The sixth largest U.S. Bank, Morgan Stanley investment bank, posted lower than expected Q4 2009 earnings. The financial intermediary earned $617-million in revenue, posting a $413-million ($0.14 per share) profit in Q4. Total employee compensation in Q4 2009 was $3.7-billion. Earnings were drawn down from debt accounting charges. The Q4 2009 results compare with a $2.3-billion loss in the same period in 2008.
This fourth-quarter profit marks the second straight quarterly profit for Morgan Stanley.
Morgan Stanley ended 2009 with a $1.15-billion profit, a healthy profit, compared to a massive $11-billion fiscal loss in 2008.
The intermediary also released its latest headcount information, a total of 61,388 employees now work at Morgan Stanley, up significantly from just over 45,000 a year ago. Morgan Stanley also said the average employee compensation is $244,000.
Morgan Stanley CEO James Gorman said today, “We are confident the steps we have taken this year will ensure that Morgan Stanley remains well-positioned,”