J E L L Y E N T
Morgan Stanley Closes Acquisition of E*TRADE

NEW YORK & ARLINGTON –

Morgan Stanley (NYSE: MS) presented ethical this moment that it has done the acquisition of E*TRADE Monetary Company (E*TRADE) in an all-inventory transaction. E*TRADE similar outdated stockholders are entitled to get 1.0432 Morgan Stanley similar outdated shares for every and each E*TRADE similar outdated portion.

« The addition of E*TRADE positions us as an commerce chief in Wealth Management ethical by all channels and segments, and severely will give a pick to the scale and breadth of our Wealth Management franchise, which now oversees $3.3 trillion in property, » stated James P. Gorman, Chairman and Chief Govt Officer of Morgan Stanley. « E*TRADE has built a most bright-in-class, expose-to-person digital channel and a ambitious model over the past 38 years. The addition of their premier providing will most modern enhanced capabilities to all our customers and Monetary Advisors.”

Michael Pizzi, CEO of E*TRADE, joins Morgan Stanley and would possibly well maybe fair lead E*TRADE’s expose-to-person, digital self-directed commerce that will maybe maybe motive below the E*TRADE model, and would possibly well maybe fair co-lead the equity administration commerce. He moreover joins the Morgan Stanley Working and Management Committees.

Moreover, ethical this moment Shelley Leibowitz, one in every of E*TRADE’s capable directors, has joined the Morgan Stanley Board of Directors. “Ms. Leibowitz brings a wealth of monetary know-how and management expertise. We welcome her to the Board and seek for forward to working with her,” stated Ray Wilkins, Chair of the Board’s Nominating and Governance Committee.

Morgan Stanley is a fundamental world monetary products and suppliers company providing investment banking, securities, wealth management and investment management products and suppliers. With locations of labor in additional than 41 countries, the Firm’s personnel lend a hand customers worldwide in conjunction with companies, governments, institutions and contributors. For additional recordsdata about Morgan Stanley, please poke to www.morganstanley.com.

This press liberate would possibly well maybe fair capable maintain forward-having a see out statements, in conjunction with the attainment of obvious monetary and a great deal of targets, needs and desires. Readers are cautioned to no longer hassle undue reliance on forward-having a see out statements, which expose perfect as of the date on which they’re made, which come to a resolution management’s most up-to-date estimates, projections, expectations, assumptions, interpretations or beliefs and which would be topic to risks and uncertainties that will maybe maybe spot off staunch outcomes to alter materially. Morgan Stanley would no longer undertake any responsibility to interchange any forward-having a see out statements. For a dialogue of risks and uncertainties that will maybe maybe expose an maintain an impact on on the long budge outcomes of the Firm, please peer “Forward-Having a see Statements” straight preceding Fragment I, Item 1, “Competitors” and “Supervision and Regulation” in Fragment I, Item 1, “Threat Factors” in Fragment I, Item 1A, “Elegant Court cases” in Fragment I, Item 3, “Management’s Dialogue and Prognosis of Monetary Direct and Outcomes of Operations” in Fragment II, Item 7 and “Quantitative and Qualitative Disclosures about Market Threat” in Fragment II, Item 7A within the Firm’s Annual File on Maintain 10-Okay for the one year ended December 31, 2019 and a great deal of items within the center of the Maintain 10-Okay, the Firm’s Quarterly Experiences on Maintain 10-Q and the Firm’s Novel Experiences on Maintain 8-Okay, in conjunction with the Novel File filed with the SEC on April 16, 2020 and the additional probability factors below “Threat Factors” within the Registration Thunder on Maintain S-4 filed with the SEC on April 17, 2020, as amended.

# # #

Demonstrate to Editors:

Shelley B. Leibowitz

Shelley B. Leibowitz grew to turn out to be as soon as on the Board of Directors at E*TRADE from December 2014 to September 2020.

Ms. Leibowitz is President of SL Advisory, a company she primarily based totally in 2016 that focuses on know-how attain, digital transformation, IT portfolio and probability management, recordsdata safety, efficiency metrics, and governance. From 2009 by 2012, Ms. Leibowitz served as Personnel Chief Knowledge Officer for the World Monetary institution, where she grew to turn out to be as soon as guilty for the know-how products and suppliers and capabilities that underlie the work of handing over massive recordsdata and financing products to the Monetary institution Personnel’s customers ethical by the globe. Ms. Leibowitz managed the Monetary institution Personnel’s cybersecurity program and served as a member of the Monetary institution Personnel’s Pension Investment Committee. Beforehand, Ms. Leibowitz held Chief Knowledge Officer positions at Morgan Stanley, Greenwich Capital Markets and Barclays Capital.

In prior years, Ms. Leibowitz served on the board of Endgame, fundamental supplier of cybersecurity capabilities to the U.S. intelligence and defense communities, got by Elastic NV in 2019, and on the board of Alliance Bernstein Placing forward LP, where she served on the Audit and Threat Committee. Ms. Leibowitz is on the moment on the board of directors of Massachusetts Mutual Existence Insurance safety Agency, where she serves on the Investment Committee and the Talents & Governance Committee. She is moreover a member of the Council on Worldwide Kin and on the Visiting Committee of the Center for Model Economics at Williams College. Ms. Leibowitz is a Board Management Fellow on the Nationwide Affiliation of Firm Directors, where she is a frequent speaker and has done Directorship Certification and the CERT Certificates in Cybersecurity Oversight.

Ms. Leibowitz graduated Phi Beta Kappa from Williams College with a BA in Arithmetic.

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