Morgan Stanley is a financial services group. Income (including intragroup) breaks down by activity as follows: - investment and finance banking (45%): specialized financing (acquisitions, projects, etc.), operations on the stock, interest, exchange, and raw materials markets, share trading transactions, merger-acquisition consulting, etc.; - wealth management (45%); - assets management (10%): USD 1,459 billion asset under management at the end of 2023. Income is distributed geographically as follows: Americas (76.9%), Asia (11.9%) and Europe/Middle East/Africa (11.2%).