Q2 2023 Morgan Stanley Earnings Call Transcript

Jul 18, 2023 / 01:30PM GMT
Operator

Good morning. On behalf of Morgan Stanley, I will begin the call with the following disclaimer. This call is being recorded. During today's presentation, we will refer to our earnings release and financial supplements, copies of which are available at morganstanley.com. Today's presentation may include forward-looking statements that are subject to risks and uncertainties that may cause actual results to differ materially.

Please refer to our notices regarding forward-looking statements and non-GAAP measures that appear in the earnings release. This presentation may not be duplicated or reproduced without our consent. I will now turn the call over to Chairman and Chief Executive Officer James Gorman.

James Patrick Gorman - Morgan Stanley - Chairman & CEO

Good morning, everyone, and thank you for joining us. We started the second quarter with significant headwinds and uncertainties, and it's fair to say that we ended the quarter overall in a better place with a better tone. The headwinds reflect the ongoing market transition from a high inflation,

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