MORGAN STANLEY (MS) Company Report

Morgan Stanley created a firmwide Head of Digital Asset Strategy role and appointed veteran Amy Oldenburg to coordinate its expanding crypto efforts.
The move follows filings for spot Bitcoin and Solana ETFs, a staked Ethereum ETF, and aligns with plans for a proprietary crypto wallet and cryptocurrency trading on E*TRADE in the first half of 2026.
Internal guidance recommends a crypto allocation of 2–4% based on client risk appetite, emphasizing client access, self-custody, and continuous liquidity.
The bank plans to integrate infrastructure partner Zerohash to support BTC, ETH, and SOL trading under its partner model.

3 days ago

Bloomberg

Morgan Stanley closes acquisition of EquityZen

M&A

Morgan Stanley has completed the acquisition of private shares platform EquityZen.
The firm will integrate EquityZen’s technology into its private market ecosystem to scale connections between liquidity-seeking clients and investors.
Jed Finn highlighted that leveraging Morgan Stanley’s Workplace channel and Investment Bank gives the firm a unique position to meet growing demand for private market exposure.
EquityZen will provide access to private market and alternative investments, which involve high risk and limited liquidity.

3 days ago

Press Release

Morgan Stanley advises on Lands’ End and WHP Global joint venture

M&A

New Projects/Investments

Lands’ End contributes IP to a new JV for $300 million cash from WHP Global for a 50% controlling stake; proceeds will fully repay its $234 million term loan
WHP Global to lead global licensing and brand expansion while Lands’ End retains its direct-to-consumer and B2B operations; license agreement includes $50 million guaranteed minimum royalties in year one
WHP Global will launch a tender offer for up to $100 million of Lands’ End shares at $45 per share, potentially acquiring up to 7% of outstanding stock
Lands’ End may exchange its JV interest for equity in WHP Global at the same valuation multiple during certain monetization events, preserving long-term upside
Transactions are expected to close in the first half of 2026

4 days ago

Press Release

Morgan Stanley reports Q4 and FY 2025 earnings results

Earnings

Morgan Stanley delivered fourth-quarter net revenues of $17.9 billion and EPS of $2.68, versus $16.2 billion and $2.22 a year ago; full-year net revenues were $70.6 billion with EPS of $10.21.
The firm achieved strong capital efficiency, with ROTCE of 21.8% in Q4 and 21.6% for the full year 2025.
Wealth & Investment Management client assets grew to $9.3 trillion, supported by $356 billion in net new assets and $160 billion in fee-based flows for the year.
Segment performance in 2025 included Institutional Securities net revenues of $33.1 billion (with $7.6 billion from Investment Banking), Wealth Management net revenues of $31.8 billion, and Investment Management net revenues of $6.5 billion.

Jan 15, 2026, 1:33 PM

8-K

Morgan Stanley reports Q4 2025 results

Earnings

Dividends

Guidance Update

Morgan Stanley delivered record full-year revenues of $70.6 billion, EPS of $10.21, and ROTCE of 21.6%; fourth-quarter revenues were $17.9 billion, EPS $2.68, and ROTCE 21.8%.
Institutional Securities posted full-year revenues of $33.1 billion (Q4: $7.9 billion), with Investment Banking revenues of $7.6 billion for the year and Q4 revenues up 47% YoY to $2.4 billion.
Wealth Management achieved full-year revenues of $31.8 billion at 29% margins, net new assets of $356 billion; Q4 revenues were $8.4 billion with 31.4% margin and $122 billion in net new assets.
The CET1 ratio stood at 15% with 300 bps of excess capital; raised the quarterly dividend four years in a row to $1.00 per share, with plans for continued dividend growth and opportunistic buybacks.

Jan 15, 2026, 1:30 PM

Transcript

Morgan Stanley reviews Q4 2025 results and outlines 2026 strategy

Earnings

Guidance Update

Morgan Stanley’s 2025 full-year results included record revenues of $70.6 B, EPS of $10.21, Q4 revenues of $17.9 B, Q4 EPS of $2.68, and ROTCE of 21.6% (FY) and 21.8% (Q4); the efficiency ratio improved to 68.4%.
Institutional Securities delivered record full-year revenues of $33.1 B and Q4 revenues of $7.9 B; Investment Banking generated $7.6 B (FY) and $2.4 B (Q4), up 47% YoY, while Equity markets and Fixed Income posted full-year revenues of $15.6 B and $8.7 B, respectively.
Wealth Management set full-year records with revenues of $31.8 B, a 29% margin, net new assets of $356 B, and fee-based flows of $160 B; Q4 revenues were $8.4 B at a 31.4% margin with $122 B of net new assets.
The firm plans to maintain discipline by keeping firm-wide targets unchanged while investing across Wealth, Institutional Securities, and Investment Management—and embedding AI tools to drive operating leverage and durable earnings growth.
Morgan Stanley enters 2026 with a Common Equity Tier 1 buffer above 300 bps and expects net interest income to remain roughly flat in Q1 as higher sweeps and lending balances offset recent rate cuts.

Jan 15, 2026, 1:30 PM

Transcript

Morgan Stanley presents Q4 2025 performance overview

Earnings

Dividends

Share Buyback

Morgan Stanley reported 2025 full-year revenues of $70.6 billion and Q4 revenues of $17.9 billion, delivering EPS of $10.21 and ROTCE of 21.6%
Institutional Securities achieved record FY revenues of $33.1 billion ($7.9 billion in Q4), with Investment Banking revenues at $7.6 billion FY ($2.4 billion in Q4, +47% YoY) driven by strong debt underwriting and advisory
Wealth Management generated net new assets of $350 billion in 2025, with $32 billion in revenues at 29% margins, and total client assets reaching $9.3 trillion year-end
The firm maintained a 15% CET1 ratio, returned capital via $4.6 billion of share buybacks and a $1.00 quarterly dividend, and plans further AI-driven technology investments for efficiency

Jan 15, 2026, 1:30 PM

Transcript

Morgan Stanley reports Q4 2025 results

Earnings

Dividends

Morgan Stanley delivered EPS of $10.21 and a ROTCE of 21.6% in Q4 2025.
Total client assets reached $9.3 trillion, approaching the $10 trillion+ firmwide target.
Institutional Securities pre-tax margin expanded to 34% for 2025, reflecting operating leverage gains.
Quarterly dividend was raised to $1.00 per share, marking continued capital return to shareholders.

Jan 15, 2026, 1:30 PM

Presentation

Morgan Stanley Capital Partners makes majority investment in Olsson

M&A

New Projects/Investments

Morgan Stanley Capital Partners (MSCP) has made a majority investment in employee-owned Olsson, Inc., with significant reinvestment by Olsson employees, marking MSCP’s first institutional partnership in the firm.
Olsson, founded in 1956 and based in Lincoln, Nebraska, employs over 2,000 people across 35 offices in the United States.
MSCP will preserve Olsson’s people-first culture while leveraging its infrastructure services expertise to accelerate both organic and inorganic growth.
This transaction represents MSCP’s fourth infrastructure services investment since 2021, following Resource Innovations, Apex Companies, and Alliance Technical Group.
Environmental Financial Consulting Group served as exclusive financial advisor to Olsson; MSCP was advised by Houlihan Lokey, Harris Williams, AEC Advisors, and legal counsel Latham & Watkins.

Jan 13, 2026, 2:00 PM

Press Release

Morgan Stanley files spot Bitcoin and Solana trusts

Product Launch

New Projects/Investments

Morgan Stanley filed S-1 registration statements to launch the Morgan Stanley Bitcoin Trust and Morgan Stanley Solana Trust, with the Solana vehicle staking a portion of its SOL holdings for rewards.
The trusts are passive vehicles holding tokens directly, sponsored by Morgan Stanley Investment Management Inc., with CSC Delaware Trust Company as trustee and a mix of cold-storage and hot-wallet custody.
They will track the underlying asset prices without speculative selling, derivatives, or leverage.
Morgan Stanley could channel flows from its wealth-management division serving over 19 million clients, entering competition with BlackRock and Fidelity as spot crypto ETFs attracted $1.1–$1.16 billion in inflows during the first two trading days of 2026.