Morgan Stanley

Good morning. I will be reading a statement on behalf of Morgan Stanley. Today's presentation will refer to Morgan Stanley's earnings release and financial supplement, 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.

Good morning, everyone, and thank you for joining us. As you all know, over the past decade, we've dramatically transformed our business model. We've grown the contribution of more durable, balance sheet-like sources of revenue, investing wealth management and investment management, while maintaining our leadership position and taking share across our integrated investment bank. The intention has been to provide stability to our firm in times of serious stress and to provide strength and value to our clients in times of volatile and active markets.

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