Morgan Stanley reported strong financial results for the fourth quarter and full year 2024, achieving record net revenues of $16.2 billion and $61.8 billion, respectively. Fourth-quarter earnings per share (EPS) were $2.22, up from $0.85 in Q4 2023, while full-year EPS increased to $7.95 from $5.18 in 2023. The firm's return on tangible common equity (ROTCE) was 20.2% for Q4 and 18.8% for the year.

Institutional Securities saw a 47% revenue increase in Q4, driven by strong equity and fixed-income performance. Wealth Management achieved record asset management revenues and substantial net new asset flows, with total client assets reaching $7.9 trillion. Investment Management experienced a 12% revenue growth in Q4, bolstered by higher average assets under management (AUM) and performance-based gains.

Morgan Stanley's efficiency ratio improved to 69% in Q4, reflecting disciplined expense management. The firm returned $3.3 billion to shareholders through share repurchases and maintained a strong Common Equity Tier 1 (CET1) capital ratio of 15.9%. CEO Ted Pick highlighted the firm's consistent execution and integrated strategy, positioning it for sustained growth and shareholder value creation.