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Morgan Stanley posts net loss of $275m in Q4

Morgan Stanley has reported a net loss of $275m, or $0.15 per diluted share, for the fourth quarter of 2011, compared to net earnings of $600m, or $0.41 per diluted share, for the same period in 2010.

The results included a loss of $1.7bn related to a settlement with MBIA.

Net revenues were $5.71bn for the fourth quarter of 2011, compared to $7.74bn for the same period a year ago.

Investment banking revenues were $1.05bn, down 40%, compared to $1.76bn for the same period in the previous year.

Revenues from asset management, distribution and administration fees declined 2% to $2.03bn.

Morgan Stanley chairman and CEO James Gorman said that for the past year, the company has made enormous progress by addressing a number of outstanding strategic and legacy issues. These included the conversion of MUFG’s preferred investment into common stock and the settlement with MBIA.

"Importantly, we also achieved market share gains across our institutional businesses, as well as significant net flows into our Global Wealth Management and Asset Management platforms," added Gorman.