora, Inc. and Vice Chairman of the Board of Directors for The HOW Institute for Society, and serves on the Carnegie Hall Society Board of Trustees. Mr. Nally is a graduate of Western Michigan University and completed the Columbia University and Penn State University Executive Programs.

DOUGLAS L. PETERSON

Mr. Peterson has been a director since May 2025. He has served as Senior Advisor to S&P Global Inc. (SPGI) since November 2024 and was President and CEO of SPGI from 2013 to November 2024 and Director of SPGI from 2013 to May 2025. Mr. Peterson joined SPGI, formerly known as McGraw Hill Companies, in 2011 as President of Standard and Poor’s Rating Services (now S&P Global Ratings). Mr. Peterson joined Citigroup Inc. (Citigroup) in 1985, and during his tenure, he served in senior leadership positions including Chief Operating Officer of Citibank, N.A. from 2010 to 2011, Chairman and CEO of Citigroup Japan from 2004 to 2010, Chief Auditor of Citigroup from 2000 to 2004, and positions of increasing responsibility in Latin America. Mr. Peterson is a member of the boards of directors of the UN Global Impact, Japan Society and National Bureau of Economic Research. He is also a member of the Advisory Board of the Federal Deposit Insurance Corporation’s Systemic Resolution Advisory Committee. Mr. Peterson holds a bachelor’s degree from Claremont McKenna College and a Master of Business Administration from The Wharton School at the University of Pennsylvania.

Mary L. Schapiro

Ms. Schapiro has been a director since July 2018. She is the Vice Chair for Global Public Policy and Special Advisor to the Founder and Chair of Bloomberg L.P from October 2018. Ms. Schapiro was Vice Chair of the Advisory Board of Promontory Financial Group LLC from January 2014 through 2018 and was previously managing director of Promontory Financial Group LLC from April 2013 to January 2014. She served as Vice Chair of the Value Reporting Foundation Board from June 2021 to August 2022, and the Sustainability Accounting Standards Foundation Board from May 2014 to June 2021. Ms. Schapiro served as the Chair of the U.S. Securities and Exchange Commission, from January 2009 to December 2012. She was also the Chair and Chief Executive Officer of the Financial Industry Regulatory Authority (FINRA) from 2006 to 2008, and served in numerous other key executive positions at FINRA and its predecessor from 1996 to 2006, including Vice Chair and President of NASD Regulation. Ms. Schapiro served as Chair of the Commodity Futures Trading Commission from 1994 to 1996. She currently serves on the board of CVS Health Corporation and is also a member of the Morgan Stanley Institute for Sustainable Investing Advisory Board. Ms. Schapiro is a graduate of Franklin and Marshall College and received a Juris Doctor from George Washington University School of Law.

Perry M. Traquina

Mr. Traquina has been a director since May 2015. He is the former Chairman, Chief Executive Officer and Managing Partner of Wellington Management Company LLP, a global multi-asset investment management firm, serving from 2004 through June 2014 as CEO and Managing Partner and from 2004 through December 2014 as the Chair. He was Partner, Senior Vice President and Director of Global Research at Wellington from 1998 to 2002 and President from 2002 to 2004. Mr. Traquina joined Wellington in 1980 and served in several executive roles before being named Chairman, CEO and Managing Partner. He is a chartered financial analyst and earned his bachelor’s degree from Brandeis University and Master of Business Administration from Harvard Business School. Mr. Traquina is a member of the Morgan Stanley Institute for Inclusion Advisory Board. He is a director at The Allstate Corporation and eBay Inc., Emeritus Trustee of Brandeis University and trustee of the Windsor School and the Steppingstone Foundation.

Rayford Wilkins, Jr.

Mr. Wilkins has been a director since August 2013. He is former CEO of Diversified Businesses of AT&T Inc. (AT&T), where he was responsible for international investments, AT&T Interactive, AT&T Advertising Solutions and customer information services from October 2008 to March 2012. Previously in his career, Mr. Wilkins held several leadership roles at AT&T and its predecessor companies, including Group President and CEO of SBC Enterprise Business Services, Group President of Marketing and Sales at SBC Communications, and President and CEO of Pacific Bell Telephone Company and Nevada Bell Telephone Company. He currently serves on the boards of Caterpillar Inc. and Valero Energy Corporation. He is also a member of the Morgan Stanley Institute for Inclusion Advisory Board and the Advisory Council of the McCombs School of Business at the University of Texas at Austin, where he holds a bachelor’s degree.