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BRIEF-Morgan Stanley still searching for ways to cut costs-CEO
October 18, 2013 / 3:15 PM / 4 years ago

BRIEF-Morgan Stanley still searching for ways to cut costs-CEO

NEW YORK, Oct 18 (Reuters) -

* Morgan Stanley is investing in people and technology in fixed-income trading-CEO James Gorman

* Morgan Stanley on track to meet or beat expense-savings targets excluding litigation-CEO

* Morgan Stanley “stayed very close to home in regards to risk” in trading during third quarter-CEO

* Morgan Stanley fixed-income trading revenue hurt by macro products, cva charges-CFO

* Morgan Stanley revenue from trading credit products rose despite challenges-CFO Ruth Porat

* Morgan Stanley CFO says rates trading was “challenging” with risk-taking at “historically low levels”

* Morgan Stanley CFO: trading in currencies, mortgages slower than previous quarter

* Morgan Stanley fixed-income trading can reach return target without hitting $6 billion annual revenue target-CFO

* Morgan Stanley CFO: strong performance in equities trading not helped by one-time gains

* Morgan Stanley’s plans for repurchases ultimately depends on fed approval with stress tests-CFO

* Morgan Stanley has 40 or 50 executives assigned to ongoing expense management plan globally-CEO

* Morgan Stanley achieved expense savings target, excluding litigation, but still looks for ways to cut costs-CFO

* Morgan Stanley Investment Management has highest pretax profit since 2010 on real estate, merchant banking gains-CEO

* Deal activity will not pick up meaningfully until there is a long-term solution for U.S. budget-CFO

* Morgan Stanley supplemental leverage ratio estimated at 4.2 percent as of Sept. 30-CFO

* Morgan Stanley leverage ratio now excludes benefit of clearing and has drag of higher deposits-CFO

* Morgan Stanley fixed-income trading helped by investment grade, distressed, high-yield debt-CFO

* Morgan Stanley litigation expenses running $200 million to $300 million higher than usual-CFO

* Morgan Stanley asset management increasingly reliant on fee income with less capital at risk-CEO

* Morgan Stanley executives “certainly have the capacity” for “much higher share repurchases”-CFO

* Morgan Stanley has “culture of expense management across the firm that we haven’t seen for a long time”-CEO Source text for Eikon: Further company coverage:

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