Morgan Stanley 2010 Annual Report Download - page 3

ANNUAL REPORT ON FORM 10-K
for the year ended December 31, 2010
Table of Contents Page
Part I
Item 1. Business ...................................................................... 1
Overview ................................................................... 1
Available Information ......................................................... 1
Business Segments ............................................................ 2
Institutional Securities ......................................................... 2
Global Wealth Management Group ............................................... 5
Asset Management ............................................................ 6
Research .................................................................... 7
Competition ................................................................. 7
Supervision and Regulation ..................................................... 8
Executive Officers of Morgan Stanley ............................................ 21
Item 1A. Risk Factors ................................................................... 23
Item 1B. Unresolved Staff Comments ...................................................... 31
Item 2. Properties ..................................................................... 32
Item 3. Legal Proceedings .............................................................. 33
Item 4. [Removed and Reserved] ......................................................... 38
Part II
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of
Equity Securities ............................................................. 39
Item 6. Selected Financial Data .......................................................... 42
Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations ..... 44
Introduction ................................................................. 44
Executive Summary ........................................................... 45
Business Segments ............................................................ 54
Accounting Developments ...................................................... 73
Other Matters ................................................................ 73
Critical Accounting Policies .................................................... 76
Liquidity and Capital Resources ................................................. 81
Item 7A. Quantitative and Qualitative Disclosures about Market Risk ............................. 96
Item 8. Financial Statements and Supplementary Data ........................................ 119
Report of Independent Registered Public Accounting Firm ............................ 119
Consolidated Statements of Financial Condition ..................................... 120
Consolidated Statements of Income ............................................... 122
Consolidated Statements of Comprehensive Income ................................. 123
Consolidated Statements of Cash Flows ........................................... 124
Consolidated Statements of Changes in Total Equity ................................. 125
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