Morgan Stanley (NYSE:MSpA.PFD)
$ 23.86 -0.05 (-0.21%) Market Cap: - Enterprise Value: 90.07 Bil PE Ratio: 19.58 PB Ratio: 2.21 GF Score: 80/100
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Morgan Stanley to Acquire E*TRADE Financial Corporation - M&A Call Transcript

Feb 20, 2020 / 01:30PM GMT
Release Date Price: $23.85 (+0.76%)
James Patrick Gorman
Morgan Stanley - Chairman & CEO

Good morning, everyone. It's James Gorman, excuse my throat here. Thank you for joining us on such short notice. In the room with me, Mike Pizzi, CEO of E*TRADE; and Jon Pruzan, our CFO.

We're excited to announce that Morgan Stanley has entered into a definitive agreement to combine with E*TRADE, which, of course, is a dynamic tech-driven company with an iconic brand in the self-directed Wealth Management space. I'm personally delighted to welcome Mike to Morgan Stanley. Mike will continue to run the E*TRADE business within the Morgan Stanley franchise, and will lead the ongoing integration efforts. Mike will also join our Firm's operating and management committees reporting to me, and we're looking forward to leveraging his insights and also infusing our management and technology talent as we grow our combined business with the E*TRADE employees.

During today's presentation, we'll be referring to slides that have been posted to the Investor Relations website. This presentation may of course, include forward-looking statements.

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