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What We Do
What We Do
- Morgan Stanley helps people, institutions and governments raise, manage and distribute the capital they need to achieve their goals.
  
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About Us
About Us
- Since our founding in 1935, Morgan Stanley has consistently delivered first-class business in a first-class way. Underpinning all that we do are five core values.
  
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  Everything we do at Morgan Stanley is guided by our five core values: Do the right thing, put clients first, lead with exceptional ideas, commit to diversity and inclusion, and give back.
- Since our founding in 1935, Morgan Stanley has consistently delivered first-class business in a first-class way. Underpinning all that we do are five core values.
  
  Leadership
  
  Morgan Stanley leadership is dedicated to conducting first-class business in a first-class way. Our board of directors and senior executives hold the belief that capital can and should benefit all of society.
- Since our founding in 1935, Morgan Stanley has consistently delivered first-class business in a first-class way. Underpinning all that we do are five core values.
  
  History
  
  From our origins as a small Wall Street partnership to becoming a global firm of more than 80,000 employees today, Morgan Stanley has been committed to clients and communities for 89 years.
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- Since our founding in 1935, Morgan Stanley has consistently delivered first-class business in a first-class way. Underpinning all that we do are five core values.
  
  Diversity
  
  Morgan Stanley is differentiated by the caliber of our diverse team. Our culture of access and inclusion has built our legacy and shapes our future, helping to strengthen our business and bring value to clients.
- Since our founding in 1935, Morgan Stanley has consistently delivered first-class business in a first-class way. Underpinning all that we do are five core values.
  
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- Since our founding in 1935, Morgan Stanley has consistently delivered first-class business in a first-class way. Underpinning all that we do are five core values.
  
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  At Morgan Stanley, giving back is a core value—a central part of our culture globally. We live that commitment through long-lasting partnerships, community-based delivery and engaging our best asset—Morgan Stanley employees.
- Since our founding in 1935, Morgan Stanley has consistently delivered first-class business in a first-class way. Underpinning all that we do are five core values.
  
  Technology
  
  As a global financial services firm, Morgan Stanley is committed to technological innovation. We rely on our technologists around the world to create leading-edge, secure platforms for all our businesses.
- Since our founding in 1935, Morgan Stanley has consistently delivered first-class business in a first-class way. Underpinning all that we do are five core values.
  
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Board of Directors

As of January 2, 2025

Ted Pick

Ted Pick is Chairman and Chief Executive Officer of Morgan Stanley. Before becoming CEO in January 2024 and Chairman in January 2025, Mr. Pick served as Morgan Stanley’s Co-President, Co-Head of Firm Strategy and Head of the Institutional Securities Group, overseeing Investment Banking, Equities, Fixed Income, Global Capital Markets and Research. In previous roles, Mr. Pick was Global Head of Sales and Trading, engineering a turnaround of the firm’s Fixed Income Division. As Head of Institutional Equities, he led that business to a leading global position. He also served as Head of Equity Capital Markets helping the firm actively raise capital during the financial crisis. Mr. Pick joined Morgan Stanley in 1990 and was promoted to Managing Director in 2002. He is a member of the firm’s Operating Committee (2012), Management Committee (2008) and Morgan Stanley-MUFG Steering Committee (2013). Mr. Pick graduated Phi Beta Kappa from Middlebury College (1990) and received an MBA from the Harvard Business School (1994). He is a Trustee at the Metropolitan Museum of Art (2018) and serves on the MET’s Nominating & Governance Committee. Mr. Pick is Chair of the Advisory Board for the Morgan Stanley Alliance for Children’s Mental Health. Additionally, he is a member of The Business Council, the Institute of International Finance, and the Monetary Authority of Singapore International Advisory Panel.

MEGAN BUTLER

Ms. Butler has been a director since May 2024. She served as a former Executive Director of the Financial Conduct Authority (“FCA”) from 2020 to 2022, and was previously the Executive Director of Supervision, Investment Wholesale and Specialists Division of FCA from 2015 to 2020. From 2013 to 2015, Ms. Butler served as a former Executive Director of International Banks Directorate of the U.K. Prudential Regulation Authority. She previously served as a former Head of Investment Banks Supervision from 2012 to 2013 and Director in the International Banks Division from 2008 to 2012 of the Financial Services Authority. Ms. Butler is currently a member of the Jersey Financial Services Board of Commissioners since June 2023. She also serves as a member of the board of directors of Morgan Stanley subsidiaries, Morgan Stanley & Co. International plc, Morgan Stanley Bank International Limited and Morgan Stanley International Limited, each since October 2022. Ms. Butler is a qualified lawyer admitted to the Bar of England and Wales, and holds a Bachelor of Laws from University of Sheffield.

Thomas H. Glocer

Mr. Glocer has been a director since May 2013 and Independent Lead Director since September 2017. He served as Chief Executive Officer of Thomson Reuters Corporation, a news and information provider for businesses and professionals, from 2008 through 2011 and as Chief Executive Officer of Reuters Group PLC from 2001 to 2008. He joined Reuters Group PLC in 1993 and served in a variety of executive roles before being named Chief Executive Officer. Mr. Glocer was a mergers and acquisitions lawyer at the law firm Davis Polk & Wardwell from 1984 to 1993. He is the founder and managing partner of Angelic Ventures, L.P. Mr. Glocer is also a member of the board of Merck & Co., Inc., K2 Integrity Inc., the Council on Foreign Relations and the supervisory board of Publicis Groupe. He is a trustee of the Cleveland Clinic, and serves on the advisory boards of the President’s Council on International Activities at Yale University, the Columbia University Global Center (Europe), the Social Sciences Research Council and GP Investments.

Robert H. Herz

Mr. Herz has been a director since July 2012. He served as the Chair of the Financial Accounting Standards Board from 2002 to 2010 and was previously a member of the International Accounting Standards Board and the Value Reporting Foundation. He is currently President of Robert H. Herz LLC, providing consulting services on financial reporting matters, and is a director of Workiva Inc. Mr. Herz served as a partner with PricewaterhouseCoopers LLP from 1985 until 2002. He currently serves on the advisory boards of AccountAbility and Lukka, Inc. He also is an executive-in-residence at the Columbia University Business School, and trustee emeritus of the Kessler Foundation. Mr. Herz holds a Bachelor of Arts degree in Economics from the University of Manchester, England, and is both a U.S. CPA and an English Chartered Accountant.

Erika H. James

Ms. James has been a director since January 2022. She has served as the Dean of the Wharton School at the University of Pennsylvania since July 2020. From July 2014 to May 2020, Ms. James served as Dean of Emory University’s Goizueta Business School. From January 2012 to July 2014, Ms. James served as Senior Associate Dean for Executive Education at Darden School of Business, University of Virginia and was the President of the Institute for Crisis Management, a consulting and research organization for crisis preparedness and response, from November 2012 to June 2014. Ms. James serves on the boards of Momentive Global Inc., the Graduate Management Admissions Council (GMAC), Save the Children, the Philadelphia Orchestra, as an advisory board member to Tsinghua University School of Economics and Management, and as an executive board member to the Indian School of Business. Ms. James holds a B.A. in psychology from Pomona College and a Ph.D. in organizational psychology from the University of Michigan.

Hironori Kamezawa

Mr. Kamezawa has been a director since May 2021. He has been President and Group CEO of Mitsubishi UFJ Financial Group, Inc. since April 2020 and Director of MUFG since June 2019. He has served as Director of MUFG Bank, Ltd. since June 2017. He was Deputy President of MUFG from April 2019 to March 2020, and Deputy President of MUFG Bank, Ltd. from April 2019 to March 2020. Mr. Kamezawa is the Chair of Global Open Network Japan, Inc., a joint venture between MUFG and Akamai Technologies, Inc. focused on block chain payment network services since April 2020 and served as CEO and Representative Director from December 2018 to March 2020. He was Chief Digital Transformation Officer from May 2017 to March 2020, Chief Operating Officer from April 2019 to March 2020, Chief Information Officer from May 2017 to March 2019, and Chief Data Officer of MUFG from May 2016 to May 2017. Mr. Kamezawa was Deputy CEO of MUFG Americas and Chief Risk Officer for the Americas, based in New York, from May 2014 to May 2016. He has held numerous senior-level positions in Japan since joining The Mitsubishi Bank, Limited in April 1986, including the Global Markets Planning Division and Credit Policy & Planning Division of MUFG Bank.

Shelley B. Leibowitz

Ms. Leibowitz has been a director since October 2020 and formerly served as a member of the E*TRADE board of directors from December 2014 until its acquisition by Morgan Stanley. She is President of SL Advisory, a firm she founded in 2016 that provides advice and insights in innovation and digital transformation, information technology portfolio and risk management, digital trust, performance metrics, and effective governance. From 2009 to 2012, Ms. Leibowitz served as Group Chief Information Officer for the World Bank. Previously, Ms. Leibowitz held Chief Information Officer positions at Morgan Stanley, Greenwich Capital Markets, Barclays Capital, and Investment Risk Management. Ms. Leibowitz is currently a director of BitSight, a cyber risk management firm, Elastic N.V. and the New York Board of the National Association of Corporate Directors. She is a member of the Council on Foreign Relations and serves on the Visiting Committee of the Center for Development Economics at Williams College. Previously, Ms. Leibowitz served on the boards of Massachusetts Mutual Life Insurance Company, Endgame, a provider of cybersecurity capabilities to the US intelligence and defense communities, and Alliance Bernstein Holding LP. She graduated Phi Beta Kappa from Williams College with a BA in Mathematics.

Jami Miscik

Ms. Miscik has been a director since November 2014. She is currently the CEO of Global Strategic Insights, a private consulting firm focused on advising on geopolitical issues. She previously served as the CEO and Vice Chair of Kissinger Associates, Inc., a New York-based strategic international consulting firm that assesses and navigates emerging market geopolitical and macroeconomic risks for its clients from March 2017 to June 2022 and as President and Vice-Chair of Kissinger from 2009 to 2015. Ms. Miscik was the global head of sovereign risk at Lehman Brothers from 2005 to 2008, served at the Central Intelligence Agency from 1983 to 2005 and was Deputy Director for Intelligence from 2002 to 2005. She serves as a Senior Advisor for Geopolitical Risk at Lazard. Ms. Miscik holds a Bachelor of Arts degree in Political Science and Economics from Pepperdine University, a Master's Degree from the University of Denver's School of International Studies, and an honorary doctorate in public service from the University of Denver. She is a member of the board of General Motors and HP Inc. and is also a Co-Vice Chair of the Council on Foreign Relations, In-Q-Tel and Chairman of American Ditchley Foundation and was Co-Chair of the President's Intelligence Advisory Board.

Masato Miyachi

Mr. Miyachi has been a director since May 2022. He has been Advisor of MUFG Bank, Ltd. and Mitsubishi UFJ Securities Holdings Co., Ltd. since June 2022. Mr. Miyachi has also served as Deputy President of MUFG Bank from April 2019 to June 2022, a director of MUFG Bank from June 2018 to June 2022, and Chief Executive of Global Corporate and Investment Banking Group of MUFG Bank from April 2018 to March 2022. He was Chairman of MUFG Americas Holdings Corporation from May 2017 until April 2020. Mr. Miyachi served as Co-Chief Executive of the Global Business Unit for the MUFG Bank Americas from May 2016 to May 2017 and Regional Executive for MUFG Bank EMEA from May 2014 to May 2016. He has held numerous senior-level positions since joining The Bank of Tokyo, Ltd. (now MUFG Bank Ltd.) in April 1984, including in M&A Advisory, Structured Finance, Corporate Strategy and Investment Banking. Mr. Miyachi holds a Bachelor of Economics degree from the University of Tokyo. He earned his Master’s degree from Stanford University’s Graduate School of Business and his Ph.D. from Waseda University Graduate School of Asia-Pacific Studies in International Relations.

Dennis M. Nally

Mr. Nally has been a director since October 2016. He served as the Chair of PricewaterhouseCoopers International Ltd., the coordinating and governance entity of the PwC network, from 2009 until July 2016. Prior to that, he served as the Chair and Senior Partner of the U.S. firm of PricewaterhouseCoopers LLP. Mr. Nally joined PricewaterhouseCoopers LLP in 1974 and became a partner in 1985. He served in numerous leadership positions within PricewaterhouseCoopers LLP, including National Director of Strategic Planning, Audit and Business Advisory Services Leader, and Managing Partner. Mr. Nally is a member of the board of AmerisourceBergen Corporation. He is also a member of the American Institute of Certified Public Accountants and the New York State Society of CPAs. Mr. Nally is Vice Chairman of the Board of Directors for The HOW Institute for Society. He serves on the Carnegie Hall Society Board of Trustees and as Vice Chair and Board member of the U.S. Council for International Business. Mr. Nally is a graduate of Western Michigan University and completed the Columbia University and Penn State University Executive Programs.

Mary L. Schapiro

Ms. Schapiro has been a director since July 2018. She is the Vice Chair for Global Public Policy and Special Advisor to the Founder and Chair of Bloomberg L.P. and was previously managing director of Promontory Financial Group LLC from March 2013 to January 2014. Ms. Schapiro served as the Chair of the U.S. Securities and Exchange Commission, from January 2009 to December 2012. She was also the Chair and Chief Executive Officer of the Financial Industry Regulatory Authority (“FINRA”) from 2006 to 2008, and served in numerous other key executive positions at FINRA and its predecessor from 1996 to 2006, including Vice Chair and President of NASD Regulation. Ms. Schapiro served as Chair of the Commodity Futures Trading Commission from 1994 to 1996. She currently serves on the board of CVS Health Corporation. Ms. Schapiro is also Vice Chair of the Board of The Value Reporting Foundation and is a member of the Morgan Stanley Institute for Sustainable Investing Advisory Board. Ms. Schapiro is a graduate of Franklin and Marshall College and received a Juris Doctor from George Washington University School of Law.

Perry M. Traquina

Mr. Traquina has been a director since May 2015. He is the former Chairman, Chief Executive Officer and Managing Partner of Wellington Management Company LLP, a global multi-asset investment management firm, serving from 2004 through June 2014 as CEO and Managing Partner and from 2004 through December 2014 as the Chair. He was Partner, Senior Vice President and Director of Global Research at Wellington from 1998 to 2002 and President from 2002 to 2004. Mr. Traquina joined Wellington in 1980 and served in several executive roles before being named Chairman, CEO and Managing Partner. He is a chartered financial analyst and earned his M.B.A. from Harvard Business School in 1980. Mr. Traquina is a member of the Morgan Stanley Institute for Inclusion Advisory Board. He is a director at The Allstate Corporation and eBay Inc., Emeritus Trustee of Brandeis University and trustee of the Windsor School and the Steppingstone Foundation.

Rayford Wilkins, Jr.

Mr. Wilkins has been a director since August 2013. He is former CEO of Diversified Businesses of AT&T, where he was responsible for international investments, AT&T Interactive, AT&T Advertising Solutions, customer information services and the consumer wireless initiative in India. Previously in his career, Mr. Wilkins held several leadership roles at AT&T and its predecessor companies, including Group President of Marketing and Sales at SBC Communications, President and CEO of SBC and Pacific Bell, and President and CEO of Southwestern Bell Telephone, among others. He currently serves on the board of Caterpillar Inc. and Valero Energy Corporation. He is also a member of the Morgan Stanley Institute for Inclusion Advisory Board and the Advisory Council of the McCombs School of Business at the University of Texas at Austin, where he holds a bachelor’s degree.