Andrew Saperstein

Co-President, Morgan Stanley

Search every verified Andrew Saperstein interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Andrew Saperstein, Co-President of Morgan Stanley and head of its wealth management division, discussed the firm's growth strategy and market conditions in two CNBC appearances. In September 2022, he described Morgan Stanley's wealth management business as "a category of one" and said acquisitions had made the firm "a powerful player." He stated that the company had grown by $650 billion organically and expected to grow by a trillion dollars every three years, excluding market performance. Saperstein said the firm seeks acquisitions with good strategy and culture fit, and is also interested in integrating innovative fintech and tech organizations into its platform. He described investor sentiment during market volatility as "very rational" and said the role of wealth management is to help clients focus on life goals rather than short-term market moves. In May 2023, Saperstein expressed a cautious outlook on the economy, citing deteriorating fundamentals. He noted that M2 money supply had been negative for six months, consumer spending was down, credit availability was tightening, and leading economic indicators were dropping, leading him to expect an economic slowdown in the second half of the year. He said the firm had moved cash into bonds and that the market's performance was being driven by a narrow group of mega-cap tech stocks. Saperstein said he did not expect the Federal Reserve to raise rates further, but warned that resolution of the debt ceiling could lead to additional tightening through Treasury issuance and quantitative tightening.