(Bloomberg) -- Morgan Stanley will boost profitability as it pays brokers a smaller cut of revenue and the firms commodities business earns better returns following sales of two units, Chief Executive Officer James Gorman said.
The company, which earned a return on equity of about 5% each of the past two years, has a plan to in 2015 and beyond, sustainably drive ROE at 10% or higher, Gorman said yesterday at his banks investor conference in New York. He didnt provide a return target for this year. Last year, he said the firm could post a 10% ROE by 2014 if regulators allowed it to return a reasonable amount of capital to shareholders through dividends and buybacks.
Register or login for access to this item and much more
All On Wall Street content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access