Morgan Stanley is actively pursuing acquisitions to enhance its asset and wealth management business, according to CEO Ted Pick at the U.S. Financials Conference on [specific date not provided]. Pick emphasized that any M&A deals must align with the firm’s long-term growth priorities and meet a high strategic bar, particularly in wealth management and specific areas of asset management.
Morgan Stanley envisions reaching $10 trillion in wealth management assets, leveraging its platforms like E*TRADE and Workplace, supported by approximately 15,000 financial advisors. The company has a history of successful acquisitions, including Smith Barney, E*TRADE, and Eaton Vance, which have shifted its business toward more sustainable fee-based revenues.
While pursuing organic growth is a priority, Pick noted that regulatory improvements and the firm’s excess capital provide room to capitalize on the right M&A opportunities as they arise. As of now, Morgan Stanley’s shares have risen 19.2% over the past six months, outperforming its industry’s average of 1.3%.
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