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February 10, 2016 6:23 AM ET

Capital Markets

Company Overview of Morgan Stanley Investment Management Inc.

Company Overview

Morgan Stanley Investment Management Inc. is a privately owned investment manager. The firm provides its services to banking or thrift institutions, investment companies, pooled investment vehicles, pension and profit sharing plans, charitable organizations, corporations, state or municipal government entities, other investment advisers, insurance companies, foreign government, non-us investment companies, and official foreign organization and trust. It manages separate client-focused equity, fixed income, balanced, and multi-asset portfolios. The firm launches and manages equity, fixed income, balanced, and multi-asset mutual funds for its clients. It also launches and manages hedge funds f...

522 Fifth Avenue

New York, NY 10036

United States

Founded in 1975

Phone:

212-296-6600

Fax:

646-452-0390

Key Executives for Morgan Stanley Investment Management Inc.

President and Managing Director
Age: 52
Managing Director and Global Head of Fund Services
Age: 56
Managing Director and Head of U.S. Growth Investing
Managing Director
Managing Director and Strategy Specialist
Compensation as of Fiscal Year 2015.

Morgan Stanley Investment Management Inc. Key Developments

Morgan Stanley Investment Management Inc. Presents at 24th Annual European Pensions Symposium, Feb-03-2016 through Feb-05-2016

Morgan Stanley Investment Management Inc. Presents at 24th Annual European Pensions Symposium, Feb-03-2016 through Feb-05-2016. Venue: Parco Dei Principi Hotel, Rome, Italy. Presentation Date & Speakers: Feb-04-2016, Richard J. Lindquist, Managing Director and Head of High Yield Fixed Income Team.

Morgan Stanley Investment Management Reports Unaudited Earnings Results for the Fourth Quarter and Year Ended December 31, 2015

Morgan Stanley Investment Management reported unaudited earnings results for the fourth quarter and year ended December 31, 2015. For the quarter, net revenues were $621 million against $588 million a year ago. Income from continuing operations before tax was $123 million against loss from continuing operations before tax of $6 million a year ago. Income from continuing operations was $82 million against loss from continuing operations of $3 million a year ago. Net income applicable to parent company were $87 million against net loss applicable to parent company of $15 million a year ago. Return on average common equity was 17%. For the year, net revenues were $2,315 million against $2,712 million a year ago. Income from continuing operations before tax was $492 million against $664 million a year ago. Income from continuing operations was $364 million against $457 million a year ago. Net income applicable to parent company were $346 million against $371 million a year ago. Return on average common equity was 16% against 13% a year ago.

Morgan Stanley Investment Management and SG Americas Settle Charges with Securities and Exchange Commission

The Securities and Exchange Commission announced that Morgan Stanley Investment Management has agreed to pay $8.8 million to settle charges that one of its portfolio managers unlawfully conducted prearranged trading known as 'parking' that favored certain advisory client accounts over others. The portfolio manager and a brokerage firm trader who assisted the schemes agreed to be barred from the securities industry and pay penalties in the settlement. The brokerage firm, SG Americas, agreed to pay more than $1 million to settle the SEC's charges. An SEC investigation found that while managing accounts that needed to liquidate certain positions, Sheila Huang arranged sales of mortgage-backed securities to SG Americas trader Yimin Ge at predetermined prices that would enable her to buy back the positions at a small markup into other accounts advised by Morgan Stanley. Huang also sold additional bonds at above-market prices to avoid incurring losses in certain accounts, but she repurchased them at unfavorable prices in a fund that she managed without disclosing it to the disadvantaged fund client. Instead of playing by the rules, Huang engaged in prearranged trading schemes that benefited some clients while harming others. Morgan Stanley failed to uncover Huang's misconduct due to its lack of supervisory oversight and failure to implement policies specifically addressing prearranged trades. According to the SEC's orders instituting settled administrative proceedings: Huang, who no longer works at Morgan Stanley, conducted the schemes in 2011 and 2012; Huang effected prearranged transactions for five sets of bond trades. She sold them to Ge at the highest current independent bid price available for the securities, and executed the repurchase side of the cross trade at a small markup over the sales price; by not crossing these positions at the midpoint between best bid and offer, Huang generally allocated the full benefit of the market savings to its purchasing clients, even though the buying and selling clients were owed the same fiduciary duty; by interposing a broker to effectuate these cross trades, Huang evaded internal cross trade requirements and caused violations of regulatory prohibitions on cross trades applicable to registered investment companies; in the additional set of prearranged trades to avoid incurring losses in certain accounts, Huang sold certain bonds at above-market prices to SG Americas and simultaneously sold two bonds from an unregistered MSIM fund to SG Americas at below market prices for no legitimate business purpose. The trades offset the above-market prices of the other bonds Huang sold; at the time of the sale to SG Americas, Huang prearranged their repurchase by an unregistered fund she managed and advised at Morgan Stanley. Through these trades, Huang moved approximately $600,000 in previously unrealized losses from the selling accounts to the unregistered Morgan Stanley fund. The SEC's order finds that Huang willfully violated Sections 17(a)(1) and (3) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934 and Rules 10b-5(a) and a separate SEC order finds that SG Americas willfully violated Section 17(a) of the Exchange Act and Rule 17a-3 (a)(2) for failing to make and keep accurate books and records and failing to supervise Ge, who willfully aided and abetted Huang's violations. Without admitting or denying the findings, SG Americas agreed to pay an $800,000 penalty and $211,093 in disgorgement and prejudgment interest, and Ge - who no longer works at the firm - agreed to pay a $25,000 penalty and is barred from the securities industry for at least three years.

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