Bloomberg News

Morgan Stanley Follows Goldman With Fixed-Income Call

July 27, 2012

Morgan Stanley (MS:US), the sixth-largest U.S. bank by assets, is following Goldman Sachs Group Inc. (GS:US) in hosting its first-ever conference call for fixed-income investors.

Chief Financial Officer Ruth Porat, 54, will host the call at 8 a.m. New York time on Aug. 3 with Treasurer David Russo and Tom Wipf, head of resource management, the New York-based firm said today in a statement.

Porat has spoken in recent presentations about changes in the firm’s funding profile and liquidity reserve as the company seeks to reassure debtholders of Morgan Stanley, which has the highest priced credit-default swaps among the nation’s biggest banks. The firm cut its outstanding debt by $21 billion in the past 12 months and doubled common equity since 2007, according to Porat.

Goldman Sachs held its call, hosted by Treasurer Elizabeth “Liz” Beshel Robinson and CFO David A. Viniar, on July 24. Robinson told investors that the firm may not issue long-term debt to match the $11.8 billion it has in second-half maturities and detailed efforts to boost deposits.

Citigroup Inc., the third-largest U.S. bank, holds a conference call for fixed-income investors every quarter a few days after reporting earnings.

To contact the reporter on this story: Michael J. Moore in New York at mmoore55@bloomberg.net

To contact the editor responsible for this story: David Scheer at dscheer@bloomberg.net


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Companies Mentioned

  • MS
    (Morgan Stanley)
    • $34.16 USD
    • 0.20
    • 0.59%
  • GS
    (Goldman Sachs Group Inc/The)
    • $182.87 USD
    • 2.17
    • 1.19%
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