Managing Director, Morgan Stanley

My name is Tracy Castle Newman. I work for Morgan Stanley. I've been there for 21 years. I'm a Managing Director in the Institutional Equity Division, focusing on our client business. Institutional equity is a business where we are delivering alpha and assets to our clients. And we do that by utilizing the content of Morgan Stanley to deliver ideas. Those ideas can be in the form of research ideas. They can be in the form of trade ideas. But ultimately we are trying to help our institutional client base make money. A life cycle with a client in the institutional equity division at the most basic form really stems with a research call by a research analyst. An analyst may come out with a catalyst around Apple. And their view on Apple stock may change. Once that view changes they come out with their call. Once they come out with their call, a sales person would then take that information and call the clients that actually care about the name, and talk about the reason why the analyst changed their view on the stock. They then might connect the analyst with the client to have more of a dialogue. That client which is a portfolio Manager would then decided whether to buy or sell the stock. If they decide to buy or sell the stock they will go to their trader. That trader then goes to someone in our division called a sales trader. That sales trader then provides quiddity to that client. And they provide the quiddity so that they don't move the market. Ultimately that's the life cycle of a basic trade in the equity division. My function, I'm the Global COO of Equity Distribution. I focus on client strategy and business development so I actually touch every aspect of every role that touches a client. My job is to make sure that we are delivering the clients the best of Morgan Stanley solutions in order to maximize the alpha for our clients and the revenue to Morgan Stanley. So I span the globe, I span the client segments and I span the product areas. I work with three distribution managers in each region to think about the clients, think about where our targets are, think about the products that we're going to grow. Ultimately I'm responsible for the client strategy. I also get involved in product development. So if I think that a product isn't performing well I will get in there, dig in, try to figure out how we can make more money, or maybe even decide that we are no longer going to be in that business.