Morgan Stanley (NYSE: MS) today reported net revenues of $14.8 billion for the firstquarter ended March 31, 2022 compared with $15.7 billion a year ago. Net income applicable to Morgan Stanley was $3.7 billion, or $2.02 per diluted share,1 compared with net income of $4.1 billion, or $2.19 per diluted share,1 for then same period a year ago.
James P. Gorman, Chairman and Chief Executive Officer, said, “The Firm delivered a strong ROTCE of 20% in the face of market volatility and economic uncertainty, demonstrating the resilience of our global diversified business. Institutional Securities navigated volatility on behalf of clients extraordinarily well, Wealth Management’s margin proved resilient and the business added $142 billion net new assets in the quarter, and Investment Management benefited from its diversification. The quarter’s results affirm our sustainable business model is well positioned to drive growth over the long term .”