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Morgan Stanley – ‘10-K’ for 12/31/23 – ‘EX-101.LAB’

On:  Thursday, 2/22/24, at 4:08pm ET   ·   For:  12/31/23   ·   Accession #:  895421-24-300   ·   File #:  1-11758

Previous ‘10-K’:  ‘10-K’ on 2/24/23 for 12/31/22   ·   Latest ‘10-K’:  This Filing   ·   51 References:   

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  As Of               Filer                 Filing    For·On·As Docs:Size

 2/22/24  Morgan Stanley                    10-K       12/31/23  224:45M

Annual Report   —   Form 10-K   —   SEA’34

Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                       HTML   9.43M 
 2: EX-4.1      Instrument Defining the Rights of Security Holders  HTML    232K 
 4: EX-10.20    Material Contract                                   HTML    169K 
 5: EX-10.21    Material Contract                                   HTML    146K 
 6: EX-10.22    Material Contract                                   HTML    222K 
 3: EX-10.4     Material Contract                                   HTML     65K 
 7: EX-21       Subsidiaries List                                   HTML     66K 
 8: EX-22       Published Report re: Matters Submitted to a Vote    HTML     63K 
                of Security Holders                                              
 9: EX-23.1     Consent of Expert or Counsel                        HTML     68K 
14: EX-97       Clawback Policy re: Recovery of Erroneously         HTML     95K 
                Awarded Compensation                                             
10: EX-31.1     Certification -- §302 - SOA'02                      HTML     67K 
11: EX-31.2     Certification -- §302 - SOA'02                      HTML     67K 
12: EX-32.1     Certification -- §906 - SOA'02                      HTML     63K 
13: EX-32.2     Certification -- §906 - SOA'02                      HTML     64K 
20: R1          Cover Page                                          HTML    160K 
21: R2          Audit Information                                   HTML     68K 
22: R3          Consolidated Income Statements                      HTML    176K 
23: R4          Consolidated Comprehensive Income Statement         HTML    107K 
24: R5          Consolidated Balance Sheet                          HTML    186K 
25: R6          Consolidated Balance Sheet (Parenthetical)          HTML    100K 
26: R7          Consolidated Statement of Changes in Total Equity   HTML    139K 
27: R8          Consolidated Cash Flow Statements                   HTML    175K 
28: R9          Introduction and Basis of Presentation              HTML     78K 
29: R10         Significant Accounting Policies                     HTML    171K 
30: R11         Cash and Cash Equivalents                           HTML     72K 
31: R12         Fair Values                                         HTML    810K 
32: R13         Fair Value Option                                   HTML    116K 
33: R14         Derivative Instruments and Hedging Activities       HTML    450K 
34: R15         Investment Securities                               HTML    257K 
35: R16         Collateralized Transactions                         HTML    183K 
36: R17         Loans, Lending Commitments and Related Allowance    HTML    524K 
                for Credit Losses                                                
37: R18         Goodwill and Intangible Assets                      HTML    136K 
38: R19         Other Assets - Equity Method Investments and        HTML    114K 
                Leases                                                           
39: R20         Deposits                                            HTML     90K 
40: R21         Borrowings and Other Secured Financings             HTML    178K 
41: R22         Commitments, Guarantees and Contingencies           HTML    183K 
42: R23         Variable Interest Entities and Securitization       HTML    297K 
                Activities                                                       
43: R24         Regulatory Requirements                             HTML    187K 
44: R25         Total Equity                                        HTML    344K 
45: R26         Interest Income and Interest Expense                HTML    101K 
46: R27         Deferred Compensation Plans and Carried Interest    HTML    143K 
                Compensation                                                     
47: R28         Employee Benefit Plans                              HTML    228K 
48: R29         Income Taxes                                        HTML    154K 
49: R30         Segment, Geographic and Revenue Information         HTML    294K 
50: R31         Parent Company                                      HTML    203K 
51: R32         Significant Accounting Policies (Policies)          HTML    232K 
52: R33         Significant Accounting Policies (Tables)            HTML     78K 
53: R34         Cash and Cash Equivalents (Tables)                  HTML     71K 
54: R35         Fair Values (Tables)                                HTML    987K 
55: R36         Fair Value Option (Tables)                          HTML    110K 
56: R37         Derivative Instruments and Hedging Activities       HTML    459K 
                (Tables)                                                         
57: R38         Investment Securities (Tables)                      HTML    260K 
58: R39         Collateralized Transactions (Tables)                HTML    188K 
59: R40         Loans, Lending Commitments and Related Allowance    HTML    527K 
                for Credit Losses (Tables)                                       
60: R41         Goodwill and Intangible Assets (Tables)             HTML    146K 
61: R42         Other Assets - Equity Method Investments and        HTML    119K 
                Leases (Tables)                                                  
62: R43         Deposits (Tables)                                   HTML     90K 
63: R44         Borrowings and Other Secured Financings (Tables)    HTML    180K 
64: R45         Commitments, Guarantees and Contingencies (Tables)  HTML    127K 
65: R46         Variable Interest Entities and Securitization       HTML    286K 
                Activities (Tables)                                              
66: R47         Regulatory Requirements (Tables)                    HTML    177K 
67: R48         Total Equity (Tables)                               HTML    399K 
68: R49         Interest Income and Interest Expense (Tables)       HTML    102K 
69: R50         Deferred Compensation Plans and Carried Interest    HTML    158K 
                Compensation (Tables)                                            
70: R51         Employee Benefit Plans (Tables)                     HTML    234K 
71: R52         Income Taxes (Tables)                               HTML    160K 
72: R53         Segment, Geographic and Revenue Information         HTML    303K 
                (Tables)                                                         
73: R54         Parent Company (Tables)                             HTML    204K 
74: R55         Significant Accounting Policies - Narrative         HTML     87K 
                (Details)                                                        
75: R56         Cash and Cash Equivalents - Summary (Details)       HTML     73K 
76: R57         Fair Values - Assets and Liabilities Measured at    HTML    255K 
                Fair Value on a Recurring Basis (Details)                        
77: R58         Fair Values - Detail of Loans and Lending           HTML     83K 
                Commitments at Fair Value and Unsettled Fair Value               
                of Futures Contracts (Details)                                   
78: R59         Fair Values - Activity of Level 3 Assets and        HTML    233K 
                Liabilities Measured at Fair Value on a Recurring                
                Basis (Details)                                                  
79: R60         Fair Values - Valuation Techniques and Sensitivity  HTML    347K 
                of Unobservable Inputs Used in Level 3 Fair Value                
                Measurements (Details)                                           
80: R61         Fair Values - Fund Interests Measured Based on Net  HTML     86K 
                Asset Value (Details)                                            
81: R62         Fair Values - Assets and Liabilities Measured at    HTML    109K 
                Fair Value on a Nonrecurring Basis (Details)                     
82: R63         Fair Values - Financial Instruments Not Measured    HTML    142K 
                at Fair Value (Details)                                          
83: R64         Fair Value Option - Borrowings Measured at Fair     HTML     79K 
                Value on a Recurring Basis (Details)                             
84: R65         Fair Value Option - Net Revenues from Borrowings    HTML     71K 
                under the Fair Value Option (Details)                            
85: R66         Fair Value Option - Gains (Losses) Due to Changes   HTML     82K 
                in Instrument-Specific Credit Risk (Details)                     
86: R67         Fair Value Option - Difference Between Contractual  HTML     69K 
                Principal and Fair Value (Details)                               
87: R68         Fair Value Option - Fair Value Loans on Nonaccrual  HTML     67K 
                Status (Details)                                                 
88: R69         Derivative Instruments and Hedging Activities -     HTML    219K 
                Fair Values of Derivative Contracts (Details)                    
89: R70         Derivative Instruments and Hedging Activities -     HTML    142K 
                Notionals of Derivative Contracts (Details)                      
90: R71         Derivative Instruments and Hedging Activities -     HTML    119K 
                Gains (Losses) on Accounting Hedges and Fair Value               
                Hedges (Details)                                                 
91: R72         Derivative Instruments and Hedging Activities -     HTML     68K 
                Gains (Losses) on Economic Loan Hedges (Details)                 
92: R73         Derivative Instruments and Hedging Activities -     HTML     77K 
                Credit Risk-Related Contingencies (Details)                      
93: R74         Derivative Instruments and Hedging Activities -     HTML    125K 
                Maximum Potential Payout/Notional of Credit                      
                Protection Sold (Details)                                        
94: R75         Derivative Instruments and Hedging Activities -     HTML     81K 
                Fair Value Asset/(Liability) of Credit Protection                
                Sold (Details)                                                   
95: R76         Derivative Instruments and Hedging Activities -     HTML     77K 
                Protection Purchased with CDS (Details)                          
96: R77         Investment Securities - AFS and HTM Securities      HTML    118K 
                (Details)                                                        
97: R78         Investment Securities - Investment Securities in    HTML    101K 
                an Unrealized Loss Position (Details)                            
98: R79         Investment Securities - Narrative (Details)         HTML     71K 
99: R80         Investment Securities - Investment Securities by    HTML    203K 
                Contractual Maturity (Details)                                   
100: R81         Investment Securities - Gross Realized Gains and    HTML     69K  
                Losses on Sales of AFS Securities (Details)                      
101: R82         Collateralized Transactions - Offsetting of         HTML    132K  
                Certain Collateralized Transactions (Details)                    
102: R83         Collateralized Transactions - Gross Secured         HTML    101K  
                Financing Balances (Details)                                     
103: R84         Collateralized Transactions - Assets Loaned or      HTML     71K  
                Pledged (Details)                                                
104: R85         Collateralized Transactions - Collateral Received   HTML     67K  
                (Details)                                                        
105: R86         Collateralized Transactions - Securities            HTML     64K  
                Segregated for Regulatory Purposes (Details)                     
106: R87         Collateralized Transactions - Concentration Based   HTML     73K  
                on the Firm's Total Assets (Details)                             
107: R88         Collateralized Transactions - Customer Margin and   HTML     64K  
                Other Lending (Details)                                          
108: R89         Collateralized Transactions - Narrative (Details)   HTML     64K  
109: R90         Loans, Lending Commitments and Related Allowance    HTML    110K  
                for Credit Losses - Loans by Type (Details)                      
110: R91         Loans, Lending Commitments and Related Allowance    HTML     80K  
                for Credit Losses - Loans by Interest Rate Type                  
                (Details)                                                        
111: R92         Loans, Lending Commitments and Related Allowance    HTML    168K  
                for Credit Losses - Loans Held for Investment                    
                before Allowance by Origination Year (Details)                   
112: R93         Loans, Lending Commitments and Related Allowance    HTML     85K  
                for Credit Losses - Past Due Status of Loans Held                
                for Investment before Allowance (Details)                        
113: R94         Loans, Lending Commitments and Related Allowance    HTML     78K  
                for Credit Losses - Nonaccrual Loans Held for                    
                Investment before Allowance (Details)                            
114: R95         Loans, Lending Commitments and Related Allowance    HTML     98K  
                for Credit Losses - Modified Loans Held for                      
                Investment (Details)                                             
115: R96         Loans, Lending Commitments and Related Allowance    HTML     84K  
                for Credit Losses - Past Due Status for Loans Held               
                for Investment Modified in the Last 12 Months                    
                (Details)                                                        
116: R97         Loans, Lending Commitments and Related Allowance    HTML     91K  
                for Credit Losses - Gross Charge-offs by                         
                Origination Year (Details)                                       
117: R98         Loans, Lending Commitments and Related Allowance    HTML    126K  
                for Credit Losses - Allowance for Credit Losses                  
                Rollforward - Loans and Lending Commitments                      
                (Details)                                                        
118: R99         Loans, Lending Commitments and Related Allowance    HTML     69K  
                for Credit Losses - Schedule of Selected Credit                  
                Ratios (Details)                                                 
119: R100        Loans, Lending Commitments and Related Allowance    HTML     77K  
                for Credit Losses - Employee Loans (Details)                     
120: R101        Goodwill and Intangible Assets - Goodwill           HTML     95K  
                Rollforward (Details)                                            
121: R102        Goodwill and Intangible Assets - Net Amortizable    HTML     85K  
                Intangible Assets Rollforward (Details)                          
122: R103        Goodwill and Intangible Assets - Gross Amortizable  HTML     81K  
                Intangible Assets by Type (Details)                              
123: R104        Goodwill and Intangible Assets - Intangible Assets  HTML     73K  
                Estimated Future Amortization Expense (Details)                  
124: R105        Other Assets - Equity Method Investments and        HTML     72K  
                Leases - Equity Method Investments (Details)                     
125: R106        Other Assets - Equity Method Investments and        HTML     70K  
                Leases - Investees (Details)                                     
126: R107        Other Assets - Equity Method Investments and        HTML     74K  
                Leases - Narrative (Details)                                     
127: R108        Other Assets - Equity Method Investments and        HTML     77K  
                Leases - Balance Sheet Amounts Related to Leases                 
                (Details)                                                        
128: R109        Other Assets - Equity Method Investments and        HTML     87K  
                Leases - Lease Liabilities (Details)                             
129: R110        Other Assets - Equity Method Investments and        HTML     72K  
                Leases - Lease Costs (Details)                                   
130: R111        Other Assets - Equity Method Investments and        HTML     67K  
                Leases - Cash Flows Statement Supplemental                       
                Information (Details)                                            
131: R112        Deposits - Summary (Details)                        HTML     72K  
132: R113        Deposits - Time Deposit Maturities (Details)        HTML     91K  
133: R114        Deposits - Deposits in U.S Banks from non-U.S.      HTML     64K  
                Depositors (Details)                                             
134: R115        Borrowings and Other Secured Financings -           HTML    119K  
                Maturities and Terms of Borrowings (Details)                     
135: R116        Borrowings and Other Secured Financings -           HTML     74K  
                Borrowings with Maturities Greater than One Year                 
                (Details)                                                        
136: R117        Borrowings and Other Secured Financings - Senior    HTML     74K  
                Debt Subject to Put Options or Liquidity                         
                Obligations (Details)                                            
137: R118        Borrowings and Other Secured Financings -           HTML     73K  
                Subordinated Debt (Details)                                      
138: R119        Borrowings and Other Secured Financings - Rates     HTML     66K  
                for Long-Term Borrowings (Details)                               
139: R120        Borrowings and Other Secured Financings - Other     HTML     70K  
                Secured Financings (Details)                                     
140: R121        Borrowings and Other Secured Financings -           HTML    107K  
                Maturities and Terms of Secured Financings                       
                (Details)                                                        
141: R122        Borrowings and Other Secured Financings - Failed    HTML     81K  
                Sales by Maturity (Details)                                      
142: R123        Commitments, Guarantees and Contingencies -         HTML     99K  
                Commitments (Details)                                            
143: R124        Commitments, Guarantees and Contingencies -         HTML    124K  
                Obligations under Guarantee Arrangements (Details)               
144: R125        Commitments, Guarantees and Contingencies - Legal   HTML     64K  
                Expenses (Details)                                               
145: R126        Commitments, Guarantees and Contingencies -         HTML    114K  
                Narrative (Details)                                              
146: R127        Variable Interest Entities and Securitization       HTML     94K  
                Activities - Assets and Liabilities by Type of                   
                Activity (Details)                                               
147: R128        Variable Interest Entities and Securitization       HTML    110K  
                Activities - Assets and Liabilities by Balance                   
                Sheet Caption (Details)                                          
148: R129        Variable Interest Entities and Securitization       HTML    153K  
                Activities - Non-Consolidated VIEs (Details)                     
149: R130        Variable Interest Entities and Securitization       HTML     93K  
                Activities - Mortgage and Asset Backed                           
                Securitization Assets (Details)                                  
150: R131        Variable Interest Entities and Securitization       HTML    119K  
                Activities - Transfers of Assets with Continuing                 
                Involvement (Details)                                            
151: R132        Variable Interest Entities and Securitization       HTML    105K  
                Activities - Fair Value of Transfers of Assets                   
                with Continuing Involvement (Details)                            
152: R133        Variable Interest Entities and Securitization       HTML     73K  
                Activities - Proceeds from New Securitization                    
                Transactions and Sales of Loans (Details)                        
153: R134        Variable Interest Entities and Securitization       HTML     78K  
                Activities - Assets Sold with Retained Exposure                  
                (Details)                                                        
154: R135        Regulatory Requirements - Capital Buffer            HTML     86K  
                Requirements (Details)                                           
155: R136        Regulatory Requirements - Narrative (Details)       HTML     73K  
156: R137        Regulatory Requirements - Risk-Based Regulatory     HTML     84K  
                Capital Ratio Requirements (Details)                             
157: R138        Regulatory Requirements - The Firm's Regulatory     HTML     98K  
                Capital and Capital Ratios (Details)                             
158: R139        Regulatory Requirements - U.S. Bank Subsidiaries'   HTML    125K  
                Regulatory Capital and Capital Ratios (Details)                  
159: R140        Regulatory Requirements - U.S. Broker-Dealer        HTML     68K  
                Regulatory Capital Requirements (Details)                        
160: R141        Regulatory Requirements - Restrictions on Payments  HTML     64K  
                (Details)                                                        
161: R142        Total Equity - Preferred Stock Outstanding          HTML    108K  
                (Details)                                                        
162: R143        Total Equity - Preferred Stock Issuance             HTML    116K  
                Description (Details)                                            
163: R144        Total Equity - Rollforward of Common Stock          HTML     72K  
                Outstanding (Details)                                            
164: R145        Total Equity - Share Repurchases (Details)          HTML     66K  
165: R146        Total Equity - Narrative (Details)                  HTML     64K  
166: R147        Total Equity - Reconciliation of Common Shares      HTML     72K  
                Outstanding for Basic and Diluted EPS (Details)                  
167: R148        Total Equity - Dividends (Details)                  HTML    106K  
168: R149        Total Equity - Accumulated Other Comprehensive      HTML     99K  
                Income (Loss) (Details)                                          
169: R150        Total Equity - Components of Period Changes in OCI  HTML    160K  
                (Details)                                                        
170: R151        Total Equity - Cumulative Foreign Currency          HTML     72K  
                Translation Adjustments (Details)                                
171: R152        Interest Income and Interest Expense - Summary      HTML     98K  
                (Details)                                                        
172: R153        Interest Income and Interest Expense - Accrued      HTML     67K  
                Interest (Details)                                               
173: R154        Deferred Compensation Plans and Carried Interest    HTML     82K  
                Compensation - Stock-based Compensation Plans                    
                (Details)                                                        
174: R155        Deferred Compensation Plans and Carried Interest    HTML     65K  
                Compensation - Tax Benefit Related to Stock-Based                
                Compensation Expense (Details)                                   
175: R156        Deferred Compensation Plans and Carried Interest    HTML     72K  
                Compensation - Unrecognized Compensation Cost                    
                Related to Stock-Based Awards Granted (Details)                  
176: R157        Deferred Compensation Plans and Carried Interest    HTML     65K  
                Compensation - Common Shares Available for Future                
                Awards under Stock-Based Compensation Plans                      
                (Details)                                                        
177: R158        Deferred Compensation Plans and Carried Interest    HTML    107K  
                Compensation - Vested and Unvested RSU Activity                  
                (Details)                                                        
178: R159        Deferred Compensation Plans and Carried Interest    HTML     88K  
                Compensation - Unvested RSU Activity (Details)                   
179: R160        Deferred Compensation Plans and Carried Interest    HTML     76K  
                Compensation - Fair Value of RSU Activity                        
                (Details)                                                        
180: R161        Deferred Compensation Plans and Carried Interest    HTML     82K  
                Compensation - Narrative (Details)                               
181: R162        Deferred Compensation Plans and Carried Interest    HTML     79K  
                Compensation - PSU Awards Fair Value on Award Date               
                (Details)                                                        
182: R163        Deferred Compensation Plans and Carried Interest    HTML     68K  
                Compensation - Monte Carlo Simulation Assumptions                
                (Details)                                                        
183: R164        Deferred Compensation Plans and Carried Interest    HTML     71K  
                Compensation - Deferred Cash-Based Compensation                  
                Expense (Details)                                                
184: R165        Deferred Compensation Plans and Carried Interest    HTML     65K  
                Compensation - Carried Interest Compensation                     
                Expense (Details)                                                
185: R166        Employee Benefit Plans - Net Periodic Benefit       HTML     85K  
                Expense (Income) (Details)                                       
186: R167        Employee Benefit Plans - Rollforward of Pre-tax     HTML     83K  
                AOCI (Details)                                                   
187: R168        Employee Benefit Plans - Weighted Average           HTML     69K  
                Assumptions Used to Determine Net Periodic Benefit               
                Expense (Income) (Details)                                       
188: R169        Employee Benefit Plans - Rollforward of the         HTML    116K  
                Benefit Obligation and Fair Value of Plan Assets                 
                (Details)                                                        
189: R170        Employee Benefit Plans - Accumulated Benefit        HTML     66K  
                Obligation (Details)                                             
190: R171        Employee Benefit Plans - Pension Plans with         HTML     72K  
                Projected Benefit Obligations in Excess of the                   
                Fair Value of Plan Assets (Details)                              
191: R172        Employee Benefit Plans - Weighted Average           HTML     66K  
                Assumptions Used to Determine Benefit Obligation                 
                (Details)                                                        
192: R173        Employee Benefit Plans - Fair Value of Plan Assets  HTML    138K  
                (Details)                                                        
193: R174        Employee Benefit Plans - Rollforward of Level 3     HTML     76K  
                Plan Assets (Details)                                            
194: R175        Employee Benefit Plans - Narrative (Details)        HTML     79K  
195: R176        Employee Benefit Plans - Expected Future Benefit    HTML     76K  
                Payments (Details)                                               
196: R177        Employee Benefit Plans - 401(k) and Defined         HTML     69K  
                Contribution Pension Plans (Details)                             
197: R178        Income Taxes - Components of Provision for          HTML    104K  
                (Benefit from) Income Taxes (Details)                            
198: R179        Income Taxes - Effective Income Tax Rate (Details)  HTML     83K  
199: R180        Income Taxes - Deferred Tax Assets and Liabilities  HTML     90K  
                (Details)                                                        
200: R181        Income Taxes - Narrative (Details)                  HTML     65K  
201: R182        Income Taxes - Rollforward of Unrecognized Tax      HTML     79K  
                Benefits (Details)                                               
202: R183        Income Taxes - Interest Expense (Benefit), Net of   HTML     66K  
                Federal and State Income Tax Benefits (Details)                  
203: R184        Segment, Geographic and Revenue Information -       HTML    173K  
                Selected Financial Information by Business Segment               
                (Details)                                                        
204: R185        Segment, Geographic and Revenue Information -       HTML     75K  
                Institutional Securities - Investment Banking                    
                Revenues (Details)                                               
205: R186        Segment, Geographic and Revenue Information -       HTML     79K  
                Trading Revenues by Product Type (Details)                       
206: R187        Segment, Geographic and Revenue Information -       HTML     64K  
                Investment Management Investments Revenues - Net                 
                Unrealized Carried Interest (Details)                            
207: R188        Segment, Geographic and Revenue Information -       HTML     64K  
                Investment Management Asset Management Revenues -                
                Reduction of Fees due to Fee Waivers (Details)                   
208: R189        Segment, Geographic and Revenue Information -       HTML     64K  
                Other Expenses - Transaction Taxes (Details)                     
209: R190        Segment, Geographic and Revenue Information - Net   HTML     73K  
                Revenues by Region (Details)                                     
210: R191        Segment, Geographic and Revenue Information -       HTML     72K  
                Income from Continuing Operations before Income                  
                Tax Expense (Benefit) (Details)                                  
211: R192        Segment, Geographic and Revenue Information -       HTML     65K  
                Revenue Recognized from Prior Services (Details)                 
212: R193        Segment, Geographic and Revenue Information -       HTML     65K  
                Receivables from Contracts with Customers                        
                (Details)                                                        
213: R194        Segment, Geographic and Revenue Information -       HTML     78K  
                Assets by Business Segment (Details)                             
214: R195        Segment, Geographic and Revenue Information -       HTML     78K  
                Assets by Region (Details)                                       
215: R196        Parent Company - Condensed Income Statements and    HTML    148K  
                Comprehensive Income Statements (Details)                        
216: R197        Parent Company - Condensed Balance Sheets           HTML    203K  
                (Details)                                                        
217: R198        Parent Company - Condensed Cash Flow Statements     HTML    146K  
                (Details)                                                        
218: R199        Parent Company - Parent Company's Borrowings with   HTML     81K  
                Original Maturities Greater than One Year                        
                (Details)                                                        
219: R200        Parent Company - Guarantees (Details)               HTML     71K  
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‘EX-101.LAB’   —   XBRL Labels — ms-20231231_lab


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<link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTerseLabel"/>
<link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedPeriodEndLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodEndLabel"/>
<link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedLabel"/>
<link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTotalLabel"/>
<link:labelLink xlink:role="http://www.xbrl.org/2003/role/link" xlink:type="extended">
<link:label id="lab_us-gaap_ProceedsFromSaleOfAvailableForSaleSecuritiesDebt_f6a9bb38-2c87-4f73-b757-daa64e30a59f_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromSaleOfAvailableForSaleSecuritiesDebt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Proceeds from sales </link:label>
<link:label id="lab_us-gaap_ProceedsFromSaleOfAvailableForSaleSecuritiesDebt_label_en-US" xlink:label="lab_us-gaap_ProceedsFromSaleOfAvailableForSaleSecuritiesDebt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Proceeds from Sale of Debt Securities, Available-for-Sale </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromSaleOfAvailableForSaleSecuritiesDebt" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ProceedsFromSaleOfAvailableForSaleSecuritiesDebt"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromSaleOfAvailableForSaleSecuritiesDebt" xlink:to="lab_us-gaap_ProceedsFromSaleOfAvailableForSaleSecuritiesDebt" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_TransferOfFinancialAssetsAccountedForAsSalesFairValueOfDerecognizedAssets_4aea3e23-c4bd-42d8-a624-6630f0d4f2ef_terseLabel_en-US" xlink:label="lab_us-gaap_TransferOfFinancialAssetsAccountedForAsSalesFairValueOfDerecognizedAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Assets sold </link:label>
<link:label id="lab_us-gaap_TransferOfFinancialAssetsAccountedForAsSalesFairValueOfDerecognizedAssets_label_en-US" xlink:label="lab_us-gaap_TransferOfFinancialAssetsAccountedForAsSalesFairValueOfDerecognizedAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Transfer of Financial Assets Accounted for as Sales, Fair Value of Derecognized Assets </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_TransferOfFinancialAssetsAccountedForAsSalesFairValueOfDerecognizedAssets" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_TransferOfFinancialAssetsAccountedForAsSalesFairValueOfDerecognizedAssets"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TransferOfFinancialAssetsAccountedForAsSalesFairValueOfDerecognizedAssets" xlink:to="lab_us-gaap_TransferOfFinancialAssetsAccountedForAsSalesFairValueOfDerecognizedAssets" xlink:type="arc" order="1"/>
<link:label id="lab_srt_FinancingReceivableAllowanceForCreditLossToNonaccrualPercent_ae7c7b1f-a147-4e0b-ab9b-91e2b9f5d87a_terseLabel_en-US" xlink:label="lab_srt_FinancingReceivableAllowanceForCreditLossToNonaccrualPercent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> ACL for loans to nonaccrual HFI loans </link:label>
<link:label id="lab_srt_FinancingReceivableAllowanceForCreditLossToNonaccrualPercent_label_en-US" xlink:label="lab_srt_FinancingReceivableAllowanceForCreditLossToNonaccrualPercent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financing Receivable, Allowance for Credit Loss to Nonaccrual, Percent </link:label>
<link:loc xlink:type="locator" xlink:label="loc_srt_FinancingReceivableAllowanceForCreditLossToNonaccrualPercent" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_FinancingReceivableAllowanceForCreditLossToNonaccrualPercent"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_FinancingReceivableAllowanceForCreditLossToNonaccrualPercent" xlink:to="lab_srt_FinancingReceivableAllowanceForCreditLossToNonaccrualPercent" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_LossContingencyDamagesAwardedValue_af4a01aa-117e-4f93-90c3-28a35472a401_terseLabel_en-US" xlink:label="lab_us-gaap_LossContingencyDamagesAwardedValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Damages paid </link:label>
<link:label id="lab_us-gaap_LossContingencyDamagesAwardedValue_label_en-US" xlink:label="lab_us-gaap_LossContingencyDamagesAwardedValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Loss Contingency, Damages Awarded, Value </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LossContingencyDamagesAwardedValue" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LossContingencyDamagesAwardedValue"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LossContingencyDamagesAwardedValue" xlink:to="lab_us-gaap_LossContingencyDamagesAwardedValue" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_a04ac05e-8005-46d7-bcc5-a8dd52cd3cde_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Changes in assets and liabilities: </link:label>
<link:label id="lab_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Increase (Decrease) in Operating Capital [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_IncreaseDecreaseInOperatingCapitalAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:to="lab_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_ms_FairValueOptionAggregateDifferencesDebt_a2e993b4-b0e2-4339-b590-78999ca72b22_negatedTerseLabel_en-US" xlink:label="lab_ms_FairValueOptionAggregateDifferencesDebt" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Borrowings </link:label>
<link:label id="lab_ms_FairValueOptionAggregateDifferencesDebt_label_en-US" xlink:label="lab_ms_FairValueOptionAggregateDifferencesDebt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value Option Aggregate Differences Debt </link:label>
<link:label id="lab_ms_FairValueOptionAggregateDifferencesDebt_documentation_en-US" xlink:label="lab_ms_FairValueOptionAggregateDifferencesDebt" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> This item represents the difference between the aggregate fair value and the aggregate unpaid principal balance of debt instruments that have contractual principal amounts and for which the fair value option has been elected. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_FairValueOptionAggregateDifferencesDebt" xlink:href="ms-20231231.xsd#ms_FairValueOptionAggregateDifferencesDebt"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_FairValueOptionAggregateDifferencesDebt" xlink:to="lab_ms_FairValueOptionAggregateDifferencesDebt" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_InterestIncomeOther_2c815a0a-2a09-4390-9841-fc607d93c82c_terseLabel_en-US" xlink:label="lab_us-gaap_InterestIncomeOther" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Customer receivables and Other </link:label>
<link:label id="lab_us-gaap_InterestIncomeOther_label_en-US" xlink:label="lab_us-gaap_InterestIncomeOther" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Interest Income, Other </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestIncomeOther" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_InterestIncomeOther"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestIncomeOther" xlink:to="lab_us-gaap_InterestIncomeOther" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetIssues_bd4d3213-3769-4590-93b2-f9790b18fe55_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetIssues" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Issuances </link:label>
<link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetIssues_label_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetIssues" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issuances </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetIssues" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetIssues"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetIssues" xlink:to="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetIssues" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_e7e6e1e1-1671-463d-928c-e73136025edd_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Award Type [Domain] </link:label>
<link:label id="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Award Type [Domain] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_SecuritiesBorrowed_d78f1f76-40fd-4efc-8b6b-f5dec5536351_terseLabel_en-US" xlink:label="lab_us-gaap_SecuritiesBorrowed" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Securities borrowed </link:label>
<link:label id="lab_us-gaap_SecuritiesBorrowed_3115a777-25f3-4cf0-8104-d8e71e247b8e_totalLabel_en-US" xlink:label="lab_us-gaap_SecuritiesBorrowed" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Balance Sheet Net Amounts </link:label>
<link:label id="lab_us-gaap_SecuritiesBorrowed_label_en-US" xlink:label="lab_us-gaap_SecuritiesBorrowed" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Securities Borrowed </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_SecuritiesBorrowed" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SecuritiesBorrowed"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SecuritiesBorrowed" xlink:to="lab_us-gaap_SecuritiesBorrowed" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_InvestmentInPhysicalCommoditiesFairValueDisclosure_da19465c-ccce-449c-89fa-41740615ef0b_terseLabel_en-US" xlink:label="lab_us-gaap_InvestmentInPhysicalCommoditiesFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Physical commodities </link:label>
<link:label id="lab_us-gaap_InvestmentInPhysicalCommoditiesFairValueDisclosure_label_en-US" xlink:label="lab_us-gaap_InvestmentInPhysicalCommoditiesFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Investment in Physical Commodities, Fair Value Disclosure </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_InvestmentInPhysicalCommoditiesFairValueDisclosure" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_InvestmentInPhysicalCommoditiesFairValueDisclosure"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InvestmentInPhysicalCommoditiesFairValueDisclosure" xlink:to="lab_us-gaap_InvestmentInPhysicalCommoditiesFairValueDisclosure" xlink:type="arc" order="1"/>
<link:label id="lab_ms_TradingAssetsFairValueDisclosure_58366646-dc3e-497d-9a42-282ced1d2eac_terseLabel_en-US" xlink:label="lab_ms_TradingAssetsFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Trading assets at fair value ($162,698 and $124,411 were pledged to various parties) </link:label>
<link:label id="lab_ms_TradingAssetsFairValueDisclosure_ab2970fa-4148-4a01-bf05-4c456fe467fa_totalLabel_en-US" xlink:label="lab_ms_TradingAssetsFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Total trading assets </link:label>
<link:label id="lab_ms_TradingAssetsFairValueDisclosure_3ddaed17-177a-430a-943a-18129e5c4445_verboseLabel_en-US" xlink:label="lab_ms_TradingAssetsFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Trading assets </link:label>
<link:label id="lab_ms_TradingAssetsFairValueDisclosure_label_en-US" xlink:label="lab_ms_TradingAssetsFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Trading Assets, Fair Value Disclosure </link:label>
<link:label id="lab_ms_TradingAssetsFairValueDisclosure_documentation_en-US" xlink:label="lab_ms_TradingAssetsFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair value portion of assets pertaining to principal and customer trading transactions, or which may be incurred with the objective of generating a profit from short- term fluctuations in price as part of an entity's market-making, hedging and proprietary trading. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_TradingAssetsFairValueDisclosure" xlink:href="ms-20231231.xsd#ms_TradingAssetsFairValueDisclosure"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_TradingAssetsFairValueDisclosure" xlink:to="lab_ms_TradingAssetsFairValueDisclosure" xlink:type="arc" order="1"/>
<link:label id="lab_ms_EmployeeBenefitPlansParticipantsAxis_048b2118-2ea5-4a64-9758-96f827df2a1d_terseLabel_en-US" xlink:label="lab_ms_EmployeeBenefitPlansParticipantsAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Employee Benefit Plans Participants [Axis] </link:label>
<link:label id="lab_ms_EmployeeBenefitPlansParticipantsAxis_label_en-US" xlink:label="lab_ms_EmployeeBenefitPlansParticipantsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Employee Benefit Plans Participants [Axis] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_EmployeeBenefitPlansParticipantsAxis" xlink:href="ms-20231231.xsd#ms_EmployeeBenefitPlansParticipantsAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_EmployeeBenefitPlansParticipantsAxis" xlink:to="lab_ms_EmployeeBenefitPlansParticipantsAxis" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue_bc097dc9-b474-434e-a32f-25f92d6e5027_periodStartLabel_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Beginning balance </link:label>
<link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue_31783bc5-8594-42e4-b5ee-a3eed17f1bc8_periodEndLabel_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Ending balance </link:label>
<link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue_label_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue" xlink:to="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue" xlink:type="arc" order="1"/>
<link:label id="lab_ms_InterestExpenseSecuritiesLoaned_57f9931f-761a-4194-8123-dc1092053eb8_terseLabel_en-US" xlink:label="lab_ms_InterestExpenseSecuritiesLoaned" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Securities loaned </link:label>
<link:label id="lab_ms_InterestExpenseSecuritiesLoaned_label_en-US" xlink:label="lab_ms_InterestExpenseSecuritiesLoaned" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Interest Expense, Securities Loaned </link:label>
<link:label id="lab_ms_InterestExpenseSecuritiesLoaned_documentation_en-US" xlink:label="lab_ms_InterestExpenseSecuritiesLoaned" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Interest Expense, Securities Loaned </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_InterestExpenseSecuritiesLoaned" xlink:href="ms-20231231.xsd#ms_InterestExpenseSecuritiesLoaned"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_InterestExpenseSecuritiesLoaned" xlink:to="lab_ms_InterestExpenseSecuritiesLoaned" xlink:type="arc" order="1"/>
<link:label id="lab_ms_ScheduleOfTradingRevenuesByProductTypeTableTextBlock_f83500f3-f91a-40bd-9806-27f1e40a2401_terseLabel_en-US" xlink:label="lab_ms_ScheduleOfTradingRevenuesByProductTypeTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Trading Revenues by Product Type </link:label>
<link:label id="lab_ms_ScheduleOfTradingRevenuesByProductTypeTableTextBlock_label_en-US" xlink:label="lab_ms_ScheduleOfTradingRevenuesByProductTypeTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Trading Revenues by Product Type [Table Text Block] </link:label>
<link:label id="lab_ms_ScheduleOfTradingRevenuesByProductTypeTableTextBlock_documentation_en-US" xlink:label="lab_ms_ScheduleOfTradingRevenuesByProductTypeTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Tabular disclosure of trading revenues by product or group of similar products. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_ScheduleOfTradingRevenuesByProductTypeTableTextBlock" xlink:href="ms-20231231.xsd#ms_ScheduleOfTradingRevenuesByProductTypeTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_ScheduleOfTradingRevenuesByProductTypeTableTextBlock" xlink:to="lab_ms_ScheduleOfTradingRevenuesByProductTypeTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DisaggregationOfRevenueLineItems_24070714-8056-4b8a-b8e5-197c61a517ad_terseLabel_en-US" xlink:label="lab_us-gaap_DisaggregationOfRevenueLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Disaggregation of Revenue </link:label>
<link:label id="lab_us-gaap_DisaggregationOfRevenueLineItems_label_en-US" xlink:label="lab_us-gaap_DisaggregationOfRevenueLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Disaggregation of Revenue [Line Items] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DisaggregationOfRevenueLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DisaggregationOfRevenueLineItems"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DisaggregationOfRevenueLineItems" xlink:to="lab_us-gaap_DisaggregationOfRevenueLineItems" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFive_17c33cf4-6e48-4bdb-8e6a-f6a0b7b6a70d_terseLabel_en-US" xlink:label="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFive" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Year Five </link:label>
<link:label id="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFive_label_en-US" xlink:label="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFive" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Lessee, Operating Lease, Liability, to be Paid, Year Five </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFive" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFive"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFive" xlink:to="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFive" xlink:type="arc" order="1"/>
<link:label id="lab_ms_DerivativeCreditRiskRelatedContingentFeaturesTriggeringCircumstancesOneNotchCreditRatingDowngradeMember_384de841-517c-4fbb-896e-40d74226d063_terseLabel_en-US" xlink:label="lab_ms_DerivativeCreditRiskRelatedContingentFeaturesTriggeringCircumstancesOneNotchCreditRatingDowngradeMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> One-notch downgrade </link:label>
<link:label id="lab_ms_DerivativeCreditRiskRelatedContingentFeaturesTriggeringCircumstancesOneNotchCreditRatingDowngradeMember_label_en-US" xlink:label="lab_ms_DerivativeCreditRiskRelatedContingentFeaturesTriggeringCircumstancesOneNotchCreditRatingDowngradeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative, Credit Risk Related Contingent Features, Triggering Circumstances, One-notch Credit Rating Downgrade [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_DerivativeCreditRiskRelatedContingentFeaturesTriggeringCircumstancesOneNotchCreditRatingDowngradeMember" xlink:href="ms-20231231.xsd#ms_DerivativeCreditRiskRelatedContingentFeaturesTriggeringCircumstancesOneNotchCreditRatingDowngradeMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_DerivativeCreditRiskRelatedContingentFeaturesTriggeringCircumstancesOneNotchCreditRatingDowngradeMember" xlink:to="lab_ms_DerivativeCreditRiskRelatedContingentFeaturesTriggeringCircumstancesOneNotchCreditRatingDowngradeMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_CreditDerivativesSellingProtectionMember_9703fc4f-b04c-490f-910e-1c563302c4cb_terseLabel_en-US" xlink:label="lab_ms_CreditDerivativesSellingProtectionMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Credit Protection Sold </link:label>
<link:label id="lab_ms_CreditDerivativesSellingProtectionMember_label_en-US" xlink:label="lab_ms_CreditDerivativesSellingProtectionMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Credit Derivatives, Selling Protection [Member] </link:label>
<link:label id="lab_ms_CreditDerivativesSellingProtectionMember_documentation_en-US" xlink:label="lab_ms_CreditDerivativesSellingProtectionMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> A credit derivative in which one party makes periodic payments to the other and receives the promise of a pay-off if a third party defaults. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_CreditDerivativesSellingProtectionMember" xlink:href="ms-20231231.xsd#ms_CreditDerivativesSellingProtectionMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_CreditDerivativesSellingProtectionMember" xlink:to="lab_ms_CreditDerivativesSellingProtectionMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_StockholdersEquityNoteDisclosureTextBlock_ceab8f38-419e-44a5-8328-58cfa228fbec_terseLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityNoteDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Total Equity </link:label>
<link:label id="lab_us-gaap_StockholdersEquityNoteDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_StockholdersEquityNoteDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Equity [Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquityNoteDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_StockholdersEquityNoteDisclosureTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockholdersEquityNoteDisclosureTextBlock" xlink:to="lab_us-gaap_StockholdersEquityNoteDisclosureTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DefinedBenefitPlanPlansWithBenefitObligationsInExcessOfPlanAssetsAbstract_0ea79804-3b9a-4244-887e-629d57b013da_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanPlansWithBenefitObligationsInExcessOfPlanAssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Pension Plans with Benefit Obligations in Excess of the Fair Value of Plan Assets </link:label>
<link:label id="lab_us-gaap_DefinedBenefitPlanPlansWithBenefitObligationsInExcessOfPlanAssetsAbstract_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanPlansWithBenefitObligationsInExcessOfPlanAssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Defined Benefit Plan, Pension Plan with Project Benefit Obligation in Excess of Plan Assets [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanPlansWithBenefitObligationsInExcessOfPlanAssetsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DefinedBenefitPlanPlansWithBenefitObligationsInExcessOfPlanAssetsAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanPlansWithBenefitObligationsInExcessOfPlanAssetsAbstract" xlink:to="lab_us-gaap_DefinedBenefitPlanPlansWithBenefitObligationsInExcessOfPlanAssetsAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_VariableInterestEntityLineItems_91e4ef36-0fea-4470-a265-d117e52a726a_terseLabel_en-US" xlink:label="lab_us-gaap_VariableInterestEntityLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Variable Interest Entity </link:label>
<link:label id="lab_us-gaap_VariableInterestEntityLineItems_label_en-US" xlink:label="lab_us-gaap_VariableInterestEntityLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Variable Interest Entity [Line Items] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_VariableInterestEntityLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_VariableInterestEntityLineItems"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_VariableInterestEntityLineItems" xlink:to="lab_us-gaap_VariableInterestEntityLineItems" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_SubordinatedDebtMember_ec6afd18-5c8b-4b77-abf7-b46bd261c003_terseLabel_en-US" xlink:label="lab_us-gaap_SubordinatedDebtMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Subordinated Debt </link:label>
<link:label id="lab_us-gaap_SubordinatedDebtMember_label_en-US" xlink:label="lab_us-gaap_SubordinatedDebtMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Subordinated Debt [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_SubordinatedDebtMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SubordinatedDebtMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubordinatedDebtMember" xlink:to="lab_us-gaap_SubordinatedDebtMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_CreditDefaultSwapModelMember_5932fb9d-1239-4779-abce-8d1635ab160f_terseLabel_en-US" xlink:label="lab_ms_CreditDefaultSwapModelMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Credit Default Swap Model </link:label>
<link:label id="lab_ms_CreditDefaultSwapModelMember_label_en-US" xlink:label="lab_ms_CreditDefaultSwapModelMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Credit Default Swap Model [Member] </link:label>
<link:label id="lab_ms_CreditDefaultSwapModelMember_documentation_en-US" xlink:label="lab_ms_CreditDefaultSwapModelMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Credit Default Swap Model [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_CreditDefaultSwapModelMember" xlink:href="ms-20231231.xsd#ms_CreditDefaultSwapModelMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_CreditDefaultSwapModelMember" xlink:to="lab_ms_CreditDefaultSwapModelMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DeferredFederalIncomeTaxExpenseBenefit_dddf002c-cc28-4859-8926-b678c8f0abc1_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredFederalIncomeTaxExpenseBenefit" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> U.S. federal </link:label>
<link:label id="lab_us-gaap_DeferredFederalIncomeTaxExpenseBenefit_label_en-US" xlink:label="lab_us-gaap_DeferredFederalIncomeTaxExpenseBenefit" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Deferred Federal Income Tax Expense (Benefit) </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredFederalIncomeTaxExpenseBenefit" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DeferredFederalIncomeTaxExpenseBenefit"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredFederalIncomeTaxExpenseBenefit" xlink:to="lab_us-gaap_DeferredFederalIncomeTaxExpenseBenefit" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_GoodwillImpairedAccumulatedImpairmentLoss_ef0fd7e1-b49c-4450-a8b9-46cd46a2c1c5_terseLabel_en-US" xlink:label="lab_us-gaap_GoodwillImpairedAccumulatedImpairmentLoss" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Accumulated impairments </link:label>
<link:label id="lab_us-gaap_GoodwillImpairedAccumulatedImpairmentLoss_label_en-US" xlink:label="lab_us-gaap_GoodwillImpairedAccumulatedImpairmentLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Goodwill, Impaired, Accumulated Impairment Loss </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_GoodwillImpairedAccumulatedImpairmentLoss" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_GoodwillImpairedAccumulatedImpairmentLoss"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GoodwillImpairedAccumulatedImpairmentLoss" xlink:to="lab_us-gaap_GoodwillImpairedAccumulatedImpairmentLoss" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FairValueOptionAggregateDifferencesLoansAndLongTermReceivables_38aff0a7-6b1f-4dff-b839-4f98d8844007_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueOptionAggregateDifferencesLoansAndLongTermReceivables" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Loans and other receivables </link:label>
<link:label id="lab_us-gaap_FairValueOptionAggregateDifferencesLoansAndLongTermReceivables_label_en-US" xlink:label="lab_us-gaap_FairValueOptionAggregateDifferencesLoansAndLongTermReceivables" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value, Option, Aggregate Differences, Loans and Long-Term Receivables </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueOptionAggregateDifferencesLoansAndLongTermReceivables" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueOptionAggregateDifferencesLoansAndLongTermReceivables"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueOptionAggregateDifferencesLoansAndLongTermReceivables" xlink:to="lab_us-gaap_FairValueOptionAggregateDifferencesLoansAndLongTermReceivables" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_SubsequentEventTypeDomain_113fb826-fbe0-4a56-b6d1-5d4192f40062_terseLabel_en-US" xlink:label="lab_us-gaap_SubsequentEventTypeDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Subsequent Event Type [Domain] </link:label>
<link:label id="lab_us-gaap_SubsequentEventTypeDomain_label_en-US" xlink:label="lab_us-gaap_SubsequentEventTypeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Subsequent Event Type [Domain] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_SubsequentEventTypeDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SubsequentEventTypeDomain"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsequentEventTypeDomain" xlink:to="lab_us-gaap_SubsequentEventTypeDomain" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DerivativeInstrumentsGainLossLineItems_9f80fe1e-9255-4117-b6a0-e783ba2b4abb_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentsGainLossLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivatives </link:label>
<link:label id="lab_us-gaap_DerivativeInstrumentsGainLossLineItems_label_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentsGainLossLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative Instruments, Gain (Loss) [Line Items] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeInstrumentsGainLossLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DerivativeInstrumentsGainLossLineItems"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeInstrumentsGainLossLineItems" xlink:to="lab_us-gaap_DerivativeInstrumentsGainLossLineItems" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_EarningsPerShareDiluted_9008f353-c949-4684-8a0b-7fc1f7e6197f_terseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerShareDiluted" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Earnings per common share - diluted (in dollars per share) </link:label>
<link:label id="lab_us-gaap_EarningsPerShareDiluted_label_en-US" xlink:label="lab_us-gaap_EarningsPerShareDiluted" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Earnings Per Share, Diluted </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_EarningsPerShareDiluted" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_EarningsPerShareDiluted"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EarningsPerShareDiluted" xlink:to="lab_us-gaap_EarningsPerShareDiluted" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DebtSecuritiesHeldToMaturityAllowanceForCreditLossExcludingAccruedInterest_07284d87-d336-4e4c-ab80-cc3639f861be_terseLabel_en-US" xlink:label="lab_us-gaap_DebtSecuritiesHeldToMaturityAllowanceForCreditLossExcludingAccruedInterest" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Allowance for credit loss related to held-to-maturity securities </link:label>
<link:label id="lab_us-gaap_DebtSecuritiesHeldToMaturityAllowanceForCreditLossExcludingAccruedInterest_label_en-US" xlink:label="lab_us-gaap_DebtSecuritiesHeldToMaturityAllowanceForCreditLossExcludingAccruedInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt Securities, Held-to-Maturity, Allowance for Credit Loss, Excluding Accrued Interest </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtSecuritiesHeldToMaturityAllowanceForCreditLossExcludingAccruedInterest" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DebtSecuritiesHeldToMaturityAllowanceForCreditLossExcludingAccruedInterest"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtSecuritiesHeldToMaturityAllowanceForCreditLossExcludingAccruedInterest" xlink:to="lab_us-gaap_DebtSecuritiesHeldToMaturityAllowanceForCreditLossExcludingAccruedInterest" xlink:type="arc" order="1"/>
<link:label id="lab_ms_PreferredStockCarryingValue_f4cb526f-cd83-42a6-864f-276b9f16ac58_terseLabel_en-US" xlink:label="lab_ms_PreferredStockCarryingValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Preferred stock </link:label>
<link:label id="lab_ms_PreferredStockCarryingValue_label_en-US" xlink:label="lab_ms_PreferredStockCarryingValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Preferred Stock, Carrying Value </link:label>
<link:label id="lab_ms_PreferredStockCarryingValue_documentation_en-US" xlink:label="lab_ms_PreferredStockCarryingValue" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Call price of preferred stock plus any dividends in arrears times total number of preferred stock outstanding. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_PreferredStockCarryingValue" xlink:href="ms-20231231.xsd#ms_PreferredStockCarryingValue"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_PreferredStockCarryingValue" xlink:to="lab_ms_PreferredStockCarryingValue" xlink:type="arc" order="1"/>
<link:label id="lab_ms_ScheduleOfFairValueAssetLiabilityOfCreditProtectionSoldTableTextBlock_e89cdc47-77f5-4592-843f-715850bf0d6c_terseLabel_en-US" xlink:label="lab_ms_ScheduleOfFairValueAssetLiabilityOfCreditProtectionSoldTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Fair Value Asset (Liability) of Credit Protection Sold </link:label>
<link:label id="lab_ms_ScheduleOfFairValueAssetLiabilityOfCreditProtectionSoldTableTextBlock_label_en-US" xlink:label="lab_ms_ScheduleOfFairValueAssetLiabilityOfCreditProtectionSoldTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Fair Value Asset (Liability) of Credit Protection Sold [Table Text Block] </link:label>
<link:label id="lab_ms_ScheduleOfFairValueAssetLiabilityOfCreditProtectionSoldTableTextBlock_documentation_en-US" xlink:label="lab_ms_ScheduleOfFairValueAssetLiabilityOfCreditProtectionSoldTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Fair Value Asset (Liability) of Credit Protection Sold </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_ScheduleOfFairValueAssetLiabilityOfCreditProtectionSoldTableTextBlock" xlink:href="ms-20231231.xsd#ms_ScheduleOfFairValueAssetLiabilityOfCreditProtectionSoldTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_ScheduleOfFairValueAssetLiabilityOfCreditProtectionSoldTableTextBlock" xlink:to="lab_ms_ScheduleOfFairValueAssetLiabilityOfCreditProtectionSoldTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_ms_DebtSecuritiesHeldtomaturityMaturityAllocatedandSingleMaturityDateRollingwithinOneYearAmortizedCostLessAllowanceforCreditLoss_e1b92f7a-f555-49ae-91e7-05603c9ce011_terseLabel_en-US" xlink:label="lab_ms_DebtSecuritiesHeldtomaturityMaturityAllocatedandSingleMaturityDateRollingwithinOneYearAmortizedCostLessAllowanceforCreditLoss" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> HTM securities: Net carrying amount, due within 1 year </link:label>
<link:label id="lab_ms_DebtSecuritiesHeldtomaturityMaturityAllocatedandSingleMaturityDateRollingwithinOneYearAmortizedCostLessAllowanceforCreditLoss_label_en-US" xlink:label="lab_ms_DebtSecuritiesHeldtomaturityMaturityAllocatedandSingleMaturityDateRollingwithinOneYearAmortizedCostLessAllowanceforCreditLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, Rolling within One Year, Amortized Cost Less Allowance for Credit Loss </link:label>
<link:label id="lab_ms_DebtSecuritiesHeldtomaturityMaturityAllocatedandSingleMaturityDateRollingwithinOneYearAmortizedCostLessAllowanceforCreditLoss_documentation_en-US" xlink:label="lab_ms_DebtSecuritiesHeldtomaturityMaturityAllocatedandSingleMaturityDateRollingwithinOneYearAmortizedCostLessAllowanceforCreditLoss" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, Rolling within One Year, Amortized Cost Less Allowance for Credit Loss </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_DebtSecuritiesHeldtomaturityMaturityAllocatedandSingleMaturityDateRollingwithinOneYearAmortizedCostLessAllowanceforCreditLoss" xlink:href="ms-20231231.xsd#ms_DebtSecuritiesHeldtomaturityMaturityAllocatedandSingleMaturityDateRollingwithinOneYearAmortizedCostLessAllowanceforCreditLoss"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_DebtSecuritiesHeldtomaturityMaturityAllocatedandSingleMaturityDateRollingwithinOneYearAmortizedCostLessAllowanceforCreditLoss" xlink:to="lab_ms_DebtSecuritiesHeldtomaturityMaturityAllocatedandSingleMaturityDateRollingwithinOneYearAmortizedCostLessAllowanceforCreditLoss" xlink:type="arc" order="1"/>
<link:label id="lab_ms_ShareBasedPaymentArrangementPerformanceSharesValuationMethodCorrelationCoefficient_cc831ab9-3e4b-45c2-9b14-ec7070121c44_terseLabel_en-US" xlink:label="lab_ms_ShareBasedPaymentArrangementPerformanceSharesValuationMethodCorrelationCoefficient" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Correlation coefficient </link:label>
<link:label id="lab_ms_ShareBasedPaymentArrangementPerformanceSharesValuationMethodCorrelationCoefficient_label_en-US" xlink:label="lab_ms_ShareBasedPaymentArrangementPerformanceSharesValuationMethodCorrelationCoefficient" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Share-based Payment Arrangement, Performance Shares, Valuation Method, Correlation Coefficient </link:label>
<link:label id="lab_ms_ShareBasedPaymentArrangementPerformanceSharesValuationMethodCorrelationCoefficient_documentation_en-US" xlink:label="lab_ms_ShareBasedPaymentArrangementPerformanceSharesValuationMethodCorrelationCoefficient" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> The statistical relationship between the historical price data of the reporting entity and a market index during the expected term of a performance share. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_ShareBasedPaymentArrangementPerformanceSharesValuationMethodCorrelationCoefficient" xlink:href="ms-20231231.xsd#ms_ShareBasedPaymentArrangementPerformanceSharesValuationMethodCorrelationCoefficient"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_ShareBasedPaymentArrangementPerformanceSharesValuationMethodCorrelationCoefficient" xlink:to="lab_ms_ShareBasedPaymentArrangementPerformanceSharesValuationMethodCorrelationCoefficient" xlink:type="arc" order="1"/>
<link:label id="lab_dei_TradingSymbol_0eb6347a-1c80-4367-b7ce-cbf99da6a64c_terseLabel_en-US" xlink:label="lab_dei_TradingSymbol" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Trading Symbol </link:label>
<link:label id="lab_dei_TradingSymbol_label_en-US" xlink:label="lab_dei_TradingSymbol" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Trading Symbol </link:label>
<link:loc xlink:type="locator" xlink:label="loc_dei_TradingSymbol" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_TradingSymbol"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_TradingSymbol" xlink:to="lab_dei_TradingSymbol" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_USGovernmentAgenciesDebtSecuritiesMember_f256bb37-5067-47a5-a861-da654b89fca8_terseLabel_en-US" xlink:label="lab_us-gaap_USGovernmentAgenciesDebtSecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> U.S. agency securities </link:label>
<link:label id="lab_us-gaap_USGovernmentAgenciesDebtSecuritiesMember_label_en-US" xlink:label="lab_us-gaap_USGovernmentAgenciesDebtSecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> US Government Agencies Debt Securities [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_USGovernmentAgenciesDebtSecuritiesMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_USGovernmentAgenciesDebtSecuritiesMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_USGovernmentAgenciesDebtSecuritiesMember" xlink:to="lab_us-gaap_USGovernmentAgenciesDebtSecuritiesMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_PropertyLeaseGuaranteeMember_d128f9bb-48a2-4965-894b-f4b91c54a520_terseLabel_en-US" xlink:label="lab_us-gaap_PropertyLeaseGuaranteeMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Property Lease Guarantee </link:label>
<link:label id="lab_us-gaap_PropertyLeaseGuaranteeMember_label_en-US" xlink:label="lab_us-gaap_PropertyLeaseGuaranteeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Property Lease Guarantee [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_PropertyLeaseGuaranteeMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PropertyLeaseGuaranteeMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PropertyLeaseGuaranteeMember" xlink:to="lab_us-gaap_PropertyLeaseGuaranteeMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_Maturity30To90DaysMember_dda34616-7b98-4c37-85df-dd738e23181a_terseLabel_en-US" xlink:label="lab_us-gaap_Maturity30To90DaysMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> 30-90 Days </link:label>
<link:label id="lab_us-gaap_Maturity30To90DaysMember_label_en-US" xlink:label="lab_us-gaap_Maturity30To90DaysMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Maturity 30 to 90 Days [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_Maturity30To90DaysMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_Maturity30To90DaysMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Maturity30To90DaysMember" xlink:to="lab_us-gaap_Maturity30To90DaysMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_AlternativeInvestment_9baed3b2-d232-4c9d-b5cb-f4004a3f2e44_terseLabel_en-US" xlink:label="lab_us-gaap_AlternativeInvestment" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Investments </link:label>
<link:label id="lab_us-gaap_AlternativeInvestment_label_en-US" xlink:label="lab_us-gaap_AlternativeInvestment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Alternative Investment </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AlternativeInvestment" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AlternativeInvestment"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AlternativeInvestment" xlink:to="lab_us-gaap_AlternativeInvestment" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_StructuredFinanceMember_c100cc1c-bfb8-4b7c-878b-cbea89d623ec_verboseLabel_en-US" xlink:label="lab_us-gaap_StructuredFinanceMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> OSF </link:label>
<link:label id="lab_us-gaap_StructuredFinanceMember_label_en-US" xlink:label="lab_us-gaap_StructuredFinanceMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Structured Finance [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_StructuredFinanceMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_StructuredFinanceMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StructuredFinanceMember" xlink:to="lab_us-gaap_StructuredFinanceMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FairValueDisclosuresAbstract_88c8765f-31b7-4613-b0dc-fd744cc1c0e3_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueDisclosuresAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value Disclosures [Abstract] </link:label>
<link:label id="lab_us-gaap_FairValueDisclosuresAbstract_label_en-US" xlink:label="lab_us-gaap_FairValueDisclosuresAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value Disclosures [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueDisclosuresAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueDisclosuresAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueDisclosuresAbstract" xlink:to="lab_us-gaap_FairValueDisclosuresAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ScheduleOfCashAndCashEquivalentsTableTextBlock_a6eee8df-bd6a-4162-bb97-d36bcd19f5a4_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfCashAndCashEquivalentsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Cash and Cash Equivalents </link:label>
<link:label id="lab_us-gaap_ScheduleOfCashAndCashEquivalentsTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfCashAndCashEquivalentsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Cash and Cash Equivalents [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfCashAndCashEquivalentsTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfCashAndCashEquivalentsTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfCashAndCashEquivalentsTableTextBlock" xlink:to="lab_us-gaap_ScheduleOfCashAndCashEquivalentsTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DefinedBenefitPlanPlanAssetsBenefitsPaid_bceb804e-6e8c-464d-9d6b-775c8c48bd4a_negatedLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanPlanAssetsBenefitsPaid" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Benefits paid </link:label>
<link:label id="lab_us-gaap_DefinedBenefitPlanPlanAssetsBenefitsPaid_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanPlanAssetsBenefitsPaid" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Defined Benefit Plan, Plan Assets, Benefits Paid </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanPlanAssetsBenefitsPaid" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DefinedBenefitPlanPlanAssetsBenefitsPaid"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanPlanAssetsBenefitsPaid" xlink:to="lab_us-gaap_DefinedBenefitPlanPlanAssetsBenefitsPaid" xlink:type="arc" order="1"/>
<link:label id="lab_ms_DueFromEmployeesNetOfAllowance_5b3542d6-a6b9-4d90-96ee-d913c8cef39f_totalLabel_en-US" xlink:label="lab_ms_DueFromEmployeesNetOfAllowance" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Employee loans, net of ACL </link:label>
<link:label id="lab_ms_DueFromEmployeesNetOfAllowance_label_en-US" xlink:label="lab_ms_DueFromEmployeesNetOfAllowance" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Due from Employees, Net of Allowance </link:label>
<link:label id="lab_ms_DueFromEmployeesNetOfAllowance_documentation_en-US" xlink:label="lab_ms_DueFromEmployeesNetOfAllowance" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Amounts due from an Entity employees, net of allowance. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_DueFromEmployeesNetOfAllowance" xlink:href="ms-20231231.xsd#ms_DueFromEmployeesNetOfAllowance"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_DueFromEmployeesNetOfAllowance" xlink:to="lab_ms_DueFromEmployeesNetOfAllowance" xlink:type="arc" order="1"/>
<link:label id="lab_ms_FICOScoreGreaterthanorEqualto740Member_565c5a9f-87e0-4ef7-b394-839aea30a878_terseLabel_en-US" xlink:label="lab_ms_FICOScoreGreaterthanorEqualto740Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Greater than or equal to 740 </link:label>
<link:label id="lab_ms_FICOScoreGreaterthanorEqualto740Member_label_en-US" xlink:label="lab_ms_FICOScoreGreaterthanorEqualto740Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> FICO Score, Greater than or Equal to 740 [Member] </link:label>
<link:label id="lab_ms_FICOScoreGreaterthanorEqualto740Member_documentation_en-US" xlink:label="lab_ms_FICOScoreGreaterthanorEqualto740Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> FICO Score, Greater than or Equal to 740 [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_FICOScoreGreaterthanorEqualto740Member" xlink:href="ms-20231231.xsd#ms_FICOScoreGreaterthanorEqualto740Member"/>
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<link:label id="lab_us-gaap_CommonStockIssuedEmployeeStockTrust_ceb739d1-97de-4fe9-a2c1-5c65a8558de4_negatedLabel_en-US" xlink:label="lab_us-gaap_CommonStockIssuedEmployeeStockTrust" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Common stock issued to employee stock trusts </link:label>
<link:label id="lab_us-gaap_CommonStockIssuedEmployeeStockTrust_label_en-US" xlink:label="lab_us-gaap_CommonStockIssuedEmployeeStockTrust" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Common Stock Issued, Employee Stock Trust </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockIssuedEmployeeStockTrust" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CommonStockIssuedEmployeeStockTrust"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockIssuedEmployeeStockTrust" xlink:to="lab_us-gaap_CommonStockIssuedEmployeeStockTrust" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_StockholdersEquityAbstract_4b028b59-76c9-4a48-ae35-4b76166e4bdd_verboseLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Equity </link:label>
<link:label id="lab_us-gaap_StockholdersEquityAbstract_label_en-US" xlink:label="lab_us-gaap_StockholdersEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Equity, Attributable to Parent [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquityAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_StockholdersEquityAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockholdersEquityAbstract" xlink:to="lab_us-gaap_StockholdersEquityAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock_ccd65284-a0f2-4291-967b-5653cc1417da_terseLabel_en-US" xlink:label="lab_us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Investment Securities </link:label>
<link:label id="lab_us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock"/>
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<link:label id="lab_us-gaap_FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerShareUnfundedCommittments_06125561-1126-4979-b309-f9b1b50e0d35_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerShareUnfundedCommittments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Commitment </link:label>
<link:label id="lab_us-gaap_FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerShareUnfundedCommittments_label_en-US" xlink:label="lab_us-gaap_FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerShareUnfundedCommittments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerShareUnfundedCommittments" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerShareUnfundedCommittments"/>
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<link:label id="lab_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_ff29f354-87fb-4e88-8720-ac37a209e691_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Reconciliation of Common Shares Outstanding for Basic and Diluted EPS </link:label>
<link:label id="lab_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" xlink:to="lab_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DefinedBenefitPlanServiceCost_838d6095-5379-4d2c-a708-ba32972ae60a_verboseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanServiceCost" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Service cost, benefits earned during the period </link:label>
<link:label id="lab_us-gaap_DefinedBenefitPlanServiceCost_22ff5492-4071-4ac0-8e23-76f51876b0b2_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanServiceCost" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Service cost </link:label>
<link:label id="lab_us-gaap_DefinedBenefitPlanServiceCost_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanServiceCost" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Defined Benefit Plan, Service Cost </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanServiceCost" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DefinedBenefitPlanServiceCost"/>
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<link:label id="lab_us-gaap_DerivativeLiabilityStatementOfFinancialPositionExtensibleEnumeration_f3e666da-bd83-4d4b-86d1-3f86fc4e34d3_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeLiabilityStatementOfFinancialPositionExtensibleEnumeration" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative Liability, Statement of Financial Position [Extensible Enumeration] </link:label>
<link:label id="lab_us-gaap_DerivativeLiabilityStatementOfFinancialPositionExtensibleEnumeration_label_en-US" xlink:label="lab_us-gaap_DerivativeLiabilityStatementOfFinancialPositionExtensibleEnumeration" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative Liability, Statement of Financial Position [Extensible Enumeration] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeLiabilityStatementOfFinancialPositionExtensibleEnumeration" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DerivativeLiabilityStatementOfFinancialPositionExtensibleEnumeration"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeLiabilityStatementOfFinancialPositionExtensibleEnumeration" xlink:to="lab_us-gaap_DerivativeLiabilityStatementOfFinancialPositionExtensibleEnumeration" xlink:type="arc" order="1"/>
<link:label id="lab_ms_DeferredTaxAssetsTaxCreditAndOperatingLossCarryforwards_6f8cf688-7aeb-403c-b394-dc921bba7ffb_terseLabel_en-US" xlink:label="lab_ms_DeferredTaxAssetsTaxCreditAndOperatingLossCarryforwards" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Net operating loss and tax credit carryforwards </link:label>
<link:label id="lab_ms_DeferredTaxAssetsTaxCreditAndOperatingLossCarryforwards_label_en-US" xlink:label="lab_ms_DeferredTaxAssetsTaxCreditAndOperatingLossCarryforwards" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Deferred Tax Assets, Tax Credit and Operating Loss Carryforwards </link:label>
<link:label id="lab_ms_DeferredTaxAssetsTaxCreditAndOperatingLossCarryforwards_documentation_en-US" xlink:label="lab_ms_DeferredTaxAssetsTaxCreditAndOperatingLossCarryforwards" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Deferred Tax Assets, Tax Credit and Operating Loss Carryforwards </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_DeferredTaxAssetsTaxCreditAndOperatingLossCarryforwards" xlink:href="ms-20231231.xsd#ms_DeferredTaxAssetsTaxCreditAndOperatingLossCarryforwards"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_DeferredTaxAssetsTaxCreditAndOperatingLossCarryforwards" xlink:to="lab_ms_DeferredTaxAssetsTaxCreditAndOperatingLossCarryforwards" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock_356ee20e-3753-4dcc-8b2b-930a8dd70ea3_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Rollforward of Level 3 Assets Measured at Fair Value on a Recurring Basis </link:label>
<link:label id="lab_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock_label_en-US" xlink:label="lab_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock"/>
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<link:label id="lab_ms_MeasurementInputBondPriceMember_cbdafbda-ee67-42d0-95f9-d93d8d67812a_terseLabel_en-US" xlink:label="lab_ms_MeasurementInputBondPriceMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Bond Price </link:label>
<link:label id="lab_ms_MeasurementInputBondPriceMember_label_en-US" xlink:label="lab_ms_MeasurementInputBondPriceMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Measurement Input, Bond Price [Member] </link:label>
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<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_MeasurementInputBondPriceMember" xlink:to="lab_ms_MeasurementInputBondPriceMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_SignificantAccountingPoliciesTextBlock_05f3b077-a5ca-48b3-922e-65f68eea0027_terseLabel_en-US" xlink:label="lab_us-gaap_SignificantAccountingPoliciesTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Significant Accounting Policies </link:label>
<link:label id="lab_us-gaap_SignificantAccountingPoliciesTextBlock_label_en-US" xlink:label="lab_us-gaap_SignificantAccountingPoliciesTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Significant Accounting Policies [Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_SignificantAccountingPoliciesTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SignificantAccountingPoliciesTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SignificantAccountingPoliciesTextBlock" xlink:to="lab_us-gaap_SignificantAccountingPoliciesTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DebtMember_c6de0654-cbbf-4105-a5c4-e2bd345a40ca_terseLabel_en-US" xlink:label="lab_us-gaap_DebtMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Borrowings </link:label>
<link:label id="lab_us-gaap_DebtMember_label_en-US" xlink:label="lab_us-gaap_DebtMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DebtMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtMember" xlink:to="lab_us-gaap_DebtMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_InterestExpenseAbstract_111c711b-bee6-4843-af24-0f08322b1ea7_terseLabel_en-US" xlink:label="lab_us-gaap_InterestExpenseAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Interest expense </link:label>
<link:label id="lab_us-gaap_InterestExpenseAbstract_label_en-US" xlink:label="lab_us-gaap_InterestExpenseAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Interest Expense [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestExpenseAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_InterestExpenseAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestExpenseAbstract" xlink:to="lab_us-gaap_InterestExpenseAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_CommonEquityTierOneCapital_16cee521-5854-445b-9549-c306f8cfbc6e_terseLabel_en-US" xlink:label="lab_us-gaap_CommonEquityTierOneCapital" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Common Equity Tier 1 capital </link:label>
<link:label id="lab_us-gaap_CommonEquityTierOneCapital_label_en-US" xlink:label="lab_us-gaap_CommonEquityTierOneCapital" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Banking Regulation, Common Equity Tier 1 Risk-Based Capital, Actual </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonEquityTierOneCapital" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CommonEquityTierOneCapital"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonEquityTierOneCapital" xlink:to="lab_us-gaap_CommonEquityTierOneCapital" xlink:type="arc" order="1"/>
<link:label id="lab_ms_MeasurementInputEquityVolatilitySkewMember_52c4bd63-8476-429b-8604-e06e2460d997_terseLabel_en-US" xlink:label="lab_ms_MeasurementInputEquityVolatilitySkewMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Equity Volatility Skew </link:label>
<link:label id="lab_ms_MeasurementInputEquityVolatilitySkewMember_label_en-US" xlink:label="lab_ms_MeasurementInputEquityVolatilitySkewMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Measurement Input, Equity Volatility Skew [Member] </link:label>
<link:label id="lab_ms_MeasurementInputEquityVolatilitySkewMember_documentation_en-US" xlink:label="lab_ms_MeasurementInputEquityVolatilitySkewMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Measurement Input, Equity Volatility Skew </link:label>
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<link:label id="lab_us-gaap_GuaranteeObligationsMaximumExposure_7eb15995-763e-465a-a442-d52ef354fb31_terseLabel_en-US" xlink:label="lab_us-gaap_GuaranteeObligationsMaximumExposure" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Maximum Potential Payout/Notional of Obligations by Years to Maturity </link:label>
<link:label id="lab_us-gaap_GuaranteeObligationsMaximumExposure_label_en-US" xlink:label="lab_us-gaap_GuaranteeObligationsMaximumExposure" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Guarantor Obligations, Maximum Exposure, Undiscounted </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_GuaranteeObligationsMaximumExposure" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_GuaranteeObligationsMaximumExposure"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GuaranteeObligationsMaximumExposure" xlink:to="lab_us-gaap_GuaranteeObligationsMaximumExposure" xlink:type="arc" order="1"/>
<link:label id="lab_ms_ScheduleofMortgageBackedandAssetBackedSecuritizationAssetsTableTextBlock_28908546-e50f-4945-b97c-012c7e83cfa1_terseLabel_en-US" xlink:label="lab_ms_ScheduleofMortgageBackedandAssetBackedSecuritizationAssetsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Mortgage- and Asset-Backed Securitization Assets </link:label>
<link:label id="lab_ms_ScheduleofMortgageBackedandAssetBackedSecuritizationAssetsTableTextBlock_label_en-US" xlink:label="lab_ms_ScheduleofMortgageBackedandAssetBackedSecuritizationAssetsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Mortgage-Backed and Asset-Backed Securitization Assets [Table Text Block] </link:label>
<link:label id="lab_ms_ScheduleofMortgageBackedandAssetBackedSecuritizationAssetsTableTextBlock_documentation_en-US" xlink:label="lab_ms_ScheduleofMortgageBackedandAssetBackedSecuritizationAssetsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Mortgage-Backed and Asset-Backed Securitization Assets [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_ScheduleofMortgageBackedandAssetBackedSecuritizationAssetsTableTextBlock" xlink:href="ms-20231231.xsd#ms_ScheduleofMortgageBackedandAssetBackedSecuritizationAssetsTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_ScheduleofMortgageBackedandAssetBackedSecuritizationAssetsTableTextBlock" xlink:to="lab_ms_ScheduleofMortgageBackedandAssetBackedSecuritizationAssetsTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_StatementEquityComponentsAxis_b8b4c03c-5771-4401-a870-4f9efe12b249_terseLabel_en-US" xlink:label="lab_us-gaap_StatementEquityComponentsAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Equity Components [Axis] </link:label>
<link:label id="lab_us-gaap_StatementEquityComponentsAxis_label_en-US" xlink:label="lab_us-gaap_StatementEquityComponentsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Equity Components [Axis] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementEquityComponentsAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_StatementEquityComponentsAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementEquityComponentsAxis" xlink:to="lab_us-gaap_StatementEquityComponentsAxis" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain_b9a1f0fd-a8b4-49c1-b01f-0be5bd50e031_terseLabel_en-US" xlink:label="lab_us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financial Instruments [Domain] </link:label>
<link:label id="lab_us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain_label_en-US" xlink:label="lab_us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financial Instruments [Domain] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:to="lab_us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:type="arc" order="1"/>
<link:label id="lab_ms_AvailableForSaleSecuritiesDebtMaturitiesAnnualizedAverageYieldIncludingTheInterestRateSwapAccrualOfRelatedHedges_1de9be7e-6d70-4095-9033-8e5afb0b4ba3_terseLabel_en-US" xlink:label="lab_ms_AvailableForSaleSecuritiesDebtMaturitiesAnnualizedAverageYieldIncludingTheInterestRateSwapAccrualOfRelatedHedges" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> AFS securities: Annualized average yield including the interest rate swap accrual of related hedge (as a percent) </link:label>
<link:label id="lab_ms_AvailableForSaleSecuritiesDebtMaturitiesAnnualizedAverageYieldIncludingTheInterestRateSwapAccrualOfRelatedHedges_label_en-US" xlink:label="lab_ms_AvailableForSaleSecuritiesDebtMaturitiesAnnualizedAverageYieldIncludingTheInterestRateSwapAccrualOfRelatedHedges" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Available-for-sale Securities, Debt Maturities, Annualized Average Yield Including the Interest Rate Swap Accrual of Related Hedges </link:label>
<link:label id="lab_ms_AvailableForSaleSecuritiesDebtMaturitiesAnnualizedAverageYieldIncludingTheInterestRateSwapAccrualOfRelatedHedges_documentation_en-US" xlink:label="lab_ms_AvailableForSaleSecuritiesDebtMaturitiesAnnualizedAverageYieldIncludingTheInterestRateSwapAccrualOfRelatedHedges" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Available-for-sale securities, Debt Maturities, Annualized Average Yield Including the Interest Rate Swap Accrual of Related Hedges </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_AvailableForSaleSecuritiesDebtMaturitiesAnnualizedAverageYieldIncludingTheInterestRateSwapAccrualOfRelatedHedges" xlink:href="ms-20231231.xsd#ms_AvailableForSaleSecuritiesDebtMaturitiesAnnualizedAverageYieldIncludingTheInterestRateSwapAccrualOfRelatedHedges"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_AvailableForSaleSecuritiesDebtMaturitiesAnnualizedAverageYieldIncludingTheInterestRateSwapAccrualOfRelatedHedges" xlink:to="lab_ms_AvailableForSaleSecuritiesDebtMaturitiesAnnualizedAverageYieldIncludingTheInterestRateSwapAccrualOfRelatedHedges" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_OtherCreditDerivativesMember_6f172374-c210-48f4-bd9c-0200734f4201_terseLabel_en-US" xlink:label="lab_us-gaap_OtherCreditDerivativesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other credit contracts </link:label>
<link:label id="lab_us-gaap_OtherCreditDerivativesMember_label_en-US" xlink:label="lab_us-gaap_OtherCreditDerivativesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other Credit Derivatives [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherCreditDerivativesMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OtherCreditDerivativesMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherCreditDerivativesMember" xlink:to="lab_us-gaap_OtherCreditDerivativesMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_HedgingRelationshipDomain_fb7a01a4-97fc-4e6c-ad13-74c73fffd079_terseLabel_en-US" xlink:label="lab_us-gaap_HedgingRelationshipDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Hedging Relationship [Domain] </link:label>
<link:label id="lab_us-gaap_HedgingRelationshipDomain_label_en-US" xlink:label="lab_us-gaap_HedgingRelationshipDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Hedging Relationship [Domain] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_HedgingRelationshipDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_HedgingRelationshipDomain"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_HedgingRelationshipDomain" xlink:to="lab_us-gaap_HedgingRelationshipDomain" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_InvestmentTypeAxis_721fc675-f2d9-40ab-9d55-edb31b225bf5_terseLabel_en-US" xlink:label="lab_us-gaap_InvestmentTypeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Investment Type [Axis] </link:label>
<link:label id="lab_us-gaap_InvestmentTypeAxis_label_en-US" xlink:label="lab_us-gaap_InvestmentTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Investment Type [Axis] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_InvestmentTypeAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_InvestmentTypeAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InvestmentTypeAxis" xlink:to="lab_us-gaap_InvestmentTypeAxis" xlink:type="arc" order="1"/>
<link:label id="lab_ms_LiquidityFacilitiesGuaranteeMember_7a70edf7-cebc-4803-9b18-4c3c14c6f5ea_terseLabel_en-US" xlink:label="lab_ms_LiquidityFacilitiesGuaranteeMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Liquidity facilities </link:label>
<link:label id="lab_ms_LiquidityFacilitiesGuaranteeMember_label_en-US" xlink:label="lab_ms_LiquidityFacilitiesGuaranteeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Liquidity Facilities Guarantee [Member] </link:label>
<link:label id="lab_ms_LiquidityFacilitiesGuaranteeMember_documentation_en-US" xlink:label="lab_ms_LiquidityFacilitiesGuaranteeMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Liquidity Facilities Guarantee </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_LiquidityFacilitiesGuaranteeMember" xlink:href="ms-20231231.xsd#ms_LiquidityFacilitiesGuaranteeMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_LiquidityFacilitiesGuaranteeMember" xlink:to="lab_ms_LiquidityFacilitiesGuaranteeMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest_5cc8ea99-5fe8-463c-8475-0e3236ebf5e2_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Held for investment (net of allowance for credit losses of $1,169 and $839) </link:label>
<link:label id="lab_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest_9da21d2a-0560-4bb0-b05a-eca7448d87c8_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> ACL </link:label>
<link:label id="lab_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest_07b8f8c6-e451-4a85-9b29-234bd01347fa_periodStartLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Beginning balance </link:label>
<link:label id="lab_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest_9c26a822-697d-4297-8b52-ae74bffff6bf_periodEndLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Ending balance </link:label>
<link:label id="lab_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financing Receivable, Allowance for Credit Loss, Excluding Accrued Interest </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" xlink:to="lab_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_MaturityOver90DaysMember_42a627fd-93ad-4772-ad6e-cbb62c329282_terseLabel_en-US" xlink:label="lab_us-gaap_MaturityOver90DaysMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Over 90 Days </link:label>
<link:label id="lab_us-gaap_MaturityOver90DaysMember_label_en-US" xlink:label="lab_us-gaap_MaturityOver90DaysMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Maturity Greater than 90 Days [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_MaturityOver90DaysMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_MaturityOver90DaysMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MaturityOver90DaysMember" xlink:to="lab_us-gaap_MaturityOver90DaysMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ScheduleOfDeferredCompensationArrangementWithIndividualExcludingShareBasedPaymentsAndPostretirementBenefitsByTitleOfIndividualAndByTypeOfDeferredCompensationTextBlock_475c06fe-5938-49cd-b633-c50d9a8eb1de_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfDeferredCompensationArrangementWithIndividualExcludingShareBasedPaymentsAndPostretirementBenefitsByTitleOfIndividualAndByTypeOfDeferredCompensationTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Deferred Cash-Based Compensation Plans </link:label>
<link:label id="lab_us-gaap_ScheduleOfDeferredCompensationArrangementWithIndividualExcludingShareBasedPaymentsAndPostretirementBenefitsByTitleOfIndividualAndByTypeOfDeferredCompensationTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfDeferredCompensationArrangementWithIndividualExcludingShareBasedPaymentsAndPostretirementBenefitsByTitleOfIndividualAndByTypeOfDeferredCompensationTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits by Title of Individual and Type of Deferred Compensation [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfDeferredCompensationArrangementWithIndividualExcludingShareBasedPaymentsAndPostretirementBenefitsByTitleOfIndividualAndByTypeOfDeferredCompensationTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfDeferredCompensationArrangementWithIndividualExcludingShareBasedPaymentsAndPostretirementBenefitsByTitleOfIndividualAndByTypeOfDeferredCompensationTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfDeferredCompensationArrangementWithIndividualExcludingShareBasedPaymentsAndPostretirementBenefitsByTitleOfIndividualAndByTypeOfDeferredCompensationTextBlock" xlink:to="lab_us-gaap_ScheduleOfDeferredCompensationArrangementWithIndividualExcludingShareBasedPaymentsAndPostretirementBenefitsByTitleOfIndividualAndByTypeOfDeferredCompensationTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_dei_EntitySmallBusiness_1076d962-e8ab-4278-be5f-72ab486a71ca_terseLabel_en-US" xlink:label="lab_dei_EntitySmallBusiness" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Entity Small Business </link:label>
<link:label id="lab_dei_EntitySmallBusiness_label_en-US" xlink:label="lab_dei_EntitySmallBusiness" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Entity Small Business </link:label>
<link:loc xlink:type="locator" xlink:label="loc_dei_EntitySmallBusiness" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntitySmallBusiness"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntitySmallBusiness" xlink:to="lab_dei_EntitySmallBusiness" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_InvestmentTypeCategorizationMember_af71f548-2138-4fbd-8e31-28323b8d59b6_terseLabel_en-US" xlink:label="lab_us-gaap_InvestmentTypeCategorizationMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Investments [Domain] </link:label>
<link:label id="lab_us-gaap_InvestmentTypeCategorizationMember_label_en-US" xlink:label="lab_us-gaap_InvestmentTypeCategorizationMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Investments [Domain] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_InvestmentTypeCategorizationMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_InvestmentTypeCategorizationMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InvestmentTypeCategorizationMember" xlink:to="lab_us-gaap_InvestmentTypeCategorizationMember" xlink:type="arc" order="1"/>
<link:label id="lab_dei_LocalPhoneNumber_76c666a8-c613-4ff0-940b-ff0a7fb64541_terseLabel_en-US" xlink:label="lab_dei_LocalPhoneNumber" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Local Phone Number </link:label>
<link:label id="lab_dei_LocalPhoneNumber_label_en-US" xlink:label="lab_dei_LocalPhoneNumber" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Local Phone Number </link:label>
<link:loc xlink:type="locator" xlink:label="loc_dei_LocalPhoneNumber" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_LocalPhoneNumber"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_LocalPhoneNumber" xlink:to="lab_dei_LocalPhoneNumber" xlink:type="arc" order="1"/>
<link:label id="lab_ms_InterestExpenseBenefitNetOfFederalAndStateIncomeTaxBenefitsAbstract_b5b32ba5-ac01-41ba-83ea-2efd1de008dc_terseLabel_en-US" xlink:label="lab_ms_InterestExpenseBenefitNetOfFederalAndStateIncomeTaxBenefitsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Interest Expense (Benefit) Net of Federal and State Income Tax Benefits </link:label>
<link:label id="lab_ms_InterestExpenseBenefitNetOfFederalAndStateIncomeTaxBenefitsAbstract_label_en-US" xlink:label="lab_ms_InterestExpenseBenefitNetOfFederalAndStateIncomeTaxBenefitsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Interest Expense (Benefit) Net of Federal and State Income Tax Benefits [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_InterestExpenseBenefitNetOfFederalAndStateIncomeTaxBenefitsAbstract" xlink:href="ms-20231231.xsd#ms_InterestExpenseBenefitNetOfFederalAndStateIncomeTaxBenefitsAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_InterestExpenseBenefitNetOfFederalAndStateIncomeTaxBenefitsAbstract" xlink:to="lab_ms_InterestExpenseBenefitNetOfFederalAndStateIncomeTaxBenefitsAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ExtendedMaturityMember_a84120d6-fe45-462b-acac-7c5d78bd4222_terseLabel_en-US" xlink:label="lab_us-gaap_ExtendedMaturityMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Term Extension </link:label>
<link:label id="lab_us-gaap_ExtendedMaturityMember_label_en-US" xlink:label="lab_us-gaap_ExtendedMaturityMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Extended Maturity [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ExtendedMaturityMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ExtendedMaturityMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ExtendedMaturityMember" xlink:to="lab_us-gaap_ExtendedMaturityMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_InvestmentSecuritiesAccumulatedGrossUnrealizedGainBeforeTax_09fa4f67-0e5b-413a-b2a2-04f3d6602d8f_terseLabel_en-US" xlink:label="lab_ms_InvestmentSecuritiesAccumulatedGrossUnrealizedGainBeforeTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Gross Unrealized Gains </link:label>
<link:label id="lab_ms_InvestmentSecuritiesAccumulatedGrossUnrealizedGainBeforeTax_label_en-US" xlink:label="lab_ms_InvestmentSecuritiesAccumulatedGrossUnrealizedGainBeforeTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Investment Securities Accumulated Gross Unrealized Gain Before Tax </link:label>
<link:label id="lab_ms_InvestmentSecuritiesAccumulatedGrossUnrealizedGainBeforeTax_documentation_en-US" xlink:label="lab_ms_InvestmentSecuritiesAccumulatedGrossUnrealizedGainBeforeTax" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Amount before tax of unrealized gain in accumulated other comprehensive income (AOCI) on investments securities. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_InvestmentSecuritiesAccumulatedGrossUnrealizedGainBeforeTax" xlink:href="ms-20231231.xsd#ms_InvestmentSecuritiesAccumulatedGrossUnrealizedGainBeforeTax"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_InvestmentSecuritiesAccumulatedGrossUnrealizedGainBeforeTax" xlink:to="lab_ms_InvestmentSecuritiesAccumulatedGrossUnrealizedGainBeforeTax" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_RetirementPlanTypeDomain_ae292476-01bd-4868-8180-487c9c249ac1_terseLabel_en-US" xlink:label="lab_us-gaap_RetirementPlanTypeDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Retirement Plan Type [Domain] </link:label>
<link:label id="lab_us-gaap_RetirementPlanTypeDomain_label_en-US" xlink:label="lab_us-gaap_RetirementPlanTypeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Retirement Plan Type [Domain] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_RetirementPlanTypeDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_RetirementPlanTypeDomain"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RetirementPlanTypeDomain" xlink:to="lab_us-gaap_RetirementPlanTypeDomain" xlink:type="arc" order="1"/>
<link:label id="lab_ms_OffBalanceSheetLoanCommitmentsAllowanceForCreditExposures_d6737c67-f5fd-4daa-a87e-f0e377b8080b_periodStartLabel_en-US" xlink:label="lab_ms_OffBalanceSheetLoanCommitmentsAllowanceForCreditExposures" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Beginning balance </link:label>
<link:label id="lab_ms_OffBalanceSheetLoanCommitmentsAllowanceForCreditExposures_ccd1a30f-49ad-433b-ac31-b008dd8213bd_periodEndLabel_en-US" xlink:label="lab_ms_OffBalanceSheetLoanCommitmentsAllowanceForCreditExposures" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Ending balance </link:label>
<link:label id="lab_ms_OffBalanceSheetLoanCommitmentsAllowanceForCreditExposures_label_en-US" xlink:label="lab_ms_OffBalanceSheetLoanCommitmentsAllowanceForCreditExposures" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Off-balance-sheet Loan Commitments, Allowance for Credit Exposures </link:label>
<link:label id="lab_ms_OffBalanceSheetLoanCommitmentsAllowanceForCreditExposures_documentation_en-US" xlink:label="lab_ms_OffBalanceSheetLoanCommitmentsAllowanceForCreditExposures" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> A valuation allowance for credit exposures related to off-balance-sheet loan commitments. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_OffBalanceSheetLoanCommitmentsAllowanceForCreditExposures" xlink:href="ms-20231231.xsd#ms_OffBalanceSheetLoanCommitmentsAllowanceForCreditExposures"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_OffBalanceSheetLoanCommitmentsAllowanceForCreditExposures" xlink:to="lab_ms_OffBalanceSheetLoanCommitmentsAllowanceForCreditExposures" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_SecuritiesFinancingTransactionLineItems_82077028-5153-4e8c-9903-b699fff67ef9_terseLabel_en-US" xlink:label="lab_us-gaap_SecuritiesFinancingTransactionLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Gross Secured Financing Balances </link:label>
<link:label id="lab_us-gaap_SecuritiesFinancingTransactionLineItems_label_en-US" xlink:label="lab_us-gaap_SecuritiesFinancingTransactionLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Securities Financing Transaction [Line Items] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_SecuritiesFinancingTransactionLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SecuritiesFinancingTransactionLineItems"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SecuritiesFinancingTransactionLineItems" xlink:to="lab_us-gaap_SecuritiesFinancingTransactionLineItems" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_CompensationAndRetirementDisclosureAbstract_edf2c479-83ef-4511-a2d8-edef42d9d82b_terseLabel_en-US" xlink:label="lab_us-gaap_CompensationAndRetirementDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Retirement Benefits [Abstract] </link:label>
<link:label id="lab_us-gaap_CompensationAndRetirementDisclosureAbstract_label_en-US" xlink:label="lab_us-gaap_CompensationAndRetirementDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Retirement Benefits [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CompensationAndRetirementDisclosureAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CompensationAndRetirementDisclosureAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CompensationAndRetirementDisclosureAbstract" xlink:to="lab_us-gaap_CompensationAndRetirementDisclosureAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_ms_WholeLoanSalesRepresentationsAndWarrantiesMember_18e7e954-bd05-4c94-9b2a-37f05ee4e5d5_terseLabel_en-US" xlink:label="lab_ms_WholeLoanSalesRepresentationsAndWarrantiesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Whole loan sales guarantees </link:label>
<link:label id="lab_ms_WholeLoanSalesRepresentationsAndWarrantiesMember_label_en-US" xlink:label="lab_ms_WholeLoanSalesRepresentationsAndWarrantiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Whole Loan Sales Representations and Warranties [Member] </link:label>
<link:label id="lab_ms_WholeLoanSalesRepresentationsAndWarrantiesMember_documentation_en-US" xlink:label="lab_ms_WholeLoanSalesRepresentationsAndWarrantiesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Whole Loan Sales Representations and Warranties </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_WholeLoanSalesRepresentationsAndWarrantiesMember" xlink:href="ms-20231231.xsd#ms_WholeLoanSalesRepresentationsAndWarrantiesMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_WholeLoanSalesRepresentationsAndWarrantiesMember" xlink:to="lab_ms_WholeLoanSalesRepresentationsAndWarrantiesMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_AssetManagementFees_1b969686-bc45-4cd3-a38f-ecb5f1452877_terseLabel_en-US" xlink:label="lab_ms_AssetManagementFees" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Asset management </link:label>
<link:label id="lab_ms_AssetManagementFees_label_en-US" xlink:label="lab_ms_AssetManagementFees" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Asset Management Fees </link:label>
<link:label id="lab_ms_AssetManagementFees_documentation_en-US" xlink:label="lab_ms_AssetManagementFees" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Amount of fee revenue for the management of an investment fund portfolio, including performance-based fees. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_AssetManagementFees" xlink:href="ms-20231231.xsd#ms_AssetManagementFees"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_AssetManagementFees" xlink:to="lab_ms_AssetManagementFees" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_TradingGainsLosses_7e9671eb-9b97-46bf-b0e1-fbf3aac234fa_terseLabel_en-US" xlink:label="lab_us-gaap_TradingGainsLosses" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Trading </link:label>
<link:label id="lab_us-gaap_TradingGainsLosses_3bd20c00-2300-475e-84ec-c23c46e357cf_verboseLabel_en-US" xlink:label="lab_us-gaap_TradingGainsLosses" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Trading revenues </link:label>
<link:label id="lab_us-gaap_TradingGainsLosses_label_en-US" xlink:label="lab_us-gaap_TradingGainsLosses" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Trading Gain (Loss) </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_TradingGainsLosses" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_TradingGainsLosses"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TradingGainsLosses" xlink:to="lab_us-gaap_TradingGainsLosses" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ScheduleOfDebtInstrumentsTextBlock_b929ede2-3825-4065-a9ac-3603341410c4_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfDebtInstrumentsTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Borrowings with Original Maturities Greater than One Year </link:label>
<link:label id="lab_us-gaap_ScheduleOfDebtInstrumentsTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfDebtInstrumentsTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Long-Term Debt Instruments [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfDebtInstrumentsTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfDebtInstrumentsTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfDebtInstrumentsTextBlock" xlink:to="lab_us-gaap_ScheduleOfDebtInstrumentsTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ArrangementsAndNonarrangementTransactionsMember_8944c553-e500-4195-a21f-d1cd9a4156f1_terseLabel_en-US" xlink:label="lab_us-gaap_ArrangementsAndNonarrangementTransactionsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Collaborative Arrangement and Arrangement Other than Collaborative [Domain] </link:label>
<link:label id="lab_us-gaap_ArrangementsAndNonarrangementTransactionsMember_label_en-US" xlink:label="lab_us-gaap_ArrangementsAndNonarrangementTransactionsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Collaborative Arrangement and Arrangement Other than Collaborative [Domain] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ArrangementsAndNonarrangementTransactionsMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ArrangementsAndNonarrangementTransactionsMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ArrangementsAndNonarrangementTransactionsMember" xlink:to="lab_us-gaap_ArrangementsAndNonarrangementTransactionsMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_TransfersAndServicingOfFinancialAssetsPolicyTextBlock_e904fedb-706e-49bc-b853-39451e6fae11_terseLabel_en-US" xlink:label="lab_us-gaap_TransfersAndServicingOfFinancialAssetsPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Transfer of Financial Assets </link:label>
<link:label id="lab_us-gaap_TransfersAndServicingOfFinancialAssetsPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_TransfersAndServicingOfFinancialAssetsPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Transfers and Servicing of Financial Assets, Policy [Policy Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_TransfersAndServicingOfFinancialAssetsPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_TransfersAndServicingOfFinancialAssetsPolicyTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TransfersAndServicingOfFinancialAssetsPolicyTextBlock" xlink:to="lab_us-gaap_TransfersAndServicingOfFinancialAssetsPolicyTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FinancingReceivableYearFourOriginatedThreeYearsBeforeCurrentFiscalYearWriteoff_aaa72cce-6383-43d1-a49f-609da2b28486_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableYearFourOriginatedThreeYearsBeforeCurrentFiscalYearWriteoff" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> 2020 </link:label>
<link:label id="lab_us-gaap_FinancingReceivableYearFourOriginatedThreeYearsBeforeCurrentFiscalYearWriteoff_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableYearFourOriginatedThreeYearsBeforeCurrentFiscalYearWriteoff" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableYearFourOriginatedThreeYearsBeforeCurrentFiscalYearWriteoff" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FinancingReceivableYearFourOriginatedThreeYearsBeforeCurrentFiscalYearWriteoff"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableYearFourOriginatedThreeYearsBeforeCurrentFiscalYearWriteoff" xlink:to="lab_us-gaap_FinancingReceivableYearFourOriginatedThreeYearsBeforeCurrentFiscalYearWriteoff" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_EquityMethodInvestmentsTextBlock_384e34d9-0e89-4ed9-88ed-04b1d82b5b71_terseLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentsTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Equity Method Investments </link:label>
<link:label id="lab_us-gaap_EquityMethodInvestmentsTextBlock_label_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentsTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Equity Method Investments [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_EquityMethodInvestmentsTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_EquityMethodInvestmentsTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityMethodInvestmentsTextBlock" xlink:to="lab_us-gaap_EquityMethodInvestmentsTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_ms_BankingRegulationTierOneRiskBasedCapitalRatioCapitalAdequacyMinimumAdvanced_57fe7915-2b68-4ace-8ab6-3379b4bf62a1_terseLabel_en-US" xlink:label="lab_ms_BankingRegulationTierOneRiskBasedCapitalRatioCapitalAdequacyMinimumAdvanced" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Advanced (as a percent) </link:label>
<link:label id="lab_ms_BankingRegulationTierOneRiskBasedCapitalRatioCapitalAdequacyMinimumAdvanced_label_en-US" xlink:label="lab_ms_BankingRegulationTierOneRiskBasedCapitalRatioCapitalAdequacyMinimumAdvanced" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Banking Regulation, Tier One Risk-Based Capital Ratio, Capital Adequacy, Minimum, Advanced </link:label>
<link:label id="lab_ms_BankingRegulationTierOneRiskBasedCapitalRatioCapitalAdequacyMinimumAdvanced_documentation_en-US" xlink:label="lab_ms_BankingRegulationTierOneRiskBasedCapitalRatioCapitalAdequacyMinimumAdvanced" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Banking Regulation, Tier One Risk-Based Capital Ratio, Capital Adequacy, Minimum, Advanced </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_BankingRegulationTierOneRiskBasedCapitalRatioCapitalAdequacyMinimumAdvanced" xlink:href="ms-20231231.xsd#ms_BankingRegulationTierOneRiskBasedCapitalRatioCapitalAdequacyMinimumAdvanced"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_BankingRegulationTierOneRiskBasedCapitalRatioCapitalAdequacyMinimumAdvanced" xlink:to="lab_ms_BankingRegulationTierOneRiskBasedCapitalRatioCapitalAdequacyMinimumAdvanced" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationByLiabilityClassDomain_f5f37edb-f78f-4ed7-9d59-d5da65f6d428_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationByLiabilityClassDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value by Liability Class [Domain] </link:label>
<link:label id="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationByLiabilityClassDomain_label_en-US" xlink:label="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationByLiabilityClassDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value by Liability Class [Domain] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationByLiabilityClassDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationByLiabilityClassDomain"/>
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<link:label id="lab_ms_MeasurementInputInterestRateCorrelationMember_d58e6c10-9b24-4ef8-a830-01893aa902c8_terseLabel_en-US" xlink:label="lab_ms_MeasurementInputInterestRateCorrelationMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> IR Correlation </link:label>
<link:label id="lab_ms_MeasurementInputInterestRateCorrelationMember_label_en-US" xlink:label="lab_ms_MeasurementInputInterestRateCorrelationMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Measurement Input, Interest Rate Correlation [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_MeasurementInputInterestRateCorrelationMember" xlink:href="ms-20231231.xsd#ms_MeasurementInputInterestRateCorrelationMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_MeasurementInputInterestRateCorrelationMember" xlink:to="lab_ms_MeasurementInputInterestRateCorrelationMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_ReconciliationOfOperatingProfitLossFromGeographicalAreasToConsolidatedTableTextBlock_c8f99579-3e15-4ff8-b9ba-bdf2d821c864_terseLabel_en-US" xlink:label="lab_ms_ReconciliationOfOperatingProfitLossFromGeographicalAreasToConsolidatedTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Income from Continuing Operations before Income Tax Expense (Benefit) </link:label>
<link:label id="lab_ms_ReconciliationOfOperatingProfitLossFromGeographicalAreasToConsolidatedTableTextBlock_label_en-US" xlink:label="lab_ms_ReconciliationOfOperatingProfitLossFromGeographicalAreasToConsolidatedTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Reconciliation of Operating Profit (Loss) from Geographical Areas to Consolidated [Table Text Block] </link:label>
<link:label id="lab_ms_ReconciliationOfOperatingProfitLossFromGeographicalAreasToConsolidatedTableTextBlock_documentation_en-US" xlink:label="lab_ms_ReconciliationOfOperatingProfitLossFromGeographicalAreasToConsolidatedTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Tabular disclosure of the reconciliation of profit (loss) from geographical areas to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_ReconciliationOfOperatingProfitLossFromGeographicalAreasToConsolidatedTableTextBlock" xlink:href="ms-20231231.xsd#ms_ReconciliationOfOperatingProfitLossFromGeographicalAreasToConsolidatedTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_ReconciliationOfOperatingProfitLossFromGeographicalAreasToConsolidatedTableTextBlock" xlink:to="lab_ms_ReconciliationOfOperatingProfitLossFromGeographicalAreasToConsolidatedTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeitures_f7246300-3367-4cc3-8be3-d42539c0e562_negatedLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeitures" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Forfeited (in shares) </link:label>
<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeitures_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeitures" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Forfeitures </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeitures" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeitures"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeitures" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeitures" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_489195b2-e9d9-4016-9164-7f72759046bf_terseLabel_en-US" xlink:label="lab_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Weighted average antidilutive RSUs and stock options (excluded from the computation of diluted EPS) (shares) </link:label>
<link:label id="lab_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_label_en-US" xlink:label="lab_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" xlink:to="lab_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DerivativeAssetCollateralObligationToReturnCashOffset_b436ecf0-43b8-45bd-ab14-1bf4e8b7a466_negatedLabel_en-US" xlink:label="lab_us-gaap_DerivativeAssetCollateralObligationToReturnCashOffset" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Amounts offset against cash collateral netting </link:label>
<link:label id="lab_us-gaap_DerivativeAssetCollateralObligationToReturnCashOffset_label_en-US" xlink:label="lab_us-gaap_DerivativeAssetCollateralObligationToReturnCashOffset" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative Asset, Subject to Master Netting Arrangement, Collateral, Obligation to Return Cash, Offset Against Derivative Asset </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeAssetCollateralObligationToReturnCashOffset" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DerivativeAssetCollateralObligationToReturnCashOffset"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeAssetCollateralObligationToReturnCashOffset" xlink:to="lab_us-gaap_DerivativeAssetCollateralObligationToReturnCashOffset" xlink:type="arc" order="1"/>
<link:label id="lab_srt_CondensedFinancialStatementsCaptionsLineItems_d7c85bba-d575-4e62-91f8-a9a238b9bca4_terseLabel_en-US" xlink:label="lab_srt_CondensedFinancialStatementsCaptionsLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Condensed Financial Statement </link:label>
<link:label id="lab_srt_CondensedFinancialStatementsCaptionsLineItems_label_en-US" xlink:label="lab_srt_CondensedFinancialStatementsCaptionsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Condensed Financial Statements, Captions [Line Items] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_srt_CondensedFinancialStatementsCaptionsLineItems" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_CondensedFinancialStatementsCaptionsLineItems"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_CondensedFinancialStatementsCaptionsLineItems" xlink:to="lab_srt_CondensedFinancialStatementsCaptionsLineItems" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FairValueMeasurementsFairValueHierarchyDomain_3eecffaf-74fd-4db0-aacc-4a03b85bb255_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value Hierarchy and NAV [Domain] </link:label>
<link:label id="lab_us-gaap_FairValueMeasurementsFairValueHierarchyDomain_label_en-US" xlink:label="lab_us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value Hierarchy and NAV [Domain] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueMeasurementsFairValueHierarchyDomain"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xlink:to="lab_us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xlink:type="arc" order="1"/>
<link:label id="lab_srt_BrokersAndDealersAbstract_adbec8c4-bf95-43ff-9a9c-a814a8f95ee5_terseLabel_en-US" xlink:label="lab_srt_BrokersAndDealersAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Brokers and Dealers [Abstract] </link:label>
<link:label id="lab_srt_BrokersAndDealersAbstract_label_en-US" xlink:label="lab_srt_BrokersAndDealersAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Broker-Dealer [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_srt_BrokersAndDealersAbstract" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_BrokersAndDealersAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_BrokersAndDealersAbstract" xlink:to="lab_srt_BrokersAndDealersAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_dei_IcfrAuditorAttestationFlag_19491ef2-e59c-425e-b7e8-84b133b98311_terseLabel_en-US" xlink:label="lab_dei_IcfrAuditorAttestationFlag" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> ICFR Auditor Attestation Flag </link:label>
<link:label id="lab_dei_IcfrAuditorAttestationFlag_label_en-US" xlink:label="lab_dei_IcfrAuditorAttestationFlag" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> ICFR Auditor Attestation Flag </link:label>
<link:loc xlink:type="locator" xlink:label="loc_dei_IcfrAuditorAttestationFlag" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_IcfrAuditorAttestationFlag"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_IcfrAuditorAttestationFlag" xlink:to="lab_dei_IcfrAuditorAttestationFlag" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_HedgingDesignationAxis_9c315ad0-e18c-4649-81f8-37d82b05b19e_terseLabel_en-US" xlink:label="lab_us-gaap_HedgingDesignationAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Hedging Designation [Axis] </link:label>
<link:label id="lab_us-gaap_HedgingDesignationAxis_label_en-US" xlink:label="lab_us-gaap_HedgingDesignationAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Hedging Designation [Axis] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_HedgingDesignationAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_HedgingDesignationAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_HedgingDesignationAxis" xlink:to="lab_us-gaap_HedgingDesignationAxis" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_GoodwillLineItems_8ef442d2-30be-4107-a415-f919fcc5e784_terseLabel_en-US" xlink:label="lab_us-gaap_GoodwillLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Goodwill </link:label>
<link:label id="lab_us-gaap_GoodwillLineItems_label_en-US" xlink:label="lab_us-gaap_GoodwillLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Goodwill [Line Items] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_GoodwillLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_GoodwillLineItems"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GoodwillLineItems" xlink:to="lab_us-gaap_GoodwillLineItems" xlink:type="arc" order="1"/>
<link:label id="lab_ms_DerivativeCreditRiskRelatedContingentFeaturestriggeringCircumstancesTwoNotchCreditRatingDowngradeMember_d6296fbc-4eb9-48d1-ad42-be886e7f11c0_terseLabel_en-US" xlink:label="lab_ms_DerivativeCreditRiskRelatedContingentFeaturestriggeringCircumstancesTwoNotchCreditRatingDowngradeMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Two-notch downgrade </link:label>
<link:label id="lab_ms_DerivativeCreditRiskRelatedContingentFeaturestriggeringCircumstancesTwoNotchCreditRatingDowngradeMember_label_en-US" xlink:label="lab_ms_DerivativeCreditRiskRelatedContingentFeaturestriggeringCircumstancesTwoNotchCreditRatingDowngradeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative Credit Risk Related Contingent FeaturesTriggering Circumstances Two Notch Credit Rating Downgrade [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_DerivativeCreditRiskRelatedContingentFeaturestriggeringCircumstancesTwoNotchCreditRatingDowngradeMember" xlink:href="ms-20231231.xsd#ms_DerivativeCreditRiskRelatedContingentFeaturestriggeringCircumstancesTwoNotchCreditRatingDowngradeMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_DerivativeCreditRiskRelatedContingentFeaturestriggeringCircumstancesTwoNotchCreditRatingDowngradeMember" xlink:to="lab_ms_DerivativeCreditRiskRelatedContingentFeaturestriggeringCircumstancesTwoNotchCreditRatingDowngradeMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_OffBalanceSheetCreditLossLiabilityCreditLossExpenseReversal_c680913e-efed-476e-86c0-ff287fe6284d_terseLabel_en-US" xlink:label="lab_us-gaap_OffBalanceSheetCreditLossLiabilityCreditLossExpenseReversal" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Provision (release) </link:label>
<link:label id="lab_us-gaap_OffBalanceSheetCreditLossLiabilityCreditLossExpenseReversal_label_en-US" xlink:label="lab_us-gaap_OffBalanceSheetCreditLossLiabilityCreditLossExpenseReversal" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Off-Balance-Sheet, Credit Loss, Liability, Credit Loss Expense (Reversal) </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OffBalanceSheetCreditLossLiabilityCreditLossExpenseReversal" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OffBalanceSheetCreditLossLiabilityCreditLossExpenseReversal"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OffBalanceSheetCreditLossLiabilityCreditLossExpenseReversal" xlink:to="lab_us-gaap_OffBalanceSheetCreditLossLiabilityCreditLossExpenseReversal" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DefinedBenefitPlanContributionsByEmployer_70ae2403-c288-446a-aa02-0352a8e4c6a9_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanContributionsByEmployer" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Employer contributions </link:label>
<link:label id="lab_us-gaap_DefinedBenefitPlanContributionsByEmployer_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanContributionsByEmployer" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Defined Benefit Plan, Plan Assets, Contributions by Employer </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanContributionsByEmployer" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DefinedBenefitPlanContributionsByEmployer"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanContributionsByEmployer" xlink:to="lab_us-gaap_DefinedBenefitPlanContributionsByEmployer" xlink:type="arc" order="1"/>
<link:label id="lab_ms_GlobalMediumTermNotesSeriesAFixedRateStepUpSeniorNotesDue2026ofMorganStanleyFinanceLLCMember_a45cfcb6-fcc4-45db-a276-c079d77661ef_verboseLabel_en-US" xlink:label="lab_ms_GlobalMediumTermNotesSeriesAFixedRateStepUpSeniorNotesDue2026ofMorganStanleyFinanceLLCMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Global Medium-Term Notes, Series A, Fixed Rate Step-Up Senior Notes Due 2026 </link:label>
<link:label id="lab_ms_GlobalMediumTermNotesSeriesAFixedRateStepUpSeniorNotesDue2026ofMorganStanleyFinanceLLCMember_label_en-US" xlink:label="lab_ms_GlobalMediumTermNotesSeriesAFixedRateStepUpSeniorNotesDue2026ofMorganStanleyFinanceLLCMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Global Medium-Term Notes, Series A, Fixed Rate Step-Up Senior Notes Due 2026 of Morgan Stanley Finance LLC [Member] </link:label>
<link:label id="lab_ms_GlobalMediumTermNotesSeriesAFixedRateStepUpSeniorNotesDue2026ofMorganStanleyFinanceLLCMember_documentation_en-US" xlink:label="lab_ms_GlobalMediumTermNotesSeriesAFixedRateStepUpSeniorNotesDue2026ofMorganStanleyFinanceLLCMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Global Medium-Term Notes, Series A, Fixed Rate Step-Up Senior Notes Due 2026 of Morgan Stanley Finance LLC [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_GlobalMediumTermNotesSeriesAFixedRateStepUpSeniorNotesDue2026ofMorganStanleyFinanceLLCMember" xlink:href="ms-20231231.xsd#ms_GlobalMediumTermNotesSeriesAFixedRateStepUpSeniorNotesDue2026ofMorganStanleyFinanceLLCMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_GlobalMediumTermNotesSeriesAFixedRateStepUpSeniorNotesDue2026ofMorganStanleyFinanceLLCMember" xlink:to="lab_ms_GlobalMediumTermNotesSeriesAFixedRateStepUpSeniorNotesDue2026ofMorganStanleyFinanceLLCMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DerivativesFairValueLineItems_4ea08be0-98a0-4884-a56d-05c0c9be744a_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativesFairValueLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative Assets and Liabilities </link:label>
<link:label id="lab_us-gaap_DerivativesFairValueLineItems_label_en-US" xlink:label="lab_us-gaap_DerivativesFairValueLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivatives, Fair Value [Line Items] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativesFairValueLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DerivativesFairValueLineItems"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativesFairValueLineItems" xlink:to="lab_us-gaap_DerivativesFairValueLineItems" xlink:type="arc" order="1"/>
<link:label id="lab_ms_ScheduleOfInterestExpenseBenefitNetOfFederalAndStateIncomeTaxBenefitsTableTextBlock_77e8ea23-f81d-47ac-891d-2869e964ad39_terseLabel_en-US" xlink:label="lab_ms_ScheduleOfInterestExpenseBenefitNetOfFederalAndStateIncomeTaxBenefitsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Interest Expense (Benefit) Associated with Unrecognized Tax Benefits, Net of Federal and State Income Tax Benefits </link:label>
<link:label id="lab_ms_ScheduleOfInterestExpenseBenefitNetOfFederalAndStateIncomeTaxBenefitsTableTextBlock_label_en-US" xlink:label="lab_ms_ScheduleOfInterestExpenseBenefitNetOfFederalAndStateIncomeTaxBenefitsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Interest Expense (Benefit), Net of Federal and State Income Tax Benefits [Table Text Block] </link:label>
<link:label id="lab_ms_ScheduleOfInterestExpenseBenefitNetOfFederalAndStateIncomeTaxBenefitsTableTextBlock_documentation_en-US" xlink:label="lab_ms_ScheduleOfInterestExpenseBenefitNetOfFederalAndStateIncomeTaxBenefitsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Tabular disclosure of interest expense (benefit), net of federal and state income tax benefits. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_ScheduleOfInterestExpenseBenefitNetOfFederalAndStateIncomeTaxBenefitsTableTextBlock" xlink:href="ms-20231231.xsd#ms_ScheduleOfInterestExpenseBenefitNetOfFederalAndStateIncomeTaxBenefitsTableTextBlock"/>
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<link:label id="lab_us-gaap_SecuritiesLoanedNotSubjectToMasterNettingArrangement_8790d90b-e185-49d0-89a3-beb77c535cca_terseLabel_en-US" xlink:label="lab_us-gaap_SecuritiesLoanedNotSubjectToMasterNettingArrangement" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Securities loaned </link:label>
<link:label id="lab_us-gaap_SecuritiesLoanedNotSubjectToMasterNettingArrangement_label_en-US" xlink:label="lab_us-gaap_SecuritiesLoanedNotSubjectToMasterNettingArrangement" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Securities Loaned, Not Subject to Master Netting Arrangement </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_SecuritiesLoanedNotSubjectToMasterNettingArrangement" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SecuritiesLoanedNotSubjectToMasterNettingArrangement"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SecuritiesLoanedNotSubjectToMasterNettingArrangement" xlink:to="lab_us-gaap_SecuritiesLoanedNotSubjectToMasterNettingArrangement" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_SecuritiesLoanedAbstract_95f5169a-c150-4611-8bba-a8fc55ccb3be_terseLabel_en-US" xlink:label="lab_us-gaap_SecuritiesLoanedAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Securities loaned </link:label>
<link:label id="lab_us-gaap_SecuritiesLoanedAbstract_label_en-US" xlink:label="lab_us-gaap_SecuritiesLoanedAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Securities Loaned [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_SecuritiesLoanedAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SecuritiesLoanedAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SecuritiesLoanedAbstract" xlink:to="lab_us-gaap_SecuritiesLoanedAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_ms_OffBalanceSheetLoanCommitmentsAllowanceForCreditExposuresRollForward_b28cea30-a27e-476f-8dda-709a9f73cae1_terseLabel_en-US" xlink:label="lab_ms_OffBalanceSheetLoanCommitmentsAllowanceForCreditExposuresRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Allowance for lending commitments rollforward </link:label>
<link:label id="lab_ms_OffBalanceSheetLoanCommitmentsAllowanceForCreditExposuresRollForward_label_en-US" xlink:label="lab_ms_OffBalanceSheetLoanCommitmentsAllowanceForCreditExposuresRollForward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Off-balance-sheet Loan Commitments, Allowance for Credit Exposures [Roll Forward] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_OffBalanceSheetLoanCommitmentsAllowanceForCreditExposuresRollForward" xlink:href="ms-20231231.xsd#ms_OffBalanceSheetLoanCommitmentsAllowanceForCreditExposuresRollForward"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_OffBalanceSheetLoanCommitmentsAllowanceForCreditExposuresRollForward" xlink:to="lab_ms_OffBalanceSheetLoanCommitmentsAllowanceForCreditExposuresRollForward" xlink:type="arc" order="1"/>
<link:label id="lab_ms_EquityAndIndexContractMember_f52ae0b6-bc54-43c8-a621-94726a40c581_terseLabel_en-US" xlink:label="lab_ms_EquityAndIndexContractMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Equity </link:label>
<link:label id="lab_ms_EquityAndIndexContractMember_label_en-US" xlink:label="lab_ms_EquityAndIndexContractMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Equity and Index Contract [Member] </link:label>
<link:label id="lab_ms_EquityAndIndexContractMember_documentation_en-US" xlink:label="lab_ms_EquityAndIndexContractMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative instrument whose primary underlying risk is tied to share prices and share indices. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_EquityAndIndexContractMember" xlink:href="ms-20231231.xsd#ms_EquityAndIndexContractMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_EquityAndIndexContractMember" xlink:to="lab_ms_EquityAndIndexContractMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_InterestRateCashFlowHedgesAbstract_afb4db6f-daaa-46b9-8069-94b7079a232d_terseLabel_en-US" xlink:label="lab_us-gaap_InterestRateCashFlowHedgesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Cash Flow Hedges - Interest Rate Contracts Recognized in Interest Income </link:label>
<link:label id="lab_us-gaap_InterestRateCashFlowHedgesAbstract_label_en-US" xlink:label="lab_us-gaap_InterestRateCashFlowHedgesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Interest Rate Cash Flow Hedges [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestRateCashFlowHedgesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_InterestRateCashFlowHedgesAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestRateCashFlowHedgesAbstract" xlink:to="lab_us-gaap_InterestRateCashFlowHedgesAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_PropertyPlantAndEquipmentLineItems_106edeb3-a60c-4db1-9891-a14f89e61f05_terseLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Premises, Equipment and Capitalized Software Costs </link:label>
<link:label id="lab_us-gaap_PropertyPlantAndEquipmentLineItems_label_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Property, Plant and Equipment [Line Items] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PropertyPlantAndEquipmentLineItems"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentLineItems" xlink:to="lab_us-gaap_PropertyPlantAndEquipmentLineItems" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DefinedBenefitPlanExpectedFutureEmployerContributionsNextFiscalYear_a701c3bc-0cf3-4b19-b542-80bab6e44789_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanExpectedFutureEmployerContributionsNextFiscalYear" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Expected contributions by employer in 2021 </link:label>
<link:label id="lab_us-gaap_DefinedBenefitPlanExpectedFutureEmployerContributionsNextFiscalYear_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanExpectedFutureEmployerContributionsNextFiscalYear" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanExpectedFutureEmployerContributionsNextFiscalYear" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DefinedBenefitPlanExpectedFutureEmployerContributionsNextFiscalYear"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanExpectedFutureEmployerContributionsNextFiscalYear" xlink:to="lab_us-gaap_DefinedBenefitPlanExpectedFutureEmployerContributionsNextFiscalYear" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DerivativeAssetNotionalAmount_b883236f-b193-4150-8ea9-cfa34294b8c3_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeAssetNotionalAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative assets </link:label>
<link:label id="lab_us-gaap_DerivativeAssetNotionalAmount_label_en-US" xlink:label="lab_us-gaap_DerivativeAssetNotionalAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative Asset, Notional Amount </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeAssetNotionalAmount" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DerivativeAssetNotionalAmount"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeAssetNotionalAmount" xlink:to="lab_us-gaap_DerivativeAssetNotionalAmount" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_12ea839d-1766-4794-934d-7649f19aab4f_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Intangible assets, accumulated amortization </link:label>
<link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_23c469ea-7246-4918-82c8-63585d531e1f_verboseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Accumulated Amortization </link:label>
<link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Finite-Lived Intangible Assets, Accumulated Amortization </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_a0ff752e-6161-4ba2-937c-4eb2d58a6203_terseLabel_en-US" xlink:label="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearTwo" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Year Two </link:label>
<link:label id="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_label_en-US" xlink:label="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearTwo" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Lessee, Operating Lease, Liability, to be Paid, Year Two </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearTwo" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearTwo"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearTwo" xlink:to="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearTwo" xlink:type="arc" order="1"/>
<link:label id="lab_ms_TotalIndexAndBasketCreditDefaultSwapsMember_5d515309-5d3d-44d8-b989-6775f1adfe8a_terseLabel_en-US" xlink:label="lab_ms_TotalIndexAndBasketCreditDefaultSwapsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Index and basket CDS </link:label>
<link:label id="lab_ms_TotalIndexAndBasketCreditDefaultSwapsMember_label_en-US" xlink:label="lab_ms_TotalIndexAndBasketCreditDefaultSwapsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Total Index and Basket Credit Default Swaps [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_TotalIndexAndBasketCreditDefaultSwapsMember" xlink:href="ms-20231231.xsd#ms_TotalIndexAndBasketCreditDefaultSwapsMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_TotalIndexAndBasketCreditDefaultSwapsMember" xlink:to="lab_ms_TotalIndexAndBasketCreditDefaultSwapsMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FederalFundsSoldAndSecuritiesPurchasedUnderAgreementsToResell_4a72fa17-b64e-4c67-b22c-e72d8d65358d_terseLabel_en-US" xlink:label="lab_us-gaap_FederalFundsSoldAndSecuritiesPurchasedUnderAgreementsToResell" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Securities purchased  under agreements to resell </link:label>
<link:label id="lab_us-gaap_FederalFundsSoldAndSecuritiesPurchasedUnderAgreementsToResell_label_en-US" xlink:label="lab_us-gaap_FederalFundsSoldAndSecuritiesPurchasedUnderAgreementsToResell" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Federal Funds Sold and Securities Purchased under Agreements to Resell </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FederalFundsSoldAndSecuritiesPurchasedUnderAgreementsToResell" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FederalFundsSoldAndSecuritiesPurchasedUnderAgreementsToResell"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FederalFundsSoldAndSecuritiesPurchasedUnderAgreementsToResell" xlink:to="lab_us-gaap_FederalFundsSoldAndSecuritiesPurchasedUnderAgreementsToResell" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_GainLossOnFairValueHedgesRecognizedInEarningsAbstract_637ab2ae-3091-47bd-acf1-f609bc2d5e2e_terseLabel_en-US" xlink:label="lab_us-gaap_GainLossOnFairValueHedgesRecognizedInEarningsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Gain (Loss) on Fair Value Hedges Recognized in Interest Income / Expense </link:label>
<link:label id="lab_us-gaap_GainLossOnFairValueHedgesRecognizedInEarningsAbstract_label_en-US" xlink:label="lab_us-gaap_GainLossOnFairValueHedgesRecognizedInEarningsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Gain (Loss) on Fair Value Hedges Recognized in Earnings [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_GainLossOnFairValueHedgesRecognizedInEarningsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_GainLossOnFairValueHedgesRecognizedInEarningsAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GainLossOnFairValueHedgesRecognizedInEarningsAbstract" xlink:to="lab_us-gaap_GainLossOnFairValueHedgesRecognizedInEarningsAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DefinedBenefitPlanWeightedAverageAssumptionsUsedInCalculatingBenefitObligationAbstract_c2e4258f-01cd-4b00-bcb1-75a30623a890_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanWeightedAverageAssumptionsUsedInCalculatingBenefitObligationAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Weighted Average Assumptions Used to Determine Benefit Obligation </link:label>
<link:label id="lab_us-gaap_DefinedBenefitPlanWeightedAverageAssumptionsUsedInCalculatingBenefitObligationAbstract_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanWeightedAverageAssumptionsUsedInCalculatingBenefitObligationAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanWeightedAverageAssumptionsUsedInCalculatingBenefitObligationAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DefinedBenefitPlanWeightedAverageAssumptionsUsedInCalculatingBenefitObligationAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanWeightedAverageAssumptionsUsedInCalculatingBenefitObligationAbstract" xlink:to="lab_us-gaap_DefinedBenefitPlanWeightedAverageAssumptionsUsedInCalculatingBenefitObligationAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_StockRedeemedOrCalledDuringPeriodValue_f7504232-2e90-4ffd-aaa2-1efe4d9f8101_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_StockRedeemedOrCalledDuringPeriodValue" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Redemption of preferred stock </link:label>
<link:label id="lab_us-gaap_StockRedeemedOrCalledDuringPeriodValue_label_en-US" xlink:label="lab_us-gaap_StockRedeemedOrCalledDuringPeriodValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Stock Redeemed or Called During Period, Value </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockRedeemedOrCalledDuringPeriodValue" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_StockRedeemedOrCalledDuringPeriodValue"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockRedeemedOrCalledDuringPeriodValue" xlink:to="lab_us-gaap_StockRedeemedOrCalledDuringPeriodValue" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_OtherCommitmentDueAfterFifthYear_ae2e8a81-7b52-4b5b-9080-4ef58285d600_terseLabel_en-US" xlink:label="lab_us-gaap_OtherCommitmentDueAfterFifthYear" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Over 5 (years) </link:label>
<link:label id="lab_us-gaap_OtherCommitmentDueAfterFifthYear_label_en-US" xlink:label="lab_us-gaap_OtherCommitmentDueAfterFifthYear" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other Commitment, to be Paid, after Year Five </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherCommitmentDueAfterFifthYear" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OtherCommitmentDueAfterFifthYear"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherCommitmentDueAfterFifthYear" xlink:to="lab_us-gaap_OtherCommitmentDueAfterFifthYear" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_7e69de2f-263a-4f3f-8be3-2813b8a594ed_terseLabel_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Accumulated other comprehensive income (loss) </link:label>
<link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_df95a206-c276-475a-8d6d-28a5840d420e_verboseLabel_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Accumulated other comprehensive income (loss) </link:label>
<link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_label_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Accumulated Other Comprehensive Income (Loss), Net of Tax </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:to="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax_db29ebbe-11c3-42f0-9373-a815bddda939_totalLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> OCI activity </link:label>
<link:label id="lab_us-gaap_OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax_label_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other Comprehensive Income (Loss), before Reclassifications, Net of Tax </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax" xlink:to="lab_us-gaap_OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_EmployeeStockOptionMember_14684ae7-01d9-4c9a-b52b-b926417687b0_terseLabel_en-US" xlink:label="lab_us-gaap_EmployeeStockOptionMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> ESPP </link:label>
<link:label id="lab_us-gaap_EmployeeStockOptionMember_label_en-US" xlink:label="lab_us-gaap_EmployeeStockOptionMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Employee Stock Option [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_EmployeeStockOptionMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_EmployeeStockOptionMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EmployeeStockOptionMember" xlink:to="lab_us-gaap_EmployeeStockOptionMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_CapitalRequiredToBeWellCapitalizedToRiskWeightedAssets_3c696274-05c5-4bd4-9a8d-789cd7cafd4b_terseLabel_en-US" xlink:label="lab_us-gaap_CapitalRequiredToBeWellCapitalizedToRiskWeightedAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Total capital (as a percent) </link:label>
<link:label id="lab_us-gaap_CapitalRequiredToBeWellCapitalizedToRiskWeightedAssets_label_en-US" xlink:label="lab_us-gaap_CapitalRequiredToBeWellCapitalizedToRiskWeightedAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Banking Regulation, Total Risk-Based Capital Ratio, Well Capitalized, Minimum </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CapitalRequiredToBeWellCapitalizedToRiskWeightedAssets" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CapitalRequiredToBeWellCapitalizedToRiskWeightedAssets"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CapitalRequiredToBeWellCapitalizedToRiskWeightedAssets" xlink:to="lab_us-gaap_CapitalRequiredToBeWellCapitalizedToRiskWeightedAssets" xlink:type="arc" order="1"/>
<link:label id="lab_ms_ScheduleOfMarginLoansTableTextBlock_c30ad987-5e9f-41f0-beff-a2dfc95c9cd5_terseLabel_en-US" xlink:label="lab_ms_ScheduleOfMarginLoansTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Customer Margin and Other Lending </link:label>
<link:label id="lab_ms_ScheduleOfMarginLoansTableTextBlock_label_en-US" xlink:label="lab_ms_ScheduleOfMarginLoansTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Margin Loans [Table Text Block] </link:label>
<link:label id="lab_ms_ScheduleOfMarginLoansTableTextBlock_documentation_en-US" xlink:label="lab_ms_ScheduleOfMarginLoansTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Tabular disclusure of customer margin loans, which are collaterized by customer-owned securities held by the entity. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_ScheduleOfMarginLoansTableTextBlock" xlink:href="ms-20231231.xsd#ms_ScheduleOfMarginLoansTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_ScheduleOfMarginLoansTableTextBlock" xlink:to="lab_ms_ScheduleOfMarginLoansTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_ms_FinancingReceivableModifiedLineItems_9b009892-bcdf-4619-9ea4-5758f0ba4471_terseLabel_en-US" xlink:label="lab_ms_FinancingReceivableModifiedLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financing Receivable, Modified [Line Items] </link:label>
<link:label id="lab_ms_FinancingReceivableModifiedLineItems_label_en-US" xlink:label="lab_ms_FinancingReceivableModifiedLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financing Receivable, Modified [Line Items] </link:label>
<link:label id="lab_ms_FinancingReceivableModifiedLineItems_documentation_en-US" xlink:label="lab_ms_FinancingReceivableModifiedLineItems" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financing Receivable, Modified [Line Items] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_FinancingReceivableModifiedLineItems" xlink:href="ms-20231231.xsd#ms_FinancingReceivableModifiedLineItems"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_FinancingReceivableModifiedLineItems" xlink:to="lab_ms_FinancingReceivableModifiedLineItems" xlink:type="arc" order="1"/>
<link:label id="lab_ms_OtherSecuredFinancingsMember_4a9c3d57-2272-40fb-80f2-d4a3c9d3240e_terseLabel_en-US" xlink:label="lab_ms_OtherSecuredFinancingsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other secured financings </link:label>
<link:label id="lab_ms_OtherSecuredFinancingsMember_label_en-US" xlink:label="lab_ms_OtherSecuredFinancingsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other Secured Financings [Member] </link:label>
<link:label id="lab_ms_OtherSecuredFinancingsMember_documentation_en-US" xlink:label="lab_ms_OtherSecuredFinancingsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other Secured Financings [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_OtherSecuredFinancingsMember" xlink:href="ms-20231231.xsd#ms_OtherSecuredFinancingsMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_OtherSecuredFinancingsMember" xlink:to="lab_ms_OtherSecuredFinancingsMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_855e5db2-fb24-4c64-982f-e1877bfe6570_totalLabel_en-US" xlink:label="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Total </link:label>
<link:label id="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_label_en-US" xlink:label="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:to="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_GoodwillAcquiredDuringPeriod_bac859fe-1044-41e2-9c6a-40a56b6ce818_terseLabel_en-US" xlink:label="lab_us-gaap_GoodwillAcquiredDuringPeriod" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Acquired </link:label>
<link:label id="lab_us-gaap_GoodwillAcquiredDuringPeriod_label_en-US" xlink:label="lab_us-gaap_GoodwillAcquiredDuringPeriod" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Goodwill, Acquired During Period </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_GoodwillAcquiredDuringPeriod" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_GoodwillAcquiredDuringPeriod"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GoodwillAcquiredDuringPeriod" xlink:to="lab_us-gaap_GoodwillAcquiredDuringPeriod" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DefinedBenefitPlanSettlementsBenefitObligation_bda22563-f671-4d62-a241-e12358c43df6_negatedLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanSettlementsBenefitObligation" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Plan settlements </link:label>
<link:label id="lab_us-gaap_DefinedBenefitPlanSettlementsBenefitObligation_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanSettlementsBenefitObligation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Defined Benefit Plan, Benefit Obligation, (Increase) Decrease for Settlement </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanSettlementsBenefitObligation" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DefinedBenefitPlanSettlementsBenefitObligation"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanSettlementsBenefitObligation" xlink:to="lab_us-gaap_DefinedBenefitPlanSettlementsBenefitObligation" xlink:type="arc" order="1"/>
<link:label id="lab_ms_WellCapitalizedRequirementRatioAbstract_464585ef-2ea3-4830-9bbf-3afd03675044_terseLabel_en-US" xlink:label="lab_ms_WellCapitalizedRequirementRatioAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Required Ratio </link:label>
<link:label id="lab_ms_WellCapitalizedRequirementRatioAbstract_label_en-US" xlink:label="lab_ms_WellCapitalizedRequirementRatioAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Well-Capitalized Requirement Ratio [Abstract] </link:label>
<link:label id="lab_ms_WellCapitalizedRequirementRatioAbstract_documentation_en-US" xlink:label="lab_ms_WellCapitalizedRequirementRatioAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Well-Capitalized Requirement Ratio </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_WellCapitalizedRequirementRatioAbstract" xlink:href="ms-20231231.xsd#ms_WellCapitalizedRequirementRatioAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_WellCapitalizedRequirementRatioAbstract" xlink:to="lab_ms_WellCapitalizedRequirementRatioAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_CurrentFederalTaxExpenseBenefit_6c9ee97c-11d5-4869-a8b3-7a42edd99cf4_terseLabel_en-US" xlink:label="lab_us-gaap_CurrentFederalTaxExpenseBenefit" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> U.S. federal </link:label>
<link:label id="lab_us-gaap_CurrentFederalTaxExpenseBenefit_label_en-US" xlink:label="lab_us-gaap_CurrentFederalTaxExpenseBenefit" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Current Federal Tax Expense (Benefit) </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CurrentFederalTaxExpenseBenefit" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CurrentFederalTaxExpenseBenefit"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CurrentFederalTaxExpenseBenefit" xlink:to="lab_us-gaap_CurrentFederalTaxExpenseBenefit" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_OtherNoncashIncomeExpense_f66acf75-24fd-457a-a58f-0fffc917b7ae_negatedLabel_en-US" xlink:label="lab_us-gaap_OtherNoncashIncomeExpense" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other operating adjustments </link:label>
<link:label id="lab_us-gaap_OtherNoncashIncomeExpense_label_en-US" xlink:label="lab_us-gaap_OtherNoncashIncomeExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other Noncash Income (Expense) </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherNoncashIncomeExpense" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OtherNoncashIncomeExpense"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherNoncashIncomeExpense" xlink:to="lab_us-gaap_OtherNoncashIncomeExpense" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesDebt_910b3315-4662-461f-b848-e0fd5853eaf8_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesDebt" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Purchases </link:label>
<link:label id="lab_us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesDebt_label_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesDebt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Payments to Acquire Debt Securities, Available-for-Sale </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesDebt" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesDebt"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesDebt" xlink:to="lab_us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesDebt" xlink:type="arc" order="1"/>
<link:label id="lab_ms_VariableInterestEntitiesAndSecuritizationActivitiesAbstract_e46c744e-d2ec-4a98-aa3b-833710bd19e1_terseLabel_en-US" xlink:label="lab_ms_VariableInterestEntitiesAndSecuritizationActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Variable Interest Entities and Securitization Activities [Abstract] </link:label>
<link:label id="lab_ms_VariableInterestEntitiesAndSecuritizationActivitiesAbstract_label_en-US" xlink:label="lab_ms_VariableInterestEntitiesAndSecuritizationActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Variable Interest Entities and Securitization Activities [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_VariableInterestEntitiesAndSecuritizationActivitiesAbstract" xlink:href="ms-20231231.xsd#ms_VariableInterestEntitiesAndSecuritizationActivitiesAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_VariableInterestEntitiesAndSecuritizationActivitiesAbstract" xlink:to="lab_ms_VariableInterestEntitiesAndSecuritizationActivitiesAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_ms_SpecialPurposeEntitiesMember_e12b6fa9-7f23-43c7-996a-1086e3507b90_verboseLabel_en-US" xlink:label="lab_ms_SpecialPurposeEntitiesMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> SPE </link:label>
<link:label id="lab_ms_SpecialPurposeEntitiesMember_label_en-US" xlink:label="lab_ms_SpecialPurposeEntitiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Special Purpose Entities [Member] </link:label>
<link:label id="lab_ms_SpecialPurposeEntitiesMember_documentation_en-US" xlink:label="lab_ms_SpecialPurposeEntitiesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Special Purpose Entities [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_SpecialPurposeEntitiesMember" xlink:href="ms-20231231.xsd#ms_SpecialPurposeEntitiesMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_SpecialPurposeEntitiesMember" xlink:to="lab_ms_SpecialPurposeEntitiesMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_TroubledDebtRestructuringsOnFinancingReceivablesTableTextBlock_67c8aae3-7b3d-42b8-9500-b6802e805656_terseLabel_en-US" xlink:label="lab_us-gaap_TroubledDebtRestructuringsOnFinancingReceivablesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Modified Loans and Troubled Debt Restructurings </link:label>
<link:label id="lab_us-gaap_TroubledDebtRestructuringsOnFinancingReceivablesTableTextBlock_label_en-US" xlink:label="lab_us-gaap_TroubledDebtRestructuringsOnFinancingReceivablesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financing Receivable, Modified [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_TroubledDebtRestructuringsOnFinancingReceivablesTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_TroubledDebtRestructuringsOnFinancingReceivablesTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TroubledDebtRestructuringsOnFinancingReceivablesTableTextBlock" xlink:to="lab_us-gaap_TroubledDebtRestructuringsOnFinancingReceivablesTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityTransfersNet_eecc8d32-3bfb-4079-8a49-7c241dc58106_verboseLabel_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityTransfersNet" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Net transfers </link:label>
<link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityTransfersNet_label_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityTransfersNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Transfers, Net </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityTransfersNet" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityTransfersNet"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityTransfersNet" xlink:to="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityTransfersNet" xlink:type="arc" order="1"/>
<link:label id="lab_ms_ShareBasedPaymentArrangementPerformanceSharesValuationMethodRiskFreeInterestRate_105f12fa-f35e-436b-929e-83b090e9403f_terseLabel_en-US" xlink:label="lab_ms_ShareBasedPaymentArrangementPerformanceSharesValuationMethodRiskFreeInterestRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Risk-free interest rate (as a percent) </link:label>
<link:label id="lab_ms_ShareBasedPaymentArrangementPerformanceSharesValuationMethodRiskFreeInterestRate_label_en-US" xlink:label="lab_ms_ShareBasedPaymentArrangementPerformanceSharesValuationMethodRiskFreeInterestRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Share-based Payment Arrangement, Performance Shares, Valuation Method, Risk Free Interest Rate </link:label>
<link:label id="lab_ms_ShareBasedPaymentArrangementPerformanceSharesValuationMethodRiskFreeInterestRate_documentation_en-US" xlink:label="lab_ms_ShareBasedPaymentArrangementPerformanceSharesValuationMethodRiskFreeInterestRate" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> The risk-free interest rate assumption that is used in valuing a performance share. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_ShareBasedPaymentArrangementPerformanceSharesValuationMethodRiskFreeInterestRate" xlink:href="ms-20231231.xsd#ms_ShareBasedPaymentArrangementPerformanceSharesValuationMethodRiskFreeInterestRate"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_ShareBasedPaymentArrangementPerformanceSharesValuationMethodRiskFreeInterestRate" xlink:to="lab_ms_ShareBasedPaymentArrangementPerformanceSharesValuationMethodRiskFreeInterestRate" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_SecuritiesSoldUnderAgreementsToRepurchaseAbstract_0991e0c4-aa0e-4422-8954-95d02af51e38_terseLabel_en-US" xlink:label="lab_us-gaap_SecuritiesSoldUnderAgreementsToRepurchaseAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Securities sold under agreements to repurchase </link:label>
<link:label id="lab_us-gaap_SecuritiesSoldUnderAgreementsToRepurchaseAbstract_label_en-US" xlink:label="lab_us-gaap_SecuritiesSoldUnderAgreementsToRepurchaseAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Securities Sold under Agreements to Repurchase [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_SecuritiesSoldUnderAgreementsToRepurchaseAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SecuritiesSoldUnderAgreementsToRepurchaseAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SecuritiesSoldUnderAgreementsToRepurchaseAbstract" xlink:to="lab_us-gaap_SecuritiesSoldUnderAgreementsToRepurchaseAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DefinedBenefitPlanActuarialGainLoss_d3d059e5-12d2-41ba-8c21-fcdd02fb26c6_negatedLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanActuarialGainLoss" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Actuarial loss (gain) </link:label>
<link:label id="lab_us-gaap_DefinedBenefitPlanActuarialGainLoss_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanActuarialGainLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Defined Benefit Plan, Benefit Obligation, Actuarial Gain (Loss) </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanActuarialGainLoss" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DefinedBenefitPlanActuarialGainLoss"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanActuarialGainLoss" xlink:to="lab_us-gaap_DefinedBenefitPlanActuarialGainLoss" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_RelatedPartyDomain_cd323a60-cdd6-4fd0-9ed0-c9007499a1db_terseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Related Party, Type [Domain] </link:label>
<link:label id="lab_us-gaap_RelatedPartyDomain_label_en-US" xlink:label="lab_us-gaap_RelatedPartyDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Related Party, Type [Domain] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_RelatedPartyDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_RelatedPartyDomain"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyDomain" xlink:to="lab_us-gaap_RelatedPartyDomain" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest_89587261-4ca8-4913-a2e1-d6396ecc26f1_terseLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other comprehensive income (loss) applicable to noncontrolling interests </link:label>
<link:label id="lab_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest_label_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Noncontrolling Interest </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest" xlink:to="lab_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_CommercialPortfolioSegmentMember_de0a4cd3-b3b0-49fc-97bc-8fa555979238_terseLabel_en-US" xlink:label="lab_us-gaap_CommercialPortfolioSegmentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Corporate </link:label>
<link:label id="lab_us-gaap_CommercialPortfolioSegmentMember_label_en-US" xlink:label="lab_us-gaap_CommercialPortfolioSegmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Commercial Portfolio Segment [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommercialPortfolioSegmentMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CommercialPortfolioSegmentMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommercialPortfolioSegmentMember" xlink:to="lab_us-gaap_CommercialPortfolioSegmentMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwill_fe6c2e73-0c04-46a8-b149-f07cffaa95c1_terseLabel_en-US" xlink:label="lab_us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwill" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Non-amortizable assets - gross carrying amount </link:label>
<link:label id="lab_us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwill_label_en-US" xlink:label="lab_us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwill" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Indefinite-Lived Intangible Assets (Excluding Goodwill) </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwill" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwill"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwill" xlink:to="lab_us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwill" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_c7798178-e2e0-4dac-b9f1-68022fa72ac7_periodStartLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Unvested RSUs at beginning of period (in dollars per share) </link:label>
<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_b98c6d96-9e28-49c8-9bfe-1115de50db5c_periodEndLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Unvested RSUs at end of period (in dollars per share) </link:label>
<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_IncomeTaxDisclosureAbstract_65ba1b3b-d5be-4ab0-a3e1-240a4f2bfb96_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Income Tax Disclosure [Abstract] </link:label>
<link:label id="lab_us-gaap_IncomeTaxDisclosureAbstract_label_en-US" xlink:label="lab_us-gaap_IncomeTaxDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Income Tax Disclosure [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeTaxDisclosureAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_IncomeTaxDisclosureAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeTaxDisclosureAbstract" xlink:to="lab_us-gaap_IncomeTaxDisclosureAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_ms_BankingRegulationCapitalBufferRequirementAdvanced_6e4a6600-7c27-4133-92b7-0db0f0839d60_terseLabel_en-US" xlink:label="lab_ms_BankingRegulationCapitalBufferRequirementAdvanced" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Advanced (as a percent) </link:label>
<link:label id="lab_ms_BankingRegulationCapitalBufferRequirementAdvanced_label_en-US" xlink:label="lab_ms_BankingRegulationCapitalBufferRequirementAdvanced" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Banking Regulation, Capital Buffer Requirement, Advanced </link:label>
<link:label id="lab_ms_BankingRegulationCapitalBufferRequirementAdvanced_documentation_en-US" xlink:label="lab_ms_BankingRegulationCapitalBufferRequirementAdvanced" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Banking Regulation, Capital Buffer Requirement, Advanced </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_BankingRegulationCapitalBufferRequirementAdvanced" xlink:href="ms-20231231.xsd#ms_BankingRegulationCapitalBufferRequirementAdvanced"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_BankingRegulationCapitalBufferRequirementAdvanced" xlink:to="lab_ms_BankingRegulationCapitalBufferRequirementAdvanced" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock_682d8e50-8612-4958-be8f-397496f65502_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Loans by Type </link:label>
<link:label id="lab_us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock" xlink:to="lab_us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_dei_EntityTaxIdentificationNumber_c59340a2-2ec2-400a-a97e-7207b6ad36a8_terseLabel_en-US" xlink:label="lab_dei_EntityTaxIdentificationNumber" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Entity Tax Identification Number </link:label>
<link:label id="lab_dei_EntityTaxIdentificationNumber_label_en-US" xlink:label="lab_dei_EntityTaxIdentificationNumber" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Entity Tax Identification Number </link:label>
<link:loc xlink:type="locator" xlink:label="loc_dei_EntityTaxIdentificationNumber" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityTaxIdentificationNumber"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityTaxIdentificationNumber" xlink:to="lab_dei_EntityTaxIdentificationNumber" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_SeriesHPreferredStockMember_bf487c3a-67fd-4e41-8fb8-ef075ee00c75_terseLabel_en-US" xlink:label="lab_us-gaap_SeriesHPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Series H </link:label>
<link:label id="lab_us-gaap_SeriesHPreferredStockMember_label_en-US" xlink:label="lab_us-gaap_SeriesHPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Series H Preferred Stock [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_SeriesHPreferredStockMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SeriesHPreferredStockMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SeriesHPreferredStockMember" xlink:to="lab_us-gaap_SeriesHPreferredStockMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_LeaseCost_15c59b96-2ee4-45e3-b683-91788eb798f2_totalLabel_en-US" xlink:label="lab_us-gaap_LeaseCost" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Total lease cost, net </link:label>
<link:label id="lab_us-gaap_LeaseCost_label_en-US" xlink:label="lab_us-gaap_LeaseCost" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Lease, Cost </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LeaseCost" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LeaseCost"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LeaseCost" xlink:to="lab_us-gaap_LeaseCost" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_OtherComprehensiveIncomeMember_783435e6-7560-4f7c-8c3a-161b03ac94bd_terseLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> OCI </link:label>
<link:label id="lab_us-gaap_OtherComprehensiveIncomeMember_label_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other Comprehensive Income (Loss) [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OtherComprehensiveIncomeMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherComprehensiveIncomeMember" xlink:to="lab_us-gaap_OtherComprehensiveIncomeMember" xlink:type="arc" order="1"/>
<link:label id="lab_srt_RangeAxis_14c217ae-d006-4f15-af4c-e1d7715be655_terseLabel_en-US" xlink:label="lab_srt_RangeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Statistical Measurement [Axis] </link:label>
<link:label id="lab_srt_RangeAxis_label_en-US" xlink:label="lab_srt_RangeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Statistical Measurement [Axis] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_srt_RangeAxis" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_RangeAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_RangeAxis" xlink:to="lab_srt_RangeAxis" xlink:type="arc" order="1"/>
<link:label id="lab_ms_BankingRegulationGlobalSystemicallyImportantBankGSIBSurchargeAdvanced_92189c1f-e990-406f-a259-1ccb148d79f3_terseLabel_en-US" xlink:label="lab_ms_BankingRegulationGlobalSystemicallyImportantBankGSIBSurchargeAdvanced" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Advanced (as a percent) </link:label>
<link:label id="lab_ms_BankingRegulationGlobalSystemicallyImportantBankGSIBSurchargeAdvanced_label_en-US" xlink:label="lab_ms_BankingRegulationGlobalSystemicallyImportantBankGSIBSurchargeAdvanced" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Banking Regulation, Global Systemically Important Bank (GSIB) Surcharge, Advanced </link:label>
<link:label id="lab_ms_BankingRegulationGlobalSystemicallyImportantBankGSIBSurchargeAdvanced_documentation_en-US" xlink:label="lab_ms_BankingRegulationGlobalSystemicallyImportantBankGSIBSurchargeAdvanced" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Banking Regulation, Global Systemically Important Bank (GSIB) Surcharge, Advanced </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_BankingRegulationGlobalSystemicallyImportantBankGSIBSurchargeAdvanced" xlink:href="ms-20231231.xsd#ms_BankingRegulationGlobalSystemicallyImportantBankGSIBSurchargeAdvanced"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_BankingRegulationGlobalSystemicallyImportantBankGSIBSurchargeAdvanced" xlink:to="lab_ms_BankingRegulationGlobalSystemicallyImportantBankGSIBSurchargeAdvanced" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_BalanceSheetLocationDomain_9dde4759-2347-4824-8717-99053a1e912d_terseLabel_en-US" xlink:label="lab_us-gaap_BalanceSheetLocationDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Balance Sheet Location [Domain] </link:label>
<link:label id="lab_us-gaap_BalanceSheetLocationDomain_label_en-US" xlink:label="lab_us-gaap_BalanceSheetLocationDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Balance Sheet Location [Domain] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_BalanceSheetLocationDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_BalanceSheetLocationDomain"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BalanceSheetLocationDomain" xlink:to="lab_us-gaap_BalanceSheetLocationDomain" xlink:type="arc" order="1"/>
<link:label id="lab_ms_TradingAssetsPledgedAsCollateralAtFairValue_40805cb1-9b2f-4ab5-863c-4d48e4dfde08_terseLabel_en-US" xlink:label="lab_ms_TradingAssetsPledgedAsCollateralAtFairValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Trading assets pledged to various parties </link:label>
<link:label id="lab_ms_TradingAssetsPledgedAsCollateralAtFairValue_label_en-US" xlink:label="lab_ms_TradingAssetsPledgedAsCollateralAtFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Trading Assets, Pledged as Collateral, at Fair Value </link:label>
<link:label id="lab_ms_TradingAssetsPledgedAsCollateralAtFairValue_documentation_en-US" xlink:label="lab_ms_TradingAssetsPledgedAsCollateralAtFairValue" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> The fair value as of the balance sheet date of trading assets pledged to counterparties as collateral. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_TradingAssetsPledgedAsCollateralAtFairValue" xlink:href="ms-20231231.xsd#ms_TradingAssetsPledgedAsCollateralAtFairValue"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_TradingAssetsPledgedAsCollateralAtFairValue" xlink:to="lab_ms_TradingAssetsPledgedAsCollateralAtFairValue" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ScheduleOfRealizedGainLossTableTextBlock_edc7550b-1f9b-48ba-a4c2-f7de89126b9b_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfRealizedGainLossTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Gross Realized Gains and Losses on Sales of AFS Securities </link:label>
<link:label id="lab_us-gaap_ScheduleOfRealizedGainLossTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfRealizedGainLossTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Realized Gain (Loss) [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfRealizedGainLossTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfRealizedGainLossTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfRealizedGainLossTableTextBlock" xlink:to="lab_us-gaap_ScheduleOfRealizedGainLossTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ResidentialPortfolioSegmentMember_9fa21913-89bb-41b7-9c7d-931dfdc945c5_terseLabel_en-US" xlink:label="lab_us-gaap_ResidentialPortfolioSegmentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Residential real estate </link:label>
<link:label id="lab_us-gaap_ResidentialPortfolioSegmentMember_label_en-US" xlink:label="lab_us-gaap_ResidentialPortfolioSegmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Residential Portfolio Segment [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ResidentialPortfolioSegmentMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ResidentialPortfolioSegmentMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ResidentialPortfolioSegmentMember" xlink:to="lab_us-gaap_ResidentialPortfolioSegmentMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DividendsCommonStockAbstract_a8bfdf8d-fe40-4f06-9c72-b12fdead6184_terseLabel_en-US" xlink:label="lab_us-gaap_DividendsCommonStockAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Common Stock Dividends </link:label>
<link:label id="lab_us-gaap_DividendsCommonStockAbstract_label_en-US" xlink:label="lab_us-gaap_DividendsCommonStockAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Dividends, Common Stock [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DividendsCommonStockAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DividendsCommonStockAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DividendsCommonStockAbstract" xlink:to="lab_us-gaap_DividendsCommonStockAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_dei_EntityWellKnownSeasonedIssuer_cf7717f1-df2e-4ed3-a185-6ee220b1eeef_terseLabel_en-US" xlink:label="lab_dei_EntityWellKnownSeasonedIssuer" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Entity Well-known Seasoned Issuer </link:label>
<link:label id="lab_dei_EntityWellKnownSeasonedIssuer_label_en-US" xlink:label="lab_dei_EntityWellKnownSeasonedIssuer" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Entity Well-known Seasoned Issuer </link:label>
<link:loc xlink:type="locator" xlink:label="loc_dei_EntityWellKnownSeasonedIssuer" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityWellKnownSeasonedIssuer"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityWellKnownSeasonedIssuer" xlink:to="lab_dei_EntityWellKnownSeasonedIssuer" xlink:type="arc" order="1"/>
<link:label id="lab_ms_TransferOfFinancialAssetsAssetsSoldWithRetainedExposureAbstract_d14f6787-e4ee-4e52-82ea-063d0afcaa6a_terseLabel_en-US" xlink:label="lab_ms_TransferOfFinancialAssetsAssetsSoldWithRetainedExposureAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair value </link:label>
<link:label id="lab_ms_TransferOfFinancialAssetsAssetsSoldWithRetainedExposureAbstract_label_en-US" xlink:label="lab_ms_TransferOfFinancialAssetsAssetsSoldWithRetainedExposureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Transfer Of Financial Assets, Assets Sold With Retained Exposure [Abstract] </link:label>
<link:label id="lab_ms_TransferOfFinancialAssetsAssetsSoldWithRetainedExposureAbstract_documentation_en-US" xlink:label="lab_ms_TransferOfFinancialAssetsAssetsSoldWithRetainedExposureAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Transfer Of Financial Assets, Assets Sold With Retained Exposure [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_TransferOfFinancialAssetsAssetsSoldWithRetainedExposureAbstract" xlink:href="ms-20231231.xsd#ms_TransferOfFinancialAssetsAssetsSoldWithRetainedExposureAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_TransferOfFinancialAssetsAssetsSoldWithRetainedExposureAbstract" xlink:to="lab_ms_TransferOfFinancialAssetsAssetsSoldWithRetainedExposureAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_CashFDICInsuredAmount_fa44ec4b-493c-44d0-a42a-69c3c6b2d7f0_terseLabel_en-US" xlink:label="lab_us-gaap_CashFDICInsuredAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Deposits subject to FDIC insurance </link:label>
<link:label id="lab_us-gaap_CashFDICInsuredAmount_label_en-US" xlink:label="lab_us-gaap_CashFDICInsuredAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Cash, FDIC Insured Amount </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashFDICInsuredAmount" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CashFDICInsuredAmount"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashFDICInsuredAmount" xlink:to="lab_us-gaap_CashFDICInsuredAmount" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_CommitmentsAndContingenciesDisclosureAbstract_e1921229-5f13-44c2-9861-16957a8fcf91_terseLabel_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Commitments and Contingencies Disclosure [Abstract] </link:label>
<link:label id="lab_us-gaap_CommitmentsAndContingenciesDisclosureAbstract_label_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Commitments and Contingencies Disclosure [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CommitmentsAndContingenciesDisclosureAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:to="lab_us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_dei_EntityIncorporationStateCountryCode_d21293c7-2f2d-4ceb-8c12-cc2036bbd752_terseLabel_en-US" xlink:label="lab_dei_EntityIncorporationStateCountryCode" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Entity Incorporation, State or Country Code </link:label>
<link:label id="lab_dei_EntityIncorporationStateCountryCode_label_en-US" xlink:label="lab_dei_EntityIncorporationStateCountryCode" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Entity Incorporation, State or Country Code </link:label>
<link:loc xlink:type="locator" xlink:label="loc_dei_EntityIncorporationStateCountryCode" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityIncorporationStateCountryCode"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityIncorporationStateCountryCode" xlink:to="lab_dei_EntityIncorporationStateCountryCode" xlink:type="arc" order="1"/>
<link:label id="lab_ms_DefinedContributionPlanEligiblePayThreshold_f57d7bb2-902e-48b3-90c7-6b467d35d175_terseLabel_en-US" xlink:label="lab_ms_DefinedContributionPlanEligiblePayThreshold" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Eligible pay threshold </link:label>
<link:label id="lab_ms_DefinedContributionPlanEligiblePayThreshold_label_en-US" xlink:label="lab_ms_DefinedContributionPlanEligiblePayThreshold" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Defined Contribution Plan, Eligible Pay Threshold </link:label>
<link:label id="lab_ms_DefinedContributionPlanEligiblePayThreshold_documentation_en-US" xlink:label="lab_ms_DefinedContributionPlanEligiblePayThreshold" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Defined Contribution Plan, Eligible Pay Threshold </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_DefinedContributionPlanEligiblePayThreshold" xlink:href="ms-20231231.xsd#ms_DefinedContributionPlanEligiblePayThreshold"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_DefinedContributionPlanEligiblePayThreshold" xlink:to="lab_ms_DefinedContributionPlanEligiblePayThreshold" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DefinedBenefitPlanRecognizedNetGainLossDueToSettlementsAndCurtailments1_7a5a0abc-9fe9-4a87-bc79-7b3cd9fb4ce1_negatedLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanRecognizedNetGainLossDueToSettlementsAndCurtailments1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Plan settlements </link:label>
<link:label id="lab_us-gaap_DefinedBenefitPlanRecognizedNetGainLossDueToSettlementsAndCurtailments1_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanRecognizedNetGainLossDueToSettlementsAndCurtailments1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement and Curtailment </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanRecognizedNetGainLossDueToSettlementsAndCurtailments1" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DefinedBenefitPlanRecognizedNetGainLossDueToSettlementsAndCurtailments1"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanRecognizedNetGainLossDueToSettlementsAndCurtailments1" xlink:to="lab_us-gaap_DefinedBenefitPlanRecognizedNetGainLossDueToSettlementsAndCurtailments1" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_GoodwillAndIntangibleAssetsGoodwillPolicy_620736b3-9194-4b73-842b-d741be44914c_terseLabel_en-US" xlink:label="lab_us-gaap_GoodwillAndIntangibleAssetsGoodwillPolicy" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Goodwill and Intangible Assets </link:label>
<link:label id="lab_us-gaap_GoodwillAndIntangibleAssetsGoodwillPolicy_label_en-US" xlink:label="lab_us-gaap_GoodwillAndIntangibleAssetsGoodwillPolicy" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_GoodwillAndIntangibleAssetsGoodwillPolicy" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_GoodwillAndIntangibleAssetsGoodwillPolicy"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GoodwillAndIntangibleAssetsGoodwillPolicy" xlink:to="lab_us-gaap_GoodwillAndIntangibleAssetsGoodwillPolicy" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_NoninterestIncome_f7d245fc-0393-4df3-aeac-c3d4778a6815_totalLabel_en-US" xlink:label="lab_us-gaap_NoninterestIncome" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Total non-interest revenues </link:label>
<link:label id="lab_us-gaap_NoninterestIncome_label_en-US" xlink:label="lab_us-gaap_NoninterestIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Noninterest Income </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_NoninterestIncome" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_NoninterestIncome"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NoninterestIncome" xlink:to="lab_us-gaap_NoninterestIncome" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_f77685d3-d5d8-48d7-9a17-3ecf6a3d431b_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Deferred Tax Assets and Liabilities </link:label>
<link:label id="lab_us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Deferred Tax Assets and Liabilities [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock" xlink:to="lab_us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_ms_EffectiveIncomeTaxRateReconciliationEmployeeShareBasedAwardsPercent_e6651664-5372-416e-b91c-c0b7b212bcee_terseLabel_en-US" xlink:label="lab_ms_EffectiveIncomeTaxRateReconciliationEmployeeShareBasedAwardsPercent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Employee share-based awards </link:label>
<link:label id="lab_ms_EffectiveIncomeTaxRateReconciliationEmployeeShareBasedAwardsPercent_label_en-US" xlink:label="lab_ms_EffectiveIncomeTaxRateReconciliationEmployeeShareBasedAwardsPercent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Effective Income Tax Rate Reconciliation, Employee Share-based Awards, Percent </link:label>
<link:label id="lab_ms_EffectiveIncomeTaxRateReconciliationEmployeeShareBasedAwardsPercent_documentation_en-US" xlink:label="lab_ms_EffectiveIncomeTaxRateReconciliationEmployeeShareBasedAwardsPercent" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to employee share-based awards. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_EffectiveIncomeTaxRateReconciliationEmployeeShareBasedAwardsPercent" xlink:href="ms-20231231.xsd#ms_EffectiveIncomeTaxRateReconciliationEmployeeShareBasedAwardsPercent"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_EffectiveIncomeTaxRateReconciliationEmployeeShareBasedAwardsPercent" xlink:to="lab_ms_EffectiveIncomeTaxRateReconciliationEmployeeShareBasedAwardsPercent" xlink:type="arc" order="1"/>
<link:label id="lab_ms_ValuationTechniqueCorporateLoanModelMember_f6a21feb-348c-427a-82ed-01973c2feaf0_terseLabel_en-US" xlink:label="lab_ms_ValuationTechniqueCorporateLoanModelMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Corporate Loan Model </link:label>
<link:label id="lab_ms_ValuationTechniqueCorporateLoanModelMember_label_en-US" xlink:label="lab_ms_ValuationTechniqueCorporateLoanModelMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Valuation Technique, Corporate Loan Model [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_ValuationTechniqueCorporateLoanModelMember" xlink:href="ms-20231231.xsd#ms_ValuationTechniqueCorporateLoanModelMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_ValuationTechniqueCorporateLoanModelMember" xlink:to="lab_ms_ValuationTechniqueCorporateLoanModelMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DerivativesPolicyTextBlock_9acc4e20-c562-4d98-9154-157567c17640_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativesPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Hedge Accounting </link:label>
<link:label id="lab_us-gaap_DerivativesPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_DerivativesPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivatives, Policy [Policy Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativesPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DerivativesPolicyTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativesPolicyTextBlock" xlink:to="lab_us-gaap_DerivativesPolicyTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DefinedBenefitPlanSettlementsPlanAssets_5f32d0ce-fc4d-44fa-bc7b-9cfa934ff174_negatedLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanSettlementsPlanAssets" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Plan settlements </link:label>
<link:label id="lab_us-gaap_DefinedBenefitPlanSettlementsPlanAssets_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanSettlementsPlanAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Defined Benefit Plan, Plan Assets, Payment for Settlement </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanSettlementsPlanAssets" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DefinedBenefitPlanSettlementsPlanAssets"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanSettlementsPlanAssets" xlink:to="lab_us-gaap_DefinedBenefitPlanSettlementsPlanAssets" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_BankingRegulationCountercyclicalCapitalBuffer_1bd1ca09-902d-4c1f-8def-6ae9888c2ae6_terseLabel_en-US" xlink:label="lab_us-gaap_BankingRegulationCountercyclicalCapitalBuffer" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Standardized (as a percent) </link:label>
<link:label id="lab_us-gaap_BankingRegulationCountercyclicalCapitalBuffer_label_en-US" xlink:label="lab_us-gaap_BankingRegulationCountercyclicalCapitalBuffer" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Banking Regulation, Countercyclical Capital Buffer </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_BankingRegulationCountercyclicalCapitalBuffer" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_BankingRegulationCountercyclicalCapitalBuffer"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BankingRegulationCountercyclicalCapitalBuffer" xlink:to="lab_us-gaap_BankingRegulationCountercyclicalCapitalBuffer" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_OperatingLeasePayments_08e41d94-250e-4920-8491-97e26bbcaef0_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeasePayments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Cash outflows—Lease liabilities </link:label>
<link:label id="lab_us-gaap_OperatingLeasePayments_label_en-US" xlink:label="lab_us-gaap_OperatingLeasePayments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Operating Lease, Payments </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingLeasePayments" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OperatingLeasePayments"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingLeasePayments" xlink:to="lab_us-gaap_OperatingLeasePayments" xlink:type="arc" order="1"/>
<link:label id="lab_ms_SeriesJPreferredStockMember_79c3f086-92e9-46d9-ae75-76930fe3a0d9_terseLabel_en-US" xlink:label="lab_ms_SeriesJPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Series J </link:label>
<link:label id="lab_ms_SeriesJPreferredStockMember_label_en-US" xlink:label="lab_ms_SeriesJPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Series J Preferred Stock [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_SeriesJPreferredStockMember" xlink:href="ms-20231231.xsd#ms_SeriesJPreferredStockMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_SeriesJPreferredStockMember" xlink:to="lab_ms_SeriesJPreferredStockMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DefinedBenefitPlanInterestCost_2318f5de-adea-49d6-9a8c-cb6b1bb95dfd_verboseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanInterestCost" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Interest cost on projected benefit obligation </link:label>
<link:label id="lab_us-gaap_DefinedBenefitPlanInterestCost_e07aa67c-6f16-42fd-8d09-22fc4ecaa056_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanInterestCost" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Interest cost </link:label>
<link:label id="lab_us-gaap_DefinedBenefitPlanInterestCost_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanInterestCost" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Defined Benefit Plan, Interest Cost </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanInterestCost" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DefinedBenefitPlanInterestCost"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanInterestCost" xlink:to="lab_us-gaap_DefinedBenefitPlanInterestCost" xlink:type="arc" order="1"/>
<link:label id="lab_ms_LongTermDebtSwaptionEffectiveAverageInterestRate_7eb53daa-ea1a-405e-b56f-ee55ac05829e_terseLabel_en-US" xlink:label="lab_ms_LongTermDebtSwaptionEffectiveAverageInterestRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Weighted average coupon after swaps (as a percent) </link:label>
<link:label id="lab_ms_LongTermDebtSwaptionEffectiveAverageInterestRate_label_en-US" xlink:label="lab_ms_LongTermDebtSwaptionEffectiveAverageInterestRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Long-term Debt, Swaption, Effective Average Interest Rate </link:label>
<link:label id="lab_ms_LongTermDebtSwaptionEffectiveAverageInterestRate_documentation_en-US" xlink:label="lab_ms_LongTermDebtSwaptionEffectiveAverageInterestRate" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Effective weighted average interest rate for long-term debt entered in swaption contracts. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_LongTermDebtSwaptionEffectiveAverageInterestRate" xlink:href="ms-20231231.xsd#ms_LongTermDebtSwaptionEffectiveAverageInterestRate"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_LongTermDebtSwaptionEffectiveAverageInterestRate" xlink:to="lab_ms_LongTermDebtSwaptionEffectiveAverageInterestRate" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_EquitySecuritiesFvNiMeasurementInput_d60f2af4-d080-4ac6-83d0-b12d52e16a59_terseLabel_en-US" xlink:label="lab_us-gaap_EquitySecuritiesFvNiMeasurementInput" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Corporate equities, measurement input value </link:label>
<link:label id="lab_us-gaap_EquitySecuritiesFvNiMeasurementInput_label_en-US" xlink:label="lab_us-gaap_EquitySecuritiesFvNiMeasurementInput" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Equity Securities, FV-NI, Measurement Input </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_EquitySecuritiesFvNiMeasurementInput" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_EquitySecuritiesFvNiMeasurementInput"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquitySecuritiesFvNiMeasurementInput" xlink:to="lab_us-gaap_EquitySecuritiesFvNiMeasurementInput" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_StockholdersEquityOther_c8a964c7-ad47-4fc5-924c-b7d8aa8ff22b_negatedLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityOther" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other net increases (decreases) </link:label>
<link:label id="lab_us-gaap_StockholdersEquityOther_label_en-US" xlink:label="lab_us-gaap_StockholdersEquityOther" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Stockholders' Equity, Other </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquityOther" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_StockholdersEquityOther"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockholdersEquityOther" xlink:to="lab_us-gaap_StockholdersEquityOther" xlink:type="arc" order="1"/>
<link:label id="lab_dei_AuditorLocation_3b612323-218f-4d2c-affd-b08c9dbb514c_terseLabel_en-US" xlink:label="lab_dei_AuditorLocation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Auditor Location </link:label>
<link:label id="lab_dei_AuditorLocation_label_en-US" xlink:label="lab_dei_AuditorLocation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Auditor Location </link:label>
<link:loc xlink:type="locator" xlink:label="loc_dei_AuditorLocation" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_AuditorLocation"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_AuditorLocation" xlink:to="lab_dei_AuditorLocation" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DefinedBenefitPlanDisclosureLineItems_29967cc7-7012-4d90-996f-63d09c2b758b_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanDisclosureLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Pension and Other Postretirement Plans </link:label>
<link:label id="lab_us-gaap_DefinedBenefitPlanDisclosureLineItems_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanDisclosureLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Defined Benefit Plan Disclosure [Line Items] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanDisclosureLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DefinedBenefitPlanDisclosureLineItems"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanDisclosureLineItems" xlink:to="lab_us-gaap_DefinedBenefitPlanDisclosureLineItems" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_PensionAndOtherPostretirementBenefitsDisclosureTextBlock_22d30f32-2cf3-4290-8814-31fa002f001e_terseLabel_en-US" xlink:label="lab_us-gaap_PensionAndOtherPostretirementBenefitsDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Employee Benefit Plans </link:label>
<link:label id="lab_us-gaap_PensionAndOtherPostretirementBenefitsDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_PensionAndOtherPostretirementBenefitsDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Retirement Benefits [Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_PensionAndOtherPostretirementBenefitsDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PensionAndOtherPostretirementBenefitsDisclosureTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PensionAndOtherPostretirementBenefitsDisclosureTextBlock" xlink:to="lab_us-gaap_PensionAndOtherPostretirementBenefitsDisclosureTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ScheduleOfCommonStockOutstandingRollForwardTableTextBlock_5c71a6f1-b972-4d83-8cd9-2155fb751102_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfCommonStockOutstandingRollForwardTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Rollforward of Common Stock Outstanding </link:label>
<link:label id="lab_us-gaap_ScheduleOfCommonStockOutstandingRollForwardTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfCommonStockOutstandingRollForwardTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Common Stock Outstanding Roll Forward [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfCommonStockOutstandingRollForwardTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfCommonStockOutstandingRollForwardTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfCommonStockOutstandingRollForwardTableTextBlock" xlink:to="lab_us-gaap_ScheduleOfCommonStockOutstandingRollForwardTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_ms_DueFromEmployeesAllowance_cb199e93-433f-4c9c-9c55-09df54a82e14_negatedLabel_en-US" xlink:label="lab_ms_DueFromEmployeesAllowance" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> ACL </link:label>
<link:label id="lab_ms_DueFromEmployeesAllowance_label_en-US" xlink:label="lab_ms_DueFromEmployeesAllowance" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Due From Employees, Allowance </link:label>
<link:label id="lab_ms_DueFromEmployeesAllowance_documentation_en-US" xlink:label="lab_ms_DueFromEmployeesAllowance" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Due From Employees, Allowance </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_DueFromEmployeesAllowance" xlink:href="ms-20231231.xsd#ms_DueFromEmployeesAllowance"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_DueFromEmployeesAllowance" xlink:to="lab_ms_DueFromEmployeesAllowance" xlink:type="arc" order="1"/>
<link:label id="lab_ms_BankingRegulationStressCapitalBufferStandardized_bb8d527f-69f9-4fa2-85d8-99c0f56359eb_terseLabel_en-US" xlink:label="lab_ms_BankingRegulationStressCapitalBufferStandardized" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Standardized (as a percent) </link:label>
<link:label id="lab_ms_BankingRegulationStressCapitalBufferStandardized_label_en-US" xlink:label="lab_ms_BankingRegulationStressCapitalBufferStandardized" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Banking Regulation, Stress Capital Buffer, Standardized </link:label>
<link:label id="lab_ms_BankingRegulationStressCapitalBufferStandardized_documentation_en-US" xlink:label="lab_ms_BankingRegulationStressCapitalBufferStandardized" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Banking Regulation, Stress Capital Buffer, Standardized </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_BankingRegulationStressCapitalBufferStandardized" xlink:href="ms-20231231.xsd#ms_BankingRegulationStressCapitalBufferStandardized"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_BankingRegulationStressCapitalBufferStandardized" xlink:to="lab_ms_BankingRegulationStressCapitalBufferStandardized" xlink:type="arc" order="1"/>
<link:label id="lab_ms_DebtandEquityInterestsMember_489ceeb8-a54a-41e2-8fae-52d4f14fc927_terseLabel_en-US" xlink:label="lab_ms_DebtandEquityInterestsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt and equity interests </link:label>
<link:label id="lab_ms_DebtandEquityInterestsMember_label_en-US" xlink:label="lab_ms_DebtandEquityInterestsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt and Equity Interests [Member] </link:label>
<link:label id="lab_ms_DebtandEquityInterestsMember_documentation_en-US" xlink:label="lab_ms_DebtandEquityInterestsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt and Equity Interests [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_DebtandEquityInterestsMember" xlink:href="ms-20231231.xsd#ms_DebtandEquityInterestsMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_DebtandEquityInterestsMember" xlink:to="lab_ms_DebtandEquityInterestsMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DefinedContributionPlanDisclosureLineItems_25cd3c0a-4630-4009-b851-b4e06d72e093_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedContributionPlanDisclosureLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Defined Contribution Plans </link:label>
<link:label id="lab_us-gaap_DefinedContributionPlanDisclosureLineItems_label_en-US" xlink:label="lab_us-gaap_DefinedContributionPlanDisclosureLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Defined Contribution Plan Disclosure [Line Items] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedContributionPlanDisclosureLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DefinedContributionPlanDisclosureLineItems"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedContributionPlanDisclosureLineItems" xlink:to="lab_us-gaap_DefinedContributionPlanDisclosureLineItems" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ScheduleOfVariableInterestEntitiesTable_7902e0db-7429-4c69-8de1-36211f37e9d4_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfVariableInterestEntitiesTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Variable Interest Entities [Table] </link:label>
<link:label id="lab_us-gaap_ScheduleOfVariableInterestEntitiesTable_label_en-US" xlink:label="lab_us-gaap_ScheduleOfVariableInterestEntitiesTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Variable Interest Entities [Table] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfVariableInterestEntitiesTable" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfVariableInterestEntitiesTable"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfVariableInterestEntitiesTable" xlink:to="lab_us-gaap_ScheduleOfVariableInterestEntitiesTable" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities_fe2aafa7-f873-4da3-8e1f-1a05dd18d4e5_totalLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Net cash provided by (used for) investing activities </link:label>
<link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Net Cash Provided by (Used in) Investing Activities </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:to="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_EquitySecuritiesFvNi_6886a356-1130-4ed7-b388-001e6ea15ff3_terseLabel_en-US" xlink:label="lab_us-gaap_EquitySecuritiesFvNi" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Equity securities </link:label>
<link:label id="lab_us-gaap_EquitySecuritiesFvNi_2a07a81a-61a2-49c2-87ad-20ddfada6721_verboseLabel_en-US" xlink:label="lab_us-gaap_EquitySecuritiesFvNi" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Corporate equities </link:label>
<link:label id="lab_us-gaap_EquitySecuritiesFvNi_label_en-US" xlink:label="lab_us-gaap_EquitySecuritiesFvNi" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Equity Securities, FV-NI, Current </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_EquitySecuritiesFvNi" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_EquitySecuritiesFvNi"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquitySecuritiesFvNi" xlink:to="lab_us-gaap_EquitySecuritiesFvNi" xlink:type="arc" order="1"/>
<link:label id="lab_ms_DepositsWithAffiliates_aae368a2-5cdb-4b8f-a781-119f52c5696b_terseLabel_en-US" xlink:label="lab_ms_DepositsWithAffiliates" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Deposits with bank subsidiaries </link:label>
<link:label id="lab_ms_DepositsWithAffiliates_label_en-US" xlink:label="lab_ms_DepositsWithAffiliates" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Deposits with Affiliates </link:label>
<link:label id="lab_ms_DepositsWithAffiliates_documentation_en-US" xlink:label="lab_ms_DepositsWithAffiliates" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> The amount of deposits with banking subsidiaries. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_DepositsWithAffiliates" xlink:href="ms-20231231.xsd#ms_DepositsWithAffiliates"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_DepositsWithAffiliates" xlink:to="lab_ms_DepositsWithAffiliates" xlink:type="arc" order="1"/>
<link:label id="lab_ms_ForeignMoneyMarketFundsMember_9aff2f7b-38d9-4e90-86e7-54a50003e057_terseLabel_en-US" xlink:label="lab_ms_ForeignMoneyMarketFundsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Foreign Funds: Liquidity </link:label>
<link:label id="lab_ms_ForeignMoneyMarketFundsMember_label_en-US" xlink:label="lab_ms_ForeignMoneyMarketFundsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Foreign Money Market Funds [Member] </link:label>
<link:label id="lab_ms_ForeignMoneyMarketFundsMember_documentation_en-US" xlink:label="lab_ms_ForeignMoneyMarketFundsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fund that invests in short-term money-market instruments issued by foreign issuers, for example, but not limited to, commercial paper, banker's acceptances, repurchase agreements, government securities, certificates of deposit, and other highly liquid securities. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_ForeignMoneyMarketFundsMember" xlink:href="ms-20231231.xsd#ms_ForeignMoneyMarketFundsMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_ForeignMoneyMarketFundsMember" xlink:to="lab_ms_ForeignMoneyMarketFundsMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationBeforeTax_b4b39621-aa4c-4349-b9aa-d9d68abc09c1_terseLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationBeforeTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Less: Realized gains (losses) (pre-tax) reclassified from AOCI to interest income </link:label>
<link:label id="lab_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationBeforeTax_label_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationBeforeTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationBeforeTax" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationBeforeTax"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationBeforeTax" xlink:to="lab_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationBeforeTax" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ProfessionalFees_a520b596-3d0b-4c3c-85b7-6b8cb2191d51_terseLabel_en-US" xlink:label="lab_us-gaap_ProfessionalFees" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Professional services </link:label>
<link:label id="lab_us-gaap_ProfessionalFees_label_en-US" xlink:label="lab_us-gaap_ProfessionalFees" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Professional Fees </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProfessionalFees" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ProfessionalFees"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProfessionalFees" xlink:to="lab_us-gaap_ProfessionalFees" xlink:type="arc" order="1"/>
<link:label id="lab_ms_NoninterestExpenseExcludingLaborAndRelatedExpense_b2910a3f-11ac-4d36-bdc4-4e18c155c6ec_terseLabel_en-US" xlink:label="lab_ms_NoninterestExpenseExcludingLaborAndRelatedExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Non-compensation expenses </link:label>
<link:label id="lab_ms_NoninterestExpenseExcludingLaborAndRelatedExpense_label_en-US" xlink:label="lab_ms_NoninterestExpenseExcludingLaborAndRelatedExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Noninterest Expense excluding Labor and Related Expense </link:label>
<link:label id="lab_ms_NoninterestExpenseExcludingLaborAndRelatedExpense_documentation_en-US" xlink:label="lab_ms_NoninterestExpenseExcludingLaborAndRelatedExpense" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Noninterest Expense excluding Labor and Related Expense </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_NoninterestExpenseExcludingLaborAndRelatedExpense" xlink:href="ms-20231231.xsd#ms_NoninterestExpenseExcludingLaborAndRelatedExpense"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_NoninterestExpenseExcludingLaborAndRelatedExpense" xlink:to="lab_ms_NoninterestExpenseExcludingLaborAndRelatedExpense" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_IncreaseDecreaseInFinancialInstrumentsUsedInOperatingActivities_e832b929-bb96-4587-9803-101c6d867d85_negatedLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInFinancialInstrumentsUsedInOperatingActivities" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Trading assets, net of Trading liabilities </link:label>
<link:label id="lab_us-gaap_IncreaseDecreaseInFinancialInstrumentsUsedInOperatingActivities_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInFinancialInstrumentsUsedInOperatingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Increase (Decrease) in Financial Instruments Used in Operating Activities </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInFinancialInstrumentsUsedInOperatingActivities" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_IncreaseDecreaseInFinancialInstrumentsUsedInOperatingActivities"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInFinancialInstrumentsUsedInOperatingActivities" xlink:to="lab_us-gaap_IncreaseDecreaseInFinancialInstrumentsUsedInOperatingActivities" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_TierOneLeverageCapitalRequiredToBeWellCapitalizedToAverageAssets_7d601e49-bcc7-4b6d-a679-bad34fc96b66_terseLabel_en-US" xlink:label="lab_us-gaap_TierOneLeverageCapitalRequiredToBeWellCapitalizedToAverageAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Tier 1 leverage (as a percent) </link:label>
<link:label id="lab_us-gaap_TierOneLeverageCapitalRequiredToBeWellCapitalizedToAverageAssets_label_en-US" xlink:label="lab_us-gaap_TierOneLeverageCapitalRequiredToBeWellCapitalizedToAverageAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Banking Regulation, Tier 1 Leverage Capital Ratio, Well Capitalized, Minimum </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_TierOneLeverageCapitalRequiredToBeWellCapitalizedToAverageAssets" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_TierOneLeverageCapitalRequiredToBeWellCapitalizedToAverageAssets"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TierOneLeverageCapitalRequiredToBeWellCapitalizedToAverageAssets" xlink:to="lab_us-gaap_TierOneLeverageCapitalRequiredToBeWellCapitalizedToAverageAssets" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_MeasurementInputTypeDomain_a2e8cb80-1c9a-44d5-aabf-fe8d7c40d695_terseLabel_en-US" xlink:label="lab_us-gaap_MeasurementInputTypeDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Measurement Input Type [Domain] </link:label>
<link:label id="lab_us-gaap_MeasurementInputTypeDomain_label_en-US" xlink:label="lab_us-gaap_MeasurementInputTypeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Measurement Input Type [Domain] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_MeasurementInputTypeDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_MeasurementInputTypeDomain"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MeasurementInputTypeDomain" xlink:to="lab_us-gaap_MeasurementInputTypeDomain" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_SecuritiesFinancingTransactionTable_59d9d5a9-218f-4ca1-bdba-9a0b68a6bce1_terseLabel_en-US" xlink:label="lab_us-gaap_SecuritiesFinancingTransactionTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Securities Financing Transaction [Table] </link:label>
<link:label id="lab_us-gaap_SecuritiesFinancingTransactionTable_label_en-US" xlink:label="lab_us-gaap_SecuritiesFinancingTransactionTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Securities Financing Transaction [Table] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_SecuritiesFinancingTransactionTable" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SecuritiesFinancingTransactionTable"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SecuritiesFinancingTransactionTable" xlink:to="lab_us-gaap_SecuritiesFinancingTransactionTable" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock_93b6d82b-9edd-4341-8a3c-47533ecc51e8_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Maturities and Terms of Borrowings </link:label>
<link:label id="lab_us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Maturities of Long-Term Debt [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock" xlink:to="lab_us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_Liabilities_75816fe4-7029-479e-9e55-7ef1d02f183a_totalLabel_en-US" xlink:label="lab_us-gaap_Liabilities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Total liabilities </link:label>
<link:label id="lab_us-gaap_Liabilities_3f73a8d4-cfc8-47c6-b7ea-0b0b99b1ef2c_terseLabel_en-US" xlink:label="lab_us-gaap_Liabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Carrying value of variable interests—Liabilities </link:label>
<link:label id="lab_us-gaap_Liabilities_label_en-US" xlink:label="lab_us-gaap_Liabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Liabilities </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_Liabilities" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_Liabilities"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Liabilities" xlink:to="lab_us-gaap_Liabilities" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DebtSecuritiesAvailableForSaleUnrealizedLossPosition_01d64782-cb66-4412-a25d-970a328850f9_totalLabel_en-US" xlink:label="lab_us-gaap_DebtSecuritiesAvailableForSaleUnrealizedLossPosition" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> AFS: Fair Value, Total </link:label>
<link:label id="lab_us-gaap_DebtSecuritiesAvailableForSaleUnrealizedLossPosition_label_en-US" xlink:label="lab_us-gaap_DebtSecuritiesAvailableForSaleUnrealizedLossPosition" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt Securities, Available-for-Sale, Unrealized Loss Position </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtSecuritiesAvailableForSaleUnrealizedLossPosition" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DebtSecuritiesAvailableForSaleUnrealizedLossPosition"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtSecuritiesAvailableForSaleUnrealizedLossPosition" xlink:to="lab_us-gaap_DebtSecuritiesAvailableForSaleUnrealizedLossPosition" xlink:type="arc" order="1"/>
<link:label id="lab_country_BR_70dc2f58-bb9c-4589-ab6f-f9bba6e4eab7_terseLabel_en-US" xlink:label="lab_country_BR" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Brazil </link:label>
<link:label id="lab_country_BR_label_en-US" xlink:label="lab_country_BR" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> BRAZIL </link:label>
<link:loc xlink:type="locator" xlink:label="loc_country_BR" xlink:href="https://xbrl.sec.gov/country/2023/country-2023.xsd#country_BR"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_country_BR" xlink:to="lab_country_BR" xlink:type="arc" order="1"/>
<link:label id="lab_ms_MeasurementInputExitMultipleMember_6465adf7-834d-4987-9bd8-b252e8767719_terseLabel_en-US" xlink:label="lab_ms_MeasurementInputExitMultipleMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Exit Multiple </link:label>
<link:label id="lab_ms_MeasurementInputExitMultipleMember_label_en-US" xlink:label="lab_ms_MeasurementInputExitMultipleMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Measurement Input, Exit Multiple [Member] </link:label>
<link:label id="lab_ms_MeasurementInputExitMultipleMember_documentation_en-US" xlink:label="lab_ms_MeasurementInputExitMultipleMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Measurement input using the ratio of Enterprise Value to EBITDA, where Enterprise Value is the aggregate value of equity and debt minus cash and cash equivalents. The exit multiple reflects the value of the company in terms of its full-year expected EBITDA at exit. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_MeasurementInputExitMultipleMember" xlink:href="ms-20231231.xsd#ms_MeasurementInputExitMultipleMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_MeasurementInputExitMultipleMember" xlink:to="lab_ms_MeasurementInputExitMultipleMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FairValuesDerivativesBalanceSheetLocationByDerivativeContractTypeByHedgingDesignationTable_30ae65be-fd1d-4fd6-aff6-532bc189cf8e_terseLabel_en-US" xlink:label="lab_us-gaap_FairValuesDerivativesBalanceSheetLocationByDerivativeContractTypeByHedgingDesignationTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Values Derivatives, Balance Sheet Location, by Derivative Contract Type [Table] </link:label>
<link:label id="lab_us-gaap_FairValuesDerivativesBalanceSheetLocationByDerivativeContractTypeByHedgingDesignationTable_label_en-US" xlink:label="lab_us-gaap_FairValuesDerivativesBalanceSheetLocationByDerivativeContractTypeByHedgingDesignationTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Values Derivatives, Balance Sheet Location, by Derivative Contract Type [Table] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValuesDerivativesBalanceSheetLocationByDerivativeContractTypeByHedgingDesignationTable" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValuesDerivativesBalanceSheetLocationByDerivativeContractTypeByHedgingDesignationTable"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValuesDerivativesBalanceSheetLocationByDerivativeContractTypeByHedgingDesignationTable" xlink:to="lab_us-gaap_FairValuesDerivativesBalanceSheetLocationByDerivativeContractTypeByHedgingDesignationTable" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_OtherComprehensiveIncomeLossBeforeTax_4dcf5729-5184-401d-b75e-f78b0fd92f44_totalLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossBeforeTax" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Net OCI </link:label>
<link:label id="lab_us-gaap_OtherComprehensiveIncomeLossBeforeTax_label_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossBeforeTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other Comprehensive Income (Loss), before Tax </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossBeforeTax" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OtherComprehensiveIncomeLossBeforeTax"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherComprehensiveIncomeLossBeforeTax" xlink:to="lab_us-gaap_OtherComprehensiveIncomeLossBeforeTax" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months_45c15270-aca8-4a95-8bcd-a918cedcd043_terseLabel_en-US" xlink:label="lab_us-gaap_DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> AFS: Fair Value, Less than 12 Months </link:label>
<link:label id="lab_us-gaap_DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months_label_en-US" xlink:label="lab_us-gaap_DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Less than 12 Months </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months" xlink:to="lab_us-gaap_DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ScheduleOfDefinedBenefitPlanAmountsRecognizedInOtherComprehensiveIncomeLossTableTextBlock_6a1d346b-e7b0-4779-a38c-d18d5173edc5_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfDefinedBenefitPlanAmountsRecognizedInOtherComprehensiveIncomeLossTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Rollforward of Pre-tax AOCI </link:label>
<link:label id="lab_us-gaap_ScheduleOfDefinedBenefitPlanAmountsRecognizedInOtherComprehensiveIncomeLossTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfDefinedBenefitPlanAmountsRecognizedInOtherComprehensiveIncomeLossTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfDefinedBenefitPlanAmountsRecognizedInOtherComprehensiveIncomeLossTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfDefinedBenefitPlanAmountsRecognizedInOtherComprehensiveIncomeLossTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfDefinedBenefitPlanAmountsRecognizedInOtherComprehensiveIncomeLossTableTextBlock" xlink:to="lab_us-gaap_ScheduleOfDefinedBenefitPlanAmountsRecognizedInOtherComprehensiveIncomeLossTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FederalFundsSoldAndSecuritiesBorrowedOrPurchasedUnderAgreementsToResellFairValueDisclosure_1d940cb6-31b9-45ae-a386-9e73e3c4e7d0_terseLabel_en-US" xlink:label="lab_us-gaap_FederalFundsSoldAndSecuritiesBorrowedOrPurchasedUnderAgreementsToResellFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Securities purchased under agreements to resell </link:label>
<link:label id="lab_us-gaap_FederalFundsSoldAndSecuritiesBorrowedOrPurchasedUnderAgreementsToResellFairValueDisclosure_label_en-US" xlink:label="lab_us-gaap_FederalFundsSoldAndSecuritiesBorrowedOrPurchasedUnderAgreementsToResellFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Federal Funds Sold and Securities Borrowed or Purchased under Agreements to Resell, Fair Value Disclosure </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FederalFundsSoldAndSecuritiesBorrowedOrPurchasedUnderAgreementsToResellFairValueDisclosure" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FederalFundsSoldAndSecuritiesBorrowedOrPurchasedUnderAgreementsToResellFairValueDisclosure"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FederalFundsSoldAndSecuritiesBorrowedOrPurchasedUnderAgreementsToResellFairValueDisclosure" xlink:to="lab_us-gaap_FederalFundsSoldAndSecuritiesBorrowedOrPurchasedUnderAgreementsToResellFairValueDisclosure" xlink:type="arc" order="1"/>
<link:label id="lab_ms_SupplementalLeverageCapital_1ae569cb-0ebe-4013-9ea4-91a8248abfef_terseLabel_en-US" xlink:label="lab_ms_SupplementalLeverageCapital" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> SLR </link:label>
<link:label id="lab_ms_SupplementalLeverageCapital_label_en-US" xlink:label="lab_ms_SupplementalLeverageCapital" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Supplemental Leverage Capital </link:label>
<link:label id="lab_ms_SupplementalLeverageCapital_documentation_en-US" xlink:label="lab_ms_SupplementalLeverageCapital" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> The numerator of supplementary leverage ratio. It's a banking organization's tier 1 capital, which includes all on-balance-sheet assets. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_SupplementalLeverageCapital" xlink:href="ms-20231231.xsd#ms_SupplementalLeverageCapital"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_SupplementalLeverageCapital" xlink:to="lab_ms_SupplementalLeverageCapital" xlink:type="arc" order="1"/>
<link:label id="lab_ms_MultipleLoanModificationsExtendedMaturityMember_00726a68-45a5-468f-a12d-4b61829f891e_terseLabel_en-US" xlink:label="lab_ms_MultipleLoanModificationsExtendedMaturityMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Multiple Modification, Term Exension </link:label>
<link:label id="lab_ms_MultipleLoanModificationsExtendedMaturityMember_label_en-US" xlink:label="lab_ms_MultipleLoanModificationsExtendedMaturityMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Multiple Loan Modifications, Extended Maturity [Member] </link:label>
<link:label id="lab_ms_MultipleLoanModificationsExtendedMaturityMember_documentation_en-US" xlink:label="lab_ms_MultipleLoanModificationsExtendedMaturityMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Multiple Loan Modifications, Extended Maturity </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_MultipleLoanModificationsExtendedMaturityMember" xlink:href="ms-20231231.xsd#ms_MultipleLoanModificationsExtendedMaturityMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_MultipleLoanModificationsExtendedMaturityMember" xlink:to="lab_ms_MultipleLoanModificationsExtendedMaturityMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_DebttoValueRatioGreaterthan80PercentMember_0ab442ef-eb96-466a-8cd2-b2f66ba21351_terseLabel_en-US" xlink:label="lab_ms_DebttoValueRatioGreaterthan80PercentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Greater than 80% </link:label>
<link:label id="lab_ms_DebttoValueRatioGreaterthan80PercentMember_label_en-US" xlink:label="lab_ms_DebttoValueRatioGreaterthan80PercentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt-to-Value Ratio, Greater than 80 Percent [Member] </link:label>
<link:label id="lab_ms_DebttoValueRatioGreaterthan80PercentMember_documentation_en-US" xlink:label="lab_ms_DebttoValueRatioGreaterthan80PercentMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt-to-Value Ratio, Greater than 80 Percent [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_DebttoValueRatioGreaterthan80PercentMember" xlink:href="ms-20231231.xsd#ms_DebttoValueRatioGreaterthan80PercentMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_DebttoValueRatioGreaterthan80PercentMember" xlink:to="lab_ms_DebttoValueRatioGreaterthan80PercentMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_CurrentStateAndLocalTaxExpenseBenefit_dc8cfa35-da5e-4b90-9359-d4734454b7fc_terseLabel_en-US" xlink:label="lab_us-gaap_CurrentStateAndLocalTaxExpenseBenefit" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> U.S. state and local </link:label>
<link:label id="lab_us-gaap_CurrentStateAndLocalTaxExpenseBenefit_label_en-US" xlink:label="lab_us-gaap_CurrentStateAndLocalTaxExpenseBenefit" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Current State and Local Tax Expense (Benefit) </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CurrentStateAndLocalTaxExpenseBenefit" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CurrentStateAndLocalTaxExpenseBenefit"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CurrentStateAndLocalTaxExpenseBenefit" xlink:to="lab_us-gaap_CurrentStateAndLocalTaxExpenseBenefit" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_OtherComprehensiveIncomeLossBeforeTaxPeriodIncreaseDecreaseAbstract_9a941ca7-d839-4287-86ae-a94a1a709bef_terseLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossBeforeTaxPeriodIncreaseDecreaseAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Pre-tax Gain (Loss) </link:label>
<link:label id="lab_us-gaap_OtherComprehensiveIncomeLossBeforeTaxPeriodIncreaseDecreaseAbstract_label_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossBeforeTaxPeriodIncreaseDecreaseAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other Comprehensive Income (Loss), before Tax [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossBeforeTaxPeriodIncreaseDecreaseAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OtherComprehensiveIncomeLossBeforeTaxPeriodIncreaseDecreaseAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherComprehensiveIncomeLossBeforeTaxPeriodIncreaseDecreaseAbstract" xlink:to="lab_us-gaap_OtherComprehensiveIncomeLossBeforeTaxPeriodIncreaseDecreaseAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_ms_AvailableForSaleSecuritiesDebtMaturitiesNextTwelveMonthsAnnualizedAverageYield_f3e56775-c66a-4068-a6e7-72a103985629_terseLabel_en-US" xlink:label="lab_ms_AvailableForSaleSecuritiesDebtMaturitiesNextTwelveMonthsAnnualizedAverageYield" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> AFS securities: Annualized average yield, due within 1 year (as a percent) </link:label>
<link:label id="lab_ms_AvailableForSaleSecuritiesDebtMaturitiesNextTwelveMonthsAnnualizedAverageYield_label_en-US" xlink:label="lab_ms_AvailableForSaleSecuritiesDebtMaturitiesNextTwelveMonthsAnnualizedAverageYield" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Available-for-sale Securities, Debt Maturities, Next Twelve Months, Annualized Average Yield </link:label>
<link:label id="lab_ms_AvailableForSaleSecuritiesDebtMaturitiesNextTwelveMonthsAnnualizedAverageYield_documentation_en-US" xlink:label="lab_ms_AvailableForSaleSecuritiesDebtMaturitiesNextTwelveMonthsAnnualizedAverageYield" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Annualized average yield of available-for-sale debt securities maturing in the next fiscal year following the latest fiscal year. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_AvailableForSaleSecuritiesDebtMaturitiesNextTwelveMonthsAnnualizedAverageYield" xlink:href="ms-20231231.xsd#ms_AvailableForSaleSecuritiesDebtMaturitiesNextTwelveMonthsAnnualizedAverageYield"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_AvailableForSaleSecuritiesDebtMaturitiesNextTwelveMonthsAnnualizedAverageYield" xlink:to="lab_ms_AvailableForSaleSecuritiesDebtMaturitiesNextTwelveMonthsAnnualizedAverageYield" xlink:type="arc" order="1"/>
<link:label id="lab_ms_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAnnualizedAverageYield_613463b0-0703-4bff-acee-5887f789bda6_terseLabel_en-US" xlink:label="lab_ms_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAnnualizedAverageYield" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> AFS securities: Annualized average yield, after 10 years (as a percent) </link:label>
<link:label id="lab_ms_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAnnualizedAverageYield_label_en-US" xlink:label="lab_ms_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAnnualizedAverageYield" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Available-for-sale Securities, Debt Maturities, after Ten Years, Annualized Average Yield </link:label>
<link:label id="lab_ms_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAnnualizedAverageYield_documentation_en-US" xlink:label="lab_ms_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAnnualizedAverageYield" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Annualized average yield of available-for-sale debt securities maturing after the tenth fiscal year following the latest fiscal year. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAnnualizedAverageYield" xlink:href="ms-20231231.xsd#ms_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAnnualizedAverageYield"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAnnualizedAverageYield" xlink:to="lab_ms_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAnnualizedAverageYield" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember_e8211cc2-630f-44f2-9ad6-b69ae60708ff_terseLabel_en-US" xlink:label="lab_us-gaap_MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Agency CMBS </link:label>
<link:label id="lab_us-gaap_MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember_7a73e3e2-ac2b-4ccd-a129-220730f9c8fc_netLabel_en-US" xlink:label="lab_us-gaap_MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> U.S. agency collateralized mortgage obligations </link:label>
<link:label id="lab_us-gaap_MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember_label_en-US" xlink:label="lab_us-gaap_MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember" xlink:to="lab_us-gaap_MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_SchedulesOfConcentrationOfRiskByRiskFactorTextBlock_1d9a9bc4-21e7-47ee-8911-db9429c26c6f_terseLabel_en-US" xlink:label="lab_us-gaap_SchedulesOfConcentrationOfRiskByRiskFactorTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Concentration Based on the Firm's Total Assets </link:label>
<link:label id="lab_us-gaap_SchedulesOfConcentrationOfRiskByRiskFactorTextBlock_label_en-US" xlink:label="lab_us-gaap_SchedulesOfConcentrationOfRiskByRiskFactorTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedules of Concentration of Risk, by Risk Factor [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_SchedulesOfConcentrationOfRiskByRiskFactorTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SchedulesOfConcentrationOfRiskByRiskFactorTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SchedulesOfConcentrationOfRiskByRiskFactorTextBlock" xlink:to="lab_us-gaap_SchedulesOfConcentrationOfRiskByRiskFactorTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_ms_EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostWillBeRecognizedAbsentEstimatedOrActualForfeituresOrCancellationsInYearTwo_9ebf9629-e012-48bd-99a9-e9c89b5576e8_terseLabel_en-US" xlink:label="lab_ms_EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostWillBeRecognizedAbsentEstimatedOrActualForfeituresOrCancellationsInYearTwo" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> 2025 </link:label>
<link:label id="lab_ms_EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostWillBeRecognizedAbsentEstimatedOrActualForfeituresOrCancellationsInYearTwo_label_en-US" xlink:label="lab_ms_EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostWillBeRecognizedAbsentEstimatedOrActualForfeituresOrCancellationsInYearTwo" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Will Be Recognized Absent Estimated or Actual Forfeitures or Cancellations, in Year Two </link:label>
<link:label id="lab_ms_EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostWillBeRecognizedAbsentEstimatedOrActualForfeituresOrCancellationsInYearTwo_documentation_en-US" xlink:label="lab_ms_EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostWillBeRecognizedAbsentEstimatedOrActualForfeituresOrCancellationsInYearTwo" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> As of the balance sheet date, the aggregate unrecognized cost of equity-based awards made to employees under equity-based compensation awards that have yet to vest will be recognized absent estimated or actual forfeitures or cancellations in year two. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostWillBeRecognizedAbsentEstimatedOrActualForfeituresOrCancellationsInYearTwo" xlink:href="ms-20231231.xsd#ms_EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostWillBeRecognizedAbsentEstimatedOrActualForfeituresOrCancellationsInYearTwo"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostWillBeRecognizedAbsentEstimatedOrActualForfeituresOrCancellationsInYearTwo" xlink:to="lab_ms_EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostWillBeRecognizedAbsentEstimatedOrActualForfeituresOrCancellationsInYearTwo" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ConvertiblePreferredStockSubjectToMandatoryRedemptionMember_413c2d16-dbe1-4146-bcc1-7ea5fe01b1b1_terseLabel_en-US" xlink:label="lab_us-gaap_ConvertiblePreferredStockSubjectToMandatoryRedemptionMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Convertible Preferred Stock Subject to Mandatory Redemption </link:label>
<link:label id="lab_us-gaap_ConvertiblePreferredStockSubjectToMandatoryRedemptionMember_label_en-US" xlink:label="lab_us-gaap_ConvertiblePreferredStockSubjectToMandatoryRedemptionMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Convertible Preferred Stock Subject to Mandatory Redemption [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ConvertiblePreferredStockSubjectToMandatoryRedemptionMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ConvertiblePreferredStockSubjectToMandatoryRedemptionMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ConvertiblePreferredStockSubjectToMandatoryRedemptionMember" xlink:to="lab_us-gaap_ConvertiblePreferredStockSubjectToMandatoryRedemptionMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_SupplementalCashFlowInformationAbstract_8f919f3f-ca1a-47c8-913e-7bc689c3658d_terseLabel_en-US" xlink:label="lab_us-gaap_SupplementalCashFlowInformationAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Supplemental Disclosure of Cash Flow Information </link:label>
<link:label id="lab_us-gaap_SupplementalCashFlowInformationAbstract_label_en-US" xlink:label="lab_us-gaap_SupplementalCashFlowInformationAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Supplemental Cash Flow Information [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_SupplementalCashFlowInformationAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SupplementalCashFlowInformationAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SupplementalCashFlowInformationAbstract" xlink:to="lab_us-gaap_SupplementalCashFlowInformationAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FinancingReceivableCreditQualityIndicatorsTableTextBlock_61bd1331-cd17-4757-8d89-3c8b6e0180b2_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableCreditQualityIndicatorsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Loans Held for Investment </link:label>
<link:label id="lab_us-gaap_FinancingReceivableCreditQualityIndicatorsTableTextBlock_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableCreditQualityIndicatorsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financing Receivable Credit Quality Indicators [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableCreditQualityIndicatorsTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FinancingReceivableCreditQualityIndicatorsTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableCreditQualityIndicatorsTableTextBlock" xlink:to="lab_us-gaap_FinancingReceivableCreditQualityIndicatorsTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DefinedBenefitPlanPensionPlanWithProjectedBenefitObligationInExcessOfPlanAssetsPlanAssets_8ff40370-b99c-4bb8-9ce9-a900b90400b7_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanPensionPlanWithProjectedBenefitObligationInExcessOfPlanAssetsPlanAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair value of plan assets </link:label>
<link:label id="lab_us-gaap_DefinedBenefitPlanPensionPlanWithProjectedBenefitObligationInExcessOfPlanAssetsPlanAssets_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanPensionPlanWithProjectedBenefitObligationInExcessOfPlanAssetsPlanAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Defined Benefit Plan, Pension Plan with Projected Benefit Obligation in Excess of Plan Assets, Plan Assets </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanPensionPlanWithProjectedBenefitObligationInExcessOfPlanAssetsPlanAssets" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DefinedBenefitPlanPensionPlanWithProjectedBenefitObligationInExcessOfPlanAssetsPlanAssets"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanPensionPlanWithProjectedBenefitObligationInExcessOfPlanAssetsPlanAssets" xlink:to="lab_us-gaap_DefinedBenefitPlanPensionPlanWithProjectedBenefitObligationInExcessOfPlanAssetsPlanAssets" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff_6829534f-fdd2-4adb-8000-6bff9b8eb938_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Gross charge-offs </link:label>
<link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff" xlink:to="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_RetirementPlanNameDomain_1f0b33e3-620a-426b-a431-c6c123a0e5ed_terseLabel_en-US" xlink:label="lab_us-gaap_RetirementPlanNameDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Retirement Plan Name [Domain] </link:label>
<link:label id="lab_us-gaap_RetirementPlanNameDomain_label_en-US" xlink:label="lab_us-gaap_RetirementPlanNameDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Retirement Plan Name [Domain] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_RetirementPlanNameDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_RetirementPlanNameDomain"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RetirementPlanNameDomain" xlink:to="lab_us-gaap_RetirementPlanNameDomain" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_OtherLiabilities_1786cecd-26dc-4254-bc0a-4126efd20247_terseLabel_en-US" xlink:label="lab_us-gaap_OtherLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Payables to and advances from subsidiaries </link:label>
<link:label id="lab_us-gaap_OtherLiabilities_label_en-US" xlink:label="lab_us-gaap_OtherLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other Liabilities </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherLiabilities" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OtherLiabilities"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherLiabilities" xlink:to="lab_us-gaap_OtherLiabilities" xlink:type="arc" order="1"/>
<link:label id="lab_country_JP_72d951c7-7a2c-4cb1-8a97-b840093aca9f_terseLabel_en-US" xlink:label="lab_country_JP" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Japan </link:label>
<link:label id="lab_country_JP_label_en-US" xlink:label="lab_country_JP" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> JAPAN </link:label>
<link:loc xlink:type="locator" xlink:label="loc_country_JP" xlink:href="https://xbrl.sec.gov/country/2023/country-2023.xsd#country_JP"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_country_JP" xlink:to="lab_country_JP" xlink:type="arc" order="1"/>
<link:label id="lab_ms_MeasurementInputForwardPowerPriceMember_64ced661-b7c7-478c-b5a8-fcab4206dc52_terseLabel_en-US" xlink:label="lab_ms_MeasurementInputForwardPowerPriceMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Forward Power Price </link:label>
<link:label id="lab_ms_MeasurementInputForwardPowerPriceMember_label_en-US" xlink:label="lab_ms_MeasurementInputForwardPowerPriceMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Measurement Input, Forward Power Price [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_MeasurementInputForwardPowerPriceMember" xlink:href="ms-20231231.xsd#ms_MeasurementInputForwardPowerPriceMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_MeasurementInputForwardPowerPriceMember" xlink:to="lab_ms_MeasurementInputForwardPowerPriceMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_OtherComprehensiveIncomeLossDebtValuationAdjustmentNetOfTax_4d1ba90c-a4ba-4a46-aefd-e2fe73c56181_terseLabel_en-US" xlink:label="lab_ms_OtherComprehensiveIncomeLossDebtValuationAdjustmentNetOfTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Change in net debt valuation adjustment </link:label>
<link:label id="lab_ms_OtherComprehensiveIncomeLossDebtValuationAdjustmentNetOfTax_label_en-US" xlink:label="lab_ms_OtherComprehensiveIncomeLossDebtValuationAdjustmentNetOfTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other Comprehensive (Income) Loss, Debt Valuation Adjustment, Net of Tax </link:label>
<link:label id="lab_ms_OtherComprehensiveIncomeLossDebtValuationAdjustmentNetOfTax_documentation_en-US" xlink:label="lab_ms_OtherComprehensiveIncomeLossDebtValuationAdjustmentNetOfTax" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Amount after tax and reclassification adjustments, of debt valuation adjustment related to outstanding liabilities under the fair value option election. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_OtherComprehensiveIncomeLossDebtValuationAdjustmentNetOfTax" xlink:href="ms-20231231.xsd#ms_OtherComprehensiveIncomeLossDebtValuationAdjustmentNetOfTax"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_OtherComprehensiveIncomeLossDebtValuationAdjustmentNetOfTax" xlink:to="lab_ms_OtherComprehensiveIncomeLossDebtValuationAdjustmentNetOfTax" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_45d64d22-07b6-4b61-b0fe-40c464151219_periodStartLabel_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Beginning balance </link:label>
<link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_2d44b366-1480-41f4-ab46-980e2df43463_periodEndLabel_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Ending balance </link:label>
<link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_label_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue"/>
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<link:label id="lab_us-gaap_ProceedsFromIssuanceOfPreferredStockAndPreferenceStock_dd2fbd82-f455-4cc9-b11a-1ee7d927f0dc_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromIssuanceOfPreferredStockAndPreferenceStock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Issuance of preferred stock, net of issuance costs </link:label>
<link:label id="lab_us-gaap_ProceedsFromIssuanceOfPreferredStockAndPreferenceStock_label_en-US" xlink:label="lab_us-gaap_ProceedsFromIssuanceOfPreferredStockAndPreferenceStock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Proceeds from Issuance of Preferred Stock and Preference Stock </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromIssuanceOfPreferredStockAndPreferenceStock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ProceedsFromIssuanceOfPreferredStockAndPreferenceStock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromIssuanceOfPreferredStockAndPreferenceStock" xlink:to="lab_us-gaap_ProceedsFromIssuanceOfPreferredStockAndPreferenceStock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_32440ef3-f045-49fd-919f-6d351e34f61d_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Awarded (in dollars per share) </link:label>
<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_c48bf4de-1547-4045-8712-9141a793cbea_verboseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair value per PSU on award date (in dollars per share) </link:label>
<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ScheduleOfUnvestedRestrictedStockUnitsRollForwardTableTextBlock_09065cfa-5293-4709-863f-a26681b214b2_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfUnvestedRestrictedStockUnitsRollForwardTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Unvested RSU Activity </link:label>
<link:label id="lab_us-gaap_ScheduleOfUnvestedRestrictedStockUnitsRollForwardTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfUnvestedRestrictedStockUnitsRollForwardTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Unvested Restricted Stock Units Roll Forward [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfUnvestedRestrictedStockUnitsRollForwardTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfUnvestedRestrictedStockUnitsRollForwardTableTextBlock"/>
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<link:label id="lab_us-gaap_OtherSecuredFinancings_8cd3cd9e-0d41-437d-a94f-361173195299_terseLabel_en-US" xlink:label="lab_us-gaap_OtherSecuredFinancings" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other secured financings (includes $9,899 and $4,550 at fair value) </link:label>
<link:label id="lab_us-gaap_OtherSecuredFinancings_4b1a6455-a1aa-436a-b502-713ccca8a5de_verboseLabel_en-US" xlink:label="lab_us-gaap_OtherSecuredFinancings" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other secured financings </link:label>
<link:label id="lab_us-gaap_OtherSecuredFinancings_c417c5a9-cf52-4252-a848-a360faddf792_totalLabel_en-US" xlink:label="lab_us-gaap_OtherSecuredFinancings" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Total other secured financings </link:label>
<link:label id="lab_us-gaap_OtherSecuredFinancings_label_en-US" xlink:label="lab_us-gaap_OtherSecuredFinancings" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other Secured Financings </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherSecuredFinancings" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OtherSecuredFinancings"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherSecuredFinancings" xlink:to="lab_us-gaap_OtherSecuredFinancings" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock_1ea65de1-56a7-43f2-8318-30e97c620362_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Intangible Assets Estimated Future Amortization Expense </link:label>
<link:label id="lab_us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock" xlink:to="lab_us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_AccumulatedForeignCurrencyAdjustmentAttributableToNoncontrollingInterestMember_bec50d50-496b-4ee8-8885-22711fdb93c3_terseLabel_en-US" xlink:label="lab_us-gaap_AccumulatedForeignCurrencyAdjustmentAttributableToNoncontrollingInterestMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Foreign Currency Translation Adjustment Attributable to Noncontrolling Interest </link:label>
<link:label id="lab_us-gaap_AccumulatedForeignCurrencyAdjustmentAttributableToNoncontrollingInterestMember_label_en-US" xlink:label="lab_us-gaap_AccumulatedForeignCurrencyAdjustmentAttributableToNoncontrollingInterestMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Accumulated Foreign Currency Adjustment Attributable to Noncontrolling Interest [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccumulatedForeignCurrencyAdjustmentAttributableToNoncontrollingInterestMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AccumulatedForeignCurrencyAdjustmentAttributableToNoncontrollingInterestMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccumulatedForeignCurrencyAdjustmentAttributableToNoncontrollingInterestMember" xlink:to="lab_us-gaap_AccumulatedForeignCurrencyAdjustmentAttributableToNoncontrollingInterestMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DefinedBenefitPlanAmortizationOfPriorServiceCostCredit_14bebd47-f013-40a0-b3b5-71cf27b5540b_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanAmortizationOfPriorServiceCostCredit" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Net amortization of prior service cost </link:label>
<link:label id="lab_us-gaap_DefinedBenefitPlanAmortizationOfPriorServiceCostCredit_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanAmortizationOfPriorServiceCostCredit" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Defined Benefit Plan, Amortization of Prior Service Cost (Credit) </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanAmortizationOfPriorServiceCostCredit" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DefinedBenefitPlanAmortizationOfPriorServiceCostCredit"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanAmortizationOfPriorServiceCostCredit" xlink:to="lab_us-gaap_DefinedBenefitPlanAmortizationOfPriorServiceCostCredit" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FinancialInstrumentsOwnedPledgedStatusExtensibleEnumeration_315e6093-24a2-4bae-ba30-00b0f335945a_terseLabel_en-US" xlink:label="lab_us-gaap_FinancialInstrumentsOwnedPledgedStatusExtensibleEnumeration" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financial Instrument, Owned, Pledged Status [Extensible Enumeration] </link:label>
<link:label id="lab_us-gaap_FinancialInstrumentsOwnedPledgedStatusExtensibleEnumeration_label_en-US" xlink:label="lab_us-gaap_FinancialInstrumentsOwnedPledgedStatusExtensibleEnumeration" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financial Instrument, Owned, Pledged Status [Extensible Enumeration] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancialInstrumentsOwnedPledgedStatusExtensibleEnumeration" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FinancialInstrumentsOwnedPledgedStatusExtensibleEnumeration"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancialInstrumentsOwnedPledgedStatusExtensibleEnumeration" xlink:to="lab_us-gaap_FinancialInstrumentsOwnedPledgedStatusExtensibleEnumeration" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_HedgedAssetFairValueHedgeCumulativeIncreaseDecrease_859c765b-6560-4ce8-9818-460173df4218_terseLabel_en-US" xlink:label="lab_us-gaap_HedgedAssetFairValueHedgeCumulativeIncreaseDecrease" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Basis adjustments included in amortized cost/ carrying amount </link:label>
<link:label id="lab_us-gaap_HedgedAssetFairValueHedgeCumulativeIncreaseDecrease_label_en-US" xlink:label="lab_us-gaap_HedgedAssetFairValueHedgeCumulativeIncreaseDecrease" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Hedged Asset, Fair Value Hedge, Cumulative Increase (Decrease) </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_HedgedAssetFairValueHedgeCumulativeIncreaseDecrease" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_HedgedAssetFairValueHedgeCumulativeIncreaseDecrease"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_HedgedAssetFairValueHedgeCumulativeIncreaseDecrease" xlink:to="lab_us-gaap_HedgedAssetFairValueHedgeCumulativeIncreaseDecrease" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FurnitureAndFixturesMember_712b6ab0-3a54-4135-8151-ea809156ab76_terseLabel_en-US" xlink:label="lab_us-gaap_FurnitureAndFixturesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Furniture and fixtures </link:label>
<link:label id="lab_us-gaap_FurnitureAndFixturesMember_label_en-US" xlink:label="lab_us-gaap_FurnitureAndFixturesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Furniture and Fixtures [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FurnitureAndFixturesMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FurnitureAndFixturesMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FurnitureAndFixturesMember" xlink:to="lab_us-gaap_FurnitureAndFixturesMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_BankingRegulationCapitalBufferRequirement_eafdcdc2-0f6f-4150-aa4b-ad5bafd1a39b_terseLabel_en-US" xlink:label="lab_ms_BankingRegulationCapitalBufferRequirement" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Standardized (as a percent) </link:label>
<link:label id="lab_ms_BankingRegulationCapitalBufferRequirement_label_en-US" xlink:label="lab_ms_BankingRegulationCapitalBufferRequirement" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Banking Regulation, Capital Buffer Requirement </link:label>
<link:label id="lab_ms_BankingRegulationCapitalBufferRequirement_documentation_en-US" xlink:label="lab_ms_BankingRegulationCapitalBufferRequirement" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Banking Regulation, Capital Buffer Requirement </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_BankingRegulationCapitalBufferRequirement" xlink:href="ms-20231231.xsd#ms_BankingRegulationCapitalBufferRequirement"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_BankingRegulationCapitalBufferRequirement" xlink:to="lab_ms_BankingRegulationCapitalBufferRequirement" xlink:type="arc" order="1"/>
<link:label id="lab_ms_LongTermDebtWeightedAverageCouponRate_5a5267ab-02ca-4753-a365-ef2a1957902e_verboseLabel_en-US" xlink:label="lab_ms_LongTermDebtWeightedAverageCouponRate" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Weighted average coupon at period end (as a percent) </link:label>
<link:label id="lab_ms_LongTermDebtWeightedAverageCouponRate_1e77cd6e-758c-4657-a848-c13a3ca0619d_terseLabel_en-US" xlink:label="lab_ms_LongTermDebtWeightedAverageCouponRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Contractual weighted average coupon (as a percent) </link:label>
<link:label id="lab_ms_LongTermDebtWeightedAverageCouponRate_label_en-US" xlink:label="lab_ms_LongTermDebtWeightedAverageCouponRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Long-term Debt, Weighted Average Coupon Rate </link:label>
<link:label id="lab_ms_LongTermDebtWeightedAverageCouponRate_documentation_en-US" xlink:label="lab_ms_LongTermDebtWeightedAverageCouponRate" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Weighted average coupon rate of long-term debt outstanding. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_LongTermDebtWeightedAverageCouponRate" xlink:href="ms-20231231.xsd#ms_LongTermDebtWeightedAverageCouponRate"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_LongTermDebtWeightedAverageCouponRate" xlink:to="lab_ms_LongTermDebtWeightedAverageCouponRate" xlink:type="arc" order="1"/>
<link:label id="lab_srt_ConsolidationItemsAxis_1fc54836-e0ed-4ea7-82c1-f4d2df6e5902_terseLabel_en-US" xlink:label="lab_srt_ConsolidationItemsAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Consolidation Items [Axis] </link:label>
<link:label id="lab_srt_ConsolidationItemsAxis_label_en-US" xlink:label="lab_srt_ConsolidationItemsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Consolidation Items [Axis] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_srt_ConsolidationItemsAxis" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_ConsolidationItemsAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_ConsolidationItemsAxis" xlink:to="lab_srt_ConsolidationItemsAxis" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_SecuritiesPurchasedUnderAgreementsToResell_97d89e4d-a69b-40c2-98b3-c521ca10376b_terseLabel_en-US" xlink:label="lab_us-gaap_SecuritiesPurchasedUnderAgreementsToResell" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Securities purchased under agreements to resell (includes $7 and $8 at fair value) </link:label>
<link:label id="lab_us-gaap_SecuritiesPurchasedUnderAgreementsToResell_0a19c9c9-28d2-4e49-8514-048d45b545f2_totalLabel_en-US" xlink:label="lab_us-gaap_SecuritiesPurchasedUnderAgreementsToResell" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Balance Sheet Net Amounts </link:label>
<link:label id="lab_us-gaap_SecuritiesPurchasedUnderAgreementsToResell_9c9cdd62-6f87-4924-8b6b-2ef550b0241d_verboseLabel_en-US" xlink:label="lab_us-gaap_SecuritiesPurchasedUnderAgreementsToResell" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Securities purchased under agreements to resell </link:label>
<link:label id="lab_us-gaap_SecuritiesPurchasedUnderAgreementsToResell_label_en-US" xlink:label="lab_us-gaap_SecuritiesPurchasedUnderAgreementsToResell" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Securities Purchased under Agreements to Resell </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_SecuritiesPurchasedUnderAgreementsToResell" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SecuritiesPurchasedUnderAgreementsToResell"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SecuritiesPurchasedUnderAgreementsToResell" xlink:to="lab_us-gaap_SecuritiesPurchasedUnderAgreementsToResell" xlink:type="arc" order="1"/>
<link:label id="lab_ms_CreditDerivativesByMaturityDomain_bb8beb73-6a08-4e9d-ad3a-1ff64153b61e_terseLabel_en-US" xlink:label="lab_ms_CreditDerivativesByMaturityDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Credit Derivatives by Maturity [Domain] </link:label>
<link:label id="lab_ms_CreditDerivativesByMaturityDomain_label_en-US" xlink:label="lab_ms_CreditDerivativesByMaturityDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Credit Derivatives by Maturity [Domain] </link:label>
<link:label id="lab_ms_CreditDerivativesByMaturityDomain_documentation_en-US" xlink:label="lab_ms_CreditDerivativesByMaturityDomain" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Credit Derivatives by Maturity [Domain] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_CreditDerivativesByMaturityDomain" xlink:href="ms-20231231.xsd#ms_CreditDerivativesByMaturityDomain"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_CreditDerivativesByMaturityDomain" xlink:to="lab_ms_CreditDerivativesByMaturityDomain" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_aa154938-752b-4fb3-b487-9acddbe025bd_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Share-based Compensation Arrangements by Share-based Payment Award [Table] </link:label>
<link:label id="lab_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_label_en-US" xlink:label="lab_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Share-Based Compensation Arrangements by Share-Based Payment Award [Table] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:to="lab_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:type="arc" order="1"/>
<link:label id="lab_country_HK_aeae39e7-5b85-4798-84ef-5b5ed03f5f59_terseLabel_en-US" xlink:label="lab_country_HK" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Hong Kong </link:label>
<link:label id="lab_country_HK_label_en-US" xlink:label="lab_country_HK" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> HONG KONG </link:label>
<link:loc xlink:type="locator" xlink:label="loc_country_HK" xlink:href="https://xbrl.sec.gov/country/2023/country-2023.xsd#country_HK"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_country_HK" xlink:to="lab_country_HK" xlink:type="arc" order="1"/>
<link:label id="lab_ms_AvailableForSaleSecuritiesDebtMaturitiesAnnualizedAverageYield_e4faa9fd-7eb5-4177-b673-ce498c8ebda9_terseLabel_en-US" xlink:label="lab_ms_AvailableForSaleSecuritiesDebtMaturitiesAnnualizedAverageYield" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> AFS securities: Annualized average yield, total (as a percent) </link:label>
<link:label id="lab_ms_AvailableForSaleSecuritiesDebtMaturitiesAnnualizedAverageYield_label_en-US" xlink:label="lab_ms_AvailableForSaleSecuritiesDebtMaturitiesAnnualizedAverageYield" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Available-for-sale Securities, Debt Maturities, Annualized Average Yield </link:label>
<link:label id="lab_ms_AvailableForSaleSecuritiesDebtMaturitiesAnnualizedAverageYield_documentation_en-US" xlink:label="lab_ms_AvailableForSaleSecuritiesDebtMaturitiesAnnualizedAverageYield" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Annualized average yield of debt securities categorized neither as held-to-maturity nor trading. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_AvailableForSaleSecuritiesDebtMaturitiesAnnualizedAverageYield" xlink:href="ms-20231231.xsd#ms_AvailableForSaleSecuritiesDebtMaturitiesAnnualizedAverageYield"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_AvailableForSaleSecuritiesDebtMaturitiesAnnualizedAverageYield" xlink:to="lab_ms_AvailableForSaleSecuritiesDebtMaturitiesAnnualizedAverageYield" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_RestrictedCashAndCashEquivalents_8ddcacb4-c759-4f7a-a2c5-8ede6ebd9b29_terseLabel_en-US" xlink:label="lab_us-gaap_RestrictedCashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Restricted cash </link:label>
<link:label id="lab_us-gaap_RestrictedCashAndCashEquivalents_label_en-US" xlink:label="lab_us-gaap_RestrictedCashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Restricted Cash and Cash Equivalents </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_RestrictedCashAndCashEquivalents" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_RestrictedCashAndCashEquivalents"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RestrictedCashAndCashEquivalents" xlink:to="lab_us-gaap_RestrictedCashAndCashEquivalents" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_AccumulatedNetInvestmentGainLossIncludingPortionAttributableToNoncontrollingInterestMember_cdf9baed-9a7a-4a95-8b94-087206988968_terseLabel_en-US" xlink:label="lab_us-gaap_AccumulatedNetInvestmentGainLossIncludingPortionAttributableToNoncontrollingInterestMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Change in Net Unrealized Gains (Losses) on AFS Securities Including Noncontrolling Interest </link:label>
<link:label id="lab_us-gaap_AccumulatedNetInvestmentGainLossIncludingPortionAttributableToNoncontrollingInterestMember_label_en-US" xlink:label="lab_us-gaap_AccumulatedNetInvestmentGainLossIncludingPortionAttributableToNoncontrollingInterestMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-Sale, Including Noncontrolling Interest [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccumulatedNetInvestmentGainLossIncludingPortionAttributableToNoncontrollingInterestMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AccumulatedNetInvestmentGainLossIncludingPortionAttributableToNoncontrollingInterestMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccumulatedNetInvestmentGainLossIncludingPortionAttributableToNoncontrollingInterestMember" xlink:to="lab_us-gaap_AccumulatedNetInvestmentGainLossIncludingPortionAttributableToNoncontrollingInterestMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax_fe6cab25-c7f1-43f7-a2b3-3ce25ed2e9de_terseLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Foreign currency translation adjustments </link:label>
<link:label id="lab_us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax_label_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax" xlink:to="lab_us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FinancingReceivablePortfolioSegmentAxis_a4d2a4e6-a186-436c-be68-15bc1c0d249e_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivablePortfolioSegmentAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financing Receivable Portfolio Segment [Axis] </link:label>
<link:label id="lab_us-gaap_FinancingReceivablePortfolioSegmentAxis_label_en-US" xlink:label="lab_us-gaap_FinancingReceivablePortfolioSegmentAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financing Receivable Portfolio Segment [Axis] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivablePortfolioSegmentAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FinancingReceivablePortfolioSegmentAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivablePortfolioSegmentAxis" xlink:to="lab_us-gaap_FinancingReceivablePortfolioSegmentAxis" xlink:type="arc" order="1"/>
<link:label id="lab_ms_EmploymentStatusDomain_124d043d-1a34-49cf-888c-8cbfc7b3e0fa_terseLabel_en-US" xlink:label="lab_ms_EmploymentStatusDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Employment Status [Domain] </link:label>
<link:label id="lab_ms_EmploymentStatusDomain_label_en-US" xlink:label="lab_ms_EmploymentStatusDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Employment Status [Domain] </link:label>
<link:label id="lab_ms_EmploymentStatusDomain_documentation_en-US" xlink:label="lab_ms_EmploymentStatusDomain" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> [Domain] for Employment Status [Axis] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_EmploymentStatusDomain" xlink:href="ms-20231231.xsd#ms_EmploymentStatusDomain"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_EmploymentStatusDomain" xlink:to="lab_ms_EmploymentStatusDomain" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ChangesInProjectedBenefitObligationsFairValueOfPlanAssetsAndFundedStatusOfPlanTableTextBlock_ac044b93-82a1-4f84-af42-c6fa2f384b47_terseLabel_en-US" xlink:label="lab_us-gaap_ChangesInProjectedBenefitObligationsFairValueOfPlanAssetsAndFundedStatusOfPlanTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Rollforward of the Benefit Obligation and Fair Value of Plan Assets </link:label>
<link:label id="lab_us-gaap_ChangesInProjectedBenefitObligationsFairValueOfPlanAssetsAndFundedStatusOfPlanTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ChangesInProjectedBenefitObligationsFairValueOfPlanAssetsAndFundedStatusOfPlanTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Changes in Projected Benefit Obligations, Fair Value of Plan Assets, and Funded Status of Plan [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ChangesInProjectedBenefitObligationsFairValueOfPlanAssetsAndFundedStatusOfPlanTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ChangesInProjectedBenefitObligationsFairValueOfPlanAssetsAndFundedStatusOfPlanTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ChangesInProjectedBenefitObligationsFairValueOfPlanAssetsAndFundedStatusOfPlanTableTextBlock" xlink:to="lab_us-gaap_ChangesInProjectedBenefitObligationsFairValueOfPlanAssetsAndFundedStatusOfPlanTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_srt_ScheduleOfCondensedCashFlowStatementTableTextBlock_0e11fe92-9955-4810-968a-040e2c96479b_terseLabel_en-US" xlink:label="lab_srt_ScheduleOfCondensedCashFlowStatementTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Condensed Cash Flow Statements </link:label>
<link:label id="lab_srt_ScheduleOfCondensedCashFlowStatementTableTextBlock_label_en-US" xlink:label="lab_srt_ScheduleOfCondensedCashFlowStatementTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Condensed Cash Flow Statement [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_srt_ScheduleOfCondensedCashFlowStatementTableTextBlock" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_ScheduleOfCondensedCashFlowStatementTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_ScheduleOfCondensedCashFlowStatementTableTextBlock" xlink:to="lab_srt_ScheduleOfCondensedCashFlowStatementTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_InvestmentAdviceMember_c3bcba27-bae5-4c3d-bf54-30d5005ed915_terseLabel_en-US" xlink:label="lab_us-gaap_InvestmentAdviceMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Institutional Securities—Advisory </link:label>
<link:label id="lab_us-gaap_InvestmentAdviceMember_label_en-US" xlink:label="lab_us-gaap_InvestmentAdviceMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Investment Advice [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_InvestmentAdviceMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_InvestmentAdviceMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InvestmentAdviceMember" xlink:to="lab_us-gaap_InvestmentAdviceMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_SecuritiesPurchasedUnderAgreementsToResellNotSubjectToMasterNettingArrangement_027e6d92-65e4-4f7b-8f31-20f9074132c5_terseLabel_en-US" xlink:label="lab_us-gaap_SecuritiesPurchasedUnderAgreementsToResellNotSubjectToMasterNettingArrangement" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Securities purchased under agreements to resell </link:label>
<link:label id="lab_us-gaap_SecuritiesPurchasedUnderAgreementsToResellNotSubjectToMasterNettingArrangement_label_en-US" xlink:label="lab_us-gaap_SecuritiesPurchasedUnderAgreementsToResellNotSubjectToMasterNettingArrangement" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Securities Purchased under Agreements to Resell, Not Subject to Master Netting Arrangement </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_SecuritiesPurchasedUnderAgreementsToResellNotSubjectToMasterNettingArrangement" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SecuritiesPurchasedUnderAgreementsToResellNotSubjectToMasterNettingArrangement"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SecuritiesPurchasedUnderAgreementsToResellNotSubjectToMasterNettingArrangement" xlink:to="lab_us-gaap_SecuritiesPurchasedUnderAgreementsToResellNotSubjectToMasterNettingArrangement" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_PropertyPlantAndEquipmentByTypeAxis_966d802f-0494-4902-9cf8-18e8cbe44036_terseLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Property, Plant and Equipment, Type [Axis] </link:label>
<link:label id="lab_us-gaap_PropertyPlantAndEquipmentByTypeAxis_label_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Long-Lived Tangible Asset [Axis] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PropertyPlantAndEquipmentByTypeAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:to="lab_us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_PreferredStockSharesIssued_005249c4-a472-408e-8aa1-093129a5a013_verboseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockSharesIssued" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Shares issued (in shares) </link:label>
<link:label id="lab_us-gaap_PreferredStockSharesIssued_label_en-US" xlink:label="lab_us-gaap_PreferredStockSharesIssued" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Preferred Stock, Shares Issued </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_PreferredStockSharesIssued" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PreferredStockSharesIssued"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PreferredStockSharesIssued" xlink:to="lab_us-gaap_PreferredStockSharesIssued" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_TradingRevenueMember_3dd9bc7f-430e-4579-a1a2-93cbfdb3497f_terseLabel_en-US" xlink:label="lab_us-gaap_TradingRevenueMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Trading revenues </link:label>
<link:label id="lab_us-gaap_TradingRevenueMember_label_en-US" xlink:label="lab_us-gaap_TradingRevenueMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Trading Revenue [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_TradingRevenueMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_TradingRevenueMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TradingRevenueMember" xlink:to="lab_us-gaap_TradingRevenueMember" xlink:type="arc" order="1"/>
<link:label id="lab_dei_EntityEmergingGrowthCompany_492743f7-2dfa-49cf-9a5b-3a5dd7f71c7a_terseLabel_en-US" xlink:label="lab_dei_EntityEmergingGrowthCompany" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Entity Emerging Growth Company </link:label>
<link:label id="lab_dei_EntityEmergingGrowthCompany_label_en-US" xlink:label="lab_dei_EntityEmergingGrowthCompany" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Entity Emerging Growth Company </link:label>
<link:loc xlink:type="locator" xlink:label="loc_dei_EntityEmergingGrowthCompany" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityEmergingGrowthCompany"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityEmergingGrowthCompany" xlink:to="lab_dei_EntityEmergingGrowthCompany" xlink:type="arc" order="1"/>
<link:label id="lab_country_GB_44ce915a-e4f6-4c8a-a15f-3d976c3c9b35_terseLabel_en-US" xlink:label="lab_country_GB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> U.K. </link:label>
<link:label id="lab_country_GB_label_en-US" xlink:label="lab_country_GB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> UNITED KINGDOM </link:label>
<link:loc xlink:type="locator" xlink:label="loc_country_GB" xlink:href="https://xbrl.sec.gov/country/2023/country-2023.xsd#country_GB"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_country_GB" xlink:to="lab_country_GB" xlink:type="arc" order="1"/>
<link:label id="lab_ms_CondensedIncomeStatementAndComprehensiveIncomeStatementsTableTextBlock_6b1f70c2-7392-44db-a1d0-2f94cc9c0bb0_terseLabel_en-US" xlink:label="lab_ms_CondensedIncomeStatementAndComprehensiveIncomeStatementsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Condensed Income Statements and Comprehensive Income Statements </link:label>
<link:label id="lab_ms_CondensedIncomeStatementAndComprehensiveIncomeStatementsTableTextBlock_label_en-US" xlink:label="lab_ms_CondensedIncomeStatementAndComprehensiveIncomeStatementsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Condensed Income Statement and Comprehensive Income Statements [Table Text Block] </link:label>
<link:label id="lab_ms_CondensedIncomeStatementAndComprehensiveIncomeStatementsTableTextBlock_documentation_en-US" xlink:label="lab_ms_CondensedIncomeStatementAndComprehensiveIncomeStatementsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Tabular disclosure of condensed income statement and condensed statement of comprehensive income (loss). </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_CondensedIncomeStatementAndComprehensiveIncomeStatementsTableTextBlock" xlink:href="ms-20231231.xsd#ms_CondensedIncomeStatementAndComprehensiveIncomeStatementsTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_CondensedIncomeStatementAndComprehensiveIncomeStatementsTableTextBlock" xlink:to="lab_ms_CondensedIncomeStatementAndComprehensiveIncomeStatementsTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_ms_InterestIncomeCashAndCashEquivalents_42d3b0ba-c75b-4b44-92f2-b35372a673a3_terseLabel_en-US" xlink:label="lab_ms_InterestIncomeCashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Cash and cash equivalents </link:label>
<link:label id="lab_ms_InterestIncomeCashAndCashEquivalents_label_en-US" xlink:label="lab_ms_InterestIncomeCashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Interest Income, Cash and Cash Equivalents </link:label>
<link:label id="lab_ms_InterestIncomeCashAndCashEquivalents_documentation_en-US" xlink:label="lab_ms_InterestIncomeCashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Interest Income, Cash and Cash Equivalents </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_InterestIncomeCashAndCashEquivalents" xlink:href="ms-20231231.xsd#ms_InterestIncomeCashAndCashEquivalents"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_InterestIncomeCashAndCashEquivalents" xlink:to="lab_ms_InterestIncomeCashAndCashEquivalents" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_AociDerivativeQualifyingAsHedgeExcludedComponentNoncontrollingInterestMember_99accdf2-4194-4b7c-855f-4da6ca9e35b8_terseLabel_en-US" xlink:label="lab_us-gaap_AociDerivativeQualifyingAsHedgeExcludedComponentNoncontrollingInterestMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Change in Cash Flow Hedges Attributable To Noncontrolling Interest </link:label>
<link:label id="lab_us-gaap_AociDerivativeQualifyingAsHedgeExcludedComponentNoncontrollingInterestMember_label_en-US" xlink:label="lab_us-gaap_AociDerivativeQualifyingAsHedgeExcludedComponentNoncontrollingInterestMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> AOCI, Derivative Qualifying as Hedge, Excluded Component, Noncontrolling Interest [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AociDerivativeQualifyingAsHedgeExcludedComponentNoncontrollingInterestMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AociDerivativeQualifyingAsHedgeExcludedComponentNoncontrollingInterestMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AociDerivativeQualifyingAsHedgeExcludedComponentNoncontrollingInterestMember" xlink:to="lab_us-gaap_AociDerivativeQualifyingAsHedgeExcludedComponentNoncontrollingInterestMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_LeasesWeightedAverageInformationAbstract_ca37a991-765a-4461-b7aa-bab9cf8e3271_terseLabel_en-US" xlink:label="lab_ms_LeasesWeightedAverageInformationAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Weighted average: </link:label>
<link:label id="lab_ms_LeasesWeightedAverageInformationAbstract_label_en-US" xlink:label="lab_ms_LeasesWeightedAverageInformationAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Leases, Weighted Average Information [Abstract] </link:label>
<link:label id="lab_ms_LeasesWeightedAverageInformationAbstract_documentation_en-US" xlink:label="lab_ms_LeasesWeightedAverageInformationAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Leases, Weighted Average Information [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_LeasesWeightedAverageInformationAbstract" xlink:href="ms-20231231.xsd#ms_LeasesWeightedAverageInformationAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_LeasesWeightedAverageInformationAbstract" xlink:to="lab_ms_LeasesWeightedAverageInformationAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_ms_ScheduleOfFiniteLivedIntangibleAssetsNetTableTextBlock_e02f14dd-2b7f-4fff-b52b-ac9305a72aac_terseLabel_en-US" xlink:label="lab_ms_ScheduleOfFiniteLivedIntangibleAssetsNetTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Net Amortizable Intangible Assets Rollforward </link:label>
<link:label id="lab_ms_ScheduleOfFiniteLivedIntangibleAssetsNetTableTextBlock_label_en-US" xlink:label="lab_ms_ScheduleOfFiniteLivedIntangibleAssetsNetTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Finite-lived Intangible Assets, Net [Table Text Block] </link:label>
<link:label id="lab_ms_ScheduleOfFiniteLivedIntangibleAssetsNetTableTextBlock_documentation_en-US" xlink:label="lab_ms_ScheduleOfFiniteLivedIntangibleAssetsNetTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite life, bnet of accumulated amortization and impairment charges. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_ScheduleOfFiniteLivedIntangibleAssetsNetTableTextBlock" xlink:href="ms-20231231.xsd#ms_ScheduleOfFiniteLivedIntangibleAssetsNetTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_ScheduleOfFiniteLivedIntangibleAssetsNetTableTextBlock" xlink:to="lab_ms_ScheduleOfFiniteLivedIntangibleAssetsNetTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_AssetsSoldUnderAgreementsToRepurchaseMaturityPeriodDomain_e6bf3ba3-dbb1-4f45-99e1-ffa88586484f_terseLabel_en-US" xlink:label="lab_us-gaap_AssetsSoldUnderAgreementsToRepurchaseMaturityPeriodDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Repurchase Agreements and Similar Transactions, Maturity Periods [Domain] </link:label>
<link:label id="lab_us-gaap_AssetsSoldUnderAgreementsToRepurchaseMaturityPeriodDomain_label_en-US" xlink:label="lab_us-gaap_AssetsSoldUnderAgreementsToRepurchaseMaturityPeriodDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Repurchase Agreements and Similar Transactions, Maturity Periods [Domain] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AssetsSoldUnderAgreementsToRepurchaseMaturityPeriodDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AssetsSoldUnderAgreementsToRepurchaseMaturityPeriodDomain"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetsSoldUnderAgreementsToRepurchaseMaturityPeriodDomain" xlink:to="lab_us-gaap_AssetsSoldUnderAgreementsToRepurchaseMaturityPeriodDomain" xlink:type="arc" order="1"/>
<link:label id="lab_ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageGrantDateFairValue_e792c14d-a176-46bf-b714-0d4339fc2edf_periodStartLabel_en-US" xlink:label="lab_ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageGrantDateFairValue" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> RSUs at beginning of period (in dollars per share) </link:label>
<link:label id="lab_ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageGrantDateFairValue_adedce7b-f4d2-4fc2-a7b7-12ee78dfa87f_periodEndLabel_en-US" xlink:label="lab_ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageGrantDateFairValue" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> RSUs at end of period (in dollars per share) </link:label>
<link:label id="lab_ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageGrantDateFairValue_label_en-US" xlink:label="lab_ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageGrantDateFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Weighted Average Grant Date Fair Value </link:label>
<link:label id="lab_ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageGrantDateFairValue_documentation_en-US" xlink:label="lab_ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageGrantDateFairValue" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> The weighted average fair value of awards on equity-based plans excluding option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, revenue or profit achievement stock award plan) for which the employer is contingently obligated to issue equity instruments or transfer assets. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageGrantDateFairValue" xlink:href="ms-20231231.xsd#ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageGrantDateFairValue"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageGrantDateFairValue" xlink:to="lab_ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageGrantDateFairValue" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DeferredTaxAssetsGross_2db519f8-3fcb-4de9-a7b3-74d8d8e1ffd2_totalLabel_en-US" xlink:label="lab_us-gaap_DeferredTaxAssetsGross" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Total deferred tax assets </link:label>
<link:label id="lab_us-gaap_DeferredTaxAssetsGross_label_en-US" xlink:label="lab_us-gaap_DeferredTaxAssetsGross" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Deferred Tax Assets, Gross </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxAssetsGross" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DeferredTaxAssetsGross"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredTaxAssetsGross" xlink:to="lab_us-gaap_DeferredTaxAssetsGross" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_AssetsMember_75d049c0-148e-45a5-8022-5fad2f2efcf0_terseLabel_en-US" xlink:label="lab_us-gaap_AssetsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Assets </link:label>
<link:label id="lab_us-gaap_AssetsMember_label_en-US" xlink:label="lab_us-gaap_AssetsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Assets [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AssetsMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AssetsMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetsMember" xlink:to="lab_us-gaap_AssetsMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_RealEstateFundsMember_e3ad77cd-131a-40a9-a95b-3fd49a585c43_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstateFundsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Real estate </link:label>
<link:label id="lab_us-gaap_RealEstateFundsMember_label_en-US" xlink:label="lab_us-gaap_RealEstateFundsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Real Estate Funds [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_RealEstateFundsMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_RealEstateFundsMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateFundsMember" xlink:to="lab_us-gaap_RealEstateFundsMember" xlink:type="arc" order="1"/>
<link:label id="lab_srt_ParentCompanyMember_293da4a2-bfe3-4027-9672-11d95fbced3e_terseLabel_en-US" xlink:label="lab_srt_ParentCompanyMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Parent Company </link:label>
<link:label id="lab_srt_ParentCompanyMember_label_en-US" xlink:label="lab_srt_ParentCompanyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Parent Company [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_srt_ParentCompanyMember" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_ParentCompanyMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_ParentCompanyMember" xlink:to="lab_srt_ParentCompanyMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_CreditScoreFicoAxis_f9ac6de3-872d-4a6f-9d16-4ee5aa5c1e8a_terseLabel_en-US" xlink:label="lab_us-gaap_CreditScoreFicoAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Credit Score, FICO [Axis] </link:label>
<link:label id="lab_us-gaap_CreditScoreFicoAxis_label_en-US" xlink:label="lab_us-gaap_CreditScoreFicoAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Credit Score, FICO [Axis] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CreditScoreFicoAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CreditScoreFicoAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CreditScoreFicoAxis" xlink:to="lab_us-gaap_CreditScoreFicoAxis" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DepositLiabilitiesDisclosuresTextBlock_484bd0a2-0af7-4d1e-b651-89e795c42764_terseLabel_en-US" xlink:label="lab_us-gaap_DepositLiabilitiesDisclosuresTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Deposits </link:label>
<link:label id="lab_us-gaap_DepositLiabilitiesDisclosuresTextBlock_label_en-US" xlink:label="lab_us-gaap_DepositLiabilitiesDisclosuresTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Deposit Liabilities Disclosures [Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DepositLiabilitiesDisclosuresTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DepositLiabilitiesDisclosuresTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DepositLiabilitiesDisclosuresTextBlock" xlink:to="lab_us-gaap_DepositLiabilitiesDisclosuresTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_b444198a-56a4-4684-b1e1-18a8f004bcbd_terseLabel_en-US" xlink:label="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Year One </link:label>
<link:label id="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_label_en-US" xlink:label="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Lessee, Operating Lease, Liability, to be Paid, Year One </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths"/>
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<link:label id="lab_ms_DerivativeAssetFairValueUnsettled_1f6e0905-9ef1-4ffc-b256-985e4333a847_terseLabel_en-US" xlink:label="lab_ms_DerivativeAssetFairValueUnsettled" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative assets, unsettled fair value </link:label>
<link:label id="lab_ms_DerivativeAssetFairValueUnsettled_label_en-US" xlink:label="lab_ms_DerivativeAssetFairValueUnsettled" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative Asset, Fair Value, Unsettled </link:label>
<link:label id="lab_ms_DerivativeAssetFairValueUnsettled_documentation_en-US" xlink:label="lab_ms_DerivativeAssetFairValueUnsettled" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Unsettled fair value of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both. </link:label>
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<link:label id="lab_us-gaap_OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax_ab295d78-8472-4b77-b89b-2d76ca378a57_negatedLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Pension and other </link:label>
<link:label id="lab_us-gaap_OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax_label_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax"/>
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<link:label id="lab_ms_FinancingReceivableModifiedTable_0b9170ec-9637-45ba-8114-0ac33ba7a1ec_terseLabel_en-US" xlink:label="lab_ms_FinancingReceivableModifiedTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financing Receivable, Modified [Table] </link:label>
<link:label id="lab_ms_FinancingReceivableModifiedTable_label_en-US" xlink:label="lab_ms_FinancingReceivableModifiedTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financing Receivable, Modified [Table] </link:label>
<link:label id="lab_ms_FinancingReceivableModifiedTable_documentation_en-US" xlink:label="lab_ms_FinancingReceivableModifiedTable" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financing Receivable, Modified [Table] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_FinancingReceivableModifiedTable" xlink:href="ms-20231231.xsd#ms_FinancingReceivableModifiedTable"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_FinancingReceivableModifiedTable" xlink:to="lab_ms_FinancingReceivableModifiedTable" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations_4183401a-6289-4dd3-9e6f-32a73eebe7ae_negatedLabel_en-US" xlink:label="lab_us-gaap_UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Decreases related to lapse of statute of limitations </link:label>
<link:label id="lab_us-gaap_UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations_label_en-US" xlink:label="lab_us-gaap_UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Unrecognized Tax Benefits, Reduction Resulting from Lapse of Applicable Statute of Limitations </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations"/>
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<link:label id="lab_us-gaap_IncomeStatementLocationDomain_c709bd82-8065-408f-bcc3-757246582baa_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeStatementLocationDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Income Statement Location [Domain] </link:label>
<link:label id="lab_us-gaap_IncomeStatementLocationDomain_label_en-US" xlink:label="lab_us-gaap_IncomeStatementLocationDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Income Statement Location [Domain] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeStatementLocationDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_IncomeStatementLocationDomain"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeStatementLocationDomain" xlink:to="lab_us-gaap_IncomeStatementLocationDomain" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ValuationTechniqueDiscountedCashFlowMember_c8b75aaa-a7d4-411a-833d-3ce396b1ff9c_terseLabel_en-US" xlink:label="lab_us-gaap_ValuationTechniqueDiscountedCashFlowMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Discounted Cash Flow </link:label>
<link:label id="lab_us-gaap_ValuationTechniqueDiscountedCashFlowMember_label_en-US" xlink:label="lab_us-gaap_ValuationTechniqueDiscountedCashFlowMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Valuation Technique, Discounted Cash Flow [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ValuationTechniqueDiscountedCashFlowMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ValuationTechniqueDiscountedCashFlowMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ValuationTechniqueDiscountedCashFlowMember" xlink:to="lab_us-gaap_ValuationTechniqueDiscountedCashFlowMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock_32808f96-58fe-4441-b764-207231ff65e8_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Rollforward of Level 3 Liabilities Measured at Fair Value on a Recurring Basis </link:label>
<link:label id="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock_label_en-US" xlink:label="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock" xlink:to="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DerivativeAssetFairValueGrossAssetIncludingNotSubjectToMasterNettingArrangement_4aaca6d9-174e-4d20-bf07-3c9100c5e633_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeAssetFairValueGrossAssetIncludingNotSubjectToMasterNettingArrangement" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Total gross derivatives </link:label>
<link:label id="lab_us-gaap_DerivativeAssetFairValueGrossAssetIncludingNotSubjectToMasterNettingArrangement_label_en-US" xlink:label="lab_us-gaap_DerivativeAssetFairValueGrossAssetIncludingNotSubjectToMasterNettingArrangement" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeAssetFairValueGrossAssetIncludingNotSubjectToMasterNettingArrangement" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DerivativeAssetFairValueGrossAssetIncludingNotSubjectToMasterNettingArrangement"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeAssetFairValueGrossAssetIncludingNotSubjectToMasterNettingArrangement" xlink:to="lab_us-gaap_DerivativeAssetFairValueGrossAssetIncludingNotSubjectToMasterNettingArrangement" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FairValueOptionLoansHeldAsAssetsAbstract_4ba61fb3-e9bd-44e4-9718-e793283ce854_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueOptionLoansHeldAsAssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Loans </link:label>
<link:label id="lab_us-gaap_FairValueOptionLoansHeldAsAssetsAbstract_label_en-US" xlink:label="lab_us-gaap_FairValueOptionLoansHeldAsAssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value, Option, Loans Held as Assets [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueOptionLoansHeldAsAssetsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueOptionLoansHeldAsAssetsAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueOptionLoansHeldAsAssetsAbstract" xlink:to="lab_us-gaap_FairValueOptionLoansHeldAsAssetsAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_NetIncomeLossAttributableToNonredeemableNoncontrollingInterest_df10085d-03d3-4927-b601-b49a3e150012_terseLabel_en-US" xlink:label="lab_us-gaap_NetIncomeLossAttributableToNonredeemableNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Net income applicable to noncontrolling interests </link:label>
<link:label id="lab_us-gaap_NetIncomeLossAttributableToNonredeemableNoncontrollingInterest_bbfe881a-3326-41be-b507-cb713bcf6051_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_NetIncomeLossAttributableToNonredeemableNoncontrollingInterest" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Net income applicable to noncontrolling interests </link:label>
<link:label id="lab_us-gaap_NetIncomeLossAttributableToNonredeemableNoncontrollingInterest_label_en-US" xlink:label="lab_us-gaap_NetIncomeLossAttributableToNonredeemableNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Net Income (Loss) Attributable to Nonredeemable Noncontrolling Interest </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetIncomeLossAttributableToNonredeemableNoncontrollingInterest" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_NetIncomeLossAttributableToNonredeemableNoncontrollingInterest"/>
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<link:label id="lab_us-gaap_InvestmentsAbstract_afa06cf1-4edb-4284-a055-a3aa316740f4_terseLabel_en-US" xlink:label="lab_us-gaap_InvestmentsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Investment securities: </link:label>
<link:label id="lab_us-gaap_InvestmentsAbstract_label_en-US" xlink:label="lab_us-gaap_InvestmentsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Investments [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_InvestmentsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_InvestmentsAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InvestmentsAbstract" xlink:to="lab_us-gaap_InvestmentsAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract_0c2bb70f-0e91-4fdf-819e-d5dc835aa06a_terseLabel_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Average common shares outstanding </link:label>
<link:label id="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract_label_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Weighted Average Number of Shares Outstanding, Diluted [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract" xlink:to="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_ms_UnrealizedGainLossOnDebtValuationAdjustmentPretaxAccumulatedOtherComprehensiveIncomeLoss_c6ec54e4-fbfe-4916-ac46-d5638390b3e1_terseLabel_en-US" xlink:label="lab_ms_UnrealizedGainLossOnDebtValuationAdjustmentPretaxAccumulatedOtherComprehensiveIncomeLoss" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Cumulative pre-tax DVA gain (loss) recognized in AOCI </link:label>
<link:label id="lab_ms_UnrealizedGainLossOnDebtValuationAdjustmentPretaxAccumulatedOtherComprehensiveIncomeLoss_label_en-US" xlink:label="lab_ms_UnrealizedGainLossOnDebtValuationAdjustmentPretaxAccumulatedOtherComprehensiveIncomeLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Unrealized Gain (Loss) on Debt Valuation Adjustment, Pretax, Accumulated Other Comprehensive Income (Loss) </link:label>
<link:label id="lab_ms_UnrealizedGainLossOnDebtValuationAdjustmentPretaxAccumulatedOtherComprehensiveIncomeLoss_documentation_en-US" xlink:label="lab_ms_UnrealizedGainLossOnDebtValuationAdjustmentPretaxAccumulatedOtherComprehensiveIncomeLoss" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Amount of unrealized gain (loss) related to debt valuation adjustment, which was recorded in accumulated other comprehensive income. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_UnrealizedGainLossOnDebtValuationAdjustmentPretaxAccumulatedOtherComprehensiveIncomeLoss" xlink:href="ms-20231231.xsd#ms_UnrealizedGainLossOnDebtValuationAdjustmentPretaxAccumulatedOtherComprehensiveIncomeLoss"/>
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<link:label id="lab_us-gaap_StatementOfCashFlowsAbstract_f3471467-3479-48a9-a1ab-565e75e9718d_terseLabel_en-US" xlink:label="lab_us-gaap_StatementOfCashFlowsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Statement of Cash Flows [Abstract] </link:label>
<link:label id="lab_us-gaap_StatementOfCashFlowsAbstract_label_en-US" xlink:label="lab_us-gaap_StatementOfCashFlowsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Statement of Cash Flows [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementOfCashFlowsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_StatementOfCashFlowsAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementOfCashFlowsAbstract" xlink:to="lab_us-gaap_StatementOfCashFlowsAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DefinedBenefitPlanBenefitObligation_ca9886f6-89be-4567-8e51-522237f21328_periodStartLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanBenefitObligation" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Benefit obligation at beginning of year </link:label>
<link:label id="lab_us-gaap_DefinedBenefitPlanBenefitObligation_48702d7c-39c8-4d01-be1e-67e654a5df99_periodEndLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanBenefitObligation" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Projected benefit obligation at end of year </link:label>
<link:label id="lab_us-gaap_DefinedBenefitPlanBenefitObligation_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanBenefitObligation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Defined Benefit Plan, Benefit Obligation </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanBenefitObligation" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DefinedBenefitPlanBenefitObligation"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanBenefitObligation" xlink:to="lab_us-gaap_DefinedBenefitPlanBenefitObligation" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_AccumulatedForeignCurrencyAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember_f6c2a3e3-17da-420b-9eaf-615fde15337a_terseLabel_en-US" xlink:label="lab_us-gaap_AccumulatedForeignCurrencyAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Foreign Currency Translation Adjustment Including Noncontrolling Interest </link:label>
<link:label id="lab_us-gaap_AccumulatedForeignCurrencyAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember_label_en-US" xlink:label="lab_us-gaap_AccumulatedForeignCurrencyAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Accumulated Foreign Currency Adjustment Including Portion Attributable to Noncontrolling Interest [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccumulatedForeignCurrencyAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AccumulatedForeignCurrencyAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccumulatedForeignCurrencyAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember" xlink:to="lab_us-gaap_AccumulatedForeignCurrencyAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_AssetsAbstract_1051c9c2-e2d5-41b0-9e24-df2ce687c80a_terseLabel_en-US" xlink:label="lab_us-gaap_AssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Assets </link:label>
<link:label id="lab_us-gaap_AssetsAbstract_label_en-US" xlink:label="lab_us-gaap_AssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Assets [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AssetsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AssetsAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetsAbstract" xlink:to="lab_us-gaap_AssetsAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_ms_InvestmentCompanyRegulatoryFeeWaived_6cd8ad68-6be9-422b-8250-2a2ae066bde1_terseLabel_en-US" xlink:label="lab_ms_InvestmentCompanyRegulatoryFeeWaived" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fee waivers </link:label>
<link:label id="lab_ms_InvestmentCompanyRegulatoryFeeWaived_label_en-US" xlink:label="lab_ms_InvestmentCompanyRegulatoryFeeWaived" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Investment Company, Regulatory Fee Waived </link:label>
<link:label id="lab_ms_InvestmentCompanyRegulatoryFeeWaived_documentation_en-US" xlink:label="lab_ms_InvestmentCompanyRegulatoryFeeWaived" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Amount of fee waived by investment company to comply with regulatory requirements. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_InvestmentCompanyRegulatoryFeeWaived" xlink:href="ms-20231231.xsd#ms_InvestmentCompanyRegulatoryFeeWaived"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_InvestmentCompanyRegulatoryFeeWaived" xlink:to="lab_ms_InvestmentCompanyRegulatoryFeeWaived" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue_3fd5b858-e41d-4233-9a3d-c545dbe149f4_terseLabel_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> AFS securities: Fair value, after 10 years </link:label>
<link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue_label_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 10 </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue" xlink:to="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearThree_b1214256-a387-442f-8afb-0080df6531b5_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearThree" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> 2026 </link:label>
<link:label id="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearThree_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearThree" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Defined Benefit Plan, Expected Future Benefit Payment, Year Three </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearThree" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearThree"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearThree" xlink:to="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearThree" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DeferredTaxAssetsNetAbstract_8187c117-f1cf-451a-860d-1a6f2c1e6da2_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredTaxAssetsNetAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Gross deferred tax assets </link:label>
<link:label id="lab_us-gaap_DeferredTaxAssetsNetAbstract_label_en-US" xlink:label="lab_us-gaap_DeferredTaxAssetsNetAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Deferred Tax Assets, Net [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxAssetsNetAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DeferredTaxAssetsNetAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredTaxAssetsNetAbstract" xlink:to="lab_us-gaap_DeferredTaxAssetsNetAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_LiabilitiesAbstract_c52cea63-70de-4366-8fa3-4aaa7b7ca60c_terseLabel_en-US" xlink:label="lab_us-gaap_LiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Liabilities </link:label>
<link:label id="lab_us-gaap_LiabilitiesAbstract_label_en-US" xlink:label="lab_us-gaap_LiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Liabilities [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LiabilitiesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LiabilitiesAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LiabilitiesAbstract" xlink:to="lab_us-gaap_LiabilitiesAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisChangeInUnrealizedGainLoss_9a0b74ee-23a8-49b0-8556-8e49783c544c_negatedLabel_en-US" xlink:label="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisChangeInUnrealizedGainLoss" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Unrealized losses (gains) </link:label>
<link:label id="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisChangeInUnrealizedGainLoss_label_en-US" xlink:label="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisChangeInUnrealizedGainLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value, Liability, Recurring Basis, Still Held, Unrealized Gain (Loss) </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisChangeInUnrealizedGainLoss" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisChangeInUnrealizedGainLoss"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisChangeInUnrealizedGainLoss" xlink:to="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisChangeInUnrealizedGainLoss" xlink:type="arc" order="1"/>
<link:label id="lab_ms_AssetManagementSegmentMember_67dec587-6840-468c-b0be-f3feb492c0c5_terseLabel_en-US" xlink:label="lab_ms_AssetManagementSegmentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> IM </link:label>
<link:label id="lab_ms_AssetManagementSegmentMember_label_en-US" xlink:label="lab_ms_AssetManagementSegmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Asset Management Segment [Member] </link:label>
<link:label id="lab_ms_AssetManagementSegmentMember_documentation_en-US" xlink:label="lab_ms_AssetManagementSegmentMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Asset Management Segment [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_AssetManagementSegmentMember" xlink:href="ms-20231231.xsd#ms_AssetManagementSegmentMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_AssetManagementSegmentMember" xlink:to="lab_ms_AssetManagementSegmentMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_USTreasurySecuritiesMember_63630ee0-b4a1-46ae-a7fd-2bed0ba1dd74_terseLabel_en-US" xlink:label="lab_us-gaap_USTreasurySecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> U.S. Treasury securities </link:label>
<link:label id="lab_us-gaap_USTreasurySecuritiesMember_label_en-US" xlink:label="lab_us-gaap_USTreasurySecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> US Treasury Securities [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_USTreasurySecuritiesMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_USTreasurySecuritiesMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_USTreasurySecuritiesMember" xlink:to="lab_us-gaap_USTreasurySecuritiesMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities_57b39283-8d88-41b8-9327-f84880c7a944_totalLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Net cash provided by (used for) financing activities </link:label>
<link:label id="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Net Cash Provided by (Used in) Financing Activities </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:to="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_RetirementPlanTypeAxis_837c943b-2ea4-4205-bf7b-0c8ead8e3160_terseLabel_en-US" xlink:label="lab_us-gaap_RetirementPlanTypeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Retirement Plan Type [Axis] </link:label>
<link:label id="lab_us-gaap_RetirementPlanTypeAxis_label_en-US" xlink:label="lab_us-gaap_RetirementPlanTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Retirement Plan Type [Axis] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_RetirementPlanTypeAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_RetirementPlanTypeAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RetirementPlanTypeAxis" xlink:to="lab_us-gaap_RetirementPlanTypeAxis" xlink:type="arc" order="1"/>
<link:label id="lab_ms_InvestmentSecuritiesAccumulatedGrossUnrealizedLossBeforeTax_90b1953d-b2ca-43a9-9dce-11637213b3c9_terseLabel_en-US" xlink:label="lab_ms_InvestmentSecuritiesAccumulatedGrossUnrealizedLossBeforeTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Gross Unrealized Losses </link:label>
<link:label id="lab_ms_InvestmentSecuritiesAccumulatedGrossUnrealizedLossBeforeTax_label_en-US" xlink:label="lab_ms_InvestmentSecuritiesAccumulatedGrossUnrealizedLossBeforeTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Investment Securities Accumulated Gross Unrealized loss Before Tax </link:label>
<link:label id="lab_ms_InvestmentSecuritiesAccumulatedGrossUnrealizedLossBeforeTax_documentation_en-US" xlink:label="lab_ms_InvestmentSecuritiesAccumulatedGrossUnrealizedLossBeforeTax" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Amount before tax of unrealized loss in accumulated other comprehensive income (AOCI) on investments securities. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_InvestmentSecuritiesAccumulatedGrossUnrealizedLossBeforeTax" xlink:href="ms-20231231.xsd#ms_InvestmentSecuritiesAccumulatedGrossUnrealizedLossBeforeTax"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_InvestmentSecuritiesAccumulatedGrossUnrealizedLossBeforeTax" xlink:to="lab_ms_InvestmentSecuritiesAccumulatedGrossUnrealizedLossBeforeTax" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_11679cce-9497-4d3a-a620-294c8cb46d2d_terseLabel_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Commitments, Guarantees and Contingencies </link:label>
<link:label id="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Commitments and Contingencies Disclosure [Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CommitmentsAndContingenciesDisclosureTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:to="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_PaymentsForProceedsFromOtherInvestingActivities_3dcefc9d-68c1-4f6c-977b-74330a37d9a8_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsForProceedsFromOtherInvestingActivities" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other investing activities </link:label>
<link:label id="lab_us-gaap_PaymentsForProceedsFromOtherInvestingActivities_label_en-US" xlink:label="lab_us-gaap_PaymentsForProceedsFromOtherInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Payments for (Proceeds from) Other Investing Activities </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsForProceedsFromOtherInvestingActivities" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PaymentsForProceedsFromOtherInvestingActivities"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsForProceedsFromOtherInvestingActivities" xlink:to="lab_us-gaap_PaymentsForProceedsFromOtherInvestingActivities" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_RetainedEarningsMember_23cb6621-8016-4fd3-93cc-bdc00fb7a93b_terseLabel_en-US" xlink:label="lab_us-gaap_RetainedEarningsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Retained Earnings </link:label>
<link:label id="lab_us-gaap_RetainedEarningsMember_label_en-US" xlink:label="lab_us-gaap_RetainedEarningsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Retained Earnings [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_RetainedEarningsMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_RetainedEarningsMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RetainedEarningsMember" xlink:to="lab_us-gaap_RetainedEarningsMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_InterestIncomeExpenseNetAbstract_1a20e05f-9766-4a40-b85b-30d0e7e3c4de_terseLabel_en-US" xlink:label="lab_us-gaap_InterestIncomeExpenseNetAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Interest Income (Expense), Net [Abstract] </link:label>
<link:label id="lab_us-gaap_InterestIncomeExpenseNetAbstract_label_en-US" xlink:label="lab_us-gaap_InterestIncomeExpenseNetAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Interest Income (Expense), Net [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestIncomeExpenseNetAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_InterestIncomeExpenseNetAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestIncomeExpenseNetAbstract" xlink:to="lab_us-gaap_InterestIncomeExpenseNetAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_ms_GlobalWealthManagementGroupMember_0e2ddbd6-754d-4e8a-80c1-8fddf22dd742_terseLabel_en-US" xlink:label="lab_ms_GlobalWealthManagementGroupMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> WM </link:label>
<link:label id="lab_ms_GlobalWealthManagementGroupMember_label_en-US" xlink:label="lab_ms_GlobalWealthManagementGroupMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Global Wealth Management Group [Member] </link:label>
<link:label id="lab_ms_GlobalWealthManagementGroupMember_documentation_en-US" xlink:label="lab_ms_GlobalWealthManagementGroupMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Global Wealth Management Group [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_GlobalWealthManagementGroupMember" xlink:href="ms-20231231.xsd#ms_GlobalWealthManagementGroupMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_GlobalWealthManagementGroupMember" xlink:to="lab_ms_GlobalWealthManagementGroupMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_EarningsPerShareBasic_f66edf81-b613-4638-ae45-2a4f692ae8ce_terseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerShareBasic" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Earnings per common share - basic (in dollars per share) </link:label>
<link:label id="lab_us-gaap_EarningsPerShareBasic_label_en-US" xlink:label="lab_us-gaap_EarningsPerShareBasic" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Earnings Per Share, Basic </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_EarningsPerShareBasic" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_EarningsPerShareBasic"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EarningsPerShareBasic" xlink:to="lab_us-gaap_EarningsPerShareBasic" xlink:type="arc" order="1"/>
<link:label id="lab_ms_DebtSecuritiesHeldtomaturityMaturityAllocatedandSingleMaturityDateRollingafterOneThroughFiveYearsAmortizedCostLessAllowanceforCreditLoss_7f538c91-7612-4fec-97ed-52e1abf4868d_terseLabel_en-US" xlink:label="lab_ms_DebtSecuritiesHeldtomaturityMaturityAllocatedandSingleMaturityDateRollingafterOneThroughFiveYearsAmortizedCostLessAllowanceforCreditLoss" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> HTM securities: Net carrying amount, after 1 year through 5 years </link:label>
<link:label id="lab_ms_DebtSecuritiesHeldtomaturityMaturityAllocatedandSingleMaturityDateRollingafterOneThroughFiveYearsAmortizedCostLessAllowanceforCreditLoss_label_en-US" xlink:label="lab_ms_DebtSecuritiesHeldtomaturityMaturityAllocatedandSingleMaturityDateRollingafterOneThroughFiveYearsAmortizedCostLessAllowanceforCreditLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, Rolling after One Through Five Years, Amortized Cost Less Allowance for Credit Loss </link:label>
<link:label id="lab_ms_DebtSecuritiesHeldtomaturityMaturityAllocatedandSingleMaturityDateRollingafterOneThroughFiveYearsAmortizedCostLessAllowanceforCreditLoss_documentation_en-US" xlink:label="lab_ms_DebtSecuritiesHeldtomaturityMaturityAllocatedandSingleMaturityDateRollingafterOneThroughFiveYearsAmortizedCostLessAllowanceforCreditLoss" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, Rolling after One Through Five Years, Amortized Cost Less Allowance for Credit Loss </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_DebtSecuritiesHeldtomaturityMaturityAllocatedandSingleMaturityDateRollingafterOneThroughFiveYearsAmortizedCostLessAllowanceforCreditLoss" xlink:href="ms-20231231.xsd#ms_DebtSecuritiesHeldtomaturityMaturityAllocatedandSingleMaturityDateRollingafterOneThroughFiveYearsAmortizedCostLessAllowanceforCreditLoss"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_DebtSecuritiesHeldtomaturityMaturityAllocatedandSingleMaturityDateRollingafterOneThroughFiveYearsAmortizedCostLessAllowanceforCreditLoss" xlink:to="lab_ms_DebtSecuritiesHeldtomaturityMaturityAllocatedandSingleMaturityDateRollingafterOneThroughFiveYearsAmortizedCostLessAllowanceforCreditLoss" xlink:type="arc" order="1"/>
<link:label id="lab_ms_TaxSettlementsReceivedfromSubsidiaries_53d27364-94eb-49b1-8f09-710ae3910aeb_terseLabel_en-US" xlink:label="lab_ms_TaxSettlementsReceivedfromSubsidiaries" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Settlements received from subsidiaries </link:label>
<link:label id="lab_ms_TaxSettlementsReceivedfromSubsidiaries_label_en-US" xlink:label="lab_ms_TaxSettlementsReceivedfromSubsidiaries" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Tax Settlements Received from Subsidiaries </link:label>
<link:label id="lab_ms_TaxSettlementsReceivedfromSubsidiaries_documentation_en-US" xlink:label="lab_ms_TaxSettlementsReceivedfromSubsidiaries" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Tax Settlements Received from Subsidiaries </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_TaxSettlementsReceivedfromSubsidiaries" xlink:href="ms-20231231.xsd#ms_TaxSettlementsReceivedfromSubsidiaries"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_TaxSettlementsReceivedfromSubsidiaries" xlink:to="lab_ms_TaxSettlementsReceivedfromSubsidiaries" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DefinedBenefitPlanBenefitObligationBenefitsPaid_a23c0783-7f84-4104-ba41-26dede873dec_negatedLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanBenefitObligationBenefitsPaid" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Benefits paid </link:label>
<link:label id="lab_us-gaap_DefinedBenefitPlanBenefitObligationBenefitsPaid_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanBenefitObligationBenefitsPaid" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Defined Benefit Plan, Benefit Obligation, Benefits Paid </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanBenefitObligationBenefitsPaid" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DefinedBenefitPlanBenefitObligationBenefitsPaid"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanBenefitObligationBenefitsPaid" xlink:to="lab_us-gaap_DefinedBenefitPlanBenefitObligationBenefitsPaid" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ConsolidationPolicyTextBlock_9629b6d9-cb18-406c-a459-194330fa8bc7_terseLabel_en-US" xlink:label="lab_us-gaap_ConsolidationPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Consolidation </link:label>
<link:label id="lab_us-gaap_ConsolidationPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_ConsolidationPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Consolidation, Policy [Policy Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ConsolidationPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ConsolidationPolicyTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ConsolidationPolicyTextBlock" xlink:to="lab_us-gaap_ConsolidationPolicyTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_PrincipalInvestmentGainsLosses_6ac16c58-bb02-45e4-8e0f-787cd6247d14_terseLabel_en-US" xlink:label="lab_us-gaap_PrincipalInvestmentGainsLosses" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Investments </link:label>
<link:label id="lab_us-gaap_PrincipalInvestmentGainsLosses_label_en-US" xlink:label="lab_us-gaap_PrincipalInvestmentGainsLosses" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Principal Investment Gain (Loss) </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_PrincipalInvestmentGainsLosses" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PrincipalInvestmentGainsLosses"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PrincipalInvestmentGainsLosses" xlink:to="lab_us-gaap_PrincipalInvestmentGainsLosses" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ProceedsFromIssuanceOfDebt_38a65eab-0f04-4b4e-906f-af1e1d9050f4_verboseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromIssuanceOfDebt" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Proceeds from issuance of Borrowings </link:label>
<link:label id="lab_us-gaap_ProceedsFromIssuanceOfDebt_label_en-US" xlink:label="lab_us-gaap_ProceedsFromIssuanceOfDebt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Proceeds from Issuance of Debt </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromIssuanceOfDebt" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ProceedsFromIssuanceOfDebt"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromIssuanceOfDebt" xlink:to="lab_us-gaap_ProceedsFromIssuanceOfDebt" xlink:type="arc" order="1"/>
<link:label id="lab_ms_ShareBasedAwardsTermsOfAwardDomain_fea28044-a91c-43dc-bbec-e5bad15aa7f1_terseLabel_en-US" xlink:label="lab_ms_ShareBasedAwardsTermsOfAwardDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Share-based Awards, Terms of Award [Domain] </link:label>
<link:label id="lab_ms_ShareBasedAwardsTermsOfAwardDomain_label_en-US" xlink:label="lab_ms_ShareBasedAwardsTermsOfAwardDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Share-based Awards, Terms of Award [Domain] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_ShareBasedAwardsTermsOfAwardDomain" xlink:href="ms-20231231.xsd#ms_ShareBasedAwardsTermsOfAwardDomain"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_ShareBasedAwardsTermsOfAwardDomain" xlink:to="lab_ms_ShareBasedAwardsTermsOfAwardDomain" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ScheduleOfCreditDerivativesTable_10f63f0f-f515-4c87-9f63-53d516f9e2e3_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfCreditDerivativesTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Credit Derivatives [Table] </link:label>
<link:label id="lab_us-gaap_ScheduleOfCreditDerivativesTable_label_en-US" xlink:label="lab_us-gaap_ScheduleOfCreditDerivativesTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Credit Derivatives [Table] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfCreditDerivativesTable" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfCreditDerivativesTable"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfCreditDerivativesTable" xlink:to="lab_us-gaap_ScheduleOfCreditDerivativesTable" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_IncreaseDecreaseInAccountsPayable_61739270-9dc1-433c-91d8-5422fe48be20_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInAccountsPayable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Customer and other payables and other liabilities </link:label>
<link:label id="lab_us-gaap_IncreaseDecreaseInAccountsPayable_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInAccountsPayable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Increase (Decrease) in Accounts Payable </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInAccountsPayable" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_IncreaseDecreaseInAccountsPayable"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInAccountsPayable" xlink:to="lab_us-gaap_IncreaseDecreaseInAccountsPayable" xlink:type="arc" order="1"/>
<link:label id="lab_srt_AmericasMember_a9a15fc7-b2d7-4fd4-bfb1-d44249f3b0ad_terseLabel_en-US" xlink:label="lab_srt_AmericasMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Americas </link:label>
<link:label id="lab_srt_AmericasMember_label_en-US" xlink:label="lab_srt_AmericasMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Americas [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_srt_AmericasMember" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_AmericasMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_AmericasMember" xlink:to="lab_srt_AmericasMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear_336fdf61-3108-478a-9e5b-398cd9646e60_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Four Years Ago </link:label>
<link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" xlink:to="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_HedgedLiabilityFairValueHedge_e26c4939-92a5-443b-b1c0-6e273d6fd291_terseLabel_en-US" xlink:label="lab_us-gaap_HedgedLiabilityFairValueHedge" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Carrying amount currently or previously hedged </link:label>
<link:label id="lab_us-gaap_HedgedLiabilityFairValueHedge_label_en-US" xlink:label="lab_us-gaap_HedgedLiabilityFairValueHedge" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Hedged Liability, Fair Value Hedge </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_HedgedLiabilityFairValueHedge" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_HedgedLiabilityFairValueHedge"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_HedgedLiabilityFairValueHedge" xlink:to="lab_us-gaap_HedgedLiabilityFairValueHedge" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ObligationToReturnSecuritiesReceivedAsCollateral_baca4aa1-36bb-46eb-8f8e-053e8e60edfe_verboseLabel_en-US" xlink:label="lab_us-gaap_ObligationToReturnSecuritiesReceivedAsCollateral" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Trading liabilities—Obligation to return securities received as collateral </link:label>
<link:label id="lab_us-gaap_ObligationToReturnSecuritiesReceivedAsCollateral_label_en-US" xlink:label="lab_us-gaap_ObligationToReturnSecuritiesReceivedAsCollateral" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Obligation to Return Securities Received as Collateral </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ObligationToReturnSecuritiesReceivedAsCollateral" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ObligationToReturnSecuritiesReceivedAsCollateral"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ObligationToReturnSecuritiesReceivedAsCollateral" xlink:to="lab_us-gaap_ObligationToReturnSecuritiesReceivedAsCollateral" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_SecuritiesBorrowedAmountOffsetAgainstCollateral_df669ae9-c561-4b70-b27f-842613ff6da6_totalLabel_en-US" xlink:label="lab_us-gaap_SecuritiesBorrowedAmountOffsetAgainstCollateral" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Net Amounts </link:label>
<link:label id="lab_us-gaap_SecuritiesBorrowedAmountOffsetAgainstCollateral_label_en-US" xlink:label="lab_us-gaap_SecuritiesBorrowedAmountOffsetAgainstCollateral" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Security Borrowed, Including Not Subject to Master Netting Arrangement, after Offset and Deduction </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_SecuritiesBorrowedAmountOffsetAgainstCollateral" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SecuritiesBorrowedAmountOffsetAgainstCollateral"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SecuritiesBorrowedAmountOffsetAgainstCollateral" xlink:to="lab_us-gaap_SecuritiesBorrowedAmountOffsetAgainstCollateral" xlink:type="arc" order="1"/>
<link:label id="lab_dei_EntityPublicFloat_efe92655-cbba-4b23-b633-c3a3993c60f2_terseLabel_en-US" xlink:label="lab_dei_EntityPublicFloat" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Entity Public Float </link:label>
<link:label id="lab_dei_EntityPublicFloat_label_en-US" xlink:label="lab_dei_EntityPublicFloat" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Entity Public Float </link:label>
<link:loc xlink:type="locator" xlink:label="loc_dei_EntityPublicFloat" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityPublicFloat"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityPublicFloat" xlink:to="lab_dei_EntityPublicFloat" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems_67b1e013-34bc-4e6c-b188-9ad021f9bd56_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value Measurements </link:label>
<link:label id="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems_label_en-US" xlink:label="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems"/>
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<link:label id="lab_ms_InterestIncomePaidSecuritiesPurchasedUnderAgreementsToResell_4f1f1a70-4995-4474-9bc4-54b5a182de66_terseLabel_en-US" xlink:label="lab_ms_InterestIncomePaidSecuritiesPurchasedUnderAgreementsToResell" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Securities purchased under agreements to resell </link:label>
<link:label id="lab_ms_InterestIncomePaidSecuritiesPurchasedUnderAgreementsToResell_label_en-US" xlink:label="lab_ms_InterestIncomePaidSecuritiesPurchasedUnderAgreementsToResell" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Interest Income (Paid), Securities Purchased under Agreements to Resell </link:label>
<link:label id="lab_ms_InterestIncomePaidSecuritiesPurchasedUnderAgreementsToResell_documentation_en-US" xlink:label="lab_ms_InterestIncomePaidSecuritiesPurchasedUnderAgreementsToResell" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Interest Income (Paid), Securities Purchased under Agreements to Resell </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_InterestIncomePaidSecuritiesPurchasedUnderAgreementsToResell" xlink:href="ms-20231231.xsd#ms_InterestIncomePaidSecuritiesPurchasedUnderAgreementsToResell"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_InterestIncomePaidSecuritiesPurchasedUnderAgreementsToResell" xlink:to="lab_ms_InterestIncomePaidSecuritiesPurchasedUnderAgreementsToResell" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ResidentialMortgageMember_004d5ae8-a000-422a-94df-615c04547914_verboseLabel_en-US" xlink:label="lab_us-gaap_ResidentialMortgageMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> RML </link:label>
<link:label id="lab_us-gaap_ResidentialMortgageMember_label_en-US" xlink:label="lab_us-gaap_ResidentialMortgageMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Residential Mortgage [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ResidentialMortgageMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ResidentialMortgageMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ResidentialMortgageMember" xlink:to="lab_us-gaap_ResidentialMortgageMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_AccountsNotesLoansAndFinancingReceivableGrossAllowanceAndNetAbstract_7ea13d8c-58a4-4722-bf2f-64eeab6ee51e_terseLabel_en-US" xlink:label="lab_us-gaap_AccountsNotesLoansAndFinancingReceivableGrossAllowanceAndNetAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract] </link:label>
<link:label id="lab_us-gaap_AccountsNotesLoansAndFinancingReceivableGrossAllowanceAndNetAbstract_label_en-US" xlink:label="lab_us-gaap_AccountsNotesLoansAndFinancingReceivableGrossAllowanceAndNetAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccountsNotesLoansAndFinancingReceivableGrossAllowanceAndNetAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AccountsNotesLoansAndFinancingReceivableGrossAllowanceAndNetAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccountsNotesLoansAndFinancingReceivableGrossAllowanceAndNetAbstract" xlink:to="lab_us-gaap_AccountsNotesLoansAndFinancingReceivableGrossAllowanceAndNetAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationBeforeTax_11c736f3-80d0-4eed-a2e6-bf4a6713cb66_terseLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationBeforeTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Net change in cash flow hedges included within AOCI </link:label>
<link:label id="lab_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationBeforeTax_label_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationBeforeTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification, before Tax </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationBeforeTax" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationBeforeTax"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationBeforeTax" xlink:to="lab_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationBeforeTax" xlink:type="arc" order="1"/>
<link:label id="lab_ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalAfterYearSix_b6a43189-44ed-4fe3-9ff2-0abfe3eec8c6_terseLabel_en-US" xlink:label="lab_ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalAfterYearSix" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> After year 6 </link:label>
<link:label id="lab_ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalAfterYearSix_label_en-US" xlink:label="lab_ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalAfterYearSix" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Transfers Accounted for as Secured Borrowings, Associated Liabilities, Maturities, Repayments of Principal after Year Six </link:label>
<link:label id="lab_ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalAfterYearSix_documentation_en-US" xlink:label="lab_ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalAfterYearSix" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Transfers Accounted for as Secured Borrowings, Associated Liabilities, Maturities, Repayments of Principal after Year Six </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalAfterYearSix" xlink:href="ms-20231231.xsd#ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalAfterYearSix"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalAfterYearSix" xlink:to="lab_ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalAfterYearSix" xlink:type="arc" order="1"/>
<link:label id="lab_ms_FiniteLivedIntangibleAssetsOtherIncreaseDecreaseDuringThePeriod_857cedf6-ecb3-456c-8b70-644b75c9097d_terseLabel_en-US" xlink:label="lab_ms_FiniteLivedIntangibleAssetsOtherIncreaseDecreaseDuringThePeriod" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other </link:label>
<link:label id="lab_ms_FiniteLivedIntangibleAssetsOtherIncreaseDecreaseDuringThePeriod_label_en-US" xlink:label="lab_ms_FiniteLivedIntangibleAssetsOtherIncreaseDecreaseDuringThePeriod" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Finite-Lived Intangible Assets, Other Increase (Decrease) During the Period </link:label>
<link:label id="lab_ms_FiniteLivedIntangibleAssetsOtherIncreaseDecreaseDuringThePeriod_documentation_en-US" xlink:label="lab_ms_FiniteLivedIntangibleAssetsOtherIncreaseDecreaseDuringThePeriod" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Amount of other increase (decrease) in carrying value of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_FiniteLivedIntangibleAssetsOtherIncreaseDecreaseDuringThePeriod" xlink:href="ms-20231231.xsd#ms_FiniteLivedIntangibleAssetsOtherIncreaseDecreaseDuringThePeriod"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_FiniteLivedIntangibleAssetsOtherIncreaseDecreaseDuringThePeriod" xlink:to="lab_ms_FiniteLivedIntangibleAssetsOtherIncreaseDecreaseDuringThePeriod" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_BrokerageCommissionsRevenue_0fbeb046-b305-43b3-8562-e9d4aac0050f_terseLabel_en-US" xlink:label="lab_us-gaap_BrokerageCommissionsRevenue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Commissions and fees </link:label>
<link:label id="lab_us-gaap_BrokerageCommissionsRevenue_label_en-US" xlink:label="lab_us-gaap_BrokerageCommissionsRevenue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Brokerage Commissions Revenue </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_BrokerageCommissionsRevenue" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_BrokerageCommissionsRevenue"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BrokerageCommissionsRevenue" xlink:to="lab_us-gaap_BrokerageCommissionsRevenue" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_BankingRegulationGlobalSystemicallyImportantBankGsibSurcharge_24c48c74-0b34-432c-99df-6f504d3993c2_terseLabel_en-US" xlink:label="lab_us-gaap_BankingRegulationGlobalSystemicallyImportantBankGsibSurcharge" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Standardized (as a percent) </link:label>
<link:label id="lab_us-gaap_BankingRegulationGlobalSystemicallyImportantBankGsibSurcharge_label_en-US" xlink:label="lab_us-gaap_BankingRegulationGlobalSystemicallyImportantBankGsibSurcharge" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Banking Regulation, Global Systemically Important Bank (GSIB) Surcharge </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_BankingRegulationGlobalSystemicallyImportantBankGsibSurcharge" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_BankingRegulationGlobalSystemicallyImportantBankGsibSurcharge"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BankingRegulationGlobalSystemicallyImportantBankGsibSurcharge" xlink:to="lab_us-gaap_BankingRegulationGlobalSystemicallyImportantBankGsibSurcharge" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost_90203ac2-0e28-406c-b166-f0a95fc14f9d_terseLabel_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> AFS securities: Amortized cost, due within 1 year </link:label>
<link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost_label_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, Year One </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost" xlink:to="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy_5dd18e3a-5899-429a-8c8c-be42ec2677c9_terseLabel_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Restricted Cash </link:label>
<link:label id="lab_us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy_label_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy" xlink:to="lab_us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy" xlink:type="arc" order="1"/>
<link:label id="lab_ms_CommitmentsLettersOfCreditAndOtherFinancialGuaranteesObtainedToSatisfyCollateralRequirementsMember_b9acf6d9-614b-4ee8-a496-2624104a1b3e_terseLabel_en-US" xlink:label="lab_ms_CommitmentsLettersOfCreditAndOtherFinancialGuaranteesObtainedToSatisfyCollateralRequirementsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Letters of credit and other financial guarantees </link:label>
<link:label id="lab_ms_CommitmentsLettersOfCreditAndOtherFinancialGuaranteesObtainedToSatisfyCollateralRequirementsMember_label_en-US" xlink:label="lab_ms_CommitmentsLettersOfCreditAndOtherFinancialGuaranteesObtainedToSatisfyCollateralRequirementsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Commitments, Letters of Credit and Other Financial Guarantees Obtained to Satisfy Collateral Requirements [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_CommitmentsLettersOfCreditAndOtherFinancialGuaranteesObtainedToSatisfyCollateralRequirementsMember" xlink:href="ms-20231231.xsd#ms_CommitmentsLettersOfCreditAndOtherFinancialGuaranteesObtainedToSatisfyCollateralRequirementsMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_CommitmentsLettersOfCreditAndOtherFinancialGuaranteesObtainedToSatisfyCollateralRequirementsMember" xlink:to="lab_ms_CommitmentsLettersOfCreditAndOtherFinancialGuaranteesObtainedToSatisfyCollateralRequirementsMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_c81050d7-78b0-4bd7-a830-f6f1b67e74f0_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Forfeited (in dollars per share) </link:label>
<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue" xlink:type="arc" order="1"/>
<link:label id="lab_ms_VariableInterestEntityProductGroupDomain_48facd11-c453-4f96-8ca7-64d5c2c6e9c9_terseLabel_en-US" xlink:label="lab_ms_VariableInterestEntityProductGroupDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Variable Interest Entity, Product Group [Domain] </link:label>
<link:label id="lab_ms_VariableInterestEntityProductGroupDomain_label_en-US" xlink:label="lab_ms_VariableInterestEntityProductGroupDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Variable Interest Entity, Product Group [Domain] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_VariableInterestEntityProductGroupDomain" xlink:href="ms-20231231.xsd#ms_VariableInterestEntityProductGroupDomain"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_VariableInterestEntityProductGroupDomain" xlink:to="lab_ms_VariableInterestEntityProductGroupDomain" xlink:type="arc" order="1"/>
<link:label id="lab_ms_BorrowingsAbstract_d1c433a8-c648-497f-8c16-fe2c0524ee8e_terseLabel_en-US" xlink:label="lab_ms_BorrowingsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Borrowings </link:label>
<link:label id="lab_ms_BorrowingsAbstract_label_en-US" xlink:label="lab_ms_BorrowingsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Borrowings [Abstract] </link:label>
<link:label id="lab_ms_BorrowingsAbstract_documentation_en-US" xlink:label="lab_ms_BorrowingsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Borrowings [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_BorrowingsAbstract" xlink:href="ms-20231231.xsd#ms_BorrowingsAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_BorrowingsAbstract" xlink:to="lab_ms_BorrowingsAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_NotesReceivableNetAbstract_f5a4d9bb-0278-4a30-ad7a-dd3a81ee3283_terseLabel_en-US" xlink:label="lab_us-gaap_NotesReceivableNetAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Loans: </link:label>
<link:label id="lab_us-gaap_NotesReceivableNetAbstract_label_en-US" xlink:label="lab_us-gaap_NotesReceivableNetAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financing Receivable, after Allowance for Credit Loss [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_NotesReceivableNetAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_NotesReceivableNetAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NotesReceivableNetAbstract" xlink:to="lab_us-gaap_NotesReceivableNetAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_GeographicDistributionForeignMember_250c3054-8ced-4784-b01d-9a1d85065277_terseLabel_en-US" xlink:label="lab_us-gaap_GeographicDistributionForeignMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Loans to non-U.S. borrowers, net </link:label>
<link:label id="lab_us-gaap_GeographicDistributionForeignMember_label_en-US" xlink:label="lab_us-gaap_GeographicDistributionForeignMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Geographic Distribution, Foreign [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_GeographicDistributionForeignMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_GeographicDistributionForeignMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GeographicDistributionForeignMember" xlink:to="lab_us-gaap_GeographicDistributionForeignMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DefinedBenefitPlanAmountsRecognizedInBalanceSheetAbstract_a1ed0eb0-7bd8-47e6-b45d-8baee1ea8698_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanAmountsRecognizedInBalanceSheetAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Amounts recognized in the balance sheet </link:label>
<link:label id="lab_us-gaap_DefinedBenefitPlanAmountsRecognizedInBalanceSheetAbstract_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanAmountsRecognizedInBalanceSheetAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Defined Benefit Plan, Amounts for Asset (Liability) Recognized in Statement of Financial Position [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanAmountsRecognizedInBalanceSheetAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DefinedBenefitPlanAmountsRecognizedInBalanceSheetAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanAmountsRecognizedInBalanceSheetAbstract" xlink:to="lab_us-gaap_DefinedBenefitPlanAmountsRecognizedInBalanceSheetAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_83585d28-650d-4adc-b4d0-9db0b68d9257_negatedLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Forfeited (shares) </link:label>
<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Forfeited in Period </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DefinedContributionPlanEmployerMatchingContributionPercent_83f7fd4d-f607-4aeb-ab1e-ca0ab9d9c517_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedContributionPlanEmployerMatchingContributionPercent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Proportion of employer matching contribution of eligible pay (as a percent) </link:label>
<link:label id="lab_us-gaap_DefinedContributionPlanEmployerMatchingContributionPercent_label_en-US" xlink:label="lab_us-gaap_DefinedContributionPlanEmployerMatchingContributionPercent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedContributionPlanEmployerMatchingContributionPercent" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DefinedContributionPlanEmployerMatchingContributionPercent"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedContributionPlanEmployerMatchingContributionPercent" xlink:to="lab_us-gaap_DefinedContributionPlanEmployerMatchingContributionPercent" xlink:type="arc" order="1"/>
<link:label id="lab_ms_AvailableForSaleSecuritiesThirdPartyGuaranteesPercent_5a9cfd02-1c4a-430e-bb0f-04f1bbda4cb1_terseLabel_en-US" xlink:label="lab_ms_AvailableForSaleSecuritiesThirdPartyGuaranteesPercent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Third party guarantees (as a percent) </link:label>
<link:label id="lab_ms_AvailableForSaleSecuritiesThirdPartyGuaranteesPercent_label_en-US" xlink:label="lab_ms_AvailableForSaleSecuritiesThirdPartyGuaranteesPercent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Available-for-sale Securities, Third Party Guarantees, Percent </link:label>
<link:label id="lab_ms_AvailableForSaleSecuritiesThirdPartyGuaranteesPercent_documentation_en-US" xlink:label="lab_ms_AvailableForSaleSecuritiesThirdPartyGuaranteesPercent" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Percent of third party guarantees against loss of value in the underlying assets related to available-for-sale security. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_AvailableForSaleSecuritiesThirdPartyGuaranteesPercent" xlink:href="ms-20231231.xsd#ms_AvailableForSaleSecuritiesThirdPartyGuaranteesPercent"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_AvailableForSaleSecuritiesThirdPartyGuaranteesPercent" xlink:to="lab_ms_AvailableForSaleSecuritiesThirdPartyGuaranteesPercent" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_LongtermDebtWeightedAverageInterestRate_1616667e-4e01-4f6d-b4f1-fd988dd3db33_verboseLabel_en-US" xlink:label="lab_us-gaap_LongtermDebtWeightedAverageInterestRate" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Weighted average coupon at period end (as a percent) </link:label>
<link:label id="lab_us-gaap_LongtermDebtWeightedAverageInterestRate_label_en-US" xlink:label="lab_us-gaap_LongtermDebtWeightedAverageInterestRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Long-Term Debt, Weighted Average Interest Rate, at Point in Time </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongtermDebtWeightedAverageInterestRate" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LongtermDebtWeightedAverageInterestRate"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongtermDebtWeightedAverageInterestRate" xlink:to="lab_us-gaap_LongtermDebtWeightedAverageInterestRate" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_EffectiveIncomeTaxRateReconciliationTaxCredits_a1208438-36b1-4f88-88ea-9bdadcdb93a5_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_EffectiveIncomeTaxRateReconciliationTaxCredits" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Domestic tax credits and tax exempt income </link:label>
<link:label id="lab_us-gaap_EffectiveIncomeTaxRateReconciliationTaxCredits_label_en-US" xlink:label="lab_us-gaap_EffectiveIncomeTaxRateReconciliationTaxCredits" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Effective Income Tax Rate Reconciliation, Tax Credit, Percent </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateReconciliationTaxCredits" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationTaxCredits"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EffectiveIncomeTaxRateReconciliationTaxCredits" xlink:to="lab_us-gaap_EffectiveIncomeTaxRateReconciliationTaxCredits" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ScheduleOfGuaranteeObligationsTable_d32b3b55-063b-4990-9133-35bcebc1736e_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfGuaranteeObligationsTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Guarantor Obligations [Table] </link:label>
<link:label id="lab_us-gaap_ScheduleOfGuaranteeObligationsTable_label_en-US" xlink:label="lab_us-gaap_ScheduleOfGuaranteeObligationsTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Guarantor Obligations [Table] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfGuaranteeObligationsTable" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfGuaranteeObligationsTable"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfGuaranteeObligationsTable" xlink:to="lab_us-gaap_ScheduleOfGuaranteeObligationsTable" xlink:type="arc" order="1"/>
<link:label id="lab_dei_DocumentPeriodEndDate_0ee51f93-54a4-4309-a376-126ccb06af8c_terseLabel_en-US" xlink:label="lab_dei_DocumentPeriodEndDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Document Period End Date </link:label>
<link:label id="lab_dei_DocumentPeriodEndDate_label_en-US" xlink:label="lab_dei_DocumentPeriodEndDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Document Period End Date </link:label>
<link:loc xlink:type="locator" xlink:label="loc_dei_DocumentPeriodEndDate" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentPeriodEndDate"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentPeriodEndDate" xlink:to="lab_dei_DocumentPeriodEndDate" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_TreasuryStockCommonMember_27d7c43d-d301-4334-b5e2-d61747ab750d_terseLabel_en-US" xlink:label="lab_us-gaap_TreasuryStockCommonMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Common Stock Held in Treasury at Cost </link:label>
<link:label id="lab_us-gaap_TreasuryStockCommonMember_label_en-US" xlink:label="lab_us-gaap_TreasuryStockCommonMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Treasury Stock, Common [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_TreasuryStockCommonMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_TreasuryStockCommonMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TreasuryStockCommonMember" xlink:to="lab_us-gaap_TreasuryStockCommonMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_ShareBasedAwardsTermsOfAwardAxis_52806fe1-428b-40bc-999d-e226a03f59f3_terseLabel_en-US" xlink:label="lab_ms_ShareBasedAwardsTermsOfAwardAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Share-based Awards, Terms of Award [Axis] </link:label>
<link:label id="lab_ms_ShareBasedAwardsTermsOfAwardAxis_label_en-US" xlink:label="lab_ms_ShareBasedAwardsTermsOfAwardAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Share-based Awards, Terms of Award [Axis] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_ShareBasedAwardsTermsOfAwardAxis" xlink:href="ms-20231231.xsd#ms_ShareBasedAwardsTermsOfAwardAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_ShareBasedAwardsTermsOfAwardAxis" xlink:to="lab_ms_ShareBasedAwardsTermsOfAwardAxis" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_SegmentReportingInformationLineItems_771fb933-9ffc-4893-864a-3242c6e2a7b6_terseLabel_en-US" xlink:label="lab_us-gaap_SegmentReportingInformationLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Segment Reporting Information </link:label>
<link:label id="lab_us-gaap_SegmentReportingInformationLineItems_label_en-US" xlink:label="lab_us-gaap_SegmentReportingInformationLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Segment Reporting Information [Line Items] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_SegmentReportingInformationLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SegmentReportingInformationLineItems"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SegmentReportingInformationLineItems" xlink:to="lab_us-gaap_SegmentReportingInformationLineItems" xlink:type="arc" order="1"/>
<link:label id="lab_ms_MorganStanleyMufgSecuritiesCoLtdMember_21d73b43-0bf3-4579-830e-8fcc82214fc2_terseLabel_en-US" xlink:label="lab_ms_MorganStanleyMufgSecuritiesCoLtdMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Morgan Stanley MUFG Securities Co., Ltd. </link:label>
<link:label id="lab_ms_MorganStanleyMufgSecuritiesCoLtdMember_label_en-US" xlink:label="lab_ms_MorganStanleyMufgSecuritiesCoLtdMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Morgan Stanley MUFG Securities Co., Ltd. [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_MorganStanleyMufgSecuritiesCoLtdMember" xlink:href="ms-20231231.xsd#ms_MorganStanleyMufgSecuritiesCoLtdMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_MorganStanleyMufgSecuritiesCoLtdMember" xlink:to="lab_ms_MorganStanleyMufgSecuritiesCoLtdMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_IncomeTaxExpenseBenefit_2cdc7a3f-f1d3-480d-ab12-d4cdbe76cc60_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxExpenseBenefit" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Provision for income taxes </link:label>
<link:label id="lab_us-gaap_IncomeTaxExpenseBenefit_405cd4ce-8f0a-4502-99d9-951e57fc21d5_verboseLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxExpenseBenefit" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Provision for income taxes </link:label>
<link:label id="lab_us-gaap_IncomeTaxExpenseBenefit_9c8069f5-7fc5-4b41-beef-90b168329390_netLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxExpenseBenefit" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Provision for (benefit from) income taxes </link:label>
<link:label id="lab_us-gaap_IncomeTaxExpenseBenefit_label_en-US" xlink:label="lab_us-gaap_IncomeTaxExpenseBenefit" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Income Tax Expense (Benefit) </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeTaxExpenseBenefit" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_IncomeTaxExpenseBenefit"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeTaxExpenseBenefit" xlink:to="lab_us-gaap_IncomeTaxExpenseBenefit" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ReceivablesHeldForSaleAbstract_52a4d636-f71b-45df-9265-36f7c9df1dce_terseLabel_en-US" xlink:label="lab_us-gaap_ReceivablesHeldForSaleAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> HFS Loans </link:label>
<link:label id="lab_us-gaap_ReceivablesHeldForSaleAbstract_label_en-US" xlink:label="lab_us-gaap_ReceivablesHeldForSaleAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Receivable, Held-for-Sale [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ReceivablesHeldForSaleAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ReceivablesHeldForSaleAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ReceivablesHeldForSaleAbstract" xlink:to="lab_us-gaap_ReceivablesHeldForSaleAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_ms_InvestmentInSubsidiariesAtEquityNonBank_5a09fcfe-4519-438a-a50c-ae151d3a5570_terseLabel_en-US" xlink:label="lab_ms_InvestmentInSubsidiariesAtEquityNonBank" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Non-bank </link:label>
<link:label id="lab_ms_InvestmentInSubsidiariesAtEquityNonBank_label_en-US" xlink:label="lab_ms_InvestmentInSubsidiariesAtEquityNonBank" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Investment In Subsidiaries at Equity, Non-bank </link:label>
<link:label id="lab_ms_InvestmentInSubsidiariesAtEquityNonBank_documentation_en-US" xlink:label="lab_ms_InvestmentInSubsidiariesAtEquityNonBank" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Investment in subsidiaries, at equity, non-bank. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_InvestmentInSubsidiariesAtEquityNonBank" xlink:href="ms-20231231.xsd#ms_InvestmentInSubsidiariesAtEquityNonBank"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_InvestmentInSubsidiariesAtEquityNonBank" xlink:to="lab_ms_InvestmentInSubsidiariesAtEquityNonBank" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FairValueDisclosuresTextBlock_4e072f88-2d4f-43e8-81fa-322f05fb106d_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueDisclosuresTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Values </link:label>
<link:label id="lab_us-gaap_FairValueDisclosuresTextBlock_label_en-US" xlink:label="lab_us-gaap_FairValueDisclosuresTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value Disclosures [Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueDisclosuresTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueDisclosuresTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueDisclosuresTextBlock" xlink:to="lab_us-gaap_FairValueDisclosuresTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax_424b72b0-61a4-41e9-ba67-f89d31b58fbb_negatedTotalLabel_en-US" xlink:label="lab_us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Reclassified to earnings </link:label>
<link:label id="lab_us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax_label_en-US" xlink:label="lab_us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax"/>
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<link:label id="lab_us-gaap_CashAndCashEquivalentsAbstract_949d8363-90c3-4fc1-b4ee-5872ac38a6ef_terseLabel_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Cash and Cash Equivalents [Abstract] </link:label>
<link:label id="lab_us-gaap_CashAndCashEquivalentsAbstract_label_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Cash and Cash Equivalents [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashAndCashEquivalentsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CashAndCashEquivalentsAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashAndCashEquivalentsAbstract" xlink:to="lab_us-gaap_CashAndCashEquivalentsAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss_51e8dbac-926d-471e-8d01-345f503f6d7e_terseLabel_en-US" xlink:label="lab_us-gaap_DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> AFS: Gross Unrealized Losses, 12 Months or Longer </link:label>
<link:label id="lab_us-gaap_DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss_label_en-US" xlink:label="lab_us-gaap_DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss"/>
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<link:label id="lab_us-gaap_ScheduleOfAvailableForSaleSecuritiesLineItems_e79ae315-2a93-4d7a-8587-144bad2f363e_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfAvailableForSaleSecuritiesLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt Securities, Available-for-sale [Line Items] </link:label>
<link:label id="lab_us-gaap_ScheduleOfAvailableForSaleSecuritiesLineItems_label_en-US" xlink:label="lab_us-gaap_ScheduleOfAvailableForSaleSecuritiesLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt Securities, Available-for-Sale [Line Items] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfAvailableForSaleSecuritiesLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfAvailableForSaleSecuritiesLineItems"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfAvailableForSaleSecuritiesLineItems" xlink:to="lab_us-gaap_ScheduleOfAvailableForSaleSecuritiesLineItems" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_InterestExpenseDeposits_c8b1c8c5-5e34-490a-b4ba-b232f27cc483_verboseLabel_en-US" xlink:label="lab_us-gaap_InterestExpenseDeposits" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Deposits </link:label>
<link:label id="lab_us-gaap_InterestExpenseDeposits_label_en-US" xlink:label="lab_us-gaap_InterestExpenseDeposits" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Interest Expense, Deposits </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestExpenseDeposits" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_InterestExpenseDeposits"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestExpenseDeposits" xlink:to="lab_us-gaap_InterestExpenseDeposits" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_LesseeOperatingLeaseDiscountRate_3098f5a0-3bd9-40f5-b3a1-8d240b9a42af_terseLabel_en-US" xlink:label="lab_us-gaap_LesseeOperatingLeaseDiscountRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Discount rate (as a percent) </link:label>
<link:label id="lab_us-gaap_LesseeOperatingLeaseDiscountRate_label_en-US" xlink:label="lab_us-gaap_LesseeOperatingLeaseDiscountRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Lessee, Operating Lease, Discount Rate </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseDiscountRate" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LesseeOperatingLeaseDiscountRate"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LesseeOperatingLeaseDiscountRate" xlink:to="lab_us-gaap_LesseeOperatingLeaseDiscountRate" xlink:type="arc" order="1"/>
<link:label id="lab_ms_CreditDerivativesProtectionAxis_92a87b6c-7b30-42b8-afdc-d6b0c2712a30_terseLabel_en-US" xlink:label="lab_ms_CreditDerivativesProtectionAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Credit Derivatives, Protection [Axis] </link:label>
<link:label id="lab_ms_CreditDerivativesProtectionAxis_label_en-US" xlink:label="lab_ms_CreditDerivativesProtectionAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Credit Derivatives, Protection [Axis] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_CreditDerivativesProtectionAxis" xlink:href="ms-20231231.xsd#ms_CreditDerivativesProtectionAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_CreditDerivativesProtectionAxis" xlink:to="lab_ms_CreditDerivativesProtectionAxis" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_MoneyMarketFundsMember_cc9fc6d7-93c5-4f24-bd55-f058f663ec9a_terseLabel_en-US" xlink:label="lab_us-gaap_MoneyMarketFundsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Commingled Trust Funds: Money Market </link:label>
<link:label id="lab_us-gaap_MoneyMarketFundsMember_label_en-US" xlink:label="lab_us-gaap_MoneyMarketFundsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Money Market Funds [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_MoneyMarketFundsMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_MoneyMarketFundsMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MoneyMarketFundsMember" xlink:to="lab_us-gaap_MoneyMarketFundsMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DefinedBenefitPlanAmortizationOfGainsLosses_5c35363f-01d0-457c-abf5-8a5bd93c6b19_negatedLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanAmortizationOfGainsLosses" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Amortization of net gains and losses </link:label>
<link:label id="lab_us-gaap_DefinedBenefitPlanAmortizationOfGainsLosses_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanAmortizationOfGainsLosses" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Defined Benefit Plan, Amortization of Gain (Loss) </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanAmortizationOfGainsLosses" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DefinedBenefitPlanAmortizationOfGainsLosses"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanAmortizationOfGainsLosses" xlink:to="lab_us-gaap_DefinedBenefitPlanAmortizationOfGainsLosses" xlink:type="arc" order="1"/>
<link:label id="lab_ms_ForeignFixedIncomeFundsMember_34dc208a-5768-477a-862d-79ddd6855151_terseLabel_en-US" xlink:label="lab_ms_ForeignFixedIncomeFundsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Foreign Funds: Fixed Income </link:label>
<link:label id="lab_ms_ForeignFixedIncomeFundsMember_label_en-US" xlink:label="lab_ms_ForeignFixedIncomeFundsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Foreign Fixed Income Funds [Member] </link:label>
<link:label id="lab_ms_ForeignFixedIncomeFundsMember_documentation_en-US" xlink:label="lab_ms_ForeignFixedIncomeFundsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fixed income funds that invest in companies located outside of the investor's country of residence. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_ForeignFixedIncomeFundsMember" xlink:href="ms-20231231.xsd#ms_ForeignFixedIncomeFundsMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_ForeignFixedIncomeFundsMember" xlink:to="lab_ms_ForeignFixedIncomeFundsMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_BankingRegulationGlobalSystemicallyImportantBankGsibSurchargeAbstract_19b1d29f-241f-4e92-b9c9-100d615c7455_terseLabel_en-US" xlink:label="lab_us-gaap_BankingRegulationGlobalSystemicallyImportantBankGsibSurchargeAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> G-SIB capital surcharge </link:label>
<link:label id="lab_us-gaap_BankingRegulationGlobalSystemicallyImportantBankGsibSurchargeAbstract_label_en-US" xlink:label="lab_us-gaap_BankingRegulationGlobalSystemicallyImportantBankGsibSurchargeAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Banking Regulation, Global Systemically Important Bank (GSIB) Surcharge [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_BankingRegulationGlobalSystemicallyImportantBankGsibSurchargeAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_BankingRegulationGlobalSystemicallyImportantBankGsibSurchargeAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BankingRegulationGlobalSystemicallyImportantBankGsibSurchargeAbstract" xlink:to="lab_us-gaap_BankingRegulationGlobalSystemicallyImportantBankGsibSurchargeAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_ms_MitsubishiUfjMorganStanleySecuritiesCoLtdMember_3f07608c-5ca3-489b-bebb-cb76c463f013_terseLabel_en-US" xlink:label="lab_ms_MitsubishiUfjMorganStanleySecuritiesCoLtdMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Mitsubishi UFJ Morgan Stanley Securities Co., Ltd </link:label>
<link:label id="lab_ms_MitsubishiUfjMorganStanleySecuritiesCoLtdMember_label_en-US" xlink:label="lab_ms_MitsubishiUfjMorganStanleySecuritiesCoLtdMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Mitsubishi UFJ Morgan Stanley Securities Co., Ltd [Member] </link:label>
<link:label id="lab_ms_MitsubishiUfjMorganStanleySecuritiesCoLtdMember_documentation_en-US" xlink:label="lab_ms_MitsubishiUfjMorganStanleySecuritiesCoLtdMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Mitsubishi UFJ Morgan Stanley Securities Co., Ltd </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_MitsubishiUfjMorganStanleySecuritiesCoLtdMember" xlink:href="ms-20231231.xsd#ms_MitsubishiUfjMorganStanleySecuritiesCoLtdMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_MitsubishiUfjMorganStanleySecuritiesCoLtdMember" xlink:to="lab_ms_MitsubishiUfjMorganStanleySecuritiesCoLtdMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss_f269719f-0ae4-47a0-b9a9-b448d7b318a6_terseLabel_en-US" xlink:label="lab_us-gaap_DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> AFS: Gross Unrealized Losses, Less than 12 Months </link:label>
<link:label id="lab_us-gaap_DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss_label_en-US" xlink:label="lab_us-gaap_DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss" xlink:to="lab_us-gaap_DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_55d0fcdc-e0ff-4f5d-8ea0-5bf653aa71ec_terseLabel_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Cash and cash equivalents </link:label>
<link:label id="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_c6ef483f-7560-4779-bd02-fb0fdcccd124_totalLabel_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Total Cash and cash equivalents </link:label>
<link:label id="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_label_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Cash and Cash Equivalents, at Carrying Value </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:to="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_7f931f98-5e71-44da-a30f-da9472de37e8_totalLabel_en-US" xlink:label="lab_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Comprehensive income </link:label>
<link:label id="lab_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_label_en-US" xlink:label="lab_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest" xlink:to="lab_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ScheduleOfSecuritiesFinancingTransactionsTextBlock_531d5970-bbf2-4ddd-9096-946d78fb9871_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfSecuritiesFinancingTransactionsTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Gross Secured Financing Balances </link:label>
<link:label id="lab_us-gaap_ScheduleOfSecuritiesFinancingTransactionsTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfSecuritiesFinancingTransactionsTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Securities Financing Transactions [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfSecuritiesFinancingTransactionsTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfSecuritiesFinancingTransactionsTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfSecuritiesFinancingTransactionsTextBlock" xlink:to="lab_us-gaap_ScheduleOfSecuritiesFinancingTransactionsTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_ms_AccountsReceivableAndOtherReceivablesNetMember_dcb76c92-d1c5-46f9-bb8d-9b49f8bf1a55_terseLabel_en-US" xlink:label="lab_ms_AccountsReceivableAndOtherReceivablesNetMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Customer and other receivables, net </link:label>
<link:label id="lab_ms_AccountsReceivableAndOtherReceivablesNetMember_label_en-US" xlink:label="lab_ms_AccountsReceivableAndOtherReceivablesNetMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Accounts Receivable and Other Receivables, Net [Member] </link:label>
<link:label id="lab_ms_AccountsReceivableAndOtherReceivablesNetMember_documentation_en-US" xlink:label="lab_ms_AccountsReceivableAndOtherReceivablesNetMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Primary financial statement caption encompassing accounts receivable and other receivables, net of accounts payable and other payables. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_AccountsReceivableAndOtherReceivablesNetMember" xlink:href="ms-20231231.xsd#ms_AccountsReceivableAndOtherReceivablesNetMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_AccountsReceivableAndOtherReceivablesNetMember" xlink:to="lab_ms_AccountsReceivableAndOtherReceivablesNetMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FairValueOptionQuantitativeDisclosuresTable_458e0d09-3db5-4ece-bad3-e64ec80eccd0_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueOptionQuantitativeDisclosuresTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value Option, Disclosures [Table] </link:label>
<link:label id="lab_us-gaap_FairValueOptionQuantitativeDisclosuresTable_label_en-US" xlink:label="lab_us-gaap_FairValueOptionQuantitativeDisclosuresTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value Option, Disclosures [Table] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueOptionQuantitativeDisclosuresTable" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueOptionQuantitativeDisclosuresTable"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueOptionQuantitativeDisclosuresTable" xlink:to="lab_us-gaap_FairValueOptionQuantitativeDisclosuresTable" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DerivativeFairValueOfDerivativeAssetAmountOffsetAgainstCollateral_d847fbec-5ecc-46fd-b4ac-70bb3cffee79_totalLabel_en-US" xlink:label="lab_us-gaap_DerivativeFairValueOfDerivativeAssetAmountOffsetAgainstCollateral" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Net amounts </link:label>
<link:label id="lab_us-gaap_DerivativeFairValueOfDerivativeAssetAmountOffsetAgainstCollateral_label_en-US" xlink:label="lab_us-gaap_DerivativeFairValueOfDerivativeAssetAmountOffsetAgainstCollateral" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative Asset, Including Not Subject to Master Netting Arrangement, after Offset and Deduction </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeFairValueOfDerivativeAssetAmountOffsetAgainstCollateral" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DerivativeFairValueOfDerivativeAssetAmountOffsetAgainstCollateral"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeFairValueOfDerivativeAssetAmountOffsetAgainstCollateral" xlink:to="lab_us-gaap_DerivativeFairValueOfDerivativeAssetAmountOffsetAgainstCollateral" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_PropertyPlantAndEquipmentUsefulLife_14344429-ebe0-44b8-9141-86349f95d66b_terseLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentUsefulLife" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Estimated useful lives </link:label>
<link:label id="lab_us-gaap_PropertyPlantAndEquipmentUsefulLife_label_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentUsefulLife" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Property, Plant and Equipment, Useful Life </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentUsefulLife" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PropertyPlantAndEquipmentUsefulLife"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentUsefulLife" xlink:to="lab_us-gaap_PropertyPlantAndEquipmentUsefulLife" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_LongTermDebtTerm_3364519c-35c6-4157-a72d-be470352ba1f_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtTerm" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Weighted average stated maturity, in years </link:label>
<link:label id="lab_us-gaap_LongTermDebtTerm_label_en-US" xlink:label="lab_us-gaap_LongTermDebtTerm" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Long-Term Debt, Term </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtTerm" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LongTermDebtTerm"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtTerm" xlink:to="lab_us-gaap_LongTermDebtTerm" xlink:type="arc" order="1"/>
<link:label id="lab_ms_LeaseholdImprovementsOtherAssetsMember_dacc2090-82e4-4e2f-b19e-0886a2471db8_terseLabel_en-US" xlink:label="lab_ms_LeaseholdImprovementsOtherAssetsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Leasehold improvements—Other </link:label>
<link:label id="lab_ms_LeaseholdImprovementsOtherAssetsMember_label_en-US" xlink:label="lab_ms_LeaseholdImprovementsOtherAssetsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Leasehold Improvements, Other Assets [Member] </link:label>
<link:label id="lab_ms_LeaseholdImprovementsOtherAssetsMember_documentation_en-US" xlink:label="lab_ms_LeaseholdImprovementsOtherAssetsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Additions or improvements to assets, other than building, held under a lease arrangement. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_LeaseholdImprovementsOtherAssetsMember" xlink:href="ms-20231231.xsd#ms_LeaseholdImprovementsOtherAssetsMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_LeaseholdImprovementsOtherAssetsMember" xlink:to="lab_ms_LeaseholdImprovementsOtherAssetsMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_InterestRateContractMember_5685d782-ea48-4944-acc7-c43442da2a21_terseLabel_en-US" xlink:label="lab_us-gaap_InterestRateContractMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Interest rate </link:label>
<link:label id="lab_us-gaap_InterestRateContractMember_80e1d31d-5381-4e54-9431-57ef50b1c250_verboseLabel_en-US" xlink:label="lab_us-gaap_InterestRateContractMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Interest rates </link:label>
<link:label id="lab_us-gaap_InterestRateContractMember_label_en-US" xlink:label="lab_us-gaap_InterestRateContractMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Interest Rate Contract [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestRateContractMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_InterestRateContractMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestRateContractMember" xlink:to="lab_us-gaap_InterestRateContractMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_OtherCommitment_03b63d5f-5e6f-4737-8f3e-c030b71d132c_totalLabel_en-US" xlink:label="lab_us-gaap_OtherCommitment" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Total </link:label>
<link:label id="lab_us-gaap_OtherCommitment_label_en-US" xlink:label="lab_us-gaap_OtherCommitment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other Commitment </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherCommitment" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OtherCommitment"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherCommitment" xlink:to="lab_us-gaap_OtherCommitment" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ContractWithCustomerAssetAndLiabilityTableTextBlock_3eb8530c-0716-47db-bf08-88a01edea7f8_terseLabel_en-US" xlink:label="lab_us-gaap_ContractWithCustomerAssetAndLiabilityTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Receivables from Contracts with Customers </link:label>
<link:label id="lab_us-gaap_ContractWithCustomerAssetAndLiabilityTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ContractWithCustomerAssetAndLiabilityTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ContractWithCustomerAssetAndLiabilityTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ContractWithCustomerAssetAndLiabilityTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ContractWithCustomerAssetAndLiabilityTableTextBlock" xlink:to="lab_us-gaap_ContractWithCustomerAssetAndLiabilityTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear_1739eb1e-6a0a-4bb4-b1ab-5efb98d0bed8_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Two Years Ago </link:label>
<link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" xlink:to="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_MeasurementInputEbitdaMultipleMember_a6056a48-4691-4e4f-bb34-ae596c5a5814_terseLabel_en-US" xlink:label="lab_us-gaap_MeasurementInputEbitdaMultipleMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> EBITDA Multiple </link:label>
<link:label id="lab_us-gaap_MeasurementInputEbitdaMultipleMember_label_en-US" xlink:label="lab_us-gaap_MeasurementInputEbitdaMultipleMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Measurement Input, EBITDA Multiple [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_MeasurementInputEbitdaMultipleMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_MeasurementInputEbitdaMultipleMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MeasurementInputEbitdaMultipleMember" xlink:to="lab_us-gaap_MeasurementInputEbitdaMultipleMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities_e8bc4d7d-f05c-4fdb-b96c-ce6bc10ad831_negatedLabel_en-US" xlink:label="lab_us-gaap_UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Decreases related to settlements with taxing authorities </link:label>
<link:label id="lab_us-gaap_UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities_label_en-US" xlink:label="lab_us-gaap_UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Unrecognized Tax Benefits, Decrease Resulting from Settlements with Taxing Authorities </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities"/>
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<link:label id="lab_us-gaap_InterestIncomeMember_a39e4ea8-220e-49f3-b99a-2b9b3ce1d59d_terseLabel_en-US" xlink:label="lab_us-gaap_InterestIncomeMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Interest Income </link:label>
<link:label id="lab_us-gaap_InterestIncomeMember_label_en-US" xlink:label="lab_us-gaap_InterestIncomeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Interest Income [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestIncomeMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_InterestIncomeMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestIncomeMember" xlink:to="lab_us-gaap_InterestIncomeMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_AdditionalPaidInCapitalMember_2b94fceb-464e-4a1c-a8d9-743faa3e1c7e_terseLabel_en-US" xlink:label="lab_us-gaap_AdditionalPaidInCapitalMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Additional Paid-in Capital </link:label>
<link:label id="lab_us-gaap_AdditionalPaidInCapitalMember_label_en-US" xlink:label="lab_us-gaap_AdditionalPaidInCapitalMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Additional Paid-in Capital [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AdditionalPaidInCapitalMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AdditionalPaidInCapitalMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AdditionalPaidInCapitalMember" xlink:to="lab_us-gaap_AdditionalPaidInCapitalMember" xlink:type="arc" order="1"/>
<link:label id="lab_dei_DocumentAnnualReport_07cdca4b-1d36-4932-9b66-69448c539cb5_terseLabel_en-US" xlink:label="lab_dei_DocumentAnnualReport" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Document Annual Report </link:label>
<link:label id="lab_dei_DocumentAnnualReport_label_en-US" xlink:label="lab_dei_DocumentAnnualReport" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Document Annual Report </link:label>
<link:loc xlink:type="locator" xlink:label="loc_dei_DocumentAnnualReport" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentAnnualReport"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentAnnualReport" xlink:to="lab_dei_DocumentAnnualReport" xlink:type="arc" order="1"/>
<link:label id="lab_ms_MinimumSupplementaryLeverageRatio_e9e106d6-9c17-4aef-9976-13f732b7d89a_terseLabel_en-US" xlink:label="lab_ms_MinimumSupplementaryLeverageRatio" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> SLR (as a percent) </link:label>
<link:label id="lab_ms_MinimumSupplementaryLeverageRatio_label_en-US" xlink:label="lab_ms_MinimumSupplementaryLeverageRatio" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Minimum Supplementary Leverage Ratio </link:label>
<link:label id="lab_ms_MinimumSupplementaryLeverageRatio_documentation_en-US" xlink:label="lab_ms_MinimumSupplementaryLeverageRatio" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> The minimum percentage of tier one capital to total leverage exposure, as defined by regulatory framework. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_MinimumSupplementaryLeverageRatio" xlink:href="ms-20231231.xsd#ms_MinimumSupplementaryLeverageRatio"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_MinimumSupplementaryLeverageRatio" xlink:to="lab_ms_MinimumSupplementaryLeverageRatio" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_BalanceSheetLocationAxis_c0da4e13-0c42-4dd9-899a-76b8b7e3c342_terseLabel_en-US" xlink:label="lab_us-gaap_BalanceSheetLocationAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Balance Sheet Location [Axis] </link:label>
<link:label id="lab_us-gaap_BalanceSheetLocationAxis_label_en-US" xlink:label="lab_us-gaap_BalanceSheetLocationAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Balance Sheet Location [Axis] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_BalanceSheetLocationAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_BalanceSheetLocationAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BalanceSheetLocationAxis" xlink:to="lab_us-gaap_BalanceSheetLocationAxis" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_IncomeLossFromEquityMethodInvestments_f2689f96-a40f-43cd-aebd-48ceaa6af785_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeLossFromEquityMethodInvestments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Income (loss) </link:label>
<link:label id="lab_us-gaap_IncomeLossFromEquityMethodInvestments_ae9081f3-0a0b-4297-88c2-651b08d10425_verboseLabel_en-US" xlink:label="lab_us-gaap_IncomeLossFromEquityMethodInvestments" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Income (loss) from investment in MUMSS </link:label>
<link:label id="lab_us-gaap_IncomeLossFromEquityMethodInvestments_label_en-US" xlink:label="lab_us-gaap_IncomeLossFromEquityMethodInvestments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Income (Loss) from Equity Method Investments </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeLossFromEquityMethodInvestments" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_IncomeLossFromEquityMethodInvestments"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeLossFromEquityMethodInvestments" xlink:to="lab_us-gaap_IncomeLossFromEquityMethodInvestments" xlink:type="arc" order="1"/>
<link:label id="lab_ms_ReconciliationOfAssetsFromGeographicAreasToConsolidatedTableTextBlock_e91cae62-1e4e-4f11-aea4-643202becd7e_terseLabel_en-US" xlink:label="lab_ms_ReconciliationOfAssetsFromGeographicAreasToConsolidatedTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Total Assets by Region </link:label>
<link:label id="lab_ms_ReconciliationOfAssetsFromGeographicAreasToConsolidatedTableTextBlock_label_en-US" xlink:label="lab_ms_ReconciliationOfAssetsFromGeographicAreasToConsolidatedTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Reconciliation of Assets from Geographic Areas to Consolidated [Table Text Block] </link:label>
<link:label id="lab_ms_ReconciliationOfAssetsFromGeographicAreasToConsolidatedTableTextBlock_documentation_en-US" xlink:label="lab_ms_ReconciliationOfAssetsFromGeographicAreasToConsolidatedTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Tabular disclosure of all significant reconciling items in the reconciliation of total assets from geographic areas to the entity's consolidated assets. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_ReconciliationOfAssetsFromGeographicAreasToConsolidatedTableTextBlock" xlink:href="ms-20231231.xsd#ms_ReconciliationOfAssetsFromGeographicAreasToConsolidatedTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_ReconciliationOfAssetsFromGeographicAreasToConsolidatedTableTextBlock" xlink:to="lab_ms_ReconciliationOfAssetsFromGeographicAreasToConsolidatedTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_OtherLiabilitiesMember_07b57ea9-0176-464c-ae9a-0d23c8b4f5f0_verboseLabel_en-US" xlink:label="lab_us-gaap_OtherLiabilitiesMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other liabilities and accrued expenses—Lending commitments </link:label>
<link:label id="lab_us-gaap_OtherLiabilitiesMember_label_en-US" xlink:label="lab_us-gaap_OtherLiabilitiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other Liabilities [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherLiabilitiesMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OtherLiabilitiesMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherLiabilitiesMember" xlink:to="lab_us-gaap_OtherLiabilitiesMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_LossContingenciesLineItems_778c406c-660b-4206-9c50-2eeccf422114_terseLabel_en-US" xlink:label="lab_us-gaap_LossContingenciesLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Loss Contingencies </link:label>
<link:label id="lab_us-gaap_LossContingenciesLineItems_label_en-US" xlink:label="lab_us-gaap_LossContingenciesLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Loss Contingencies [Line Items] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LossContingenciesLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LossContingenciesLineItems"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LossContingenciesLineItems" xlink:to="lab_us-gaap_LossContingenciesLineItems" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_EffectiveIncomeTaxRateReconciliationTaxExemptIncome_5137f90b-f461-4d2e-b04b-e4baa1f192a1_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_EffectiveIncomeTaxRateReconciliationTaxExemptIncome" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Non-taxable income </link:label>
<link:label id="lab_us-gaap_EffectiveIncomeTaxRateReconciliationTaxExemptIncome_label_en-US" xlink:label="lab_us-gaap_EffectiveIncomeTaxRateReconciliationTaxExemptIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Effective Income Tax Rate Reconciliation, Tax Exempt Income, Percent </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateReconciliationTaxExemptIncome" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationTaxExemptIncome"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EffectiveIncomeTaxRateReconciliationTaxExemptIncome" xlink:to="lab_us-gaap_EffectiveIncomeTaxRateReconciliationTaxExemptIncome" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DebtInstrumentMeasurementInput_ec415d97-0c0a-431a-bc32-d7ee85074d8d_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentMeasurementInput" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Borrowings, measurement input value </link:label>
<link:label id="lab_us-gaap_DebtInstrumentMeasurementInput_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentMeasurementInput" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt Instrument, Measurement Input </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentMeasurementInput" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DebtInstrumentMeasurementInput"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentMeasurementInput" xlink:to="lab_us-gaap_DebtInstrumentMeasurementInput" xlink:type="arc" order="1"/>
<link:label id="lab_country_US_91ae8fb6-8934-466c-aaec-daf5bee546f9_terseLabel_en-US" xlink:label="lab_country_US" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> U.S. </link:label>
<link:label id="lab_country_US_label_en-US" xlink:label="lab_country_US" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> UNITED STATES </link:label>
<link:loc xlink:type="locator" xlink:label="loc_country_US" xlink:href="https://xbrl.sec.gov/country/2023/country-2023.xsd#country_US"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_country_US" xlink:to="lab_country_US" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FairValueMeasurementsRecurringMember_39351638-9797-46f3-a301-5afdb220be81_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueMeasurementsRecurringMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Recurring </link:label>
<link:label id="lab_us-gaap_FairValueMeasurementsRecurringMember_label_en-US" xlink:label="lab_us-gaap_FairValueMeasurementsRecurringMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value, Recurring [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueMeasurementsRecurringMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueMeasurementsRecurringMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueMeasurementsRecurringMember" xlink:to="lab_us-gaap_FairValueMeasurementsRecurringMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesLineItems_9e39bd67-74bc-441b-9f6c-bb577d1c5c89_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements </link:label>
<link:label id="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesLineItems_label_en-US" xlink:label="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value Measurement Inputs and Valuation Techniques [Line Items] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesLineItems"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesLineItems" xlink:to="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesLineItems" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_0726b668-5232-465d-b420-175790716d90_totalLabel_en-US" xlink:label="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Total undiscounted cash flows </link:label>
<link:label id="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_label_en-US" xlink:label="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Lessee, Operating Lease, Liability, to be Paid </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue" xlink:to="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ScheduleOfCashFlowSupplementalDisclosuresTableTextBlock_3a4b86ca-1edb-4f87-b5c7-6b727a679451_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfCashFlowSupplementalDisclosuresTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Cash Flows Statement Supplemental Information </link:label>
<link:label id="lab_us-gaap_ScheduleOfCashFlowSupplementalDisclosuresTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfCashFlowSupplementalDisclosuresTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Cash Flow, Supplemental Disclosures [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfCashFlowSupplementalDisclosuresTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfCashFlowSupplementalDisclosuresTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfCashFlowSupplementalDisclosuresTableTextBlock" xlink:to="lab_us-gaap_ScheduleOfCashFlowSupplementalDisclosuresTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchases_e27a9a56-02cd-4722-98f1-f2a89ce46b61_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchases" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Purchases </link:label>
<link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchases_label_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchases" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchases" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchases"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchases" xlink:to="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchases" xlink:type="arc" order="1"/>
<link:label id="lab_ms_ScheduleOfChangesInOtherComprehensiveIncomeLossByComponentsTableTextBlock_85fd064b-3431-4745-a42d-f62d6fc0a7ea_terseLabel_en-US" xlink:label="lab_ms_ScheduleOfChangesInOtherComprehensiveIncomeLossByComponentsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Components of Period Changes in OCI </link:label>
<link:label id="lab_ms_ScheduleOfChangesInOtherComprehensiveIncomeLossByComponentsTableTextBlock_label_en-US" xlink:label="lab_ms_ScheduleOfChangesInOtherComprehensiveIncomeLossByComponentsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Changes in Other Comprehensive Income (Loss) by Components [Table Text Block] </link:label>
<link:label id="lab_ms_ScheduleOfChangesInOtherComprehensiveIncomeLossByComponentsTableTextBlock_documentation_en-US" xlink:label="lab_ms_ScheduleOfChangesInOtherComprehensiveIncomeLossByComponentsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Tabular disclosure of period changes in other comprehensive income (loss) components. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_ScheduleOfChangesInOtherComprehensiveIncomeLossByComponentsTableTextBlock" xlink:href="ms-20231231.xsd#ms_ScheduleOfChangesInOtherComprehensiveIncomeLossByComponentsTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_ScheduleOfChangesInOtherComprehensiveIncomeLossByComponentsTableTextBlock" xlink:to="lab_ms_ScheduleOfChangesInOtherComprehensiveIncomeLossByComponentsTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_ms_ScheduleofCarriedInterestCompensationExpenseTableTextBlock_faa283e5-cad4-49ba-874b-7211be04a6c7_terseLabel_en-US" xlink:label="lab_ms_ScheduleofCarriedInterestCompensationExpenseTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Carried Interest Compensation Expense </link:label>
<link:label id="lab_ms_ScheduleofCarriedInterestCompensationExpenseTableTextBlock_label_en-US" xlink:label="lab_ms_ScheduleofCarriedInterestCompensationExpenseTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Carried Interest Compensation Expense [Table Text Block] </link:label>
<link:label id="lab_ms_ScheduleofCarriedInterestCompensationExpenseTableTextBlock_documentation_en-US" xlink:label="lab_ms_ScheduleofCarriedInterestCompensationExpenseTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Carried Interest Compensation Expense [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_ScheduleofCarriedInterestCompensationExpenseTableTextBlock" xlink:href="ms-20231231.xsd#ms_ScheduleofCarriedInterestCompensationExpenseTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_ScheduleofCarriedInterestCompensationExpenseTableTextBlock" xlink:to="lab_ms_ScheduleofCarriedInterestCompensationExpenseTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_ms_TierOneRiskBasedCommonCapitalRequiredForCapitalAdequacyToRiskWeightedAssets_7e0358e7-ec89-4295-9b23-7c04a23ecd71_verboseLabel_en-US" xlink:label="lab_ms_TierOneRiskBasedCommonCapitalRequiredForCapitalAdequacyToRiskWeightedAssets" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Standardized (as a percent) </link:label>
<link:label id="lab_ms_TierOneRiskBasedCommonCapitalRequiredForCapitalAdequacyToRiskWeightedAssets_a0430bec-51ad-4f6b-9ee0-8dc52e04cf37_terseLabel_en-US" xlink:label="lab_ms_TierOneRiskBasedCommonCapitalRequiredForCapitalAdequacyToRiskWeightedAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Common Equity Tier 1 capital (as a percent) </link:label>
<link:label id="lab_ms_TierOneRiskBasedCommonCapitalRequiredForCapitalAdequacyToRiskWeightedAssets_label_en-US" xlink:label="lab_ms_TierOneRiskBasedCommonCapitalRequiredForCapitalAdequacyToRiskWeightedAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Tier One Risk Based Common Capital Required for Capital Adequacy to Risk Weighted Assets </link:label>
<link:label id="lab_ms_TierOneRiskBasedCommonCapitalRequiredForCapitalAdequacyToRiskWeightedAssets_documentation_en-US" xlink:label="lab_ms_TierOneRiskBasedCommonCapitalRequiredForCapitalAdequacyToRiskWeightedAssets" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> The minimum common equity Tier One Capital Ratio (Common equity Tier one capital divided by risk-weighted assets) required for capital adequacy purposes under the regulatory framework for prompt corrective action. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_TierOneRiskBasedCommonCapitalRequiredForCapitalAdequacyToRiskWeightedAssets" xlink:href="ms-20231231.xsd#ms_TierOneRiskBasedCommonCapitalRequiredForCapitalAdequacyToRiskWeightedAssets"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_TierOneRiskBasedCommonCapitalRequiredForCapitalAdequacyToRiskWeightedAssets" xlink:to="lab_ms_TierOneRiskBasedCommonCapitalRequiredForCapitalAdequacyToRiskWeightedAssets" xlink:type="arc" order="1"/>
<link:label id="lab_ms_ExtendedMaturityAndPaymentDeferralMember_a902f6c5-aef1-47fa-b55e-4ed68e87822d_terseLabel_en-US" xlink:label="lab_ms_ExtendedMaturityAndPaymentDeferralMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Combination - Multiple Modification </link:label>
<link:label id="lab_ms_ExtendedMaturityAndPaymentDeferralMember_label_en-US" xlink:label="lab_ms_ExtendedMaturityAndPaymentDeferralMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Extended Maturity And Payment Deferral [Member] </link:label>
<link:label id="lab_ms_ExtendedMaturityAndPaymentDeferralMember_documentation_en-US" xlink:label="lab_ms_ExtendedMaturityAndPaymentDeferralMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Extended Maturity And Payment Deferral </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_ExtendedMaturityAndPaymentDeferralMember" xlink:href="ms-20231231.xsd#ms_ExtendedMaturityAndPaymentDeferralMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_ExtendedMaturityAndPaymentDeferralMember" xlink:to="lab_ms_ExtendedMaturityAndPaymentDeferralMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_TimeDepositLiabilityUninsuredMaturityOverThreeMonthsThroughSixMonths_1bc856aa-92ba-493f-94b0-64982d15c5af_terseLabel_en-US" xlink:label="lab_us-gaap_TimeDepositLiabilityUninsuredMaturityOverThreeMonthsThroughSixMonths" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> 3 - 6 months </link:label>
<link:label id="lab_us-gaap_TimeDepositLiabilityUninsuredMaturityOverThreeMonthsThroughSixMonths_label_en-US" xlink:label="lab_us-gaap_TimeDepositLiabilityUninsuredMaturityOverThreeMonthsThroughSixMonths" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Time Deposit Liability, Uninsured, Maturity, over Three Months through Six Months </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_TimeDepositLiabilityUninsuredMaturityOverThreeMonthsThroughSixMonths" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_TimeDepositLiabilityUninsuredMaturityOverThreeMonthsThroughSixMonths"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TimeDepositLiabilityUninsuredMaturityOverThreeMonthsThroughSixMonths" xlink:to="lab_us-gaap_TimeDepositLiabilityUninsuredMaturityOverThreeMonthsThroughSixMonths" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_CashAndCashEquivalentsMember_2c2e2279-b99d-439f-9f2f-e14dbd486053_terseLabel_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Cash and cash equivalents </link:label>
<link:label id="lab_us-gaap_CashAndCashEquivalentsMember_label_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Cash and Cash Equivalents [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashAndCashEquivalentsMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CashAndCashEquivalentsMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashAndCashEquivalentsMember" xlink:to="lab_us-gaap_CashAndCashEquivalentsMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_SeriesCPreferredStockMember_bc82c71c-a282-4fd4-8903-0e4dba6cf8d3_terseLabel_en-US" xlink:label="lab_us-gaap_SeriesCPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Series C </link:label>
<link:label id="lab_us-gaap_SeriesCPreferredStockMember_label_en-US" xlink:label="lab_us-gaap_SeriesCPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Series C Preferred Stock [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_SeriesCPreferredStockMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SeriesCPreferredStockMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SeriesCPreferredStockMember" xlink:to="lab_us-gaap_SeriesCPreferredStockMember" xlink:type="arc" order="1"/>
<link:label id="lab_srt_ConsolidatedEntitiesDomain_95b05d81-5ee4-4d32-8b7c-7e27184f1119_terseLabel_en-US" xlink:label="lab_srt_ConsolidatedEntitiesDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Consolidated Entities [Domain] </link:label>
<link:label id="lab_srt_ConsolidatedEntitiesDomain_label_en-US" xlink:label="lab_srt_ConsolidatedEntitiesDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Consolidated Entities [Domain] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_srt_ConsolidatedEntitiesDomain" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_ConsolidatedEntitiesDomain"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_ConsolidatedEntitiesDomain" xlink:to="lab_srt_ConsolidatedEntitiesDomain" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversal_1636d526-f66e-4a3c-a2e3-77d98333a5f6_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversal" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Provision (release) </link:label>
<link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversal_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversal" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financing Receivable, Excluding Accrued Interest, Credit Loss Expense (Reversal) </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversal" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversal"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversal" xlink:to="lab_us-gaap_FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversal" xlink:type="arc" order="1"/>
<link:label id="lab_ms_EmployeeLoansLineItems_51c8f01b-d316-47d3-afee-a390109ff2ba_terseLabel_en-US" xlink:label="lab_ms_EmployeeLoansLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Employee Loans [Line Items] </link:label>
<link:label id="lab_ms_EmployeeLoansLineItems_label_en-US" xlink:label="lab_ms_EmployeeLoansLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Employee Loans [Line Items] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_EmployeeLoansLineItems" xlink:href="ms-20231231.xsd#ms_EmployeeLoansLineItems"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_EmployeeLoansLineItems" xlink:to="lab_ms_EmployeeLoansLineItems" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_StatementBusinessSegmentsAxis_3b3c7b6e-0051-4432-8caa-98fde58ac78e_terseLabel_en-US" xlink:label="lab_us-gaap_StatementBusinessSegmentsAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Segments [Axis] </link:label>
<link:label id="lab_us-gaap_StatementBusinessSegmentsAxis_label_en-US" xlink:label="lab_us-gaap_StatementBusinessSegmentsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Segments [Axis] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementBusinessSegmentsAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_StatementBusinessSegmentsAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementBusinessSegmentsAxis" xlink:to="lab_us-gaap_StatementBusinessSegmentsAxis" xlink:type="arc" order="1"/>
<link:label id="lab_ms_HeldToMaturitySecuritiesDebtMaturitiesNextTwelveMonthsAnnualizedAverageYield_27bc2d32-0236-446e-bab4-3be4a9405551_terseLabel_en-US" xlink:label="lab_ms_HeldToMaturitySecuritiesDebtMaturitiesNextTwelveMonthsAnnualizedAverageYield" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> HTM securities: Annualized average yield, due within 1 year (as a percent) </link:label>
<link:label id="lab_ms_HeldToMaturitySecuritiesDebtMaturitiesNextTwelveMonthsAnnualizedAverageYield_label_en-US" xlink:label="lab_ms_HeldToMaturitySecuritiesDebtMaturitiesNextTwelveMonthsAnnualizedAverageYield" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Held-to-maturity Securities Debt Maturities Next Twelve Months Annualized Average Yield </link:label>
<link:label id="lab_ms_HeldToMaturitySecuritiesDebtMaturitiesNextTwelveMonthsAnnualizedAverageYield_documentation_en-US" xlink:label="lab_ms_HeldToMaturitySecuritiesDebtMaturitiesNextTwelveMonthsAnnualizedAverageYield" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Annualized average yield of Held-to-maturity securities maturing in the next fiscal year following the latest fiscal year. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_HeldToMaturitySecuritiesDebtMaturitiesNextTwelveMonthsAnnualizedAverageYield" xlink:href="ms-20231231.xsd#ms_HeldToMaturitySecuritiesDebtMaturitiesNextTwelveMonthsAnnualizedAverageYield"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_HeldToMaturitySecuritiesDebtMaturitiesNextTwelveMonthsAnnualizedAverageYield" xlink:to="lab_ms_HeldToMaturitySecuritiesDebtMaturitiesNextTwelveMonthsAnnualizedAverageYield" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract_7657aa3f-3bd4-4359-8820-78f01308c1d4_terseLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other comprehensive income (loss), net of tax: </link:label>
<link:label id="lab_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract_e854bea6-37cb-4867-9c0b-16a91a8ff8fb_verboseLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> After-tax Gain (Loss) </link:label>
<link:label id="lab_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract_label_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other Comprehensive Income (Loss), Net of Tax [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract" xlink:to="lab_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_LineOfCredit_8e6517e5-63e7-4d51-a20a-3a68fe2262c4_terseLabel_en-US" xlink:label="lab_us-gaap_LineOfCredit" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Standby letters of credit </link:label>
<link:label id="lab_us-gaap_LineOfCredit_label_en-US" xlink:label="lab_us-gaap_LineOfCredit" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Long-Term Line of Credit </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LineOfCredit" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LineOfCredit"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LineOfCredit" xlink:to="lab_us-gaap_LineOfCredit" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_CustomerRelationshipsMember_862e6324-9d47-4fdc-a50b-2370d84bd5ea_terseLabel_en-US" xlink:label="lab_us-gaap_CustomerRelationshipsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Customer relationships </link:label>
<link:label id="lab_us-gaap_CustomerRelationshipsMember_label_en-US" xlink:label="lab_us-gaap_CustomerRelationshipsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Customer Relationships [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CustomerRelationshipsMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CustomerRelationshipsMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CustomerRelationshipsMember" xlink:to="lab_us-gaap_CustomerRelationshipsMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_NetPaymentsForFinancingActivitiesAbstract_f19713e3-034a-41ef-8a35-de16fde8c717_terseLabel_en-US" xlink:label="lab_ms_NetPaymentsForFinancingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Payments for: </link:label>
<link:label id="lab_ms_NetPaymentsForFinancingActivitiesAbstract_label_en-US" xlink:label="lab_ms_NetPaymentsForFinancingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Net Payments For Financing Activities [Abstract] </link:label>
<link:label id="lab_ms_NetPaymentsForFinancingActivitiesAbstract_documentation_en-US" xlink:label="lab_ms_NetPaymentsForFinancingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Net Payments for: [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_NetPaymentsForFinancingActivitiesAbstract" xlink:href="ms-20231231.xsd#ms_NetPaymentsForFinancingActivitiesAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_NetPaymentsForFinancingActivitiesAbstract" xlink:to="lab_ms_NetPaymentsForFinancingActivitiesAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_GuaranteeObligationsCurrentCarryingValue_e2715b12-9812-47f9-b00b-2ae7dad1616b_negatedLabel_en-US" xlink:label="lab_us-gaap_GuaranteeObligationsCurrentCarryingValue" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Carrying amount: liability </link:label>
<link:label id="lab_us-gaap_GuaranteeObligationsCurrentCarryingValue_b08fd77e-c6c8-46aa-9fd8-578e5d0661d6_terseLabel_en-US" xlink:label="lab_us-gaap_GuaranteeObligationsCurrentCarryingValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Aggregate balance </link:label>
<link:label id="lab_us-gaap_GuaranteeObligationsCurrentCarryingValue_label_en-US" xlink:label="lab_us-gaap_GuaranteeObligationsCurrentCarryingValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Guarantor Obligations, Current Carrying Value </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_GuaranteeObligationsCurrentCarryingValue" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_GuaranteeObligationsCurrentCarryingValue"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GuaranteeObligationsCurrentCarryingValue" xlink:to="lab_us-gaap_GuaranteeObligationsCurrentCarryingValue" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FinancialInstrumentsOwnedAndPledgedAsCollateralLineItems_2b6404b2-cbe2-4580-8d8f-1b91c5d2b210_terseLabel_en-US" xlink:label="lab_us-gaap_FinancialInstrumentsOwnedAndPledgedAsCollateralLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financial Instruments Owned and Pledged as Collateral [Line Items] </link:label>
<link:label id="lab_us-gaap_FinancialInstrumentsOwnedAndPledgedAsCollateralLineItems_label_en-US" xlink:label="lab_us-gaap_FinancialInstrumentsOwnedAndPledgedAsCollateralLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financial Instruments Owned and Pledged as Collateral [Line Items] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancialInstrumentsOwnedAndPledgedAsCollateralLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FinancialInstrumentsOwnedAndPledgedAsCollateralLineItems"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancialInstrumentsOwnedAndPledgedAsCollateralLineItems" xlink:to="lab_us-gaap_FinancialInstrumentsOwnedAndPledgedAsCollateralLineItems" xlink:type="arc" order="1"/>
<link:label id="lab_ms_AOCIDebtValuationAdjustmentIncludingNoncontrollingInterestMember_5815358e-ae06-4599-a9ab-d2b6a223091e_terseLabel_en-US" xlink:label="lab_ms_AOCIDebtValuationAdjustmentIncludingNoncontrollingInterestMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Change in Net DVA Including Noncontrolling Interest </link:label>
<link:label id="lab_ms_AOCIDebtValuationAdjustmentIncludingNoncontrollingInterestMember_label_en-US" xlink:label="lab_ms_AOCIDebtValuationAdjustmentIncludingNoncontrollingInterestMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> AOCI, Debt Valuation Adjustment, Including Noncontrolling Interest [Member] </link:label>
<link:label id="lab_ms_AOCIDebtValuationAdjustmentIncludingNoncontrollingInterestMember_documentation_en-US" xlink:label="lab_ms_AOCIDebtValuationAdjustmentIncludingNoncontrollingInterestMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> AOCI, Debt Valuation Adjustment, Including Noncontrolling Interest </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_AOCIDebtValuationAdjustmentIncludingNoncontrollingInterestMember" xlink:href="ms-20231231.xsd#ms_AOCIDebtValuationAdjustmentIncludingNoncontrollingInterestMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_AOCIDebtValuationAdjustmentIncludingNoncontrollingInterestMember" xlink:to="lab_ms_AOCIDebtValuationAdjustmentIncludingNoncontrollingInterestMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_AuditorInformationAbstract_label_en-US" xlink:label="lab_ms_AuditorInformationAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Auditor Information [Abstract] </link:label>
<link:label id="lab_ms_AuditorInformationAbstract_documentation_en-US" xlink:label="lab_ms_AuditorInformationAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Auditor Information </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_AuditorInformationAbstract" xlink:href="ms-20231231.xsd#ms_AuditorInformationAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_AuditorInformationAbstract" xlink:to="lab_ms_AuditorInformationAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsConversionsInPeriodWeightedAverageGrantDateFairValue_9bd9ed63-8808-4a39-9e40-6acdbbe63023_terseLabel_en-US" xlink:label="lab_ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsConversionsInPeriodWeightedAverageGrantDateFairValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Conversions to common stock (in dollars per share) </link:label>
<link:label id="lab_ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsConversionsInPeriodWeightedAverageGrantDateFairValue_label_en-US" xlink:label="lab_ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsConversionsInPeriodWeightedAverageGrantDateFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Conversions in Period, Weighted Average Grant Date Fair Value </link:label>
<link:label id="lab_ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsConversionsInPeriodWeightedAverageGrantDateFairValue_documentation_en-US" xlink:label="lab_ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsConversionsInPeriodWeightedAverageGrantDateFairValue" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested and Unvested, Conversions in Period, Weighted Average Grant Date Fair Value </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsConversionsInPeriodWeightedAverageGrantDateFairValue" xlink:href="ms-20231231.xsd#ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsConversionsInPeriodWeightedAverageGrantDateFairValue"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsConversionsInPeriodWeightedAverageGrantDateFairValue" xlink:to="lab_ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsConversionsInPeriodWeightedAverageGrantDateFairValue" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestRevolving_79b7a0c9-bce6-4cac-add2-598383b82ec3_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestRevolving" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Revolving </link:label>
<link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestRevolving_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestRevolving" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financing Receivable, Excluding Accrued Interest, Revolving </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableExcludingAccruedInterestRevolving" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FinancingReceivableExcludingAccruedInterestRevolving"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableExcludingAccruedInterestRevolving" xlink:to="lab_us-gaap_FinancingReceivableExcludingAccruedInterestRevolving" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DeferredIncomeTaxesAndTaxCredits_25221b17-f919-4249-9fa0-a162f6e25d77_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredIncomeTaxesAndTaxCredits" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Deferred income taxes </link:label>
<link:label id="lab_us-gaap_DeferredIncomeTaxesAndTaxCredits_label_en-US" xlink:label="lab_us-gaap_DeferredIncomeTaxesAndTaxCredits" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Deferred Income Taxes and Tax Credits </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredIncomeTaxesAndTaxCredits" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DeferredIncomeTaxesAndTaxCredits"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredIncomeTaxesAndTaxCredits" xlink:to="lab_us-gaap_DeferredIncomeTaxesAndTaxCredits" xlink:type="arc" order="1"/>
<link:label id="lab_srt_ConsolidatedEntitiesAxis_38b6009b-4de9-4402-a09a-5f60dc46ab8a_terseLabel_en-US" xlink:label="lab_srt_ConsolidatedEntitiesAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Consolidated Entities [Axis] </link:label>
<link:label id="lab_srt_ConsolidatedEntitiesAxis_label_en-US" xlink:label="lab_srt_ConsolidatedEntitiesAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Consolidated Entities [Axis] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_srt_ConsolidatedEntitiesAxis" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_ConsolidatedEntitiesAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_ConsolidatedEntitiesAxis" xlink:to="lab_srt_ConsolidatedEntitiesAxis" xlink:type="arc" order="1"/>
<link:label id="lab_dei_EntityVoluntaryFilers_479fedd7-a93c-4114-b273-6d4d8cbd5ccd_terseLabel_en-US" xlink:label="lab_dei_EntityVoluntaryFilers" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Entity Voluntary Filers </link:label>
<link:label id="lab_dei_EntityVoluntaryFilers_label_en-US" xlink:label="lab_dei_EntityVoluntaryFilers" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Entity Voluntary Filers </link:label>
<link:loc xlink:type="locator" xlink:label="loc_dei_EntityVoluntaryFilers" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityVoluntaryFilers"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityVoluntaryFilers" xlink:to="lab_dei_EntityVoluntaryFilers" xlink:type="arc" order="1"/>
<link:label id="lab_ms_InterestIncomeTradingAssetsNetOfTradingLiabilities_78c08f86-2f9d-4881-960f-8b059c28aa20_terseLabel_en-US" xlink:label="lab_ms_InterestIncomeTradingAssetsNetOfTradingLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Trading assets, net of Trading liabilities </link:label>
<link:label id="lab_ms_InterestIncomeTradingAssetsNetOfTradingLiabilities_label_en-US" xlink:label="lab_ms_InterestIncomeTradingAssetsNetOfTradingLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Interest Income, Trading Assets Net of Trading Liabilities </link:label>
<link:label id="lab_ms_InterestIncomeTradingAssetsNetOfTradingLiabilities_documentation_en-US" xlink:label="lab_ms_InterestIncomeTradingAssetsNetOfTradingLiabilities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Interest income earned on instruments and other positions owned by the entity that are for trading purposes, offset by interest expense incurred on trading liabilities. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_InterestIncomeTradingAssetsNetOfTradingLiabilities" xlink:href="ms-20231231.xsd#ms_InterestIncomeTradingAssetsNetOfTradingLiabilities"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_InterestIncomeTradingAssetsNetOfTradingLiabilities" xlink:to="lab_ms_InterestIncomeTradingAssetsNetOfTradingLiabilities" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_PreferredStockLiquidationPreference_0c042662-ba2e-4c22-9634-5c83bbf82c58_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockLiquidationPreference" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Liquidation preference per share (in dollars per share) </link:label>
<link:label id="lab_us-gaap_PreferredStockLiquidationPreference_label_en-US" xlink:label="lab_us-gaap_PreferredStockLiquidationPreference" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Preferred Stock, Liquidation Preference Per Share </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_PreferredStockLiquidationPreference" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PreferredStockLiquidationPreference"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PreferredStockLiquidationPreference" xlink:to="lab_us-gaap_PreferredStockLiquidationPreference" xlink:type="arc" order="1"/>
<link:label id="lab_ms_TradingAssetSubjectToMasterNettingArrangementAssetOffset_ec021497-187f-4227-b9af-d4903d89de5f_terseLabel_en-US" xlink:label="lab_ms_TradingAssetSubjectToMasterNettingArrangementAssetOffset" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Offset of other secured financing liabilities against trade assets </link:label>
<link:label id="lab_ms_TradingAssetSubjectToMasterNettingArrangementAssetOffset_label_en-US" xlink:label="lab_ms_TradingAssetSubjectToMasterNettingArrangementAssetOffset" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Trading Asset, Subject to Master Netting Arrangement, Asset Offset </link:label>
<link:label id="lab_ms_TradingAssetSubjectToMasterNettingArrangementAssetOffset_documentation_en-US" xlink:label="lab_ms_TradingAssetSubjectToMasterNettingArrangementAssetOffset" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Trading Asset, Subject to Master Netting Arrangement, Asset Offset </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_TradingAssetSubjectToMasterNettingArrangementAssetOffset" xlink:href="ms-20231231.xsd#ms_TradingAssetSubjectToMasterNettingArrangementAssetOffset"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_TradingAssetSubjectToMasterNettingArrangementAssetOffset" xlink:to="lab_ms_TradingAssetSubjectToMasterNettingArrangementAssetOffset" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DerivativeFairValueOfDerivativeNetAbstract_1a1dd94e-232d-47df-b05b-e04b34d5af7b_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeFairValueOfDerivativeNetAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivatives, Fair Value </link:label>
<link:label id="lab_us-gaap_DerivativeFairValueOfDerivativeNetAbstract_label_en-US" xlink:label="lab_us-gaap_DerivativeFairValueOfDerivativeNetAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative, Fair Value, Net [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeFairValueOfDerivativeNetAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DerivativeFairValueOfDerivativeNetAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeFairValueOfDerivativeNetAbstract" xlink:to="lab_us-gaap_DerivativeFairValueOfDerivativeNetAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_cb378576-db40-48cb-a8ea-179d2fdbe7dc_periodStartLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Unvested RSUs at beginning of period (in shares) </link:label>
<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_80cb6a90-8a72-4288-887f-6d06c12a1790_periodEndLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Unvested RSUs at end of period (in shares) </link:label>
<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" xlink:type="arc" order="1"/>
<link:label id="lab_ms_BankingRegulationCountercyclicalCapitalBufferAdvanced_f6fab166-0b81-4e20-867a-971f4d56322e_terseLabel_en-US" xlink:label="lab_ms_BankingRegulationCountercyclicalCapitalBufferAdvanced" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Advanced (as a percent) </link:label>
<link:label id="lab_ms_BankingRegulationCountercyclicalCapitalBufferAdvanced_label_en-US" xlink:label="lab_ms_BankingRegulationCountercyclicalCapitalBufferAdvanced" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Banking Regulation, Countercyclical Capital Buffer, Advanced </link:label>
<link:label id="lab_ms_BankingRegulationCountercyclicalCapitalBufferAdvanced_documentation_en-US" xlink:label="lab_ms_BankingRegulationCountercyclicalCapitalBufferAdvanced" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Banking Regulation, Countercyclical Capital Buffer, Advanced </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_BankingRegulationCountercyclicalCapitalBufferAdvanced" xlink:href="ms-20231231.xsd#ms_BankingRegulationCountercyclicalCapitalBufferAdvanced"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_BankingRegulationCountercyclicalCapitalBufferAdvanced" xlink:to="lab_ms_BankingRegulationCountercyclicalCapitalBufferAdvanced" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DebtDisclosureTextBlock_f31a9b5b-051d-478e-bb60-5912560455bf_terseLabel_en-US" xlink:label="lab_us-gaap_DebtDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Borrowings and Other Secured Financings </link:label>
<link:label id="lab_us-gaap_DebtDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_DebtDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt Disclosure [Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DebtDisclosureTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtDisclosureTextBlock" xlink:to="lab_us-gaap_DebtDisclosureTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_ms_CorporateandOtherDebtSecuritiesMember_64062d75-6d44-49d2-83bb-12591b607101_terseLabel_en-US" xlink:label="lab_ms_CorporateandOtherDebtSecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Corporate and other debt </link:label>
<link:label id="lab_ms_CorporateandOtherDebtSecuritiesMember_label_en-US" xlink:label="lab_ms_CorporateandOtherDebtSecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Corporate and Other Debt Securities [Member] </link:label>
<link:label id="lab_ms_CorporateandOtherDebtSecuritiesMember_documentation_en-US" xlink:label="lab_ms_CorporateandOtherDebtSecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Corporate and Other Debt Securities [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_CorporateandOtherDebtSecuritiesMember" xlink:href="ms-20231231.xsd#ms_CorporateandOtherDebtSecuritiesMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_CorporateandOtherDebtSecuritiesMember" xlink:to="lab_ms_CorporateandOtherDebtSecuritiesMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_StatementOfStockholdersEquityAbstract_adeee130-3a8a-48f0-abb7-51f22f7487a6_terseLabel_en-US" xlink:label="lab_us-gaap_StatementOfStockholdersEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Statement of Stockholders' Equity [Abstract] </link:label>
<link:label id="lab_us-gaap_StatementOfStockholdersEquityAbstract_label_en-US" xlink:label="lab_us-gaap_StatementOfStockholdersEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Statement of Stockholders' Equity [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementOfStockholdersEquityAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_StatementOfStockholdersEquityAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementOfStockholdersEquityAbstract" xlink:to="lab_us-gaap_StatementOfStockholdersEquityAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_ms_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossesOther_1dc09485-dbe8-4e2f-a93b-9a9dcc2ef29c_negatedTerseLabel_en-US" xlink:label="lab_ms_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossesOther" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other </link:label>
<link:label id="lab_ms_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossesOther_label_en-US" xlink:label="lab_ms_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossesOther" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financing Receivable, Excluding Accrued Interest, Allowance for Credit Losses, Other </link:label>
<link:label id="lab_ms_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossesOther_documentation_en-US" xlink:label="lab_ms_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossesOther" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Amount of other addition (reduction) in allowance reserve for credit loss. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossesOther" xlink:href="ms-20231231.xsd#ms_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossesOther"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossesOther" xlink:to="lab_ms_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossesOther" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_SecuritiesLoanedAsset_e6e41e94-9e9c-4aab-8282-71eebddd4cd0_negatedLabel_en-US" xlink:label="lab_us-gaap_SecuritiesLoanedAsset" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Amounts Offset </link:label>
<link:label id="lab_us-gaap_SecuritiesLoanedAsset_label_en-US" xlink:label="lab_us-gaap_SecuritiesLoanedAsset" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Security Loaned, Subject to Master Netting Arrangement, Asset Offset </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_SecuritiesLoanedAsset" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SecuritiesLoanedAsset"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SecuritiesLoanedAsset" xlink:to="lab_us-gaap_SecuritiesLoanedAsset" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract_9f8c29de-1309-4e4f-8fdb-b37c6cd9f649_terseLabel_en-US" xlink:label="lab_us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Investments, Debt and Equity Securities [Abstract] </link:label>
<link:label id="lab_us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract_label_en-US" xlink:label="lab_us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Investments, Debt and Equity Securities [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract" xlink:to="lab_us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_ms_MinimumTier1SLRRequirementPercent_1dfc3146-9957-4137-91c3-038e8b182ce5_terseLabel_en-US" xlink:label="lab_ms_MinimumTier1SLRRequirementPercent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Minimum Tier 1 SLR requirement (as a percent) </link:label>
<link:label id="lab_ms_MinimumTier1SLRRequirementPercent_label_en-US" xlink:label="lab_ms_MinimumTier1SLRRequirementPercent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Minimum Tier 1 SLR Requirement, Percent </link:label>
<link:label id="lab_ms_MinimumTier1SLRRequirementPercent_documentation_en-US" xlink:label="lab_ms_MinimumTier1SLRRequirementPercent" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Minimum Tier 1 SLR Requirement, Percent </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_MinimumTier1SLRRequirementPercent" xlink:href="ms-20231231.xsd#ms_MinimumTier1SLRRequirementPercent"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_MinimumTier1SLRRequirementPercent" xlink:to="lab_ms_MinimumTier1SLRRequirementPercent" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract_label_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Equity Method Investments and Joint Ventures [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract" xlink:to="lab_us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_SegmentReportingAbstract_6fccb876-4720-4ac9-a722-bc1a5fa731b2_terseLabel_en-US" xlink:label="lab_us-gaap_SegmentReportingAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Segment Reporting [Abstract] </link:label>
<link:label id="lab_us-gaap_SegmentReportingAbstract_label_en-US" xlink:label="lab_us-gaap_SegmentReportingAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Segment Reporting [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_SegmentReportingAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SegmentReportingAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SegmentReportingAbstract" xlink:to="lab_us-gaap_SegmentReportingAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_ms_WealthManagementSegmentMember_155a66a1-5f58-4d16-b5b5-9e15be3b9af1_terseLabel_en-US" xlink:label="lab_ms_WealthManagementSegmentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> WM </link:label>
<link:label id="lab_ms_WealthManagementSegmentMember_c580d95e-c9e7-4a1e-894a-c38b0f04fced_verboseLabel_en-US" xlink:label="lab_ms_WealthManagementSegmentMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Wealth Management </link:label>
<link:label id="lab_ms_WealthManagementSegmentMember_label_en-US" xlink:label="lab_ms_WealthManagementSegmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Wealth Management Segment [Member] </link:label>
<link:label id="lab_ms_WealthManagementSegmentMember_documentation_en-US" xlink:label="lab_ms_WealthManagementSegmentMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Wealth Management business segment. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_WealthManagementSegmentMember" xlink:href="ms-20231231.xsd#ms_WealthManagementSegmentMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_WealthManagementSegmentMember" xlink:to="lab_ms_WealthManagementSegmentMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_GeneralPartnerGuaranteeMember_d7a068c5-86e0-4888-a6b9-f135d9e5de1a_terseLabel_en-US" xlink:label="lab_ms_GeneralPartnerGuaranteeMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> General partner guarantees </link:label>
<link:label id="lab_ms_GeneralPartnerGuaranteeMember_label_en-US" xlink:label="lab_ms_GeneralPartnerGuaranteeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> General Partner Guarantee [Member] </link:label>
<link:label id="lab_ms_GeneralPartnerGuaranteeMember_documentation_en-US" xlink:label="lab_ms_GeneralPartnerGuaranteeMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> General Partner Guarantee </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_GeneralPartnerGuaranteeMember" xlink:href="ms-20231231.xsd#ms_GeneralPartnerGuaranteeMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_GeneralPartnerGuaranteeMember" xlink:to="lab_ms_GeneralPartnerGuaranteeMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_CollateralizedDebtObligationsMember_e7944414-4794-4d0b-bd1b-55739fcafd6b_terseLabel_en-US" xlink:label="lab_us-gaap_CollateralizedDebtObligationsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> CDO </link:label>
<link:label id="lab_us-gaap_CollateralizedDebtObligationsMember_97afdb48-5595-48be-834b-455363fb9fca_verboseLabel_en-US" xlink:label="lab_us-gaap_CollateralizedDebtObligationsMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Corporate and other debt—CDO </link:label>
<link:label id="lab_us-gaap_CollateralizedDebtObligationsMember_label_en-US" xlink:label="lab_us-gaap_CollateralizedDebtObligationsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Collateralized Debt Obligations [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CollateralizedDebtObligationsMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CollateralizedDebtObligationsMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CollateralizedDebtObligationsMember" xlink:to="lab_us-gaap_CollateralizedDebtObligationsMember" xlink:type="arc" order="1"/>
<link:label id="lab_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_6936ecc4-3ba4-4c65-987f-65f8fd5e773d_terseLabel_en-US" xlink:label="lab_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Investment, Name [Axis] </link:label>
<link:label id="lab_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_label_en-US" xlink:label="lab_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Investment, Name [Axis] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis" xlink:to="lab_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_SecuritiesSoldUnderAgreementsToRepurchase_1935840d-fe43-4f96-8316-668997bf8f07_terseLabel_en-US" xlink:label="lab_us-gaap_SecuritiesSoldUnderAgreementsToRepurchase" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Securities sold under agreements to repurchase (includes $1,020 and $864 at fair value) </link:label>
<link:label id="lab_us-gaap_SecuritiesSoldUnderAgreementsToRepurchase_1e308ccf-942c-444e-9d81-75da8a762a30_verboseLabel_en-US" xlink:label="lab_us-gaap_SecuritiesSoldUnderAgreementsToRepurchase" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Securities sold under agreements to repurchase from affiliates </link:label>
<link:label id="lab_us-gaap_SecuritiesSoldUnderAgreementsToRepurchase_f2657f6b-10cf-4b1f-bcdb-299a63901c0b_totalLabel_en-US" xlink:label="lab_us-gaap_SecuritiesSoldUnderAgreementsToRepurchase" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Balance Sheet Net Amounts </link:label>
<link:label id="lab_us-gaap_SecuritiesSoldUnderAgreementsToRepurchase_label_en-US" xlink:label="lab_us-gaap_SecuritiesSoldUnderAgreementsToRepurchase" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Securities Sold under Agreements to Repurchase </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_SecuritiesSoldUnderAgreementsToRepurchase" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SecuritiesSoldUnderAgreementsToRepurchase"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SecuritiesSoldUnderAgreementsToRepurchase" xlink:to="lab_us-gaap_SecuritiesSoldUnderAgreementsToRepurchase" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_MeasurementInputCreditSpreadMember_d6aa8aa2-7a23-4759-ab87-deffab91d8af_terseLabel_en-US" xlink:label="lab_us-gaap_MeasurementInputCreditSpreadMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Credit Spread </link:label>
<link:label id="lab_us-gaap_MeasurementInputCreditSpreadMember_label_en-US" xlink:label="lab_us-gaap_MeasurementInputCreditSpreadMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Measurement Input, Credit Spread [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_MeasurementInputCreditSpreadMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_MeasurementInputCreditSpreadMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MeasurementInputCreditSpreadMember" xlink:to="lab_us-gaap_MeasurementInputCreditSpreadMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_3073441e-e6e2-4c77-9e55-507c0318dcca_terseLabel_en-US" xlink:label="lab_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> U.S. federal statutory income tax rate </link:label>
<link:label id="lab_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_label_en-US" xlink:label="lab_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate" xlink:to="lab_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_CommitmentsAndContingencies_34cd9ca3-148a-40a6-aa5c-460d8d53fa53_terseLabel_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingencies" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Commitments and contingent liabilities (see Note 14) </link:label>
<link:label id="lab_us-gaap_CommitmentsAndContingencies_label_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingencies" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Commitments and Contingencies </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommitmentsAndContingencies" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CommitmentsAndContingencies"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommitmentsAndContingencies" xlink:to="lab_us-gaap_CommitmentsAndContingencies" xlink:type="arc" order="1"/>
<link:label id="lab_ms_AccountingStandardsUpdate201712Abstract_f9618ed6-1040-43a0-b587-93e7cd7f69ed_terseLabel_en-US" xlink:label="lab_ms_AccountingStandardsUpdate201712Abstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value Hedges - Hedged Items </link:label>
<link:label id="lab_ms_AccountingStandardsUpdate201712Abstract_label_en-US" xlink:label="lab_ms_AccountingStandardsUpdate201712Abstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Accounting Standards Update 2017-12 [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_AccountingStandardsUpdate201712Abstract" xlink:href="ms-20231231.xsd#ms_AccountingStandardsUpdate201712Abstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_AccountingStandardsUpdate201712Abstract" xlink:to="lab_ms_AccountingStandardsUpdate201712Abstract" xlink:type="arc" order="1"/>
<link:label id="lab_ms_ScheduleOfNonConsolidatedVariableInterestEntitiesTableTextBlock_6fe034e0-11ae-498c-83ce-5d0b5e55b4f9_verboseLabel_en-US" xlink:label="lab_ms_ScheduleOfNonConsolidatedVariableInterestEntitiesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Non-Consolidated VIEs </link:label>
<link:label id="lab_ms_ScheduleOfNonConsolidatedVariableInterestEntitiesTableTextBlock_label_en-US" xlink:label="lab_ms_ScheduleOfNonConsolidatedVariableInterestEntitiesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Non-Consolidated Variable Interest Entities [Table Text Block] </link:label>
<link:label id="lab_ms_ScheduleOfNonConsolidatedVariableInterestEntitiesTableTextBlock_documentation_en-US" xlink:label="lab_ms_ScheduleOfNonConsolidatedVariableInterestEntitiesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Non-Consolidated Variable Interest Entities. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_ScheduleOfNonConsolidatedVariableInterestEntitiesTableTextBlock" xlink:href="ms-20231231.xsd#ms_ScheduleOfNonConsolidatedVariableInterestEntitiesTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_ScheduleOfNonConsolidatedVariableInterestEntitiesTableTextBlock" xlink:to="lab_ms_ScheduleOfNonConsolidatedVariableInterestEntitiesTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ForeignPlanMember_56939acd-514c-42c2-a043-966ef84497b7_terseLabel_en-US" xlink:label="lab_us-gaap_ForeignPlanMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Non-U.S. Defined Contribution Pension Plans </link:label>
<link:label id="lab_us-gaap_ForeignPlanMember_label_en-US" xlink:label="lab_us-gaap_ForeignPlanMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Foreign Plan [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ForeignPlanMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ForeignPlanMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ForeignPlanMember" xlink:to="lab_us-gaap_ForeignPlanMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_LoansAndLendingCommitments_49a6f3bf-f6ab-4605-8a50-353a96e4ec19_terseLabel_en-US" xlink:label="lab_ms_LoansAndLendingCommitments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Lending commitments </link:label>
<link:label id="lab_ms_LoansAndLendingCommitments_label_en-US" xlink:label="lab_ms_LoansAndLendingCommitments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Loans and Lending Commitments </link:label>
<link:label id="lab_ms_LoansAndLendingCommitments_documentation_en-US" xlink:label="lab_ms_LoansAndLendingCommitments" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Loans and lending commitments are mainly related to relationship-based and event-driven lending to select corporate clients. Relationship-based loans and lending commitments are used for general corporate purposes, working capital and liquidity purposes by our investment banking clients and typically consist of revolving lines of credit, letter of credit facilities and term loans. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_LoansAndLendingCommitments" xlink:href="ms-20231231.xsd#ms_LoansAndLendingCommitments"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_LoansAndLendingCommitments" xlink:to="lab_ms_LoansAndLendingCommitments" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFive_04e362ec-683d-4a51-9345-e7c033495e1f_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFive" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> 2028 </link:label>
<link:label id="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFive_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFive" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Defined Benefit Plan, Expected Future Benefit Payment, Year Five </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFive" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFive"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFive" xlink:to="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFive" xlink:type="arc" order="1"/>
<link:label id="lab_ms_BankingRegulationTotalRiskBasedCapitalRatioCapitalAdequacyMinimumAdvanced_5e31760a-fedc-46a5-b6a6-37905075f2a3_terseLabel_en-US" xlink:label="lab_ms_BankingRegulationTotalRiskBasedCapitalRatioCapitalAdequacyMinimumAdvanced" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Advanced (as a percent) </link:label>
<link:label id="lab_ms_BankingRegulationTotalRiskBasedCapitalRatioCapitalAdequacyMinimumAdvanced_label_en-US" xlink:label="lab_ms_BankingRegulationTotalRiskBasedCapitalRatioCapitalAdequacyMinimumAdvanced" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Banking Regulation, Total Risk-Based Capital Ratio, Capital Adequacy, Minimum, Advanced </link:label>
<link:label id="lab_ms_BankingRegulationTotalRiskBasedCapitalRatioCapitalAdequacyMinimumAdvanced_documentation_en-US" xlink:label="lab_ms_BankingRegulationTotalRiskBasedCapitalRatioCapitalAdequacyMinimumAdvanced" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Banking Regulation, Total Risk-Based Capital Ratio, Capital Adequacy, Minimum, Advanced </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_BankingRegulationTotalRiskBasedCapitalRatioCapitalAdequacyMinimumAdvanced" xlink:href="ms-20231231.xsd#ms_BankingRegulationTotalRiskBasedCapitalRatioCapitalAdequacyMinimumAdvanced"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_BankingRegulationTotalRiskBasedCapitalRatioCapitalAdequacyMinimumAdvanced" xlink:to="lab_ms_BankingRegulationTotalRiskBasedCapitalRatioCapitalAdequacyMinimumAdvanced" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_RevenueRecognitionPolicyTextBlock_5fe7180c-22c9-4815-bfaa-e7616b41bb4d_terseLabel_en-US" xlink:label="lab_us-gaap_RevenueRecognitionPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Revenue Recognition </link:label>
<link:label id="lab_us-gaap_RevenueRecognitionPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_RevenueRecognitionPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Revenue [Policy Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_RevenueRecognitionPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_RevenueRecognitionPolicyTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RevenueRecognitionPolicyTextBlock" xlink:to="lab_us-gaap_RevenueRecognitionPolicyTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DerivativeFairValueOfDerivativeLiability_31b2e19b-1fdc-4e5b-9e22-02a70954605b_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeFairValueOfDerivativeLiability" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative liabilities recognized in the balance sheet </link:label>
<link:label id="lab_us-gaap_DerivativeFairValueOfDerivativeLiability_label_en-US" xlink:label="lab_us-gaap_DerivativeFairValueOfDerivativeLiability" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative Liability, Subject to Master Netting Arrangement, before Offset </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeFairValueOfDerivativeLiability" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DerivativeFairValueOfDerivativeLiability"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeFairValueOfDerivativeLiability" xlink:to="lab_us-gaap_DerivativeFairValueOfDerivativeLiability" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FairValueOptionQuantitativeDisclosuresTextBlock_a987a466-0a3b-4e89-8802-9be2bf9fffa6_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueOptionQuantitativeDisclosuresTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Fair Value Option </link:label>
<link:label id="lab_us-gaap_FairValueOptionQuantitativeDisclosuresTextBlock_label_en-US" xlink:label="lab_us-gaap_FairValueOptionQuantitativeDisclosuresTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value Option, Disclosures [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueOptionQuantitativeDisclosuresTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueOptionQuantitativeDisclosuresTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueOptionQuantitativeDisclosuresTextBlock" xlink:to="lab_us-gaap_FairValueOptionQuantitativeDisclosuresTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_ms_FederalFundsSoldAndSecuritiesPurchasedUnderAgreementsToResellWithAffiliate_11dc6bc5-c24d-43b9-b9b2-d89c6e685f0c_terseLabel_en-US" xlink:label="lab_ms_FederalFundsSoldAndSecuritiesPurchasedUnderAgreementsToResellWithAffiliate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Securities purchased under agreement to resell to affiliates </link:label>
<link:label id="lab_ms_FederalFundsSoldAndSecuritiesPurchasedUnderAgreementsToResellWithAffiliate_label_en-US" xlink:label="lab_ms_FederalFundsSoldAndSecuritiesPurchasedUnderAgreementsToResellWithAffiliate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Federal Funds Sold and Securities Purchased under Agreements to Resell with Affiliate </link:label>
<link:label id="lab_ms_FederalFundsSoldAndSecuritiesPurchasedUnderAgreementsToResellWithAffiliate_documentation_en-US" xlink:label="lab_ms_FederalFundsSoldAndSecuritiesPurchasedUnderAgreementsToResellWithAffiliate" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Federal funds sold and securities purchased under agreements to resell with affiliate. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_FederalFundsSoldAndSecuritiesPurchasedUnderAgreementsToResellWithAffiliate" xlink:href="ms-20231231.xsd#ms_FederalFundsSoldAndSecuritiesPurchasedUnderAgreementsToResellWithAffiliate"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_FederalFundsSoldAndSecuritiesPurchasedUnderAgreementsToResellWithAffiliate" xlink:to="lab_ms_FederalFundsSoldAndSecuritiesPurchasedUnderAgreementsToResellWithAffiliate" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_GoodwillRollForward_b86bdb85-6a93-4871-a637-86bb3123faeb_terseLabel_en-US" xlink:label="lab_us-gaap_GoodwillRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Goodwill Roll Forward </link:label>
<link:label id="lab_us-gaap_GoodwillRollForward_label_en-US" xlink:label="lab_us-gaap_GoodwillRollForward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Goodwill [Roll Forward] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_GoodwillRollForward" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_GoodwillRollForward"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GoodwillRollForward" xlink:to="lab_us-gaap_GoodwillRollForward" xlink:type="arc" order="1"/>
<link:label id="lab_ms_DebttoValueRatioLessthanorEqualto80PercentMember_350ad6c9-2a8c-4c02-8750-4cea7a02bb63_terseLabel_en-US" xlink:label="lab_ms_DebttoValueRatioLessthanorEqualto80PercentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Less than or equal to 80% </link:label>
<link:label id="lab_ms_DebttoValueRatioLessthanorEqualto80PercentMember_label_en-US" xlink:label="lab_ms_DebttoValueRatioLessthanorEqualto80PercentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt-to-Value Ratio, Less than or Equal to 80 Percent [Member] </link:label>
<link:label id="lab_ms_DebttoValueRatioLessthanorEqualto80PercentMember_documentation_en-US" xlink:label="lab_ms_DebttoValueRatioLessthanorEqualto80PercentMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt-to-Value Ratio, Less than or Equal to 80 Percent [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_DebttoValueRatioLessthanorEqualto80PercentMember" xlink:href="ms-20231231.xsd#ms_DebttoValueRatioLessthanorEqualto80PercentMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_DebttoValueRatioLessthanorEqualto80PercentMember" xlink:to="lab_ms_DebttoValueRatioLessthanorEqualto80PercentMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_CumulativeForeignCurrencyTranslationAdjustmentsFromNetInvestmentAndNetInvestmentHedgesTableTextBlock_9a0843ad-8529-44ac-8fd4-134e17e8419a_terseLabel_en-US" xlink:label="lab_ms_CumulativeForeignCurrencyTranslationAdjustmentsFromNetInvestmentAndNetInvestmentHedgesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Cumulative Foreign Currency Translation Adjustments </link:label>
<link:label id="lab_ms_CumulativeForeignCurrencyTranslationAdjustmentsFromNetInvestmentAndNetInvestmentHedgesTableTextBlock_label_en-US" xlink:label="lab_ms_CumulativeForeignCurrencyTranslationAdjustmentsFromNetInvestmentAndNetInvestmentHedgesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Cumulative Foreign Currency Translation Adjustments from Net Investment and Net Investment Hedges [Table Text Block] </link:label>
<link:label id="lab_ms_CumulativeForeignCurrencyTranslationAdjustmentsFromNetInvestmentAndNetInvestmentHedgesTableTextBlock_documentation_en-US" xlink:label="lab_ms_CumulativeForeignCurrencyTranslationAdjustmentsFromNetInvestmentAndNetInvestmentHedgesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Tabular disclosure of cumulative foreign currency translation adjustments from translating foreign currency financial statements from their respective functional currencies to the entity's reporting currency, and from gains and losses from hedges of the entity's net investments in foreign functional currency subsidiaries. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_CumulativeForeignCurrencyTranslationAdjustmentsFromNetInvestmentAndNetInvestmentHedgesTableTextBlock" xlink:href="ms-20231231.xsd#ms_CumulativeForeignCurrencyTranslationAdjustmentsFromNetInvestmentAndNetInvestmentHedgesTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_CumulativeForeignCurrencyTranslationAdjustmentsFromNetInvestmentAndNetInvestmentHedgesTableTextBlock" xlink:to="lab_ms_CumulativeForeignCurrencyTranslationAdjustmentsFromNetInvestmentAndNetInvestmentHedgesTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock_b801db51-c91c-46ff-bd3e-1253ffa4e948_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Fair Value of Plan Assets </link:label>
<link:label id="lab_us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Allocation of Plan Assets [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock" xlink:to="lab_us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_TreasuryStockCommonShares_a7c26c72-c190-4287-ad78-9448e8689e1a_terseLabel_en-US" xlink:label="lab_us-gaap_TreasuryStockCommonShares" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Treasury stock (in shares) </link:label>
<link:label id="lab_us-gaap_TreasuryStockCommonShares_label_en-US" xlink:label="lab_us-gaap_TreasuryStockCommonShares" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Treasury Stock, Common, Shares </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_TreasuryStockCommonShares" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_TreasuryStockCommonShares"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TreasuryStockCommonShares" xlink:to="lab_us-gaap_TreasuryStockCommonShares" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_TrustForBenefitOfEmployeesMember_73ec793d-3e4b-4f08-ae69-04ccba297196_terseLabel_en-US" xlink:label="lab_us-gaap_TrustForBenefitOfEmployeesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Employee Stock Trusts </link:label>
<link:label id="lab_us-gaap_TrustForBenefitOfEmployeesMember_label_en-US" xlink:label="lab_us-gaap_TrustForBenefitOfEmployeesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Trust for Benefit of Employees [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_TrustForBenefitOfEmployeesMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_TrustForBenefitOfEmployeesMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TrustForBenefitOfEmployeesMember" xlink:to="lab_us-gaap_TrustForBenefitOfEmployeesMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_AdvancesToSubsidiariesBankAndBankHoldingCompany_3982b50e-405f-42dc-bcc6-dc12bb9e3b51_terseLabel_en-US" xlink:label="lab_ms_AdvancesToSubsidiariesBankAndBankHoldingCompany" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Bank and BHC </link:label>
<link:label id="lab_ms_AdvancesToSubsidiariesBankAndBankHoldingCompany_label_en-US" xlink:label="lab_ms_AdvancesToSubsidiariesBankAndBankHoldingCompany" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Advances to Subsidiaries Bank and Bank Holding Company </link:label>
<link:label id="lab_ms_AdvancesToSubsidiariesBankAndBankHoldingCompany_documentation_en-US" xlink:label="lab_ms_AdvancesToSubsidiariesBankAndBankHoldingCompany" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Advances to subsidiaries, bank and bank holding company. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_AdvancesToSubsidiariesBankAndBankHoldingCompany" xlink:href="ms-20231231.xsd#ms_AdvancesToSubsidiariesBankAndBankHoldingCompany"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_AdvancesToSubsidiariesBankAndBankHoldingCompany" xlink:to="lab_ms_AdvancesToSubsidiariesBankAndBankHoldingCompany" xlink:type="arc" order="1"/>
<link:label id="lab_ms_CreditDerivativesByMaturityAxis_77a99875-cf85-41e7-b0d2-be61777017f7_terseLabel_en-US" xlink:label="lab_ms_CreditDerivativesByMaturityAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Credit Derivatives by Maturity [Axis] </link:label>
<link:label id="lab_ms_CreditDerivativesByMaturityAxis_label_en-US" xlink:label="lab_ms_CreditDerivativesByMaturityAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Credit Derivatives by Maturity [Axis] </link:label>
<link:label id="lab_ms_CreditDerivativesByMaturityAxis_documentation_en-US" xlink:label="lab_ms_CreditDerivativesByMaturityAxis" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Credit Derivatives by Maturity [Axis] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_CreditDerivativesByMaturityAxis" xlink:href="ms-20231231.xsd#ms_CreditDerivativesByMaturityAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_CreditDerivativesByMaturityAxis" xlink:to="lab_ms_CreditDerivativesByMaturityAxis" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock_bb7ad956-8564-4a44-bd76-2b3472d12a3c_verboseLabel_en-US" xlink:label="lab_us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Allowance for Credit Losses Rollforward - Loans and Lending Commitments </link:label>
<link:label id="lab_us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock_label_en-US" xlink:label="lab_us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financing Receivable, Allowance for Credit Loss [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock" xlink:to="lab_us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_InvestmentsFairValueDisclosure_164daee4-23f8-4335-8da7-206db10eb7ed_terseLabel_en-US" xlink:label="lab_us-gaap_InvestmentsFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Investment securities </link:label>
<link:label id="lab_us-gaap_InvestmentsFairValueDisclosure_29f204bd-5da6-4dcc-af6e-ece23dfd11b5_verboseLabel_en-US" xlink:label="lab_us-gaap_InvestmentsFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value </link:label>
<link:label id="lab_us-gaap_InvestmentsFairValueDisclosure_dfbd8d12-a8dd-4373-9722-599dd0b053df_totalLabel_en-US" xlink:label="lab_us-gaap_InvestmentsFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Investment securities: Fair value, total </link:label>
<link:label id="lab_us-gaap_InvestmentsFairValueDisclosure_label_en-US" xlink:label="lab_us-gaap_InvestmentsFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Investments, Fair Value Disclosure </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_InvestmentsFairValueDisclosure" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_InvestmentsFairValueDisclosure"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InvestmentsFairValueDisclosure" xlink:to="lab_us-gaap_InvestmentsFairValueDisclosure" xlink:type="arc" order="1"/>
<link:label id="lab_ms_AmericanDepositarySharesPerPreferredStockIssued_2eb9761a-2cd5-43af-ba38-a20098c64af5_terseLabel_en-US" xlink:label="lab_ms_AmericanDepositarySharesPerPreferredStockIssued" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Depositary shares per share (in shares) </link:label>
<link:label id="lab_ms_AmericanDepositarySharesPerPreferredStockIssued_label_en-US" xlink:label="lab_ms_AmericanDepositarySharesPerPreferredStockIssued" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> American Depositary Shares Per Preferred Stock Issued </link:label>
<link:label id="lab_ms_AmericanDepositarySharesPerPreferredStockIssued_documentation_en-US" xlink:label="lab_ms_AmericanDepositarySharesPerPreferredStockIssued" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Number of American Depositary Shares per preferred stock issued. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_AmericanDepositarySharesPerPreferredStockIssued" xlink:href="ms-20231231.xsd#ms_AmericanDepositarySharesPerPreferredStockIssued"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_AmericanDepositarySharesPerPreferredStockIssued" xlink:to="lab_ms_AmericanDepositarySharesPerPreferredStockIssued" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_IncreaseDecreaseInSecuritiesBorrowed_c722a6a2-edb1-4e14-a8bb-38e3ef744c39_negatedLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInSecuritiesBorrowed" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Securities borrowed </link:label>
<link:label id="lab_us-gaap_IncreaseDecreaseInSecuritiesBorrowed_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInSecuritiesBorrowed" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Increase (Decrease) in Securities Borrowed </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInSecuritiesBorrowed" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_IncreaseDecreaseInSecuritiesBorrowed"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInSecuritiesBorrowed" xlink:to="lab_us-gaap_IncreaseDecreaseInSecuritiesBorrowed" xlink:type="arc" order="1"/>
<link:label id="lab_ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalInYearFour_dd58235e-271b-4473-bbfa-982a6ab7f59c_terseLabel_en-US" xlink:label="lab_ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalInYearFour" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Year 4 </link:label>
<link:label id="lab_ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalInYearFour_label_en-US" xlink:label="lab_ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalInYearFour" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Transfers Accounted for as Secured Borrowings, Associated Liabilities, Maturities, Repayments of Principal in Year Four </link:label>
<link:label id="lab_ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalInYearFour_documentation_en-US" xlink:label="lab_ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalInYearFour" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Amount of liabilities associated with financial assets accounted for as secured borrowings maturing in the fourth fiscal year following the latest fiscal year. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalInYearFour" xlink:href="ms-20231231.xsd#ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalInYearFour"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalInYearFour" xlink:to="lab_ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalInYearFour" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock_8e07c27a-ed29-47ee-801f-0163f6dd9734_terseLabel_en-US" xlink:label="lab_us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Foreign Currencies </link:label>
<link:label id="lab_us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Foreign Currency Transactions and Translations Policy [Policy Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock" xlink:to="lab_us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_ms_ScheduleOfMarketableSecuritiesLineItems_852d1ce4-9b52-4beb-a1ba-6c59be5de25e_verboseLabel_en-US" xlink:label="lab_ms_ScheduleOfMarketableSecuritiesLineItems" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Investment Securities [Line Items] </link:label>
<link:label id="lab_ms_ScheduleOfMarketableSecuritiesLineItems_label_en-US" xlink:label="lab_ms_ScheduleOfMarketableSecuritiesLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Marketable Securities [Line Items] </link:label>
<link:label id="lab_ms_ScheduleOfMarketableSecuritiesLineItems_documentation_en-US" xlink:label="lab_ms_ScheduleOfMarketableSecuritiesLineItems" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Marketable Securities </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_ScheduleOfMarketableSecuritiesLineItems" xlink:href="ms-20231231.xsd#ms_ScheduleOfMarketableSecuritiesLineItems"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_ScheduleOfMarketableSecuritiesLineItems" xlink:to="lab_ms_ScheduleOfMarketableSecuritiesLineItems" xlink:type="arc" order="1"/>
<link:label id="lab_ms_UsTreasuryAndGovernmentAndForeignGovernmentDebtSecuritiesMember_656566bd-cc6d-4ab6-bbff-4538819443b8_terseLabel_en-US" xlink:label="lab_ms_UsTreasuryAndGovernmentAndForeignGovernmentDebtSecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> U.S. government and agency securities and other sovereign government obligations </link:label>
<link:label id="lab_ms_UsTreasuryAndGovernmentAndForeignGovernmentDebtSecuritiesMember_label_en-US" xlink:label="lab_ms_UsTreasuryAndGovernmentAndForeignGovernmentDebtSecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> US Treasury and Government, and Foreign Government Debt Securities [Member] </link:label>
<link:label id="lab_ms_UsTreasuryAndGovernmentAndForeignGovernmentDebtSecuritiesMember_documentation_en-US" xlink:label="lab_ms_UsTreasuryAndGovernmentAndForeignGovernmentDebtSecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt securities issued by the United States Department of the Treasury, US Government Agencies and US Government-sponsored Enterprises; and a national, local, or municipal government not within the country of domicile of the reporting entity. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_UsTreasuryAndGovernmentAndForeignGovernmentDebtSecuritiesMember" xlink:href="ms-20231231.xsd#ms_UsTreasuryAndGovernmentAndForeignGovernmentDebtSecuritiesMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_UsTreasuryAndGovernmentAndForeignGovernmentDebtSecuritiesMember" xlink:to="lab_ms_UsTreasuryAndGovernmentAndForeignGovernmentDebtSecuritiesMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_RepurchaseAgreementsResaleAgreementsSecuritiesBorrowedAndSecuritiesLoanedDisclosureTextBlock_2eec58d3-63fb-49d7-a80d-d8453fce747a_terseLabel_en-US" xlink:label="lab_us-gaap_RepurchaseAgreementsResaleAgreementsSecuritiesBorrowedAndSecuritiesLoanedDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Collateralized Transactions </link:label>
<link:label id="lab_us-gaap_RepurchaseAgreementsResaleAgreementsSecuritiesBorrowedAndSecuritiesLoanedDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_RepurchaseAgreementsResaleAgreementsSecuritiesBorrowedAndSecuritiesLoanedDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Repurchase Agreements, Resale Agreements, Securities Borrowed, and Securities Loaned Disclosure [Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_RepurchaseAgreementsResaleAgreementsSecuritiesBorrowedAndSecuritiesLoanedDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_RepurchaseAgreementsResaleAgreementsSecuritiesBorrowedAndSecuritiesLoanedDisclosureTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RepurchaseAgreementsResaleAgreementsSecuritiesBorrowedAndSecuritiesLoanedDisclosureTextBlock" xlink:to="lab_us-gaap_RepurchaseAgreementsResaleAgreementsSecuritiesBorrowedAndSecuritiesLoanedDisclosureTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DefinedBenefitPlanPlanAssetsForeignCurrencyTranslationGainLoss_44f2080b-5440-4db1-a50a-f5b503fb3d5e_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanPlanAssetsForeignCurrencyTranslationGainLoss" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other </link:label>
<link:label id="lab_us-gaap_DefinedBenefitPlanPlanAssetsForeignCurrencyTranslationGainLoss_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanPlanAssetsForeignCurrencyTranslationGainLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Defined Benefit Plan, Plan Assets, Foreign Currency Translation Gain (Loss) </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanPlanAssetsForeignCurrencyTranslationGainLoss" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DefinedBenefitPlanPlanAssetsForeignCurrencyTranslationGainLoss"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanPlanAssetsForeignCurrencyTranslationGainLoss" xlink:to="lab_us-gaap_DefinedBenefitPlanPlanAssetsForeignCurrencyTranslationGainLoss" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_CompensationRelatedCostsAbstract_c0fd9c9e-e8b5-403c-8149-4cc1ed632018_terseLabel_en-US" xlink:label="lab_us-gaap_CompensationRelatedCostsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Compensation Related Costs [Abstract] </link:label>
<link:label id="lab_us-gaap_CompensationRelatedCostsAbstract_label_en-US" xlink:label="lab_us-gaap_CompensationRelatedCostsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Compensation Related Costs [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CompensationRelatedCostsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CompensationRelatedCostsAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CompensationRelatedCostsAbstract" xlink:to="lab_us-gaap_CompensationRelatedCostsAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock_d4fdbcc6-d9d3-464f-94e9-8b6d938c96cb_terseLabel_en-US" xlink:label="lab_us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Parent Company </link:label>
<link:label id="lab_us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Condensed Financial Information of Parent Company Only Disclosure [Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock" xlink:to="lab_us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ConcentrationRiskBenchmarkDomain_cd5dd472-cab3-4891-87e0-c2c7e920b73c_terseLabel_en-US" xlink:label="lab_us-gaap_ConcentrationRiskBenchmarkDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Concentration Risk Benchmark [Domain] </link:label>
<link:label id="lab_us-gaap_ConcentrationRiskBenchmarkDomain_label_en-US" xlink:label="lab_us-gaap_ConcentrationRiskBenchmarkDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Concentration Risk Benchmark [Domain] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ConcentrationRiskBenchmarkDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ConcentrationRiskBenchmarkDomain"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ConcentrationRiskBenchmarkDomain" xlink:to="lab_us-gaap_ConcentrationRiskBenchmarkDomain" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax_33f817be-dc7b-4600-878f-203351574625_terseLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Recognized in OCI </link:label>
<link:label id="lab_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax_label_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax" xlink:to="lab_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_IncreaseDecreaseInReceivables_0ddd2a7d-eeb4-4e96-9f83-dcfc52325794_negatedLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInReceivables" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Customer and other receivables and other assets </link:label>
<link:label id="lab_us-gaap_IncreaseDecreaseInReceivables_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInReceivables" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Increase (Decrease) in Receivables </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInReceivables" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_IncreaseDecreaseInReceivables"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInReceivables" xlink:to="lab_us-gaap_IncreaseDecreaseInReceivables" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DefinedBenefitPlanAmountsRecognizedInBalanceSheet_182d6e59-8faf-4d97-8dec-22a6696d75cc_totalLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanAmountsRecognizedInBalanceSheet" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Net amount recognized </link:label>
<link:label id="lab_us-gaap_DefinedBenefitPlanAmountsRecognizedInBalanceSheet_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanAmountsRecognizedInBalanceSheet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Defined Benefit Plan, Amounts for Asset (Liability) Recognized in Statement of Financial Position </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanAmountsRecognizedInBalanceSheet" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DefinedBenefitPlanAmountsRecognizedInBalanceSheet"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanAmountsRecognizedInBalanceSheet" xlink:to="lab_us-gaap_DefinedBenefitPlanAmountsRecognizedInBalanceSheet" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_LitigationStatusDomain_e1697c21-c190-4496-b7ab-d12987660fe3_terseLabel_en-US" xlink:label="lab_us-gaap_LitigationStatusDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Litigation Status [Domain] </link:label>
<link:label id="lab_us-gaap_LitigationStatusDomain_label_en-US" xlink:label="lab_us-gaap_LitigationStatusDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Litigation Status [Domain] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LitigationStatusDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LitigationStatusDomain"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LitigationStatusDomain" xlink:to="lab_us-gaap_LitigationStatusDomain" xlink:type="arc" order="1"/>
<link:label id="lab_ms_ShortTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_c08fa4bc-384d-4b2d-9b6f-05615b72fa81_terseLabel_en-US" xlink:label="lab_ms_ShortTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Next 12 months </link:label>
<link:label id="lab_ms_ShortTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_label_en-US" xlink:label="lab_ms_ShortTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Short-term Debt, Maturities, Repayments of Principal in Next Twelve Months </link:label>
<link:label id="lab_ms_ShortTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_documentation_en-US" xlink:label="lab_ms_ShortTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Amount of short-term debt payable maturing in the next fiscal year following the latest fiscal year. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_ShortTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:href="ms-20231231.xsd#ms_ShortTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_ShortTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:to="lab_ms_ShortTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:type="arc" order="1"/>
<link:label id="lab_ms_ScheduleOfRestrictedNetAssetsTableTextBlock_d0789490-1f44-4dfc-bf3e-0363278ebb93_terseLabel_en-US" xlink:label="lab_ms_ScheduleOfRestrictedNetAssetsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Restrictions on Payments </link:label>
<link:label id="lab_ms_ScheduleOfRestrictedNetAssetsTableTextBlock_label_en-US" xlink:label="lab_ms_ScheduleOfRestrictedNetAssetsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Restricted Net Assets [Table Text Block] </link:label>
<link:label id="lab_ms_ScheduleOfRestrictedNetAssetsTableTextBlock_documentation_en-US" xlink:label="lab_ms_ScheduleOfRestrictedNetAssetsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Tabular disclosure of net assets that may be restricted as to the payment of cash dividends and advances to the reporting entity. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_ScheduleOfRestrictedNetAssetsTableTextBlock" xlink:href="ms-20231231.xsd#ms_ScheduleOfRestrictedNetAssetsTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_ScheduleOfRestrictedNetAssetsTableTextBlock" xlink:to="lab_ms_ScheduleOfRestrictedNetAssetsTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions_cbac36a8-d171-4a70-9441-5be8972ecdc2_terseLabel_en-US" xlink:label="lab_us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Increases based on tax positions related to prior periods </link:label>
<link:label id="lab_us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions_label_en-US" xlink:label="lab_us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Unrecognized Tax Benefits, Increase Resulting from Prior Period Tax Positions </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions" xlink:to="lab_us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesCarryingAmount_0c08633d-9d16-4f35-a465-95586658d631_verboseLabel_en-US" xlink:label="lab_us-gaap_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesCarryingAmount" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Transfers of assets accounted for as secured financings </link:label>
<link:label id="lab_us-gaap_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesCarryingAmount_140e1e83-c75c-48d9-bc74-7306f848ac90_totalLabel_en-US" xlink:label="lab_us-gaap_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesCarryingAmount" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Total </link:label>
<link:label id="lab_us-gaap_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesCarryingAmount_label_en-US" xlink:label="lab_us-gaap_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesCarryingAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Transfers Accounted for as Secured Borrowings, Associated Liabilities, Carrying Amount </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesCarryingAmount" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesCarryingAmount"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesCarryingAmount" xlink:to="lab_us-gaap_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesCarryingAmount" xlink:type="arc" order="1"/>
<link:label id="lab_ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalInYearThree_54052bdc-6bad-4e87-af92-611175d69828_terseLabel_en-US" xlink:label="lab_ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalInYearThree" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Year 3 </link:label>
<link:label id="lab_ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalInYearThree_label_en-US" xlink:label="lab_ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalInYearThree" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Transfers Accounted for as Secured Borrowings, Associated Liabilities, Maturities, Repayments of Principal in Year Three </link:label>
<link:label id="lab_ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalInYearThree_documentation_en-US" xlink:label="lab_ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalInYearThree" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Amount of liabilities associated with financial assets accounted for as secured borrowings maturing in the third fiscal year following the latest fiscal year. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalInYearThree" xlink:href="ms-20231231.xsd#ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalInYearThree"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalInYearThree" xlink:to="lab_ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalInYearThree" xlink:type="arc" order="1"/>
<link:label id="lab_ms_CreditDerivativesProtectionDomain_2b206cf6-7ff3-4dc9-9e9d-d7e8168aed92_terseLabel_en-US" xlink:label="lab_ms_CreditDerivativesProtectionDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Credit Derivatives, Protection [Domain] </link:label>
<link:label id="lab_ms_CreditDerivativesProtectionDomain_label_en-US" xlink:label="lab_ms_CreditDerivativesProtectionDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Credit Derivatives, Protection [Domain] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_CreditDerivativesProtectionDomain" xlink:href="ms-20231231.xsd#ms_CreditDerivativesProtectionDomain"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_CreditDerivativesProtectionDomain" xlink:to="lab_ms_CreditDerivativesProtectionDomain" xlink:type="arc" order="1"/>
<link:label id="lab_ms_MeasurementInputInflationVolatilityMember_cc89aed8-ccc9-4922-b1ac-e8b474f51267_terseLabel_en-US" xlink:label="lab_ms_MeasurementInputInflationVolatilityMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Inflation Volatility </link:label>
<link:label id="lab_ms_MeasurementInputInflationVolatilityMember_label_en-US" xlink:label="lab_ms_MeasurementInputInflationVolatilityMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Measurement Input, Inflation Volatility [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_MeasurementInputInflationVolatilityMember" xlink:href="ms-20231231.xsd#ms_MeasurementInputInflationVolatilityMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_MeasurementInputInflationVolatilityMember" xlink:to="lab_ms_MeasurementInputInflationVolatilityMember" xlink:type="arc" order="1"/>
<link:label id="lab_srt_SubsidiariesMember_bdd43ba0-c10b-4877-a6d5-ce74b319b4db_terseLabel_en-US" xlink:label="lab_srt_SubsidiariesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Subsidiaries </link:label>
<link:label id="lab_srt_SubsidiariesMember_label_en-US" xlink:label="lab_srt_SubsidiariesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Subsidiaries [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_srt_SubsidiariesMember" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_SubsidiariesMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_SubsidiariesMember" xlink:to="lab_srt_SubsidiariesMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_CommonStockDividendsPerShareDeclared_6874e06f-1185-40c0-a946-c0a11d42e70d_verboseLabel_en-US" xlink:label="lab_us-gaap_CommonStockDividendsPerShareDeclared" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Common stock dividend declared (in dollars per share) </link:label>
<link:label id="lab_us-gaap_CommonStockDividendsPerShareDeclared_label_en-US" xlink:label="lab_us-gaap_CommonStockDividendsPerShareDeclared" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Common Stock, Dividends, Per Share, Declared </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockDividendsPerShareDeclared" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CommonStockDividendsPerShareDeclared"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockDividendsPerShareDeclared" xlink:to="lab_us-gaap_CommonStockDividendsPerShareDeclared" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements_384c86a2-3edc-4923-a650-f4b3f50b1aed_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Settlements </link:label>
<link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements_label_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Settlements </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements"/>
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<link:label id="lab_us-gaap_WarrantMember_a66ab75a-e355-481c-bf54-8aa42f548f42_terseLabel_en-US" xlink:label="lab_us-gaap_WarrantMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt Instuments and Warrants </link:label>
<link:label id="lab_us-gaap_WarrantMember_label_en-US" xlink:label="lab_us-gaap_WarrantMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Warrant [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_WarrantMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_WarrantMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_WarrantMember" xlink:to="lab_us-gaap_WarrantMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_OtherCommitmentDueInSecondAndThirdYear_f03321ef-5135-41c4-a7b1-76893a3fae9b_terseLabel_en-US" xlink:label="lab_us-gaap_OtherCommitmentDueInSecondAndThirdYear" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> 1-3 (years) </link:label>
<link:label id="lab_us-gaap_OtherCommitmentDueInSecondAndThirdYear_label_en-US" xlink:label="lab_us-gaap_OtherCommitmentDueInSecondAndThirdYear" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other Commitment, to be Paid, Year Two and Three </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherCommitmentDueInSecondAndThirdYear" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OtherCommitmentDueInSecondAndThirdYear"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherCommitmentDueInSecondAndThirdYear" xlink:to="lab_us-gaap_OtherCommitmentDueInSecondAndThirdYear" xlink:type="arc" order="1"/>
<link:label id="lab_ms_MoreThanOneAndWithinThreeYearsFromBalanceSheetDateMember_5c668637-d795-410e-bdbe-20cf0b349f18_terseLabel_en-US" xlink:label="lab_ms_MoreThanOneAndWithinThreeYearsFromBalanceSheetDateMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> 1 - 3 (Years) </link:label>
<link:label id="lab_ms_MoreThanOneAndWithinThreeYearsFromBalanceSheetDateMember_label_en-US" xlink:label="lab_ms_MoreThanOneAndWithinThreeYearsFromBalanceSheetDateMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> More than One and within Three Years from Balance Sheet Date [Member] </link:label>
<link:label id="lab_ms_MoreThanOneAndWithinThreeYearsFromBalanceSheetDateMember_documentation_en-US" xlink:label="lab_ms_MoreThanOneAndWithinThreeYearsFromBalanceSheetDateMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> More than One and within Three Years from Balance Sheet Date [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_MoreThanOneAndWithinThreeYearsFromBalanceSheetDateMember" xlink:href="ms-20231231.xsd#ms_MoreThanOneAndWithinThreeYearsFromBalanceSheetDateMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_MoreThanOneAndWithinThreeYearsFromBalanceSheetDateMember" xlink:to="lab_ms_MoreThanOneAndWithinThreeYearsFromBalanceSheetDateMember" xlink:type="arc" order="1"/>
<link:label id="lab_srt_MinimumFinancialRequirementsForFuturesCommissionMerchantsUnderCommodityExchangeActTextBlock_898153a9-5306-4f9a-b051-e8de85f05828_terseLabel_en-US" xlink:label="lab_srt_MinimumFinancialRequirementsForFuturesCommissionMerchantsUnderCommodityExchangeActTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Broker-Dealer Regulatory Capital Requirements </link:label>
<link:label id="lab_srt_MinimumFinancialRequirementsForFuturesCommissionMerchantsUnderCommodityExchangeActTextBlock_label_en-US" xlink:label="lab_srt_MinimumFinancialRequirementsForFuturesCommissionMerchantsUnderCommodityExchangeActTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Futures Commission Merchant, Minimum Financial Requirement [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_srt_MinimumFinancialRequirementsForFuturesCommissionMerchantsUnderCommodityExchangeActTextBlock" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_MinimumFinancialRequirementsForFuturesCommissionMerchantsUnderCommodityExchangeActTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_MinimumFinancialRequirementsForFuturesCommissionMerchantsUnderCommodityExchangeActTextBlock" xlink:to="lab_srt_MinimumFinancialRequirementsForFuturesCommissionMerchantsUnderCommodityExchangeActTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_SecuritiesBorrowedNotSubjectToMasterNettingArrangement_c44adcca-73eb-423f-9dc5-49750d31e5fc_terseLabel_en-US" xlink:label="lab_us-gaap_SecuritiesBorrowedNotSubjectToMasterNettingArrangement" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Securities borrowed </link:label>
<link:label id="lab_us-gaap_SecuritiesBorrowedNotSubjectToMasterNettingArrangement_label_en-US" xlink:label="lab_us-gaap_SecuritiesBorrowedNotSubjectToMasterNettingArrangement" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Securities Borrowed, Not Subject to Master Netting Arrangement </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_SecuritiesBorrowedNotSubjectToMasterNettingArrangement" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SecuritiesBorrowedNotSubjectToMasterNettingArrangement"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SecuritiesBorrowedNotSubjectToMasterNettingArrangement" xlink:to="lab_us-gaap_SecuritiesBorrowedNotSubjectToMasterNettingArrangement" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_EntityWideInformationRevenueFromExternalCustomerLineItems_486ce1c7-9b30-4b3e-84ad-d70d8d5bc583_terseLabel_en-US" xlink:label="lab_us-gaap_EntityWideInformationRevenueFromExternalCustomerLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Revenue from External Customer [Line Items] </link:label>
<link:label id="lab_us-gaap_EntityWideInformationRevenueFromExternalCustomerLineItems_label_en-US" xlink:label="lab_us-gaap_EntityWideInformationRevenueFromExternalCustomerLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Revenue from External Customer [Line Items] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_EntityWideInformationRevenueFromExternalCustomerLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_EntityWideInformationRevenueFromExternalCustomerLineItems"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EntityWideInformationRevenueFromExternalCustomerLineItems" xlink:to="lab_us-gaap_EntityWideInformationRevenueFromExternalCustomerLineItems" xlink:type="arc" order="1"/>
<link:label id="lab_ms_BankingRegulationCapitalConservationBufferCapitalConservedMinimumAdvanced_508f1b88-aedb-4084-9139-9bcb03f1628f_terseLabel_en-US" xlink:label="lab_ms_BankingRegulationCapitalConservationBufferCapitalConservedMinimumAdvanced" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Advanced (as a percent) </link:label>
<link:label id="lab_ms_BankingRegulationCapitalConservationBufferCapitalConservedMinimumAdvanced_label_en-US" xlink:label="lab_ms_BankingRegulationCapitalConservationBufferCapitalConservedMinimumAdvanced" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Banking Regulation, Capital Conservation Buffer, Capital Conserved, Minimum, Advanced </link:label>
<link:label id="lab_ms_BankingRegulationCapitalConservationBufferCapitalConservedMinimumAdvanced_documentation_en-US" xlink:label="lab_ms_BankingRegulationCapitalConservationBufferCapitalConservedMinimumAdvanced" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Banking Regulation, Capital Conservation Buffer, Capital Conserved, Minimum, Advanced </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_BankingRegulationCapitalConservationBufferCapitalConservedMinimumAdvanced" xlink:href="ms-20231231.xsd#ms_BankingRegulationCapitalConservationBufferCapitalConservedMinimumAdvanced"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_BankingRegulationCapitalConservationBufferCapitalConservedMinimumAdvanced" xlink:to="lab_ms_BankingRegulationCapitalConservationBufferCapitalConservedMinimumAdvanced" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_CreditRiskDerivativesAtFairValueNet_33c94e2b-4a1c-4b98-839c-1d37506a1206_terseLabel_en-US" xlink:label="lab_us-gaap_CreditRiskDerivativesAtFairValueNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value Asset (Liability) </link:label>
<link:label id="lab_us-gaap_CreditRiskDerivativesAtFairValueNet_label_en-US" xlink:label="lab_us-gaap_CreditRiskDerivativesAtFairValueNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Credit Risk Derivatives, at Fair Value, Net </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CreditRiskDerivativesAtFairValueNet" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CreditRiskDerivativesAtFairValueNet"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CreditRiskDerivativesAtFairValueNet" xlink:to="lab_us-gaap_CreditRiskDerivativesAtFairValueNet" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTable_4cfb4117-b550-4777-a065-b399e80f3f30_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value Measurement Inputs and Valuation Techniques [Table] </link:label>
<link:label id="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTable_label_en-US" xlink:label="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value Measurement Inputs and Valuation Techniques [Table] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTable" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTable"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTable" xlink:to="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTable" xlink:type="arc" order="1"/>
<link:label id="lab_ms_ScheduleOfHedgedLiabilityFairValueHedgeTableTextBlock_ec51f6ae-fc5a-45ac-9373-2644713a2faf_terseLabel_en-US" xlink:label="lab_ms_ScheduleOfHedgedLiabilityFairValueHedgeTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Fair Value Hedges - Hedged Items </link:label>
<link:label id="lab_ms_ScheduleOfHedgedLiabilityFairValueHedgeTableTextBlock_label_en-US" xlink:label="lab_ms_ScheduleOfHedgedLiabilityFairValueHedgeTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Hedged Liability, Fair Value Hedge [Table Text Block] </link:label>
<link:label id="lab_ms_ScheduleOfHedgedLiabilityFairValueHedgeTableTextBlock_documentation_en-US" xlink:label="lab_ms_ScheduleOfHedgedLiabilityFairValueHedgeTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Tabular disclosure of carrying amount of heged liabilities recognized in the statement of financial position, including the cumulative amount of fair value hedging adjustments to hedged liabilities included in the carrying amount of the hedged liabilities. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_ScheduleOfHedgedLiabilityFairValueHedgeTableTextBlock" xlink:href="ms-20231231.xsd#ms_ScheduleOfHedgedLiabilityFairValueHedgeTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_ScheduleOfHedgedLiabilityFairValueHedgeTableTextBlock" xlink:to="lab_ms_ScheduleOfHedgedLiabilityFairValueHedgeTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax_28134d01-e9d1-465b-b2ef-66192381d9c6_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Reclassified to earnings </link:label>
<link:label id="lab_us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax_label_en-US" xlink:label="lab_us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax" xlink:to="lab_us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax" xlink:type="arc" order="1"/>
<link:label id="lab_ms_FixedRateDebtMember_f0125923-9afd-4b7f-86fe-dc57095a9bf5_terseLabel_en-US" xlink:label="lab_ms_FixedRateDebtMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fixed Rate </link:label>
<link:label id="lab_ms_FixedRateDebtMember_label_en-US" xlink:label="lab_ms_FixedRateDebtMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fixed Rate Debt [Member] </link:label>
<link:label id="lab_ms_FixedRateDebtMember_documentation_en-US" xlink:label="lab_ms_FixedRateDebtMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fixed rate debt. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_FixedRateDebtMember" xlink:href="ms-20231231.xsd#ms_FixedRateDebtMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_FixedRateDebtMember" xlink:to="lab_ms_FixedRateDebtMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward_1a39ed38-1cff-41ad-9071-11a4092e8255_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Liabilities at Fair Value </link:label>
<link:label id="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward_label_en-US" xlink:label="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward" xlink:to="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward" xlink:type="arc" order="1"/>
<link:label id="lab_ms_VariableInterestEntityDisclosuresTextBlock_93d95674-df9d-400d-a647-7694244ff71d_terseLabel_en-US" xlink:label="lab_ms_VariableInterestEntityDisclosuresTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Variable Interest Entities and Securitization Activities </link:label>
<link:label id="lab_ms_VariableInterestEntityDisclosuresTextBlock_label_en-US" xlink:label="lab_ms_VariableInterestEntityDisclosuresTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Variable Interest Entity Disclosures [Text Block] </link:label>
<link:label id="lab_ms_VariableInterestEntityDisclosuresTextBlock_documentation_en-US" xlink:label="lab_ms_VariableInterestEntityDisclosuresTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Describes how the entity aggregates Variable Interest Entities (VIE) for disclosure purposes, distinguishing between (a) VIEs that are not consolidated because the enterprise is not the primary beneficiary but has a variable interest and (b) VIEs that are consolidated. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_VariableInterestEntityDisclosuresTextBlock" xlink:href="ms-20231231.xsd#ms_VariableInterestEntityDisclosuresTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_VariableInterestEntityDisclosuresTextBlock" xlink:to="lab_ms_VariableInterestEntityDisclosuresTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_IncomeStatementLocationAxis_3ec54b9f-323a-4a64-83f4-0d2b486a4964_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeStatementLocationAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Income Statement Location [Axis] </link:label>
<link:label id="lab_us-gaap_IncomeStatementLocationAxis_label_en-US" xlink:label="lab_us-gaap_IncomeStatementLocationAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Income Statement Location [Axis] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeStatementLocationAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_IncomeStatementLocationAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeStatementLocationAxis" xlink:to="lab_us-gaap_IncomeStatementLocationAxis" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FinancialInstrumentsFinancialAssetsBalanceSheetGroupingsAbstract_f9bef588-c4c2-4c22-a938-acd3189c6df5_terseLabel_en-US" xlink:label="lab_us-gaap_FinancialInstrumentsFinancialAssetsBalanceSheetGroupingsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financial Assets </link:label>
<link:label id="lab_us-gaap_FinancialInstrumentsFinancialAssetsBalanceSheetGroupingsAbstract_label_en-US" xlink:label="lab_us-gaap_FinancialInstrumentsFinancialAssetsBalanceSheetGroupingsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancialInstrumentsFinancialAssetsBalanceSheetGroupingsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FinancialInstrumentsFinancialAssetsBalanceSheetGroupingsAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancialInstrumentsFinancialAssetsBalanceSheetGroupingsAbstract" xlink:to="lab_us-gaap_FinancialInstrumentsFinancialAssetsBalanceSheetGroupingsAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_ms_CommitmentsParticipatedToThirdParties_3db509f9-1105-4c65-b809-561a82aea71a_terseLabel_en-US" xlink:label="lab_ms_CommitmentsParticipatedToThirdParties" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Lending commitments participated to third parties </link:label>
<link:label id="lab_ms_CommitmentsParticipatedToThirdParties_label_en-US" xlink:label="lab_ms_CommitmentsParticipatedToThirdParties" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Commitments participated to third parties </link:label>
<link:label id="lab_ms_CommitmentsParticipatedToThirdParties_documentation_en-US" xlink:label="lab_ms_CommitmentsParticipatedToThirdParties" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Commitments participated to third parties. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_CommitmentsParticipatedToThirdParties" xlink:href="ms-20231231.xsd#ms_CommitmentsParticipatedToThirdParties"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_CommitmentsParticipatedToThirdParties" xlink:to="lab_ms_CommitmentsParticipatedToThirdParties" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment_3dd32ce3-ab36-4398-a458-a7f5eabdf97b_terseLabel_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Effect of dilutive RSUs and PSUs (in shares) </link:label>
<link:label id="lab_us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment_label_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Weighted Average Number of Shares Outstanding, Diluted, Adjustment </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment" xlink:to="lab_us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_TierOneRiskBasedCapitalAbstract_406a9b99-f430-42cc-baae-941a436f7b21_terseLabel_en-US" xlink:label="lab_us-gaap_TierOneRiskBasedCapitalAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Tier 1 capital ratio </link:label>
<link:label id="lab_us-gaap_TierOneRiskBasedCapitalAbstract_label_en-US" xlink:label="lab_us-gaap_TierOneRiskBasedCapitalAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Banking Regulation, Tier 1 Risk-Based Capital [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_TierOneRiskBasedCapitalAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_TierOneRiskBasedCapitalAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TierOneRiskBasedCapitalAbstract" xlink:to="lab_us-gaap_TierOneRiskBasedCapitalAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_ms_MorganStanleyAverageReturnOnEquityExcludingCertainAdjustmentsMember_8ae17106-1128-4a3e-8837-2fab5fdc4bea_terseLabel_en-US" xlink:label="lab_ms_MorganStanleyAverageReturnOnEquityExcludingCertainAdjustmentsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> MS Average ROTCE / Relative ROTCE </link:label>
<link:label id="lab_ms_MorganStanleyAverageReturnOnEquityExcludingCertainAdjustmentsMember_label_en-US" xlink:label="lab_ms_MorganStanleyAverageReturnOnEquityExcludingCertainAdjustmentsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Morgan Stanley Average Return on Equity, Excluding Certain Adjustments [Member] </link:label>
<link:label id="lab_ms_MorganStanleyAverageReturnOnEquityExcludingCertainAdjustmentsMember_documentation_en-US" xlink:label="lab_ms_MorganStanleyAverageReturnOnEquityExcludingCertainAdjustmentsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Morgan Stanley's average return on equity, excluding certain adjustments specified in the plan terms. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_MorganStanleyAverageReturnOnEquityExcludingCertainAdjustmentsMember" xlink:href="ms-20231231.xsd#ms_MorganStanleyAverageReturnOnEquityExcludingCertainAdjustmentsMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_MorganStanleyAverageReturnOnEquityExcludingCertainAdjustmentsMember" xlink:to="lab_ms_MorganStanleyAverageReturnOnEquityExcludingCertainAdjustmentsMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue_39c17e4b-d152-476d-86dd-eef7aac5d36c_terseLabel_en-US" xlink:label="lab_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> HTM securities: Fair value, after 5 years through 10 years </link:label>
<link:label id="lab_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue_label_en-US" xlink:label="lab_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 5 Through 10 </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_HeldToMaturitySecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue" xlink:to="lab_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_CashAndCashEquivalentsPolicyTextBlock_0014d993-82a6-4cba-822f-48cb6cb99a43_terseLabel_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Cash and Cash Equivalents </link:label>
<link:label id="lab_us-gaap_CashAndCashEquivalentsPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Cash and Cash Equivalents, Policy [Policy Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CashAndCashEquivalentsPolicyTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:to="lab_us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_ms_LeaseholdImprovementsBuildingMember_1cad2677-fec0-4e0c-9e54-f9f791f823fe_terseLabel_en-US" xlink:label="lab_ms_LeaseholdImprovementsBuildingMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Leasehold improvements—Building </link:label>
<link:label id="lab_ms_LeaseholdImprovementsBuildingMember_label_en-US" xlink:label="lab_ms_LeaseholdImprovementsBuildingMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Leasehold Improvements, Building [Member] </link:label>
<link:label id="lab_ms_LeaseholdImprovementsBuildingMember_documentation_en-US" xlink:label="lab_ms_LeaseholdImprovementsBuildingMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Additions or improvements to building held under a lease arrangement. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_LeaseholdImprovementsBuildingMember" xlink:href="ms-20231231.xsd#ms_LeaseholdImprovementsBuildingMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_LeaseholdImprovementsBuildingMember" xlink:to="lab_ms_LeaseholdImprovementsBuildingMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals_e711070c-d002-417b-80f8-a2296f18d931_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Allowance for credit losses and other reserves </link:label>
<link:label id="lab_us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals_label_en-US" xlink:label="lab_us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals" xlink:to="lab_us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_LeaseCostTableTextBlock_b6b81c03-2324-4ba6-bf19-febafd215621_terseLabel_en-US" xlink:label="lab_us-gaap_LeaseCostTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Lease Costs and Rent Expense </link:label>
<link:label id="lab_us-gaap_LeaseCostTableTextBlock_label_en-US" xlink:label="lab_us-gaap_LeaseCostTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Lease, Cost [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LeaseCostTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LeaseCostTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LeaseCostTableTextBlock" xlink:to="lab_us-gaap_LeaseCostTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_NonredeemableNoncontrollingInterest_a1d58f43-03f5-43fe-8409-939ca648bd1b_terseLabel_en-US" xlink:label="lab_us-gaap_NonredeemableNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Noncontrolling interests </link:label>
<link:label id="lab_us-gaap_NonredeemableNoncontrollingInterest_label_en-US" xlink:label="lab_us-gaap_NonredeemableNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Nonredeemable Noncontrolling Interest </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_NonredeemableNoncontrollingInterest" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_NonredeemableNoncontrollingInterest"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NonredeemableNoncontrollingInterest" xlink:to="lab_us-gaap_NonredeemableNoncontrollingInterest" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_StandbyLettersOfCreditMember_8d45d3e1-2a71-46bf-9acf-a912ee4ce11d_terseLabel_en-US" xlink:label="lab_us-gaap_StandbyLettersOfCreditMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Standby letters of credit and other financial guarantees issued </link:label>
<link:label id="lab_us-gaap_StandbyLettersOfCreditMember_label_en-US" xlink:label="lab_us-gaap_StandbyLettersOfCreditMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Standby Letters of Credit [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_StandbyLettersOfCreditMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_StandbyLettersOfCreditMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StandbyLettersOfCreditMember" xlink:to="lab_us-gaap_StandbyLettersOfCreditMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_2e1da729-85dd-4219-ac07-d3e7153c99a2_terseLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Cash flows from investing activities </link:label>
<link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Net Cash Provided by (Used in) Investing Activities [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract"/>
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<link:label id="lab_us-gaap_LitigationStatusAxis_fa21e49d-4af3-4e7a-8d3a-3ad366cd8368_terseLabel_en-US" xlink:label="lab_us-gaap_LitigationStatusAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Litigation Status [Axis] </link:label>
<link:label id="lab_us-gaap_LitigationStatusAxis_label_en-US" xlink:label="lab_us-gaap_LitigationStatusAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Litigation Status [Axis] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LitigationStatusAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LitigationStatusAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LitigationStatusAxis" xlink:to="lab_us-gaap_LitigationStatusAxis" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DeferredTaxAssetsTaxDeferredExpenseOther_a21d723a-4eee-4db6-85cc-3bd3fc159ce1_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredTaxAssetsTaxDeferredExpenseOther" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other </link:label>
<link:label id="lab_us-gaap_DeferredTaxAssetsTaxDeferredExpenseOther_label_en-US" xlink:label="lab_us-gaap_DeferredTaxAssetsTaxDeferredExpenseOther" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Deferred Tax Assets, Tax Deferred Expense, Other </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxAssetsTaxDeferredExpenseOther" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DeferredTaxAssetsTaxDeferredExpenseOther"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredTaxAssetsTaxDeferredExpenseOther" xlink:to="lab_us-gaap_DeferredTaxAssetsTaxDeferredExpenseOther" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_RegulatoryCapitalRequirementsUnderBankingRegulationsTextBlock_e2ecae67-c11a-4ed4-86e6-1956d3c0015c_terseLabel_en-US" xlink:label="lab_us-gaap_RegulatoryCapitalRequirementsUnderBankingRegulationsTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Regulatory Requirements </link:label>
<link:label id="lab_us-gaap_RegulatoryCapitalRequirementsUnderBankingRegulationsTextBlock_label_en-US" xlink:label="lab_us-gaap_RegulatoryCapitalRequirementsUnderBankingRegulationsTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Regulatory Capital Requirements under Banking Regulations [Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_RegulatoryCapitalRequirementsUnderBankingRegulationsTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_RegulatoryCapitalRequirementsUnderBankingRegulationsTextBlock"/>
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<link:label id="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract_a9c3c05d-9b10-4653-8113-9fd8a0c34280_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative Instruments and Hedging Activities Disclosure [Abstract] </link:label>
<link:label id="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract_label_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative Instruments and Hedging Activities Disclosure [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract" xlink:to="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_ms_LongTermDebtMaturityYearSix_46bcdd27-5ff4-4978-ad56-e12d23909637_terseLabel_en-US" xlink:label="lab_ms_LongTermDebtMaturityYearSix" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Year 6 </link:label>
<link:label id="lab_ms_LongTermDebtMaturityYearSix_label_en-US" xlink:label="lab_ms_LongTermDebtMaturityYearSix" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Long-Term Debt, Maturity, Year Six </link:label>
<link:label id="lab_ms_LongTermDebtMaturityYearSix_documentation_en-US" xlink:label="lab_ms_LongTermDebtMaturityYearSix" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Long-Term Debt, Maturity, Year Six </link:label>
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<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_LongTermDebtMaturityYearSix" xlink:to="lab_ms_LongTermDebtMaturityYearSix" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_InterestExpense_034e8b46-3b99-416e-8b9b-2e76d76593a9_terseLabel_en-US" xlink:label="lab_us-gaap_InterestExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Interest expense </link:label>
<link:label id="lab_us-gaap_InterestExpense_86bec6cf-9137-4346-9c47-f61d46d4ea62_totalLabel_en-US" xlink:label="lab_us-gaap_InterestExpense" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Total interest expense </link:label>
<link:label id="lab_us-gaap_InterestExpense_label_en-US" xlink:label="lab_us-gaap_InterestExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Interest Expense </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestExpense" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_InterestExpense"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestExpense" xlink:to="lab_us-gaap_InterestExpense" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FinitelivedIntangibleAssetsAcquired1_0065a76e-ad36-4276-8939-7a5a2ed23754_terseLabel_en-US" xlink:label="lab_us-gaap_FinitelivedIntangibleAssetsAcquired1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Acquired </link:label>
<link:label id="lab_us-gaap_FinitelivedIntangibleAssetsAcquired1_label_en-US" xlink:label="lab_us-gaap_FinitelivedIntangibleAssetsAcquired1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Finite-Lived Intangible Assets Acquired </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinitelivedIntangibleAssetsAcquired1" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FinitelivedIntangibleAssetsAcquired1"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinitelivedIntangibleAssetsAcquired1" xlink:to="lab_us-gaap_FinitelivedIntangibleAssetsAcquired1" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FinanceLoansAndLeasesReceivablePolicy_8edbd1a8-4c75-4c69-b9d2-2f5a622fc55c_terseLabel_en-US" xlink:label="lab_us-gaap_FinanceLoansAndLeasesReceivablePolicy" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Loans </link:label>
<link:label id="lab_us-gaap_FinanceLoansAndLeasesReceivablePolicy_label_en-US" xlink:label="lab_us-gaap_FinanceLoansAndLeasesReceivablePolicy" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financing Receivable [Policy Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinanceLoansAndLeasesReceivablePolicy" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FinanceLoansAndLeasesReceivablePolicy"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinanceLoansAndLeasesReceivablePolicy" xlink:to="lab_us-gaap_FinanceLoansAndLeasesReceivablePolicy" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_CollateralizedSecuritiesOtherMember_a8f1406e-29c0-4002-8260-198ea0a1f53e_terseLabel_en-US" xlink:label="lab_us-gaap_CollateralizedSecuritiesOtherMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other </link:label>
<link:label id="lab_us-gaap_CollateralizedSecuritiesOtherMember_label_en-US" xlink:label="lab_us-gaap_CollateralizedSecuritiesOtherMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Collateralized Securities, Other [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CollateralizedSecuritiesOtherMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CollateralizedSecuritiesOtherMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CollateralizedSecuritiesOtherMember" xlink:to="lab_us-gaap_CollateralizedSecuritiesOtherMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_DerivativeCreditRiskRelatedContingentFeaturesTriggeringEventDomain_2e742180-0757-4b95-a1b1-c294039aebde_terseLabel_en-US" xlink:label="lab_ms_DerivativeCreditRiskRelatedContingentFeaturesTriggeringEventDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative, Credit Risk Related Contingent Features, Triggering Event [Domain] </link:label>
<link:label id="lab_ms_DerivativeCreditRiskRelatedContingentFeaturesTriggeringEventDomain_label_en-US" xlink:label="lab_ms_DerivativeCreditRiskRelatedContingentFeaturesTriggeringEventDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative, Credit Risk Related Contingent Features, Triggering Event [Domain] </link:label>
<link:label id="lab_ms_DerivativeCreditRiskRelatedContingentFeaturesTriggeringEventDomain_documentation_en-US" xlink:label="lab_ms_DerivativeCreditRiskRelatedContingentFeaturesTriggeringEventDomain" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Circumstances in which credit-risk-related contingent features could be triggered in derivative instruments that are in a net liability position at the end of the reporting period. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_DerivativeCreditRiskRelatedContingentFeaturesTriggeringEventDomain" xlink:href="ms-20231231.xsd#ms_DerivativeCreditRiskRelatedContingentFeaturesTriggeringEventDomain"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_DerivativeCreditRiskRelatedContingentFeaturesTriggeringEventDomain" xlink:to="lab_ms_DerivativeCreditRiskRelatedContingentFeaturesTriggeringEventDomain" xlink:type="arc" order="1"/>
<link:label id="lab_ms_PaymentsRelatedToCommonStockRepurchaseAndTaxWithholdingForShareBasedCompensation_d9b0efb4-8a1f-448d-9aec-a7daaf09b6bd_negatedLabel_en-US" xlink:label="lab_ms_PaymentsRelatedToCommonStockRepurchaseAndTaxWithholdingForShareBasedCompensation" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Repurchases of common stock and employee tax withholdings </link:label>
<link:label id="lab_ms_PaymentsRelatedToCommonStockRepurchaseAndTaxWithholdingForShareBasedCompensation_8129b0c9-b8c0-421d-b5d7-f388efde1d66_negatedTerseLabel_en-US" xlink:label="lab_ms_PaymentsRelatedToCommonStockRepurchaseAndTaxWithholdingForShareBasedCompensation" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Payments for repurchases of common stock and employee tax withholdings </link:label>
<link:label id="lab_ms_PaymentsRelatedToCommonStockRepurchaseAndTaxWithholdingForShareBasedCompensation_label_en-US" xlink:label="lab_ms_PaymentsRelatedToCommonStockRepurchaseAndTaxWithholdingForShareBasedCompensation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Payments Related to Common Stock Repurchase and Tax Withholding for Share-based Compensation </link:label>
<link:label id="lab_ms_PaymentsRelatedToCommonStockRepurchaseAndTaxWithholdingForShareBasedCompensation_documentation_en-US" xlink:label="lab_ms_PaymentsRelatedToCommonStockRepurchaseAndTaxWithholdingForShareBasedCompensation" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Amount of cash outflow to reacquire common stock and satisfy an employee's income tax withholding obligation as part of a net-share settlement of a share-based award. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_PaymentsRelatedToCommonStockRepurchaseAndTaxWithholdingForShareBasedCompensation" xlink:href="ms-20231231.xsd#ms_PaymentsRelatedToCommonStockRepurchaseAndTaxWithholdingForShareBasedCompensation"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_PaymentsRelatedToCommonStockRepurchaseAndTaxWithholdingForShareBasedCompensation" xlink:to="lab_ms_PaymentsRelatedToCommonStockRepurchaseAndTaxWithholdingForShareBasedCompensation" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_OtherCommitmentDueInFourthAndFifthYear_19ff7236-cc10-4f71-a4f4-d411ca36fac6_terseLabel_en-US" xlink:label="lab_us-gaap_OtherCommitmentDueInFourthAndFifthYear" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> 3-5 (years) </link:label>
<link:label id="lab_us-gaap_OtherCommitmentDueInFourthAndFifthYear_label_en-US" xlink:label="lab_us-gaap_OtherCommitmentDueInFourthAndFifthYear" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other Commitment, to be Paid, Year Four and Five </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherCommitmentDueInFourthAndFifthYear" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OtherCommitmentDueInFourthAndFifthYear"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherCommitmentDueInFourthAndFifthYear" xlink:to="lab_us-gaap_OtherCommitmentDueInFourthAndFifthYear" xlink:type="arc" order="1"/>
<link:label id="lab_ms_ValuationTechniqueMarginLoanMember_80a0e83a-f1f2-42e6-b50d-1df6c81ba76a_terseLabel_en-US" xlink:label="lab_ms_ValuationTechniqueMarginLoanMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Margin Loan Model </link:label>
<link:label id="lab_ms_ValuationTechniqueMarginLoanMember_label_en-US" xlink:label="lab_ms_ValuationTechniqueMarginLoanMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Valuation Technique, Margin Loan [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_ValuationTechniqueMarginLoanMember" xlink:href="ms-20231231.xsd#ms_ValuationTechniqueMarginLoanMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_ValuationTechniqueMarginLoanMember" xlink:to="lab_ms_ValuationTechniqueMarginLoanMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_LongtermDebtTypeDomain_457c3c5a-15dc-45f1-8fbe-e93b7884c53f_terseLabel_en-US" xlink:label="lab_us-gaap_LongtermDebtTypeDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Long-term Debt, Type [Domain] </link:label>
<link:label id="lab_us-gaap_LongtermDebtTypeDomain_label_en-US" xlink:label="lab_us-gaap_LongtermDebtTypeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Long-Term Debt, Type [Domain] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongtermDebtTypeDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LongtermDebtTypeDomain"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongtermDebtTypeDomain" xlink:to="lab_us-gaap_LongtermDebtTypeDomain" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_LossContingenciesTable_b7319487-5e95-4318-b709-fd79190bf044_terseLabel_en-US" xlink:label="lab_us-gaap_LossContingenciesTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Loss Contingencies [Table] </link:label>
<link:label id="lab_us-gaap_LossContingenciesTable_label_en-US" xlink:label="lab_us-gaap_LossContingenciesTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Loss Contingencies [Table] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LossContingenciesTable" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LossContingenciesTable"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LossContingenciesTable" xlink:to="lab_us-gaap_LossContingenciesTable" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DerivativeAssetNotSubjectToMasterNettingArrangement_7da58f28-ce37-4586-a5c4-d5c5cdce5f0d_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeAssetNotSubjectToMasterNettingArrangement" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Net amounts for which master netting or collateral agreements are not in place or may not be legally enforceable </link:label>
<link:label id="lab_us-gaap_DerivativeAssetNotSubjectToMasterNettingArrangement_label_en-US" xlink:label="lab_us-gaap_DerivativeAssetNotSubjectToMasterNettingArrangement" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative Asset, Not Subject to Master Netting Arrangement </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeAssetNotSubjectToMasterNettingArrangement" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DerivativeAssetNotSubjectToMasterNettingArrangement"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeAssetNotSubjectToMasterNettingArrangement" xlink:to="lab_us-gaap_DerivativeAssetNotSubjectToMasterNettingArrangement" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock_a73d7500-4f6c-471b-aaff-86fd31892754_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Vested and Unvested RSU Activity </link:label>
<link:label id="lab_us-gaap_ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Share-Based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock" xlink:to="lab_us-gaap_ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_AccumulatedNetUnrealizedInvestmentGainLossMember_39de7ff0-312a-466b-8111-5c6735ef7b26_verboseLabel_en-US" xlink:label="lab_us-gaap_AccumulatedNetUnrealizedInvestmentGainLossMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> AFS  Securities </link:label>
<link:label id="lab_us-gaap_AccumulatedNetUnrealizedInvestmentGainLossMember_55978b2b-6406-4a7d-9399-dadb6f6ea86c_terseLabel_en-US" xlink:label="lab_us-gaap_AccumulatedNetUnrealizedInvestmentGainLossMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Change in Net Unrealized Gains (Losses) on AFS Securities Attributable to Parent </link:label>
<link:label id="lab_us-gaap_AccumulatedNetUnrealizedInvestmentGainLossMember_label_en-US" xlink:label="lab_us-gaap_AccumulatedNetUnrealizedInvestmentGainLossMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-Sale, Parent [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccumulatedNetUnrealizedInvestmentGainLossMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AccumulatedNetUnrealizedInvestmentGainLossMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccumulatedNetUnrealizedInvestmentGainLossMember" xlink:to="lab_us-gaap_AccumulatedNetUnrealizedInvestmentGainLossMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_InternalNoninvestmentGradeMember_4745b5b1-ce68-4370-8e83-a849f744f16c_terseLabel_en-US" xlink:label="lab_us-gaap_InternalNoninvestmentGradeMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Non-investment grade </link:label>
<link:label id="lab_us-gaap_InternalNoninvestmentGradeMember_label_en-US" xlink:label="lab_us-gaap_InternalNoninvestmentGradeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Internal Noninvestment Grade [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_InternalNoninvestmentGradeMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_InternalNoninvestmentGradeMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InternalNoninvestmentGradeMember" xlink:to="lab_us-gaap_InternalNoninvestmentGradeMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions_0ce0c663-9cdf-4569-b946-749b153c1ad4_negatedLabel_en-US" xlink:label="lab_us-gaap_UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Decreases based on tax positions related to prior periods </link:label>
<link:label id="lab_us-gaap_UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions_label_en-US" xlink:label="lab_us-gaap_UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Unrecognized Tax Benefits, Decrease Resulting from Prior Period Tax Positions </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions"/>
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<link:label id="lab_dei_EntityShellCompany_86aa58f1-9a02-4dcb-84c5-a51d9bff357d_terseLabel_en-US" xlink:label="lab_dei_EntityShellCompany" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Entity Shell Company </link:label>
<link:label id="lab_dei_EntityShellCompany_label_en-US" xlink:label="lab_dei_EntityShellCompany" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Entity Shell Company </link:label>
<link:loc xlink:type="locator" xlink:label="loc_dei_EntityShellCompany" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityShellCompany"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityShellCompany" xlink:to="lab_dei_EntityShellCompany" xlink:type="arc" order="1"/>
<link:label id="lab_ms_DueFromEmployeesGross_942bc9f7-ce58-48f9-8b1e-ece5272649d6_terseLabel_en-US" xlink:label="lab_ms_DueFromEmployeesGross" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Employee loans </link:label>
<link:label id="lab_ms_DueFromEmployeesGross_label_en-US" xlink:label="lab_ms_DueFromEmployeesGross" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Due From Employees, Gross </link:label>
<link:label id="lab_ms_DueFromEmployeesGross_documentation_en-US" xlink:label="lab_ms_DueFromEmployeesGross" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Due From Employees, Gross </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_DueFromEmployeesGross" xlink:href="ms-20231231.xsd#ms_DueFromEmployeesGross"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_DueFromEmployeesGross" xlink:to="lab_ms_DueFromEmployeesGross" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ProceedsFromPaymentsForInSecuritiesSoldUnderAgreementsToRepurchase_84256a8d-1ec1-44e0-91a6-aec3224dd184_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromPaymentsForInSecuritiesSoldUnderAgreementsToRepurchase" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Securities sold under agreements to repurchase with affiliates </link:label>
<link:label id="lab_us-gaap_ProceedsFromPaymentsForInSecuritiesSoldUnderAgreementsToRepurchase_label_en-US" xlink:label="lab_us-gaap_ProceedsFromPaymentsForInSecuritiesSoldUnderAgreementsToRepurchase" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Proceeds from (Payments for) in Securities Sold under Agreements to Repurchase </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromPaymentsForInSecuritiesSoldUnderAgreementsToRepurchase" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ProceedsFromPaymentsForInSecuritiesSoldUnderAgreementsToRepurchase"/>
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<link:label id="lab_us-gaap_AccumulatedDefinedBenefitPlansAdjustmentAttributableToNoncontrollingInterestMember_17cbfbe6-3a71-466b-b996-c5f19a9aff5d_terseLabel_en-US" xlink:label="lab_us-gaap_AccumulatedDefinedBenefitPlansAdjustmentAttributableToNoncontrollingInterestMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Pension and Other Attributable to Noncontrolling Interest </link:label>
<link:label id="lab_us-gaap_AccumulatedDefinedBenefitPlansAdjustmentAttributableToNoncontrollingInterestMember_label_en-US" xlink:label="lab_us-gaap_AccumulatedDefinedBenefitPlansAdjustmentAttributableToNoncontrollingInterestMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Accumulated Defined Benefit Plans Adjustment Attributable to Noncontrolling Interest [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccumulatedDefinedBenefitPlansAdjustmentAttributableToNoncontrollingInterestMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AccumulatedDefinedBenefitPlansAdjustmentAttributableToNoncontrollingInterestMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccumulatedDefinedBenefitPlansAdjustmentAttributableToNoncontrollingInterestMember" xlink:to="lab_us-gaap_AccumulatedDefinedBenefitPlansAdjustmentAttributableToNoncontrollingInterestMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ScheduleOfFinancingReceivableAllowanceForCreditLossesTable_f8f8c6bb-1f01-4b5a-9804-dcc923abb280_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfFinancingReceivableAllowanceForCreditLossesTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financing Receivable, Allowance for Credit Loss [Table] </link:label>
<link:label id="lab_us-gaap_ScheduleOfFinancingReceivableAllowanceForCreditLossesTable_label_en-US" xlink:label="lab_us-gaap_ScheduleOfFinancingReceivableAllowanceForCreditLossesTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financing Receivable, Allowance for Credit Loss [Table] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfFinancingReceivableAllowanceForCreditLossesTable" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfFinancingReceivableAllowanceForCreditLossesTable"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfFinancingReceivableAllowanceForCreditLossesTable" xlink:to="lab_us-gaap_ScheduleOfFinancingReceivableAllowanceForCreditLossesTable" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_e4c678e4-a7ad-4914-a888-a652a9ae3cbf_periodStartLabel_en-US" xlink:label="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Cash and cash equivalents, at beginning of period </link:label>
<link:label id="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_f392896b-982b-4e9d-b1d9-58bf35b32440_periodEndLabel_en-US" xlink:label="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Cash and cash equivalents, at end of period </link:label>
<link:label id="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_label_en-US" xlink:label="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:to="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_InvestmentBankingRevenue_f18be0e3-3cac-4e89-912d-e927c13780eb_terseLabel_en-US" xlink:label="lab_us-gaap_InvestmentBankingRevenue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Investment banking </link:label>
<link:label id="lab_us-gaap_InvestmentBankingRevenue_label_en-US" xlink:label="lab_us-gaap_InvestmentBankingRevenue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Investment Banking Revenue </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_InvestmentBankingRevenue" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_InvestmentBankingRevenue"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InvestmentBankingRevenue" xlink:to="lab_us-gaap_InvestmentBankingRevenue" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ScheduleOfAccumulatedBenefitObligationsInExcessOfFairValueOfPlanAssetsTableTextBlock_794bbe55-df3c-46fd-b7d3-6e24dde9eb18_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfAccumulatedBenefitObligationsInExcessOfFairValueOfPlanAssetsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Pension Plans with Benefit Obligations in Excess of the Fair Value of Plan Assets </link:label>
<link:label id="lab_us-gaap_ScheduleOfAccumulatedBenefitObligationsInExcessOfFairValueOfPlanAssetsTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfAccumulatedBenefitObligationsInExcessOfFairValueOfPlanAssetsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfAccumulatedBenefitObligationsInExcessOfFairValueOfPlanAssetsTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfAccumulatedBenefitObligationsInExcessOfFairValueOfPlanAssetsTableTextBlock"/>
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<link:label id="lab_us-gaap_OperatingLeaseCost_6bbd7657-ba99-4297-b999-b38c0e22f6e8_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeaseCost" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fixed costs </link:label>
<link:label id="lab_us-gaap_OperatingLeaseCost_label_en-US" xlink:label="lab_us-gaap_OperatingLeaseCost" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Operating Lease, Cost </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingLeaseCost" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OperatingLeaseCost"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingLeaseCost" xlink:to="lab_us-gaap_OperatingLeaseCost" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_CommonStockSharesIssued_c688c9bf-92c8-436c-9396-8be976a4ce25_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockSharesIssued" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Common stock issued (in shares) </link:label>
<link:label id="lab_us-gaap_CommonStockSharesIssued_label_en-US" xlink:label="lab_us-gaap_CommonStockSharesIssued" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Common Stock, Shares, Issued </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockSharesIssued" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CommonStockSharesIssued"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockSharesIssued" xlink:to="lab_us-gaap_CommonStockSharesIssued" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_10a0ac4e-84bd-499e-a639-ccb51fb17e83_negatedLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Vested (in shares) </link:label>
<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod"/>
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<link:label id="lab_ms_CommonStockOutstandingRollForward_ed916d06-eb67-4f37-8f12-d35f9180d27c_terseLabel_en-US" xlink:label="lab_ms_CommonStockOutstandingRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Common Stock Outstanding [Roll Forward] </link:label>
<link:label id="lab_ms_CommonStockOutstandingRollForward_label_en-US" xlink:label="lab_ms_CommonStockOutstandingRollForward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Common Stock Outstanding [Roll Forward] </link:label>
<link:label id="lab_ms_CommonStockOutstandingRollForward_documentation_en-US" xlink:label="lab_ms_CommonStockOutstandingRollForward" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Common Stock Outstanding [Roll Forward] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_CommonStockOutstandingRollForward" xlink:href="ms-20231231.xsd#ms_CommonStockOutstandingRollForward"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_CommonStockOutstandingRollForward" xlink:to="lab_ms_CommonStockOutstandingRollForward" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_OverTheCounterMember_78dba869-f7f0-41c2-b957-959b9cf09c7a_verboseLabel_en-US" xlink:label="lab_us-gaap_OverTheCounterMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Bilateral OTC </link:label>
<link:label id="lab_us-gaap_OverTheCounterMember_label_en-US" xlink:label="lab_us-gaap_OverTheCounterMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Over-the-Counter [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OverTheCounterMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OverTheCounterMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OverTheCounterMember" xlink:to="lab_us-gaap_OverTheCounterMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingLoss_9f5acbfb-a239-40b0-a664-55943f16b610_terseLabel_en-US" xlink:label="lab_us-gaap_HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingLoss" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Gross Unrealized Losses </link:label>
<link:label id="lab_us-gaap_HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingLoss_label_en-US" xlink:label="lab_us-gaap_HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt Securities, Held-to-Maturity, Accumulated Unrecognized Loss </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingLoss" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingLoss"/>
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<link:label id="lab_us-gaap_DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss_6fd87a9a-85d1-4ff3-ade8-5406c14ec493_totalLabel_en-US" xlink:label="lab_us-gaap_DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> AFS: Gross Unrealized Losses, Total </link:label>
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<link:label id="lab_us-gaap_AssetsFairValueDisclosure_c8a91ccc-e394-4048-9d0b-c08d32835c87_verboseLabel_en-US" xlink:label="lab_us-gaap_AssetsFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Total </link:label>
<link:label id="lab_us-gaap_AssetsFairValueDisclosure_label_en-US" xlink:label="lab_us-gaap_AssetsFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Assets, Fair Value Disclosure </link:label>
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<link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_93921c7d-704d-4d9f-bde9-301a3c09833e_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Year 4 </link:label>
<link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_label_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Long-Term Debt, Maturity, Year Four </link:label>
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<link:label id="lab_ms_RevenueFromContractWithCustomerPerformanceObligationsFullyOrPartiallySatisfiedInPriorPeriods_314cd8e5-edb4-4809-a8d3-2e27ccfe107c_terseLabel_en-US" xlink:label="lab_ms_RevenueFromContractWithCustomerPerformanceObligationsFullyOrPartiallySatisfiedInPriorPeriods" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Non-interest revenues </link:label>
<link:label id="lab_ms_RevenueFromContractWithCustomerPerformanceObligationsFullyOrPartiallySatisfiedInPriorPeriods_label_en-US" xlink:label="lab_ms_RevenueFromContractWithCustomerPerformanceObligationsFullyOrPartiallySatisfiedInPriorPeriods" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Revenue from Contract with Customer, Performance Obligations Fully or Partially Satisfied in Prior Periods </link:label>
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<link:label id="lab_ms_TierOneRiskBasedCommonCapitalRequiredForCapitalAdequacyToRiskWeightedAssetsAdvanced_29e56a3a-3d09-4f52-bc47-45e539c416cf_terseLabel_en-US" xlink:label="lab_ms_TierOneRiskBasedCommonCapitalRequiredForCapitalAdequacyToRiskWeightedAssetsAdvanced" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Advanced (as a percent) </link:label>
<link:label id="lab_ms_TierOneRiskBasedCommonCapitalRequiredForCapitalAdequacyToRiskWeightedAssetsAdvanced_label_en-US" xlink:label="lab_ms_TierOneRiskBasedCommonCapitalRequiredForCapitalAdequacyToRiskWeightedAssetsAdvanced" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Tier One Risk Based Common Capital Required for Capital Adequacy to Risk Weighted Assets, Advanced </link:label>
<link:label id="lab_ms_TierOneRiskBasedCommonCapitalRequiredForCapitalAdequacyToRiskWeightedAssetsAdvanced_documentation_en-US" xlink:label="lab_ms_TierOneRiskBasedCommonCapitalRequiredForCapitalAdequacyToRiskWeightedAssetsAdvanced" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Tier One Risk Based Common Capital Required for Capital Adequacy to Risk Weighted Assets, Advanced </link:label>
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<link:label id="lab_ms_InvestmentsInNonUsDollarFunctionalCurrencySubsidiariesSubjectToHedges_aa88240d-2c4c-4e2e-a0e0-b4a323cc29ac_terseLabel_en-US" xlink:label="lab_ms_InvestmentsInNonUsDollarFunctionalCurrencySubsidiariesSubjectToHedges" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Carrying value of net investments in non-U.S. dollar functional currency subsidiaries subject to hedges </link:label>
<link:label id="lab_ms_InvestmentsInNonUsDollarFunctionalCurrencySubsidiariesSubjectToHedges_label_en-US" xlink:label="lab_ms_InvestmentsInNonUsDollarFunctionalCurrencySubsidiariesSubjectToHedges" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Investments in Non-U.S. Dollar Functional Currency Subsidiaries Subject to Hedges </link:label>
<link:label id="lab_ms_InvestmentsInNonUsDollarFunctionalCurrencySubsidiariesSubjectToHedges_documentation_en-US" xlink:label="lab_ms_InvestmentsInNonUsDollarFunctionalCurrencySubsidiariesSubjectToHedges" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Investments in Non-U.S. dollar functional currency subsidiaries subject to hedges. </link:label>
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<link:label id="lab_us-gaap_FinancingReceivablePortfolioSegmentDomain_e12a4643-73c4-4804-a92b-bf6bf266a562_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivablePortfolioSegmentDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financing Receivable Portfolio Segment [Domain] </link:label>
<link:label id="lab_us-gaap_FinancingReceivablePortfolioSegmentDomain_label_en-US" xlink:label="lab_us-gaap_FinancingReceivablePortfolioSegmentDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financing Receivable Portfolio Segment [Domain] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivablePortfolioSegmentDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FinancingReceivablePortfolioSegmentDomain"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivablePortfolioSegmentDomain" xlink:to="lab_us-gaap_FinancingReceivablePortfolioSegmentDomain" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_BankingRegulationCommonEquityTierOneRiskBasedCapitalRatioCapitalAdequacyMinimum_8a098d58-8374-48d4-a8f6-29f431018b52_terseLabel_en-US" xlink:label="lab_us-gaap_BankingRegulationCommonEquityTierOneRiskBasedCapitalRatioCapitalAdequacyMinimum" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Regulatory Minimum (as a percent) </link:label>
<link:label id="lab_us-gaap_BankingRegulationCommonEquityTierOneRiskBasedCapitalRatioCapitalAdequacyMinimum_label_en-US" xlink:label="lab_us-gaap_BankingRegulationCommonEquityTierOneRiskBasedCapitalRatioCapitalAdequacyMinimum" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Banking Regulation, Common Equity Tier 1 Risk-Based Capital Ratio, Capital Adequacy, Minimum </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_BankingRegulationCommonEquityTierOneRiskBasedCapitalRatioCapitalAdequacyMinimum" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_BankingRegulationCommonEquityTierOneRiskBasedCapitalRatioCapitalAdequacyMinimum"/>
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<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_50d96e33-919a-4ccd-bc03-199545b4f3ea_periodStartLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> RSUs at beginning of period (in shares) </link:label>
<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_4cd1f784-e3f4-4a06-9409-151fcc8790db_periodEndLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> RSUs at end of period (in shares) </link:label>
<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_2476ef77-c666-4c43-9bcc-c117b1550a61_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> PSUs outstanding (in shares) </link:label>
<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Outstanding, Number </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber"/>
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<link:label id="lab_us-gaap_StockIssuedDuringPeriodValueAcquisitions_d30ac89e-90e6-46a4-a1cc-da80fbc29c8e_terseLabel_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodValueAcquisitions" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Issuance of common stock for the acquisition of Eaton Vance </link:label>
<link:label id="lab_us-gaap_StockIssuedDuringPeriodValueAcquisitions_label_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodValueAcquisitions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Stock Issued During Period, Value, Acquisitions </link:label>
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<link:label id="lab_us-gaap_GoodwillImpairedAccumulatedImpairmentLossAbstract_d9b60fe5-6790-457a-8f01-7286353e4a24_terseLabel_en-US" xlink:label="lab_us-gaap_GoodwillImpairedAccumulatedImpairmentLossAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Goodwill, Impaired, Accumulated Impairment Loss </link:label>
<link:label id="lab_us-gaap_GoodwillImpairedAccumulatedImpairmentLossAbstract_label_en-US" xlink:label="lab_us-gaap_GoodwillImpairedAccumulatedImpairmentLossAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Goodwill, Impaired, Accumulated Impairment Loss [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_GoodwillImpairedAccumulatedImpairmentLossAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_GoodwillImpairedAccumulatedImpairmentLossAbstract"/>
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<link:label id="lab_us-gaap_FinancialInstrumentsOwnedAndPledgedAsCollateralTable_eadb98c7-539b-48dc-8a3f-7807bbc20884_terseLabel_en-US" xlink:label="lab_us-gaap_FinancialInstrumentsOwnedAndPledgedAsCollateralTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financial Instruments Owned and Pledged as Collateral [Table] </link:label>
<link:label id="lab_us-gaap_FinancialInstrumentsOwnedAndPledgedAsCollateralTable_label_en-US" xlink:label="lab_us-gaap_FinancialInstrumentsOwnedAndPledgedAsCollateralTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financial Instruments Owned and Pledged as Collateral [Table] </link:label>
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<link:label id="lab_us-gaap_ComponentsOfDeferredTaxAssetsAndLiabilitiesAbstract_f99d46d0-9a9b-4331-ad09-a76b929b68d4_terseLabel_en-US" xlink:label="lab_us-gaap_ComponentsOfDeferredTaxAssetsAndLiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Components of Deferred Tax Assets and Liabilities </link:label>
<link:label id="lab_us-gaap_ComponentsOfDeferredTaxAssetsAndLiabilitiesAbstract_label_en-US" xlink:label="lab_us-gaap_ComponentsOfDeferredTaxAssetsAndLiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Components of Deferred Tax Assets and Liabilities [Abstract] </link:label>
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<link:label id="lab_us-gaap_FairValueOptionQuantitativeDisclosuresLineItems_f580c9bb-2b02-4248-ab84-8816d6acc4a1_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueOptionQuantitativeDisclosuresLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value Option Quantitative Disclosures </link:label>
<link:label id="lab_us-gaap_FairValueOptionQuantitativeDisclosuresLineItems_label_en-US" xlink:label="lab_us-gaap_FairValueOptionQuantitativeDisclosuresLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value, Option, Quantitative Disclosures [Line Items] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueOptionQuantitativeDisclosuresLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueOptionQuantitativeDisclosuresLineItems"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueOptionQuantitativeDisclosuresLineItems" xlink:to="lab_us-gaap_FairValueOptionQuantitativeDisclosuresLineItems" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_Capital_ac0b119a-432b-4ea9-ad6e-b7110f4390f7_terseLabel_en-US" xlink:label="lab_us-gaap_Capital" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Total capital </link:label>
<link:label id="lab_us-gaap_Capital_label_en-US" xlink:label="lab_us-gaap_Capital" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Banking Regulation, Total Capital, Actual </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_Capital" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_Capital"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Capital" xlink:to="lab_us-gaap_Capital" xlink:type="arc" order="1"/>
<link:label id="lab_ms_OffBalanceSheetLoanCommitmentsAllowanceForCreditExposuresOtherIncreaseDecrease_c549fef4-510e-4904-a98e-e440a2835f87_negatedTerseLabel_en-US" xlink:label="lab_ms_OffBalanceSheetLoanCommitmentsAllowanceForCreditExposuresOtherIncreaseDecrease" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other </link:label>
<link:label id="lab_ms_OffBalanceSheetLoanCommitmentsAllowanceForCreditExposuresOtherIncreaseDecrease_label_en-US" xlink:label="lab_ms_OffBalanceSheetLoanCommitmentsAllowanceForCreditExposuresOtherIncreaseDecrease" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Off-balance-sheet Loan Commitments, Allowance for Credit Exposures, Other Increase (Decrease) </link:label>
<link:label id="lab_ms_OffBalanceSheetLoanCommitmentsAllowanceForCreditExposuresOtherIncreaseDecrease_documentation_en-US" xlink:label="lab_ms_OffBalanceSheetLoanCommitmentsAllowanceForCreditExposuresOtherIncreaseDecrease" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other increase (decrease) in the allowance for credit exposures on off-balance-sheet loan commitments. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_OffBalanceSheetLoanCommitmentsAllowanceForCreditExposuresOtherIncreaseDecrease" xlink:href="ms-20231231.xsd#ms_OffBalanceSheetLoanCommitmentsAllowanceForCreditExposuresOtherIncreaseDecrease"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_OffBalanceSheetLoanCommitmentsAllowanceForCreditExposuresOtherIncreaseDecrease" xlink:to="lab_ms_OffBalanceSheetLoanCommitmentsAllowanceForCreditExposuresOtherIncreaseDecrease" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock_043ba812-6c73-44f9-861b-dd057c5efc12_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Gross Amortizable Intangible Assets by Type </link:label>
<link:label id="lab_us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Finite-Lived Intangible Assets [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock" xlink:to="lab_us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_IncomeStatementAbstract_796c6a64-52cf-45e8-892d-37ede9ef08f8_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeStatementAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Income Statement [Abstract] </link:label>
<link:label id="lab_us-gaap_IncomeStatementAbstract_label_en-US" xlink:label="lab_us-gaap_IncomeStatementAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Income Statement [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeStatementAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_IncomeStatementAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeStatementAbstract" xlink:to="lab_us-gaap_IncomeStatementAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_ms_CreditDerivativePurchasedCreditProtectionNotionalAmount_fc0888f8-62ea-441e-9d56-7952c017a868_terseLabel_en-US" xlink:label="lab_ms_CreditDerivativePurchasedCreditProtectionNotionalAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> CDS protection sold with identical protection purchased </link:label>
<link:label id="lab_ms_CreditDerivativePurchasedCreditProtectionNotionalAmount_label_en-US" xlink:label="lab_ms_CreditDerivativePurchasedCreditProtectionNotionalAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Credit Derivative, Purchased Credit Protection, Notional Amount </link:label>
<link:label id="lab_ms_CreditDerivativePurchasedCreditProtectionNotionalAmount_documentation_en-US" xlink:label="lab_ms_CreditDerivativePurchasedCreditProtectionNotionalAmount" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Notional amount of purchased credit protection expected to cover future payments under the credit risk derivative. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_CreditDerivativePurchasedCreditProtectionNotionalAmount" xlink:href="ms-20231231.xsd#ms_CreditDerivativePurchasedCreditProtectionNotionalAmount"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_CreditDerivativePurchasedCreditProtectionNotionalAmount" xlink:to="lab_ms_CreditDerivativePurchasedCreditProtectionNotionalAmount" xlink:type="arc" order="1"/>
<link:label id="lab_ms_MeasurementInputContingencyProbabilityMember_6065a05e-30ff-48be-bf55-b89b4e5e4ff3_terseLabel_en-US" xlink:label="lab_ms_MeasurementInputContingencyProbabilityMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Contingency Probability </link:label>
<link:label id="lab_ms_MeasurementInputContingencyProbabilityMember_label_en-US" xlink:label="lab_ms_MeasurementInputContingencyProbabilityMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Measurement Input, Contingency Probability [Member] </link:label>
<link:label id="lab_ms_MeasurementInputContingencyProbabilityMember_documentation_en-US" xlink:label="lab_ms_MeasurementInputContingencyProbabilityMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Measurement input using probability associated with the realization of an underlying event upon which the value of an asset is contingent. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_MeasurementInputContingencyProbabilityMember" xlink:href="ms-20231231.xsd#ms_MeasurementInputContingencyProbabilityMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_MeasurementInputContingencyProbabilityMember" xlink:to="lab_ms_MeasurementInputContingencyProbabilityMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_CashAndCashEquivalentsFairValueDisclosure_1a7b037b-34e8-4f06-8a05-40eef0c92d2c_terseLabel_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Cash and cash equivalents </link:label>
<link:label id="lab_us-gaap_CashAndCashEquivalentsFairValueDisclosure_label_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Cash and Cash Equivalents, Fair Value Disclosure </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashAndCashEquivalentsFairValueDisclosure" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CashAndCashEquivalentsFairValueDisclosure"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashAndCashEquivalentsFairValueDisclosure" xlink:to="lab_us-gaap_CashAndCashEquivalentsFairValueDisclosure" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_OtherComprehensiveIncomeLossBeforeReclassificationsTax_c93f5065-2359-4be7-b1e2-b6c710b6d57d_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossBeforeReclassificationsTax" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> OCI activity </link:label>
<link:label id="lab_us-gaap_OtherComprehensiveIncomeLossBeforeReclassificationsTax_label_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossBeforeReclassificationsTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other Comprehensive Income (Loss) before Reclassifications, Tax </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossBeforeReclassificationsTax" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OtherComprehensiveIncomeLossBeforeReclassificationsTax"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherComprehensiveIncomeLossBeforeReclassificationsTax" xlink:to="lab_us-gaap_OtherComprehensiveIncomeLossBeforeReclassificationsTax" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DerivativeLiabilities_637cb753-7a77-4aec-9394-4c1e63588120_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative and other contracts </link:label>
<link:label id="lab_us-gaap_DerivativeLiabilities_c4756c36-a02c-4a47-bbdf-e903fc281103_totalLabel_en-US" xlink:label="lab_us-gaap_DerivativeLiabilities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Total in Trading liabilities </link:label>
<link:label id="lab_us-gaap_DerivativeLiabilities_9571bbb5-d53c-4a4a-a9e9-a03771268ab3_verboseLabel_en-US" xlink:label="lab_us-gaap_DerivativeLiabilities" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative liabilities </link:label>
<link:label id="lab_us-gaap_DerivativeLiabilities_label_en-US" xlink:label="lab_us-gaap_DerivativeLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative Liability </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeLiabilities" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DerivativeLiabilities"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeLiabilities" xlink:to="lab_us-gaap_DerivativeLiabilities" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_OtherCommitmentDueInNextTwelveMonths_6cbfd083-3b26-4df9-82d5-4e57c9f132ce_terseLabel_en-US" xlink:label="lab_us-gaap_OtherCommitmentDueInNextTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Less than 1 (year) </link:label>
<link:label id="lab_us-gaap_OtherCommitmentDueInNextTwelveMonths_label_en-US" xlink:label="lab_us-gaap_OtherCommitmentDueInNextTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other Commitment, to be Paid, Year One </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherCommitmentDueInNextTwelveMonths" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OtherCommitmentDueInNextTwelveMonths"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherCommitmentDueInNextTwelveMonths" xlink:to="lab_us-gaap_OtherCommitmentDueInNextTwelveMonths" xlink:type="arc" order="1"/>
<link:label id="lab_ms_AccruedPerformanceFees_b24e04fd-eef8-4eb7-b90b-3030f8d5f83d_terseLabel_en-US" xlink:label="lab_ms_AccruedPerformanceFees" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Net cumulative unrealized performance-based fees at risk of reversing </link:label>
<link:label id="lab_ms_AccruedPerformanceFees_label_en-US" xlink:label="lab_ms_AccruedPerformanceFees" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Accrued Performance Fees </link:label>
<link:label id="lab_ms_AccruedPerformanceFees_documentation_en-US" xlink:label="lab_ms_AccruedPerformanceFees" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Amount of accrued revenue earned by the entity based on the investment results achieved, net of any reversals. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_AccruedPerformanceFees" xlink:href="ms-20231231.xsd#ms_AccruedPerformanceFees"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_AccruedPerformanceFees" xlink:to="lab_ms_AccruedPerformanceFees" xlink:type="arc" order="1"/>
<link:label id="lab_ms_OtherInvestmentsFairValueDisclosure_f593315a-05d4-4367-819b-33efba2b0829_terseLabel_en-US" xlink:label="lab_ms_OtherInvestmentsFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other assets—Other investments </link:label>
<link:label id="lab_ms_OtherInvestmentsFairValueDisclosure_label_en-US" xlink:label="lab_ms_OtherInvestmentsFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other Investments, Fair Value Disclosure </link:label>
<link:label id="lab_ms_OtherInvestmentsFairValueDisclosure_documentation_en-US" xlink:label="lab_ms_OtherInvestmentsFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair value portion of investments classified as other. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_OtherInvestmentsFairValueDisclosure" xlink:href="ms-20231231.xsd#ms_OtherInvestmentsFairValueDisclosure"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_OtherInvestmentsFairValueDisclosure" xlink:to="lab_ms_OtherInvestmentsFairValueDisclosure" xlink:type="arc" order="1"/>
<link:label id="lab_ms_PropertyPlantAndEquipmentAndCapitalizedSoftwareCostsMember_017d90d1-1278-4dd5-921c-209144749765_terseLabel_en-US" xlink:label="lab_ms_PropertyPlantAndEquipmentAndCapitalizedSoftwareCostsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other assets—Premises, equipment and software </link:label>
<link:label id="lab_ms_PropertyPlantAndEquipmentAndCapitalizedSoftwareCostsMember_label_en-US" xlink:label="lab_ms_PropertyPlantAndEquipmentAndCapitalizedSoftwareCostsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Property, Plant, and Equipment, and Capitalized Software Costs [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_PropertyPlantAndEquipmentAndCapitalizedSoftwareCostsMember" xlink:href="ms-20231231.xsd#ms_PropertyPlantAndEquipmentAndCapitalizedSoftwareCostsMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_PropertyPlantAndEquipmentAndCapitalizedSoftwareCostsMember" xlink:to="lab_ms_PropertyPlantAndEquipmentAndCapitalizedSoftwareCostsMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DefinedBenefitPlanAssetsForPlanBenefitsNoncurrent_9743ddf1-55ca-4957-9e22-5d94a46564fd_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanAssetsForPlanBenefitsNoncurrent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Assets </link:label>
<link:label id="lab_us-gaap_DefinedBenefitPlanAssetsForPlanBenefitsNoncurrent_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanAssetsForPlanBenefitsNoncurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Assets for Plan Benefits, Defined Benefit Plan </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanAssetsForPlanBenefitsNoncurrent" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DefinedBenefitPlanAssetsForPlanBenefitsNoncurrent"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanAssetsForPlanBenefitsNoncurrent" xlink:to="lab_us-gaap_DefinedBenefitPlanAssetsForPlanBenefitsNoncurrent" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_OtherCommitmentsDomain_4a891548-3675-43cb-b94b-dd71ff988af8_terseLabel_en-US" xlink:label="lab_us-gaap_OtherCommitmentsDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other Commitments [Domain] </link:label>
<link:label id="lab_us-gaap_OtherCommitmentsDomain_label_en-US" xlink:label="lab_us-gaap_OtherCommitmentsDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other Commitments [Domain] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherCommitmentsDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OtherCommitmentsDomain"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherCommitmentsDomain" xlink:to="lab_us-gaap_OtherCommitmentsDomain" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FairValueOptionLoansHeldAsAssetsAggregateDifference_379af69d-b357-4a67-b1c6-f00b32910fc5_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueOptionLoansHeldAsAssetsAggregateDifference" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Nonaccrual loans </link:label>
<link:label id="lab_us-gaap_FairValueOptionLoansHeldAsAssetsAggregateDifference_label_en-US" xlink:label="lab_us-gaap_FairValueOptionLoansHeldAsAssetsAggregateDifference" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value, Option, Loans Held as Assets, Aggregate Difference </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueOptionLoansHeldAsAssetsAggregateDifference" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueOptionLoansHeldAsAssetsAggregateDifference"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueOptionLoansHeldAsAssetsAggregateDifference" xlink:to="lab_us-gaap_FairValueOptionLoansHeldAsAssetsAggregateDifference" xlink:type="arc" order="1"/>
<link:label id="lab_ms_RetainedInterest_63603bfd-2cb2-40bf-8d44-f641905ed3eb_terseLabel_en-US" xlink:label="lab_ms_RetainedInterest" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Retained interests </link:label>
<link:label id="lab_ms_RetainedInterest_label_en-US" xlink:label="lab_ms_RetainedInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Retained Interest </link:label>
<link:label id="lab_ms_RetainedInterest_documentation_en-US" xlink:label="lab_ms_RetainedInterest" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> The carrying value of an interest continued to be held by the transferor in a securitized financial instrument. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_RetainedInterest" xlink:href="ms-20231231.xsd#ms_RetainedInterest"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_RetainedInterest" xlink:to="lab_ms_RetainedInterest" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DebtLongtermAndShorttermCombinedAmount_07db5db0-8e77-4602-bdc4-588c38bb552c_terseLabel_en-US" xlink:label="lab_us-gaap_DebtLongtermAndShorttermCombinedAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Borrowings (includes $93,900 and $78,720 at fair value) </link:label>
<link:label id="lab_us-gaap_DebtLongtermAndShorttermCombinedAmount_71f9ef3a-8cbb-4033-aa23-c6a02c0146d3_verboseLabel_en-US" xlink:label="lab_us-gaap_DebtLongtermAndShorttermCombinedAmount" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Borrowings </link:label>
<link:label id="lab_us-gaap_DebtLongtermAndShorttermCombinedAmount_06647d4e-c2c6-4e81-9f47-b74a7ace3b31_totalLabel_en-US" xlink:label="lab_us-gaap_DebtLongtermAndShorttermCombinedAmount" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Total </link:label>
<link:label id="lab_us-gaap_DebtLongtermAndShorttermCombinedAmount_label_en-US" xlink:label="lab_us-gaap_DebtLongtermAndShorttermCombinedAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt, Long-Term and Short-Term, Combined Amount </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtLongtermAndShorttermCombinedAmount" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DebtLongtermAndShorttermCombinedAmount"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtLongtermAndShorttermCombinedAmount" xlink:to="lab_us-gaap_DebtLongtermAndShorttermCombinedAmount" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_TierOneLeverageCapitalRequiredForCapitalAdequacyToAverageAssets_c172d333-9cf0-4773-a9da-2174063baf0a_terseLabel_en-US" xlink:label="lab_us-gaap_TierOneLeverageCapitalRequiredForCapitalAdequacyToAverageAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Tier 1 leverage (as a percent) </link:label>
<link:label id="lab_us-gaap_TierOneLeverageCapitalRequiredForCapitalAdequacyToAverageAssets_label_en-US" xlink:label="lab_us-gaap_TierOneLeverageCapitalRequiredForCapitalAdequacyToAverageAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Banking Regulation, Tier 1 Leverage Capital Ratio, Capital Adequacy, Minimum </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_TierOneLeverageCapitalRequiredForCapitalAdequacyToAverageAssets" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_TierOneLeverageCapitalRequiredForCapitalAdequacyToAverageAssets"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TierOneLeverageCapitalRequiredForCapitalAdequacyToAverageAssets" xlink:to="lab_us-gaap_TierOneLeverageCapitalRequiredForCapitalAdequacyToAverageAssets" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_RiskWeightedAssets_ca84f527-38d2-4598-99b8-e862f3698a97_terseLabel_en-US" xlink:label="lab_us-gaap_RiskWeightedAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Total RWA </link:label>
<link:label id="lab_us-gaap_RiskWeightedAssets_label_en-US" xlink:label="lab_us-gaap_RiskWeightedAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Banking Regulation, Risk-Weighted Assets, Actual </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_RiskWeightedAssets" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_RiskWeightedAssets"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RiskWeightedAssets" xlink:to="lab_us-gaap_RiskWeightedAssets" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_RetainedInterestFairValueDisclosure_01b788a0-3fdb-43f3-b0c8-fe1d1c496dd5_terseLabel_en-US" xlink:label="lab_us-gaap_RetainedInterestFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Retained interests </link:label>
<link:label id="lab_us-gaap_RetainedInterestFairValueDisclosure_label_en-US" xlink:label="lab_us-gaap_RetainedInterestFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Retained Interest, Fair Value Disclosure </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_RetainedInterestFairValueDisclosure" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_RetainedInterestFairValueDisclosure"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RetainedInterestFairValueDisclosure" xlink:to="lab_us-gaap_RetainedInterestFairValueDisclosure" xlink:type="arc" order="1"/>
<link:label id="lab_ms_SecuritiesBasedLendingMember_7837358f-a5b2-448b-b6ce-098edd439a3e_terseLabel_en-US" xlink:label="lab_ms_SecuritiesBasedLendingMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Securities-based lending </link:label>
<link:label id="lab_ms_SecuritiesBasedLendingMember_label_en-US" xlink:label="lab_ms_SecuritiesBasedLendingMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Securities-Based Lending [Member] </link:label>
<link:label id="lab_ms_SecuritiesBasedLendingMember_documentation_en-US" xlink:label="lab_ms_SecuritiesBasedLendingMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Securities-Based Lending [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_SecuritiesBasedLendingMember" xlink:href="ms-20231231.xsd#ms_SecuritiesBasedLendingMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_SecuritiesBasedLendingMember" xlink:to="lab_ms_SecuritiesBasedLendingMember" xlink:type="arc" order="1"/>
<link:label id="lab_srt_ArithmeticAverageMember_f263f535-c750-4c82-b715-43f567c12044_terseLabel_en-US" xlink:label="lab_srt_ArithmeticAverageMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Average </link:label>
<link:label id="lab_srt_ArithmeticAverageMember_label_en-US" xlink:label="lab_srt_ArithmeticAverageMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Arithmetic Average [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_srt_ArithmeticAverageMember" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_ArithmeticAverageMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_ArithmeticAverageMember" xlink:to="lab_srt_ArithmeticAverageMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DerivativeMember_d60f6e51-b1ae-4c52-b14f-72d2bc90e53c_verboseLabel_en-US" xlink:label="lab_us-gaap_DerivativeMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Non-credit derivatives </link:label>
<link:label id="lab_us-gaap_DerivativeMember_02d670cb-ef72-4b60-8ff9-a9d48268ef4d_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative contracts </link:label>
<link:label id="lab_us-gaap_DerivativeMember_label_en-US" xlink:label="lab_us-gaap_DerivativeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DerivativeMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeMember" xlink:to="lab_us-gaap_DerivativeMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DerivativeNetLiabilityPositionAggregateFairValue_0c573c7b-4cf5-439d-98cf-1b8bf2146407_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeNetLiabilityPositionAggregateFairValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Net derivative liabilities with credit risk-related contingent features </link:label>
<link:label id="lab_us-gaap_DerivativeNetLiabilityPositionAggregateFairValue_label_en-US" xlink:label="lab_us-gaap_DerivativeNetLiabilityPositionAggregateFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative, Net Liability Position, Aggregate Fair Value </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeNetLiabilityPositionAggregateFairValue" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DerivativeNetLiabilityPositionAggregateFairValue"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeNetLiabilityPositionAggregateFairValue" xlink:to="lab_us-gaap_DerivativeNetLiabilityPositionAggregateFairValue" xlink:type="arc" order="1"/>
<link:label id="lab_ms_MoreThanFiveYearsFromBalanceSheetDateMember_40af3cc4-cf26-4c56-abb9-ca3d8db53a0a_terseLabel_en-US" xlink:label="lab_ms_MoreThanFiveYearsFromBalanceSheetDateMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Over 5 (Years) </link:label>
<link:label id="lab_ms_MoreThanFiveYearsFromBalanceSheetDateMember_label_en-US" xlink:label="lab_ms_MoreThanFiveYearsFromBalanceSheetDateMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> More than Five Years from Balance Sheet Date [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_MoreThanFiveYearsFromBalanceSheetDateMember" xlink:href="ms-20231231.xsd#ms_MoreThanFiveYearsFromBalanceSheetDateMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_MoreThanFiveYearsFromBalanceSheetDateMember" xlink:to="lab_ms_MoreThanFiveYearsFromBalanceSheetDateMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_LoansAndLeasesReceivableNetReportedAmountAbstract_62bbc9bf-83fc-4d65-8509-844e19f6f881_terseLabel_en-US" xlink:label="lab_us-gaap_LoansAndLeasesReceivableNetReportedAmountAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Total Loans </link:label>
<link:label id="lab_us-gaap_LoansAndLeasesReceivableNetReportedAmountAbstract_label_en-US" xlink:label="lab_us-gaap_LoansAndLeasesReceivableNetReportedAmountAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Loans and Leases Receivable, Net Amount [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LoansAndLeasesReceivableNetReportedAmountAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LoansAndLeasesReceivableNetReportedAmountAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LoansAndLeasesReceivableNetReportedAmountAbstract" xlink:to="lab_us-gaap_LoansAndLeasesReceivableNetReportedAmountAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_ms_CommonStockIssuedToEmployeeTrustMember_ff3f2f14-fc75-4b78-8e67-cd7fd487ffd6_terseLabel_en-US" xlink:label="lab_ms_CommonStockIssuedToEmployeeTrustMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Common Stock Issued to Employee Stock Trusts </link:label>
<link:label id="lab_ms_CommonStockIssuedToEmployeeTrustMember_label_en-US" xlink:label="lab_ms_CommonStockIssuedToEmployeeTrustMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Common Stock Issued to Employee Trust [Member] </link:label>
<link:label id="lab_ms_CommonStockIssuedToEmployeeTrustMember_documentation_en-US" xlink:label="lab_ms_CommonStockIssuedToEmployeeTrustMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Common Stock Issued to Employee Trust. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_CommonStockIssuedToEmployeeTrustMember" xlink:href="ms-20231231.xsd#ms_CommonStockIssuedToEmployeeTrustMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_CommonStockIssuedToEmployeeTrustMember" xlink:to="lab_ms_CommonStockIssuedToEmployeeTrustMember" xlink:type="arc" order="1"/>
<link:label id="lab_srt_ScheduleOfCondensedBalanceSheetTableTextBlock_0a2a88e5-b9dc-47a3-918d-836dba6f7aea_terseLabel_en-US" xlink:label="lab_srt_ScheduleOfCondensedBalanceSheetTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Condensed Balance Sheets </link:label>
<link:label id="lab_srt_ScheduleOfCondensedBalanceSheetTableTextBlock_label_en-US" xlink:label="lab_srt_ScheduleOfCondensedBalanceSheetTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Condensed Balance Sheet [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_srt_ScheduleOfCondensedBalanceSheetTableTextBlock" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_ScheduleOfCondensedBalanceSheetTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_ScheduleOfCondensedBalanceSheetTableTextBlock" xlink:to="lab_srt_ScheduleOfCondensedBalanceSheetTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_ms_LongTermDebtFixedRateMember_6d5d4b21-978b-42dc-87b6-eb0ed0c7345c_terseLabel_en-US" xlink:label="lab_ms_LongTermDebtFixedRateMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fixed Rate </link:label>
<link:label id="lab_ms_LongTermDebtFixedRateMember_label_en-US" xlink:label="lab_ms_LongTermDebtFixedRateMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Long-term Debt, Fixed Rate [Member] </link:label>
<link:label id="lab_ms_LongTermDebtFixedRateMember_documentation_en-US" xlink:label="lab_ms_LongTermDebtFixedRateMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Long-term debt with fixed interest rate. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_LongTermDebtFixedRateMember" xlink:href="ms-20231231.xsd#ms_LongTermDebtFixedRateMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_LongTermDebtFixedRateMember" xlink:to="lab_ms_LongTermDebtFixedRateMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_VariableInterestEntityNotPrimaryBeneficiaryMember_2a1a218a-b179-4f57-aa39-91601a215d30_terseLabel_en-US" xlink:label="lab_us-gaap_VariableInterestEntityNotPrimaryBeneficiaryMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Variable Interest Entity, Not Primary Beneficiary </link:label>
<link:label id="lab_us-gaap_VariableInterestEntityNotPrimaryBeneficiaryMember_label_en-US" xlink:label="lab_us-gaap_VariableInterestEntityNotPrimaryBeneficiaryMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Variable Interest Entity, Not Primary Beneficiary [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_VariableInterestEntityNotPrimaryBeneficiaryMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_VariableInterestEntityNotPrimaryBeneficiaryMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_VariableInterestEntityNotPrimaryBeneficiaryMember" xlink:to="lab_us-gaap_VariableInterestEntityNotPrimaryBeneficiaryMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FairValueByFairValueHierarchyLevelAxis_9b869328-a1bb-46b3-8357-a7aa80ec39f5_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueByFairValueHierarchyLevelAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value Hierarchy and NAV [Axis] </link:label>
<link:label id="lab_us-gaap_FairValueByFairValueHierarchyLevelAxis_label_en-US" xlink:label="lab_us-gaap_FairValueByFairValueHierarchyLevelAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value Hierarchy and NAV [Axis] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueByFairValueHierarchyLevelAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueByFairValueHierarchyLevelAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueByFairValueHierarchyLevelAxis" xlink:to="lab_us-gaap_FairValueByFairValueHierarchyLevelAxis" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities_3e4904bd-874a-42be-bad8-1f3457968358_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Proceeds from paydowns and maturities </link:label>
<link:label id="lab_us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities_label_en-US" xlink:label="lab_us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Proceeds from Maturities, Prepayments and Calls of Held-to-Maturity Securities </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities" xlink:to="lab_us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_CapitalAccumulationPlans_32e4c41e-56eb-44a4-b86f-5d4235d0936c_terseLabel_en-US" xlink:label="lab_us-gaap_CapitalAccumulationPlans" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Employee stock trusts </link:label>
<link:label id="lab_us-gaap_CapitalAccumulationPlans_label_en-US" xlink:label="lab_us-gaap_CapitalAccumulationPlans" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Capital Accumulation Plans </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CapitalAccumulationPlans" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CapitalAccumulationPlans"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CapitalAccumulationPlans" xlink:to="lab_us-gaap_CapitalAccumulationPlans" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DebtInstrumentFaceAmount_f7bbba05-4435-4010-b952-b5ee34034f40_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentFaceAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Face amount of debt instrument </link:label>
<link:label id="lab_us-gaap_DebtInstrumentFaceAmount_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentFaceAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt Instrument, Face Amount </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentFaceAmount" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DebtInstrumentFaceAmount"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentFaceAmount" xlink:to="lab_us-gaap_DebtInstrumentFaceAmount" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_OtherCommitmentsLineItems_3cae0f8c-9758-4267-b5fb-049bedb7c419_terseLabel_en-US" xlink:label="lab_us-gaap_OtherCommitmentsLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Commitments </link:label>
<link:label id="lab_us-gaap_OtherCommitmentsLineItems_label_en-US" xlink:label="lab_us-gaap_OtherCommitmentsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other Commitments [Line Items] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherCommitmentsLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OtherCommitmentsLineItems"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherCommitmentsLineItems" xlink:to="lab_us-gaap_OtherCommitmentsLineItems" xlink:type="arc" order="1"/>
<link:label id="lab_dei_EntityAddressStateOrProvince_f5c71d57-1ca3-4730-8202-f83dde7c26dd_terseLabel_en-US" xlink:label="lab_dei_EntityAddressStateOrProvince" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Entity Address, State or Province </link:label>
<link:label id="lab_dei_EntityAddressStateOrProvince_label_en-US" xlink:label="lab_dei_EntityAddressStateOrProvince" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Entity Address, State or Province </link:label>
<link:loc xlink:type="locator" xlink:label="loc_dei_EntityAddressStateOrProvince" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressStateOrProvince"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityAddressStateOrProvince" xlink:to="lab_dei_EntityAddressStateOrProvince" xlink:type="arc" order="1"/>
<link:label id="lab_ms_NoLongerEmployedbytheFirmMember_bc8fa467-42a1-4901-951e-57e0f0a5c9fe_verboseLabel_en-US" xlink:label="lab_ms_NoLongerEmployedbytheFirmMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> No longer employed by the Firm </link:label>
<link:label id="lab_ms_NoLongerEmployedbytheFirmMember_label_en-US" xlink:label="lab_ms_NoLongerEmployedbytheFirmMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> No Longer Employed by the Firm [Member] </link:label>
<link:label id="lab_ms_NoLongerEmployedbytheFirmMember_documentation_en-US" xlink:label="lab_ms_NoLongerEmployedbytheFirmMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> No Longer Employed by the Firm [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_NoLongerEmployedbytheFirmMember" xlink:href="ms-20231231.xsd#ms_NoLongerEmployedbytheFirmMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_NoLongerEmployedbytheFirmMember" xlink:to="lab_ms_NoLongerEmployedbytheFirmMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_de4b8601-f74f-4ed3-b1b3-6581cbe46a47_terseLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Cash flows from operating activities </link:label>
<link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Net Cash Provided by (Used in) Operating Activities [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_GuaranteeObligationsLineItems_8d74e474-d637-4361-951d-4ded094ed95a_terseLabel_en-US" xlink:label="lab_us-gaap_GuaranteeObligationsLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Guarantees </link:label>
<link:label id="lab_us-gaap_GuaranteeObligationsLineItems_label_en-US" xlink:label="lab_us-gaap_GuaranteeObligationsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Guarantor Obligations [Line Items] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_GuaranteeObligationsLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_GuaranteeObligationsLineItems"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GuaranteeObligationsLineItems" xlink:to="lab_us-gaap_GuaranteeObligationsLineItems" xlink:type="arc" order="1"/>
<link:label id="lab_ms_DerivativeCreditRiskRelatedContingentFeaturesTriggeringEventAxis_37a10d19-c62d-4260-b39a-0eb8399dec60_terseLabel_en-US" xlink:label="lab_ms_DerivativeCreditRiskRelatedContingentFeaturesTriggeringEventAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative, Credit Risk Related Contingent Features, Triggering Event [Axis] </link:label>
<link:label id="lab_ms_DerivativeCreditRiskRelatedContingentFeaturesTriggeringEventAxis_label_en-US" xlink:label="lab_ms_DerivativeCreditRiskRelatedContingentFeaturesTriggeringEventAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative, Credit Risk Related Contingent Features, Triggering Event [Axis] </link:label>
<link:label id="lab_ms_DerivativeCreditRiskRelatedContingentFeaturesTriggeringEventAxis_documentation_en-US" xlink:label="lab_ms_DerivativeCreditRiskRelatedContingentFeaturesTriggeringEventAxis" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Circumstances in which credit-risk-related contingent features could be triggered in derivative instruments that are in a net liability position at the end of the reporting period. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_DerivativeCreditRiskRelatedContingentFeaturesTriggeringEventAxis" xlink:href="ms-20231231.xsd#ms_DerivativeCreditRiskRelatedContingentFeaturesTriggeringEventAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_DerivativeCreditRiskRelatedContingentFeaturesTriggeringEventAxis" xlink:to="lab_ms_DerivativeCreditRiskRelatedContingentFeaturesTriggeringEventAxis" xlink:type="arc" order="1"/>
<link:label id="lab_ms_BankingRegulationTotalRiskBasedCapitalRatioRegulatoryMinimum_248b0d2f-5fc8-4d85-a9c8-3e779d3d8c8a_terseLabel_en-US" xlink:label="lab_ms_BankingRegulationTotalRiskBasedCapitalRatioRegulatoryMinimum" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Regulatory Minimum (as a percent) </link:label>
<link:label id="lab_ms_BankingRegulationTotalRiskBasedCapitalRatioRegulatoryMinimum_label_en-US" xlink:label="lab_ms_BankingRegulationTotalRiskBasedCapitalRatioRegulatoryMinimum" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Banking Regulation, Total Risk-Based Capital Ratio, Regulatory Minimum </link:label>
<link:label id="lab_ms_BankingRegulationTotalRiskBasedCapitalRatioRegulatoryMinimum_documentation_en-US" xlink:label="lab_ms_BankingRegulationTotalRiskBasedCapitalRatioRegulatoryMinimum" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Banking Regulation, Total Risk-Based Capital Ratio, Regulatory Minimum </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_BankingRegulationTotalRiskBasedCapitalRatioRegulatoryMinimum" xlink:href="ms-20231231.xsd#ms_BankingRegulationTotalRiskBasedCapitalRatioRegulatoryMinimum"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_BankingRegulationTotalRiskBasedCapitalRatioRegulatoryMinimum" xlink:to="lab_ms_BankingRegulationTotalRiskBasedCapitalRatioRegulatoryMinimum" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_PaymentsForProceedsFromLoansReceivable_d8a77196-7b19-4380-9a91-e1765ebf858d_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsForProceedsFromLoansReceivable" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Changes in loans, net </link:label>
<link:label id="lab_us-gaap_PaymentsForProceedsFromLoansReceivable_label_en-US" xlink:label="lab_us-gaap_PaymentsForProceedsFromLoansReceivable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Payments for (Proceeds from) Loans Receivable </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsForProceedsFromLoansReceivable" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PaymentsForProceedsFromLoansReceivable"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsForProceedsFromLoansReceivable" xlink:to="lab_us-gaap_PaymentsForProceedsFromLoansReceivable" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_CreditScoreFicoDomain_b2f67b60-a893-4f86-bd23-120ba9ec25dd_terseLabel_en-US" xlink:label="lab_us-gaap_CreditScoreFicoDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Credit Score, FICO [Domain] </link:label>
<link:label id="lab_us-gaap_CreditScoreFicoDomain_label_en-US" xlink:label="lab_us-gaap_CreditScoreFicoDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Credit Score, FICO [Domain] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CreditScoreFicoDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CreditScoreFicoDomain"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CreditScoreFicoDomain" xlink:to="lab_us-gaap_CreditScoreFicoDomain" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities_801b2886-857e-44ed-9eb6-871aca66884d_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Proceeds from paydowns and maturities </link:label>
<link:label id="lab_us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities_label_en-US" xlink:label="lab_us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-Sale </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities" xlink:to="lab_us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_OtherReceivables_49ba3852-358e-4b34-bd49-a2a19c7a09b1_terseLabel_en-US" xlink:label="lab_us-gaap_OtherReceivables" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Customer and other receivables </link:label>
<link:label id="lab_us-gaap_OtherReceivables_3fe3b5c7-3847-4fb9-934d-a4ddb35967de_verboseLabel_en-US" xlink:label="lab_us-gaap_OtherReceivables" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other receivables </link:label>
<link:label id="lab_us-gaap_OtherReceivables_label_en-US" xlink:label="lab_us-gaap_OtherReceivables" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other Receivables </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherReceivables" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OtherReceivables"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherReceivables" xlink:to="lab_us-gaap_OtherReceivables" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DerivativeFairValueOfDerivativeAsset_3b102878-2c56-44eb-b43b-0fe3df162293_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeFairValueOfDerivativeAsset" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative assets recognized in the balance sheet </link:label>
<link:label id="lab_us-gaap_DerivativeFairValueOfDerivativeAsset_label_en-US" xlink:label="lab_us-gaap_DerivativeFairValueOfDerivativeAsset" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative Asset, Subject to Master Netting Arrangement, before Offset </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeFairValueOfDerivativeAsset" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DerivativeFairValueOfDerivativeAsset"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeFairValueOfDerivativeAsset" xlink:to="lab_us-gaap_DerivativeFairValueOfDerivativeAsset" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent_1432f9cf-ecb3-4fc7-8b5d-5977dfbb8fb5_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Maximum proportion of employer matching contributions (as a percent) </link:label>
<link:label id="lab_us-gaap_DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent_label_en-US" xlink:label="lab_us-gaap_DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent" xlink:to="lab_us-gaap_DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_TierOneRiskBasedCapitalToRiskWeightedAssets_9972e3e6-844f-4a05-8a63-fbd00122c2a9_terseLabel_en-US" xlink:label="lab_us-gaap_TierOneRiskBasedCapitalToRiskWeightedAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Tier 1 capital (as a percent) </link:label>
<link:label id="lab_us-gaap_TierOneRiskBasedCapitalToRiskWeightedAssets_label_en-US" xlink:label="lab_us-gaap_TierOneRiskBasedCapitalToRiskWeightedAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Banking Regulation, Tier 1 Risk-Based Capital Ratio, Actual </link:label>
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<link:label id="lab_us-gaap_ScheduleOfHeldToMaturitySecuritiesLineItems_d023e045-51ec-4b37-90d9-9188dd1cafad_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfHeldToMaturitySecuritiesLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Held-to-Maturity Securities [Line Items] </link:label>
<link:label id="lab_us-gaap_ScheduleOfHeldToMaturitySecuritiesLineItems_label_en-US" xlink:label="lab_us-gaap_ScheduleOfHeldToMaturitySecuritiesLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Held-to-Maturity Securities [Line Items] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfHeldToMaturitySecuritiesLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfHeldToMaturitySecuritiesLineItems"/>
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<link:label id="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_cf82634d-e162-45c3-9861-829a7c84d5d5_totalLabel_en-US" xlink:label="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Earnings applicable to Morgan Stanley common shareholders </link:label>
<link:label id="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_label_en-US" xlink:label="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Net Income (Loss) Available to Common Stockholders, Basic </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic"/>
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<link:label id="lab_ms_MeasurementInputInterestRateCurveCorrelationMember_ed1ff5c8-0a22-4f4d-90da-6b2d26845072_terseLabel_en-US" xlink:label="lab_ms_MeasurementInputInterestRateCurveCorrelationMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> IR Curve Correlation </link:label>
<link:label id="lab_ms_MeasurementInputInterestRateCurveCorrelationMember_label_en-US" xlink:label="lab_ms_MeasurementInputInterestRateCurveCorrelationMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Measurement Input, Interest Rate Curve Correlation [Member] </link:label>
<link:label id="lab_ms_MeasurementInputInterestRateCurveCorrelationMember_documentation_en-US" xlink:label="lab_ms_MeasurementInputInterestRateCurveCorrelationMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Measurement Input, Interest Rate Curve Correlation [Member] </link:label>
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<link:label id="lab_us-gaap_OperatingLeaseLiability_1f5846fe-39dd-470b-a53e-56503c6f62b2_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeaseLiability" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other liabilities and accrued expenses—Lease liabilities </link:label>
<link:label id="lab_us-gaap_OperatingLeaseLiability_05cdb51e-6e50-40bb-b374-a251faba1365_verboseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeaseLiability" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Amount on balance sheet </link:label>
<link:label id="lab_us-gaap_OperatingLeaseLiability_label_en-US" xlink:label="lab_us-gaap_OperatingLeaseLiability" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Operating Lease, Liability </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingLeaseLiability" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OperatingLeaseLiability"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingLeaseLiability" xlink:to="lab_us-gaap_OperatingLeaseLiability" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearTwo_075c7c88-27d6-45a4-afee-8056f74f79e5_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearTwo" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> 2025 </link:label>
<link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearTwo_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearTwo" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Finite-Lived Intangible Assets, Amortization Expense, Rolling Year Two </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearTwo" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearTwo"/>
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<link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossDerivativeQualifyingAsHedgeExcludedComponentIncludingPortionAttributableToNoncontrollingInterestMember_ff9c703f-3ad8-4bd8-a42c-bb732726f473_terseLabel_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossDerivativeQualifyingAsHedgeExcludedComponentIncludingPortionAttributableToNoncontrollingInterestMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Change in Cash Flow Hedges Including Noncontrolling Interest </link:label>
<link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossDerivativeQualifyingAsHedgeExcludedComponentIncludingPortionAttributableToNoncontrollingInterestMember_label_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossDerivativeQualifyingAsHedgeExcludedComponentIncludingPortionAttributableToNoncontrollingInterestMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Accumulated Other Comprehensive Income (Loss), Derivative Qualifying as Hedge, Excluded Component, Including Portion Attributable to Noncontrolling Interest [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossDerivativeQualifyingAsHedgeExcludedComponentIncludingPortionAttributableToNoncontrollingInterestMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossDerivativeQualifyingAsHedgeExcludedComponentIncludingPortionAttributableToNoncontrollingInterestMember"/>
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<link:label id="lab_us-gaap_CustomerSecuritiesForWhichEntityHasRightToSellOrRepledgeFairValue_a3d749cd-751e-4e60-be9b-d851021f364b_terseLabel_en-US" xlink:label="lab_us-gaap_CustomerSecuritiesForWhichEntityHasRightToSellOrRepledgeFairValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Collateral received with right to sell or repledge </link:label>
<link:label id="lab_us-gaap_CustomerSecuritiesForWhichEntityHasRightToSellOrRepledgeFairValue_label_en-US" xlink:label="lab_us-gaap_CustomerSecuritiesForWhichEntityHasRightToSellOrRepledgeFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Customer Securities for which Entity has Right to Sell or Repledge, Fair Value </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CustomerSecuritiesForWhichEntityHasRightToSellOrRepledgeFairValue" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CustomerSecuritiesForWhichEntityHasRightToSellOrRepledgeFairValue"/>
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<link:label id="lab_us-gaap_DerivativeFairValueOfDerivativeLiabilityAmountOffsetAgainstCollateral_eb22e5bb-02ec-46bf-aae9-5025a1045b02_totalLabel_en-US" xlink:label="lab_us-gaap_DerivativeFairValueOfDerivativeLiabilityAmountOffsetAgainstCollateral" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Net amounts </link:label>
<link:label id="lab_us-gaap_DerivativeFairValueOfDerivativeLiabilityAmountOffsetAgainstCollateral_label_en-US" xlink:label="lab_us-gaap_DerivativeFairValueOfDerivativeLiabilityAmountOffsetAgainstCollateral" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative Liability, Including Not Subject to Master Netting Arrangement, after Offset and Deduction </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeFairValueOfDerivativeLiabilityAmountOffsetAgainstCollateral" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DerivativeFairValueOfDerivativeLiabilityAmountOffsetAgainstCollateral"/>
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<link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossTable_6cfff995-41cf-4650-9b91-6b60188a5269_terseLabel_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Accumulated Other Comprehensive Income (Loss) [Table] </link:label>
<link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossTable_label_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Accumulated Other Comprehensive Income (Loss) [Table] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossTable" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossTable"/>
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<link:label id="lab_us-gaap_NoninterestExpense_e30e755b-19dc-44f6-88fc-9049cc804546_totalLabel_en-US" xlink:label="lab_us-gaap_NoninterestExpense" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Total non-interest expenses </link:label>
<link:label id="lab_us-gaap_NoninterestExpense_label_en-US" xlink:label="lab_us-gaap_NoninterestExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Noninterest Expense </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_NoninterestExpense" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_NoninterestExpense"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NoninterestExpense" xlink:to="lab_us-gaap_NoninterestExpense" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DerivativeCollateralObligationToReturnSecurities_f87b9b98-e21d-4067-a00d-705b696532b5_negatedLabel_en-US" xlink:label="lab_us-gaap_DerivativeCollateralObligationToReturnSecurities" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Amounts not offset against financial instruments collateral </link:label>
<link:label id="lab_us-gaap_DerivativeCollateralObligationToReturnSecurities_label_en-US" xlink:label="lab_us-gaap_DerivativeCollateralObligationToReturnSecurities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative Asset, Subject to Master Netting Arrangement, Collateral, Obligation to Return Security Not Offset </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeCollateralObligationToReturnSecurities" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DerivativeCollateralObligationToReturnSecurities"/>
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<link:label id="lab_us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense_3101db35-b74c-4f3e-ac06-43f6140b4ecb_terseLabel_en-US" xlink:label="lab_us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Tax benefit </link:label>
<link:label id="lab_us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense_label_en-US" xlink:label="lab_us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Share-Based Payment Arrangement, Expense, Tax Benefit </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense"/>
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<link:label id="lab_ms_SeriesLPreferredStockMember_c01fdc0c-57d8-4bc2-8b78-4c71e462320b_verboseLabel_en-US" xlink:label="lab_ms_SeriesLPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Non-Cumulative Preferred Stock, Series L, $0.01 par value </link:label>
<link:label id="lab_ms_SeriesLPreferredStockMember_a18abd7b-2db0-4923-87a6-1b48a5a68d62_terseLabel_en-US" xlink:label="lab_ms_SeriesLPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Series L </link:label>
<link:label id="lab_ms_SeriesLPreferredStockMember_label_en-US" xlink:label="lab_ms_SeriesLPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Series L Preferred Stock [Member] </link:label>
<link:label id="lab_ms_SeriesLPreferredStockMember_documentation_en-US" xlink:label="lab_ms_SeriesLPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Series L Preferred Stock [Member] </link:label>
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<link:label id="lab_us-gaap_CommonStockValue_fa2bb2e7-3a87-47b4-9b13-2a513647914b_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Common stock </link:label>
<link:label id="lab_us-gaap_CommonStockValue_label_en-US" xlink:label="lab_us-gaap_CommonStockValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Common Stock, Value, Issued </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockValue" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CommonStockValue"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockValue" xlink:to="lab_us-gaap_CommonStockValue" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisTextBlock_06ce8b06-838d-4147-9ce0-14fd21b72ef4_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Nonrecurring Fair Value Measurements </link:label>
<link:label id="lab_us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisTextBlock_label_en-US" xlink:label="lab_us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value Measurements, Nonrecurring [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisTextBlock" xlink:to="lab_us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FairValueAdjustmentDisclosureAbstract_0273f10a-b8d9-464c-a314-895c35ec4448_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueAdjustmentDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value Adjustment Disclosure </link:label>
<link:label id="lab_us-gaap_FairValueAdjustmentDisclosureAbstract_label_en-US" xlink:label="lab_us-gaap_FairValueAdjustmentDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value, Adjustment Disclosure [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueAdjustmentDisclosureAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueAdjustmentDisclosureAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueAdjustmentDisclosureAbstract" xlink:to="lab_us-gaap_FairValueAdjustmentDisclosureAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract_ee251375-e48e-4007-86ec-f8fc4c2a3ded_terseLabel_en-US" xlink:label="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Organization, Consolidation and Presentation of Financial Statements [Abstract] </link:label>
<link:label id="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract_label_en-US" xlink:label="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Organization, Consolidation and Presentation of Financial Statements [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:to="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_RetirementPlanSponsorLocationDomain_4cecb4ff-8bfb-487c-9953-fd6c0eab9387_terseLabel_en-US" xlink:label="lab_us-gaap_RetirementPlanSponsorLocationDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Retirement Plan Sponsor Location [Domain] </link:label>
<link:label id="lab_us-gaap_RetirementPlanSponsorLocationDomain_label_en-US" xlink:label="lab_us-gaap_RetirementPlanSponsorLocationDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Retirement Plan Sponsor Location [Domain] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_RetirementPlanSponsorLocationDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_RetirementPlanSponsorLocationDomain"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RetirementPlanSponsorLocationDomain" xlink:to="lab_us-gaap_RetirementPlanSponsorLocationDomain" xlink:type="arc" order="1"/>
<link:label id="lab_ms_BlockTradingMatterMember_c4262355-8ad5-48a6-aee5-076fe4e85755_terseLabel_en-US" xlink:label="lab_ms_BlockTradingMatterMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Block Trading Matter </link:label>
<link:label id="lab_ms_BlockTradingMatterMember_label_en-US" xlink:label="lab_ms_BlockTradingMatterMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Block Trading Matter [Member] </link:label>
<link:label id="lab_ms_BlockTradingMatterMember_documentation_en-US" xlink:label="lab_ms_BlockTradingMatterMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Block Trading Matter </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_BlockTradingMatterMember" xlink:href="ms-20231231.xsd#ms_BlockTradingMatterMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_BlockTradingMatterMember" xlink:to="lab_ms_BlockTradingMatterMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_CollateralAlreadyPostedAggregateFairValue_771eec95-fe5e-48f1-8137-a2f0330bccda_terseLabel_en-US" xlink:label="lab_us-gaap_CollateralAlreadyPostedAggregateFairValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Collateral posted </link:label>
<link:label id="lab_us-gaap_CollateralAlreadyPostedAggregateFairValue_label_en-US" xlink:label="lab_us-gaap_CollateralAlreadyPostedAggregateFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Collateral Already Posted, Aggregate Fair Value </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CollateralAlreadyPostedAggregateFairValue" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CollateralAlreadyPostedAggregateFairValue"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CollateralAlreadyPostedAggregateFairValue" xlink:to="lab_us-gaap_CollateralAlreadyPostedAggregateFairValue" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_SeniorNotesMember_cbb3ec2f-7831-4fce-b937-7d506ef37a94_terseLabel_en-US" xlink:label="lab_us-gaap_SeniorNotesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Senior Debt </link:label>
<link:label id="lab_us-gaap_SeniorNotesMember_label_en-US" xlink:label="lab_us-gaap_SeniorNotesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Senior Notes [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_SeniorNotesMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SeniorNotesMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SeniorNotesMember" xlink:to="lab_us-gaap_SeniorNotesMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DeferredIncomeTaxExpenseBenefitContinuingOperationsAbstract_305789b5-5506-4d8c-b96f-118138b116e0_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredIncomeTaxExpenseBenefitContinuingOperationsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Deferred </link:label>
<link:label id="lab_us-gaap_DeferredIncomeTaxExpenseBenefitContinuingOperationsAbstract_label_en-US" xlink:label="lab_us-gaap_DeferredIncomeTaxExpenseBenefitContinuingOperationsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredIncomeTaxExpenseBenefitContinuingOperationsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DeferredIncomeTaxExpenseBenefitContinuingOperationsAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredIncomeTaxExpenseBenefitContinuingOperationsAbstract" xlink:to="lab_us-gaap_DeferredIncomeTaxExpenseBenefitContinuingOperationsAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ScheduleOfDefinedBenefitPlansDisclosuresTable_bcfe8eab-3de0-4898-a048-ecf7c97fb587_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfDefinedBenefitPlansDisclosuresTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Defined Benefit Plans Disclosures [Table] </link:label>
<link:label id="lab_us-gaap_ScheduleOfDefinedBenefitPlansDisclosuresTable_label_en-US" xlink:label="lab_us-gaap_ScheduleOfDefinedBenefitPlansDisclosuresTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Defined Benefit Plans Disclosures [Table] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfDefinedBenefitPlansDisclosuresTable" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfDefinedBenefitPlansDisclosuresTable"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfDefinedBenefitPlansDisclosuresTable" xlink:to="lab_us-gaap_ScheduleOfDefinedBenefitPlansDisclosuresTable" xlink:type="arc" order="1"/>
<link:label id="lab_ms_MoreThanThreeAndWithinFiveYearsFromBalanceSheetDateMember_05d31045-90c1-4b34-89c9-28ebc9be2a06_terseLabel_en-US" xlink:label="lab_ms_MoreThanThreeAndWithinFiveYearsFromBalanceSheetDateMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> 3 - 5 (Years) </link:label>
<link:label id="lab_ms_MoreThanThreeAndWithinFiveYearsFromBalanceSheetDateMember_label_en-US" xlink:label="lab_ms_MoreThanThreeAndWithinFiveYearsFromBalanceSheetDateMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> More than Three and within Five Years from Balance Sheet Date [Member] </link:label>
<link:label id="lab_ms_MoreThanThreeAndWithinFiveYearsFromBalanceSheetDateMember_documentation_en-US" xlink:label="lab_ms_MoreThanThreeAndWithinFiveYearsFromBalanceSheetDateMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> More than Three and within Five Years from Balance Sheet Date [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_MoreThanThreeAndWithinFiveYearsFromBalanceSheetDateMember" xlink:href="ms-20231231.xsd#ms_MoreThanThreeAndWithinFiveYearsFromBalanceSheetDateMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_MoreThanThreeAndWithinFiveYearsFromBalanceSheetDateMember" xlink:to="lab_ms_MoreThanThreeAndWithinFiveYearsFromBalanceSheetDateMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_CreditDefaultSwapBuyingProtectionMember_1b7f081b-3945-47d3-9328-bcaf7d3ed7c1_terseLabel_en-US" xlink:label="lab_us-gaap_CreditDefaultSwapBuyingProtectionMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Protection Purchased </link:label>
<link:label id="lab_us-gaap_CreditDefaultSwapBuyingProtectionMember_label_en-US" xlink:label="lab_us-gaap_CreditDefaultSwapBuyingProtectionMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Credit Default Swap, Buying Protection [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CreditDefaultSwapBuyingProtectionMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CreditDefaultSwapBuyingProtectionMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CreditDefaultSwapBuyingProtectionMember" xlink:to="lab_us-gaap_CreditDefaultSwapBuyingProtectionMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_ScheduleOfFinancialInstrumentsNotMeasuredAtFairValueTableTextBlock_901adba7-eee5-424f-a35e-166aca7a10cf_terseLabel_en-US" xlink:label="lab_ms_ScheduleOfFinancialInstrumentsNotMeasuredAtFairValueTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Financial Instruments Not Measured at Fair Value </link:label>
<link:label id="lab_ms_ScheduleOfFinancialInstrumentsNotMeasuredAtFairValueTableTextBlock_label_en-US" xlink:label="lab_ms_ScheduleOfFinancialInstrumentsNotMeasuredAtFairValueTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Financial Instruments Not Measured at Fair Value [Table Text Block] </link:label>
<link:label id="lab_ms_ScheduleOfFinancialInstrumentsNotMeasuredAtFairValueTableTextBlock_documentation_en-US" xlink:label="lab_ms_ScheduleOfFinancialInstrumentsNotMeasuredAtFairValueTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Tabular disclosure of carrying value, estimated fair value and hierarchy classification of certain financial instruments that are not carried at fair value on a recurring basis. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_ScheduleOfFinancialInstrumentsNotMeasuredAtFairValueTableTextBlock" xlink:href="ms-20231231.xsd#ms_ScheduleOfFinancialInstrumentsNotMeasuredAtFairValueTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_ScheduleOfFinancialInstrumentsNotMeasuredAtFairValueTableTextBlock" xlink:to="lab_ms_ScheduleOfFinancialInstrumentsNotMeasuredAtFairValueTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_srt_LitigationCaseTypeDomain_175c6446-42f0-4989-83a0-cd8cd081e402_terseLabel_en-US" xlink:label="lab_srt_LitigationCaseTypeDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Litigation Case [Domain] </link:label>
<link:label id="lab_srt_LitigationCaseTypeDomain_label_en-US" xlink:label="lab_srt_LitigationCaseTypeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Litigation Case [Domain] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_srt_LitigationCaseTypeDomain" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_LitigationCaseTypeDomain"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_LitigationCaseTypeDomain" xlink:to="lab_srt_LitigationCaseTypeDomain" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_PaymentsToAcquireHeldToMaturitySecurities_6a90f361-734c-4f96-b818-2a8cfa9ca950_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireHeldToMaturitySecurities" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Purchases </link:label>
<link:label id="lab_us-gaap_PaymentsToAcquireHeldToMaturitySecurities_label_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireHeldToMaturitySecurities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Payments to Acquire Held-to-Maturity Securities </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsToAcquireHeldToMaturitySecurities" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PaymentsToAcquireHeldToMaturitySecurities"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsToAcquireHeldToMaturitySecurities" xlink:to="lab_us-gaap_PaymentsToAcquireHeldToMaturitySecurities" xlink:type="arc" order="1"/>
<link:label id="lab_ms_RightOfUseAssetsFairValueDisclosure_51ed385e-9b04-4f55-9898-efa27d79b129_terseLabel_en-US" xlink:label="lab_ms_RightOfUseAssetsFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other assets—ROU assets </link:label>
<link:label id="lab_ms_RightOfUseAssetsFairValueDisclosure_label_en-US" xlink:label="lab_ms_RightOfUseAssetsFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Right-of-Use Assets, Fair Value Disclosure </link:label>
<link:label id="lab_ms_RightOfUseAssetsFairValueDisclosure_documentation_en-US" xlink:label="lab_ms_RightOfUseAssetsFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Right-of-Use Assets, Fair Value Disclosure </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_RightOfUseAssetsFairValueDisclosure" xlink:href="ms-20231231.xsd#ms_RightOfUseAssetsFairValueDisclosure"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_RightOfUseAssetsFairValueDisclosure" xlink:to="lab_ms_RightOfUseAssetsFairValueDisclosure" xlink:type="arc" order="1"/>
<link:label id="lab_ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalAfterYearFive_e76bdfe1-16d0-411f-9bf2-9a33a566f3a1_terseLabel_en-US" xlink:label="lab_ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalAfterYearFive" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> After year 5 </link:label>
<link:label id="lab_ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalAfterYearFive_label_en-US" xlink:label="lab_ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalAfterYearFive" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Transfers Accounted for as Secured Borrowings, Associated Liabilities, Maturities, Repayments of Principal after Year Five </link:label>
<link:label id="lab_ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalAfterYearFive_documentation_en-US" xlink:label="lab_ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalAfterYearFive" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Amount of liabilities associated with financial assets accounted for as secured borrowings maturing after the fifth fiscal year following the latest fiscal year. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalAfterYearFive" xlink:href="ms-20231231.xsd#ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalAfterYearFive"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalAfterYearFive" xlink:to="lab_ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalAfterYearFive" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_HeldToMaturitySecuritiesFairValue_fa1aec0d-a756-4114-b698-8d0e6287e879_terseLabel_en-US" xlink:label="lab_us-gaap_HeldToMaturitySecuritiesFairValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Held-to-maturity, fair value </link:label>
<link:label id="lab_us-gaap_HeldToMaturitySecuritiesFairValue_ff9fcdb2-d2ff-43df-add7-d088555882aa_verboseLabel_en-US" xlink:label="lab_us-gaap_HeldToMaturitySecuritiesFairValue" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value </link:label>
<link:label id="lab_us-gaap_HeldToMaturitySecuritiesFairValue_f889304f-0cdc-4569-9e2e-3bddff529e78_totalLabel_en-US" xlink:label="lab_us-gaap_HeldToMaturitySecuritiesFairValue" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> HTM securities: Fair value, total </link:label>
<link:label id="lab_us-gaap_HeldToMaturitySecuritiesFairValue_label_en-US" xlink:label="lab_us-gaap_HeldToMaturitySecuritiesFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt Securities, Held-to-Maturity, Fair Value </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_HeldToMaturitySecuritiesFairValue" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_HeldToMaturitySecuritiesFairValue"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_HeldToMaturitySecuritiesFairValue" xlink:to="lab_us-gaap_HeldToMaturitySecuritiesFairValue" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_UnrecognizedTaxBenefits_7169342b-185b-4867-855d-a98d0b43bb3c_periodStartLabel_en-US" xlink:label="lab_us-gaap_UnrecognizedTaxBenefits" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Balance at beginning of period </link:label>
<link:label id="lab_us-gaap_UnrecognizedTaxBenefits_2ac1046a-b410-4b86-9a64-2d00b42dea08_periodEndLabel_en-US" xlink:label="lab_us-gaap_UnrecognizedTaxBenefits" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Balance at end of period </link:label>
<link:label id="lab_us-gaap_UnrecognizedTaxBenefits_label_en-US" xlink:label="lab_us-gaap_UnrecognizedTaxBenefits" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Unrecognized Tax Benefits </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_UnrecognizedTaxBenefits" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_UnrecognizedTaxBenefits"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_UnrecognizedTaxBenefits" xlink:to="lab_us-gaap_UnrecognizedTaxBenefits" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear_2da65ed2-d0e5-4041-8efc-d77b59ea9d80_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Current Fiscal Year </link:label>
<link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" xlink:to="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" xlink:type="arc" order="1"/>
<link:label id="lab_ms_MeasurementInputCashSyntheticBasisMember_aa082269-5ab3-4a34-bdff-2c53223ae851_terseLabel_en-US" xlink:label="lab_ms_MeasurementInputCashSyntheticBasisMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Cash-Synthetic Basis </link:label>
<link:label id="lab_ms_MeasurementInputCashSyntheticBasisMember_label_en-US" xlink:label="lab_ms_MeasurementInputCashSyntheticBasisMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Measurement Input, Cash-Synthetic Basis [Member] </link:label>
<link:label id="lab_ms_MeasurementInputCashSyntheticBasisMember_documentation_en-US" xlink:label="lab_ms_MeasurementInputCashSyntheticBasisMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Measurement input using the price differential between cash financial instruments and their synthetic derivative-based equivalents. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_MeasurementInputCashSyntheticBasisMember" xlink:href="ms-20231231.xsd#ms_MeasurementInputCashSyntheticBasisMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_MeasurementInputCashSyntheticBasisMember" xlink:to="lab_ms_MeasurementInputCashSyntheticBasisMember" xlink:type="arc" order="1"/>
<link:label id="lab_srt_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract_fff681b3-702c-49dc-b389-1c95dab6396a_terseLabel_en-US" xlink:label="lab_srt_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Condensed Financial Information Disclosure [Abstract] </link:label>
<link:label id="lab_srt_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract_label_en-US" xlink:label="lab_srt_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Condensed Financial Information Disclosure [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_srt_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract" xlink:to="lab_srt_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_ms_SecuritiesSoldunderAgreementtoRepurchaseMeasurementInput_06fd695b-b514-4336-a9f1-72f966d4ccab_terseLabel_en-US" xlink:label="lab_ms_SecuritiesSoldunderAgreementtoRepurchaseMeasurementInput" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Securities sold under agreement to repurchase, measurement input value </link:label>
<link:label id="lab_ms_SecuritiesSoldunderAgreementtoRepurchaseMeasurementInput_label_en-US" xlink:label="lab_ms_SecuritiesSoldunderAgreementtoRepurchaseMeasurementInput" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Securities Sold under Agreement to Repurchase, Measurement Input </link:label>
<link:label id="lab_ms_SecuritiesSoldunderAgreementtoRepurchaseMeasurementInput_documentation_en-US" xlink:label="lab_ms_SecuritiesSoldunderAgreementtoRepurchaseMeasurementInput" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Securities Sold under Agreement to Repurchase, Measurement Input </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_SecuritiesSoldunderAgreementtoRepurchaseMeasurementInput" xlink:href="ms-20231231.xsd#ms_SecuritiesSoldunderAgreementtoRepurchaseMeasurementInput"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_SecuritiesSoldunderAgreementtoRepurchaseMeasurementInput" xlink:to="lab_ms_SecuritiesSoldunderAgreementtoRepurchaseMeasurementInput" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_SecuritiesSoldUnderAgreementsToRepurchaseGrossIncludingNotSubjectToMasterNettingArrangement_19932536-2233-4edb-8be3-53c0bc1964f7_terseLabel_en-US" xlink:label="lab_us-gaap_SecuritiesSoldUnderAgreementsToRepurchaseGrossIncludingNotSubjectToMasterNettingArrangement" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Gross Amounts </link:label>
<link:label id="lab_us-gaap_SecuritiesSoldUnderAgreementsToRepurchaseGrossIncludingNotSubjectToMasterNettingArrangement_924088bc-cabe-4e15-aae6-82075d9c7914_verboseLabel_en-US" xlink:label="lab_us-gaap_SecuritiesSoldUnderAgreementsToRepurchaseGrossIncludingNotSubjectToMasterNettingArrangement" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Securities sold under agreements to repurchase </link:label>
<link:label id="lab_us-gaap_SecuritiesSoldUnderAgreementsToRepurchaseGrossIncludingNotSubjectToMasterNettingArrangement_label_en-US" xlink:label="lab_us-gaap_SecuritiesSoldUnderAgreementsToRepurchaseGrossIncludingNotSubjectToMasterNettingArrangement" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Securities Sold under Agreements to Repurchase, Gross Including Not Subject to Master Netting Arrangement </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_SecuritiesSoldUnderAgreementsToRepurchaseGrossIncludingNotSubjectToMasterNettingArrangement" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SecuritiesSoldUnderAgreementsToRepurchaseGrossIncludingNotSubjectToMasterNettingArrangement"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SecuritiesSoldUnderAgreementsToRepurchaseGrossIncludingNotSubjectToMasterNettingArrangement" xlink:to="lab_us-gaap_SecuritiesSoldUnderAgreementsToRepurchaseGrossIncludingNotSubjectToMasterNettingArrangement" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_BuildingMember_60ccbf28-dd93-4681-8223-c415b527fcf8_terseLabel_en-US" xlink:label="lab_us-gaap_BuildingMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Buildings </link:label>
<link:label id="lab_us-gaap_BuildingMember_label_en-US" xlink:label="lab_us-gaap_BuildingMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Building [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_BuildingMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_BuildingMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BuildingMember" xlink:to="lab_us-gaap_BuildingMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FairValueMeasurementsNonrecurringMember_1b5360b5-f78d-41e7-9871-4719440f6c3f_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueMeasurementsNonrecurringMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Nonrecurring </link:label>
<link:label id="lab_us-gaap_FairValueMeasurementsNonrecurringMember_label_en-US" xlink:label="lab_us-gaap_FairValueMeasurementsNonrecurringMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value, Nonrecurring [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueMeasurementsNonrecurringMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueMeasurementsNonrecurringMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueMeasurementsNonrecurringMember" xlink:to="lab_us-gaap_FairValueMeasurementsNonrecurringMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DebtSecuritiesTradingMeasurementInput_c7d867c4-b25c-48b6-94ba-93a8b359addd_terseLabel_en-US" xlink:label="lab_us-gaap_DebtSecuritiesTradingMeasurementInput" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt securities, trading assets, measurement input value </link:label>
<link:label id="lab_us-gaap_DebtSecuritiesTradingMeasurementInput_label_en-US" xlink:label="lab_us-gaap_DebtSecuritiesTradingMeasurementInput" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt Securities, Trading, Measurement Input </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtSecuritiesTradingMeasurementInput" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DebtSecuritiesTradingMeasurementInput"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtSecuritiesTradingMeasurementInput" xlink:to="lab_us-gaap_DebtSecuritiesTradingMeasurementInput" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansNetUnamortizedGainLossArisingDuringPeriodBeforeTax_006a9186-867a-473a-bfd6-e5ed13d275f2_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansNetUnamortizedGainLossArisingDuringPeriodBeforeTax" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Net gain (loss) </link:label>
<link:label id="lab_us-gaap_OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansNetUnamortizedGainLossArisingDuringPeriodBeforeTax_label_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansNetUnamortizedGainLossArisingDuringPeriodBeforeTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, before Tax </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansNetUnamortizedGainLossArisingDuringPeriodBeforeTax" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansNetUnamortizedGainLossArisingDuringPeriodBeforeTax"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansNetUnamortizedGainLossArisingDuringPeriodBeforeTax" xlink:to="lab_us-gaap_OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansNetUnamortizedGainLossArisingDuringPeriodBeforeTax" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ProductConcentrationRiskMember_37fc6066-6495-4532-a306-4d249bd03c64_terseLabel_en-US" xlink:label="lab_us-gaap_ProductConcentrationRiskMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Product Concentration Risk </link:label>
<link:label id="lab_us-gaap_ProductConcentrationRiskMember_label_en-US" xlink:label="lab_us-gaap_ProductConcentrationRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Product Concentration Risk [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProductConcentrationRiskMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ProductConcentrationRiskMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProductConcentrationRiskMember" xlink:to="lab_us-gaap_ProductConcentrationRiskMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalInYearTwo_1b113568-e2b3-4d74-af1d-d780b919dc92_terseLabel_en-US" xlink:label="lab_ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Year 2 </link:label>
<link:label id="lab_ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalInYearTwo_label_en-US" xlink:label="lab_ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Transfers Accounted for as Secured Borrowings, Associated Liabilities, Maturities, Repayments of Principal in Year Two </link:label>
<link:label id="lab_ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalInYearTwo_documentation_en-US" xlink:label="lab_ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Amount of liabilities associated with financial assets accounted for as secured borrowings maturing in the second fiscal year following the latest fiscal year. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:href="ms-20231231.xsd#ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalInYearTwo"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:to="lab_ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_AccountsNotesAndLoansReceivableLineItems_fec7dfdc-4e1b-46a4-be2f-3d307afcf959_verboseLabel_en-US" xlink:label="lab_us-gaap_AccountsNotesAndLoansReceivableLineItems" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Loans </link:label>
<link:label id="lab_us-gaap_AccountsNotesAndLoansReceivableLineItems_3c223588-f628-4671-9ce1-41b48ab0bad1_terseLabel_en-US" xlink:label="lab_us-gaap_AccountsNotesAndLoansReceivableLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Accounts, Notes, Loans and Financing Receivable [Line Items] </link:label>
<link:label id="lab_us-gaap_AccountsNotesAndLoansReceivableLineItems_label_en-US" xlink:label="lab_us-gaap_AccountsNotesAndLoansReceivableLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Accounts, Notes, Loans and Financing Receivable [Line Items] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccountsNotesAndLoansReceivableLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AccountsNotesAndLoansReceivableLineItems"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccountsNotesAndLoansReceivableLineItems" xlink:to="lab_us-gaap_AccountsNotesAndLoansReceivableLineItems" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_StockholdersEquity_1e4c7302-712f-4870-ae81-5a06bcfa1f22_totalLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquity" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Total Morgan Stanley shareholders’ equity </link:label>
<link:label id="lab_us-gaap_StockholdersEquity_label_en-US" xlink:label="lab_us-gaap_StockholdersEquity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Equity, Attributable to Parent </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquity" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_StockholdersEquity"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockholdersEquity" xlink:to="lab_us-gaap_StockholdersEquity" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTable_5396ed9d-d597-448d-9580-7babca053188_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Finite-Lived Intangible Assets [Table] </link:label>
<link:label id="lab_us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTable_label_en-US" xlink:label="lab_us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Finite-Lived Intangible Assets [Table] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTable" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTable"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTable" xlink:to="lab_us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTable" xlink:type="arc" order="1"/>
<link:label id="lab_ms_JointVenturesTableTextBlock_3b802210-96f9-4285-bf2c-572717523a9b_terseLabel_en-US" xlink:label="lab_ms_JointVenturesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Japanese Securities Joint Venture </link:label>
<link:label id="lab_ms_JointVenturesTableTextBlock_label_en-US" xlink:label="lab_ms_JointVenturesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Joint Ventures [Table Text Block] </link:label>
<link:label id="lab_ms_JointVenturesTableTextBlock_documentation_en-US" xlink:label="lab_ms_JointVenturesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Joint Ventures [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_JointVenturesTableTextBlock" xlink:href="ms-20231231.xsd#ms_JointVenturesTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_JointVenturesTableTextBlock" xlink:to="lab_ms_JointVenturesTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_InvestmentsInAndAdvancesToAffiliatesAtFairValuePeriodIncreaseDecrease_0cb89a9e-ecbf-4a6d-8c88-4cd5efa93779_terseLabel_en-US" xlink:label="lab_us-gaap_InvestmentsInAndAdvancesToAffiliatesAtFairValuePeriodIncreaseDecrease" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Advances to and investments in subsidiaries </link:label>
<link:label id="lab_us-gaap_InvestmentsInAndAdvancesToAffiliatesAtFairValuePeriodIncreaseDecrease_label_en-US" xlink:label="lab_us-gaap_InvestmentsInAndAdvancesToAffiliatesAtFairValuePeriodIncreaseDecrease" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Investments in and Advances to Affiliates, at Fair Value, Period Increase (Decrease) </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_InvestmentsInAndAdvancesToAffiliatesAtFairValuePeriodIncreaseDecrease" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_InvestmentsInAndAdvancesToAffiliatesAtFairValuePeriodIncreaseDecrease"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InvestmentsInAndAdvancesToAffiliatesAtFairValuePeriodIncreaseDecrease" xlink:to="lab_us-gaap_InvestmentsInAndAdvancesToAffiliatesAtFairValuePeriodIncreaseDecrease" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ScheduleOfStockByClassTable_8e9c0e28-90b4-4a9d-a6ec-eb91cca9d920_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfStockByClassTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Stock by Class [Table] </link:label>
<link:label id="lab_us-gaap_ScheduleOfStockByClassTable_label_en-US" xlink:label="lab_us-gaap_ScheduleOfStockByClassTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Stock by Class [Table] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfStockByClassTable" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfStockByClassTable"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfStockByClassTable" xlink:to="lab_us-gaap_ScheduleOfStockByClassTable" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_d5dd5a35-ce86-42e8-b720-365dc50516fb_totalLabel_en-US" xlink:label="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Income before provision for income taxes </link:label>
<link:label id="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_2f79638d-e3fe-4426-beea-efb61fc7eb75_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Income before provision for income taxes </link:label>
<link:label id="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_label_en-US" xlink:label="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xlink:to="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_GeographicDistributionAxis_922b8a7c-cb73-4192-a5cc-08b555674e8f_terseLabel_en-US" xlink:label="lab_us-gaap_GeographicDistributionAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Geographic Distribution [Axis] </link:label>
<link:label id="lab_us-gaap_GeographicDistributionAxis_label_en-US" xlink:label="lab_us-gaap_GeographicDistributionAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Geographic Distribution [Axis] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_GeographicDistributionAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_GeographicDistributionAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GeographicDistributionAxis" xlink:to="lab_us-gaap_GeographicDistributionAxis" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_NondesignatedMember_f7fe187c-66c8-4750-86bb-28773d9cfb8d_terseLabel_en-US" xlink:label="lab_us-gaap_NondesignatedMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Not designated as accounting hedges </link:label>
<link:label id="lab_us-gaap_NondesignatedMember_label_en-US" xlink:label="lab_us-gaap_NondesignatedMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Not Designated as Hedging Instrument [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_NondesignatedMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_NondesignatedMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NondesignatedMember" xlink:to="lab_us-gaap_NondesignatedMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_USStatesAndPoliticalSubdivisionsMember_bc1bbf55-d4df-4839-95d9-d5811d9bfc1a_terseLabel_en-US" xlink:label="lab_us-gaap_USStatesAndPoliticalSubdivisionsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> State and municipal securities </link:label>
<link:label id="lab_us-gaap_USStatesAndPoliticalSubdivisionsMember_label_en-US" xlink:label="lab_us-gaap_USStatesAndPoliticalSubdivisionsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> US States and Political Subdivisions Debt Securities [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_USStatesAndPoliticalSubdivisionsMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_USStatesAndPoliticalSubdivisionsMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_USStatesAndPoliticalSubdivisionsMember" xlink:to="lab_us-gaap_USStatesAndPoliticalSubdivisionsMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_HedgingDesignationDomain_2c966665-5645-428b-916f-006466fdeb65_terseLabel_en-US" xlink:label="lab_us-gaap_HedgingDesignationDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Hedging Designation [Domain] </link:label>
<link:label id="lab_us-gaap_HedgingDesignationDomain_label_en-US" xlink:label="lab_us-gaap_HedgingDesignationDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Hedging Designation [Domain] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_HedgingDesignationDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_HedgingDesignationDomain"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_HedgingDesignationDomain" xlink:to="lab_us-gaap_HedgingDesignationDomain" xlink:type="arc" order="1"/>
<link:label id="lab_ms_JointVenturesByPartnerAxis_a63d5cfb-e5d4-4d92-8c45-9e57d6fe3fa7_terseLabel_en-US" xlink:label="lab_ms_JointVenturesByPartnerAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Joint Ventures, by Partner [Axis] </link:label>
<link:label id="lab_ms_JointVenturesByPartnerAxis_label_en-US" xlink:label="lab_ms_JointVenturesByPartnerAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Joint Ventures, by Partner [Axis] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_JointVenturesByPartnerAxis" xlink:href="ms-20231231.xsd#ms_JointVenturesByPartnerAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_JointVenturesByPartnerAxis" xlink:to="lab_ms_JointVenturesByPartnerAxis" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear_47a83bd4-d851-4adf-861a-13b1493eced8_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> One Year Ago </link:label>
<link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear" xlink:to="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditBeforeTax_2bbfbba2-f84b-45a7-b568-68ad0413dba4_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditBeforeTax" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Amortization of prior service cost </link:label>
<link:label id="lab_us-gaap_OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditBeforeTax_label_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditBeforeTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, before Tax </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditBeforeTax" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditBeforeTax"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditBeforeTax" xlink:to="lab_us-gaap_OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditBeforeTax" xlink:type="arc" order="1"/>
<link:label id="lab_ms_AdjustedAverageAssets_9b6fb430-661a-4c44-b277-e2c8c9db2f8a_terseLabel_en-US" xlink:label="lab_ms_AdjustedAverageAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Adjusted average assets </link:label>
<link:label id="lab_ms_AdjustedAverageAssets_label_en-US" xlink:label="lab_ms_AdjustedAverageAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Adjusted Average Assets </link:label>
<link:label id="lab_ms_AdjustedAverageAssets_documentation_en-US" xlink:label="lab_ms_AdjustedAverageAssets" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Adjusted average assets represent the denominator of the Tier 1 leverage ratio and are composed of the average daily balance of consolidated on-balance-sheet assets, adjusted for disallowed goodwill, intangible assets, certain deferred tax assets, certain investments in the capital instruments of unconsolidated financial institutions and other adjustments. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_AdjustedAverageAssets" xlink:href="ms-20231231.xsd#ms_AdjustedAverageAssets"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_AdjustedAverageAssets" xlink:to="lab_ms_AdjustedAverageAssets" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ScheduleOfCustomerSecuritiesForWhichEntityHasRightToSellOrRepledgeTextBlock_9fda73ac-8239-4800-b5ed-fc4d5ab239fd_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfCustomerSecuritiesForWhichEntityHasRightToSellOrRepledgeTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Fair Value of Collateral Received with Right to Sell or Repledge </link:label>
<link:label id="lab_us-gaap_ScheduleOfCustomerSecuritiesForWhichEntityHasRightToSellOrRepledgeTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfCustomerSecuritiesForWhichEntityHasRightToSellOrRepledgeTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Customer Securities for which Entity has Right to Sell or Repledge [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfCustomerSecuritiesForWhichEntityHasRightToSellOrRepledgeTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfCustomerSecuritiesForWhichEntityHasRightToSellOrRepledgeTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfCustomerSecuritiesForWhichEntityHasRightToSellOrRepledgeTextBlock" xlink:to="lab_us-gaap_ScheduleOfCustomerSecuritiesForWhichEntityHasRightToSellOrRepledgeTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_ms_MeasurementInputForeignExchangeVolatilitySkewMember_5a8c7438-5a52-48d5-a696-bfca7de00e91_terseLabel_en-US" xlink:label="lab_ms_MeasurementInputForeignExchangeVolatilitySkewMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Foreign Exchange Volatility Skew </link:label>
<link:label id="lab_ms_MeasurementInputForeignExchangeVolatilitySkewMember_label_en-US" xlink:label="lab_ms_MeasurementInputForeignExchangeVolatilitySkewMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Measurement Input, Foreign Exchange Volatility Skew [Member] </link:label>
<link:label id="lab_ms_MeasurementInputForeignExchangeVolatilitySkewMember_documentation_en-US" xlink:label="lab_ms_MeasurementInputForeignExchangeVolatilitySkewMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Measurement Input, Foreign Exchange Volatility Skew [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_MeasurementInputForeignExchangeVolatilitySkewMember" xlink:href="ms-20231231.xsd#ms_MeasurementInputForeignExchangeVolatilitySkewMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_MeasurementInputForeignExchangeVolatilitySkewMember" xlink:to="lab_ms_MeasurementInputForeignExchangeVolatilitySkewMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_VariableInterestEntityAssetsIssuedBySecuritizationSpecialPurposeEntity_b831a30b-0173-47bc-8dbf-edf18323c250_terseLabel_en-US" xlink:label="lab_ms_VariableInterestEntityAssetsIssuedBySecuritizationSpecialPurposeEntity" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Additional VIE assets owned </link:label>
<link:label id="lab_ms_VariableInterestEntityAssetsIssuedBySecuritizationSpecialPurposeEntity_label_en-US" xlink:label="lab_ms_VariableInterestEntityAssetsIssuedBySecuritizationSpecialPurposeEntity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Variable Interest Entity, Assets Issued by Securitization Special Purpose Entity </link:label>
<link:label id="lab_ms_VariableInterestEntityAssetsIssuedBySecuritizationSpecialPurposeEntity_documentation_en-US" xlink:label="lab_ms_VariableInterestEntityAssetsIssuedBySecuritizationSpecialPurposeEntity" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Carrying value of total exposure to non-consolidated variable interest entities that does not meet the criteria for detailed breakout, primarily interests issued by securitization special purpose entities for which the maximum exposure to loss is less than specific thresholds. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_VariableInterestEntityAssetsIssuedBySecuritizationSpecialPurposeEntity" xlink:href="ms-20231231.xsd#ms_VariableInterestEntityAssetsIssuedBySecuritizationSpecialPurposeEntity"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_VariableInterestEntityAssetsIssuedBySecuritizationSpecialPurposeEntity" xlink:to="lab_ms_VariableInterestEntityAssetsIssuedBySecuritizationSpecialPurposeEntity" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_d94d4a76-4d5e-4385-8179-ddeda2fb0818_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Increase (Decrease) in Stockholders' Equity [Roll Forward] </link:label>
<link:label id="lab_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Increase (Decrease) in Stockholders' Equity [Roll Forward] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_IncreaseDecreaseInStockholdersEquityRollForward"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward" xlink:to="lab_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DepositLiabilityForeignDepositorInDomesticOffice_e92a38cd-1fab-4e9a-82e2-b8f1f64136d9_terseLabel_en-US" xlink:label="lab_us-gaap_DepositLiabilityForeignDepositorInDomesticOffice" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Deposits in U.S. bank subsidiaries from non-U.S. depositors </link:label>
<link:label id="lab_us-gaap_DepositLiabilityForeignDepositorInDomesticOffice_label_en-US" xlink:label="lab_us-gaap_DepositLiabilityForeignDepositorInDomesticOffice" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Deposit Liability, Foreign Depositor in Domestic Office </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DepositLiabilityForeignDepositorInDomesticOffice" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DepositLiabilityForeignDepositorInDomesticOffice"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DepositLiabilityForeignDepositorInDomesticOffice" xlink:to="lab_us-gaap_DepositLiabilityForeignDepositorInDomesticOffice" xlink:type="arc" order="1"/>
<link:label id="lab_dei_DocumentFiscalPeriodFocus_aa6af9e1-bdd1-4400-aab9-9d6254a44563_terseLabel_en-US" xlink:label="lab_dei_DocumentFiscalPeriodFocus" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Document Fiscal Period Focus </link:label>
<link:label id="lab_dei_DocumentFiscalPeriodFocus_label_en-US" xlink:label="lab_dei_DocumentFiscalPeriodFocus" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Document Fiscal Period Focus </link:label>
<link:loc xlink:type="locator" xlink:label="loc_dei_DocumentFiscalPeriodFocus" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentFiscalPeriodFocus"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentFiscalPeriodFocus" xlink:to="lab_dei_DocumentFiscalPeriodFocus" xlink:type="arc" order="1"/>
<link:label id="lab_ms_MeasurementInputInterestRateCurveMember_e5e52ebd-870e-4bd9-bdeb-ee9647a4cb05_terseLabel_en-US" xlink:label="lab_ms_MeasurementInputInterestRateCurveMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> IR Curve </link:label>
<link:label id="lab_ms_MeasurementInputInterestRateCurveMember_label_en-US" xlink:label="lab_ms_MeasurementInputInterestRateCurveMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Measurement Input, Interest Rate Curve [Member] </link:label>
<link:label id="lab_ms_MeasurementInputInterestRateCurveMember_documentation_en-US" xlink:label="lab_ms_MeasurementInputInterestRateCurveMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Measurement input using the term structure of interest rates (relationship between interest rates and the time to maturity) and a market's measure of future interest rates at the time of observation. An interest rate curve is used to set interest rate and foreign exchange derivative cash flows and is a pricing input used in the discounting of any OTC derivative cash flow. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_MeasurementInputInterestRateCurveMember" xlink:href="ms-20231231.xsd#ms_MeasurementInputInterestRateCurveMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_MeasurementInputInterestRateCurveMember" xlink:to="lab_ms_MeasurementInputInterestRateCurveMember" xlink:type="arc" order="1"/>
<link:label id="lab_srt_ProductOrServiceAxis_ec7aa1e6-7e68-49b5-a4ae-88dc37c3ef4d_terseLabel_en-US" xlink:label="lab_srt_ProductOrServiceAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Product and Service [Axis] </link:label>
<link:label id="lab_srt_ProductOrServiceAxis_label_en-US" xlink:label="lab_srt_ProductOrServiceAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Product and Service [Axis] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_srt_ProductOrServiceAxis" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_ProductOrServiceAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_ProductOrServiceAxis" xlink:to="lab_srt_ProductOrServiceAxis" xlink:type="arc" order="1"/>
<link:label id="lab_ms_FairValueInvestmentsEntitiesThatCalculateNetAssetValueAtCarryingValue_55e5e83f-118a-4a47-a45e-dde561559fba_terseLabel_en-US" xlink:label="lab_ms_FairValueInvestmentsEntitiesThatCalculateNetAssetValueAtCarryingValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Carrying Value </link:label>
<link:label id="lab_ms_FairValueInvestmentsEntitiesThatCalculateNetAssetValueAtCarryingValue_label_en-US" xlink:label="lab_ms_FairValueInvestmentsEntitiesThatCalculateNetAssetValueAtCarryingValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value, Investments, Entities that Calculate Net Asset Value, at Carrying Value </link:label>
<link:label id="lab_ms_FairValueInvestmentsEntitiesThatCalculateNetAssetValueAtCarryingValue_documentation_en-US" xlink:label="lab_ms_FairValueInvestmentsEntitiesThatCalculateNetAssetValueAtCarryingValue" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Carrying value of investment in certain entities that calculate net asset value per share. Example includes, but is not limited to, investment in hedge fund, venture capital fund, private equity fund, and real estate partnership or fund. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_FairValueInvestmentsEntitiesThatCalculateNetAssetValueAtCarryingValue" xlink:href="ms-20231231.xsd#ms_FairValueInvestmentsEntitiesThatCalculateNetAssetValueAtCarryingValue"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_FairValueInvestmentsEntitiesThatCalculateNetAssetValueAtCarryingValue" xlink:to="lab_ms_FairValueInvestmentsEntitiesThatCalculateNetAssetValueAtCarryingValue" xlink:type="arc" order="1"/>
<link:label id="lab_srt_SegmentGeographicalDomain_f3f223ff-657a-49c0-b38e-312768dc8161_terseLabel_en-US" xlink:label="lab_srt_SegmentGeographicalDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Geographical [Domain] </link:label>
<link:label id="lab_srt_SegmentGeographicalDomain_label_en-US" xlink:label="lab_srt_SegmentGeographicalDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Geographical [Domain] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_srt_SegmentGeographicalDomain" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_SegmentGeographicalDomain"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_SegmentGeographicalDomain" xlink:to="lab_srt_SegmentGeographicalDomain" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FairValueOptionLoansHeldAsAssets90DaysOrMorePastDue_0eaeccc8-87ca-4bfc-b9e7-60cdd46a906f_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueOptionLoansHeldAsAssets90DaysOrMorePastDue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Nonaccrual loans 90 or more days past due </link:label>
<link:label id="lab_us-gaap_FairValueOptionLoansHeldAsAssets90DaysOrMorePastDue_label_en-US" xlink:label="lab_us-gaap_FairValueOptionLoansHeldAsAssets90DaysOrMorePastDue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value, Option, Loans Held as Assets, 90 Days or More Past Due </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueOptionLoansHeldAsAssets90DaysOrMorePastDue" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueOptionLoansHeldAsAssets90DaysOrMorePastDue"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueOptionLoansHeldAsAssets90DaysOrMorePastDue" xlink:to="lab_us-gaap_FairValueOptionLoansHeldAsAssets90DaysOrMorePastDue" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_6f5287dc-5ade-4ced-bb07-2d9200f623e7_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Finite-Lived Intangible Assets by Major Class [Axis] </link:label>
<link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Finite-Lived Intangible Assets by Major Class [Axis] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_CollateralizedAgreementsAbstract_a59468f2-8a17-4601-8c85-4ea801a3b467_terseLabel_en-US" xlink:label="lab_us-gaap_CollateralizedAgreementsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Collateralized Agreements [Abstract] </link:label>
<link:label id="lab_us-gaap_CollateralizedAgreementsAbstract_label_en-US" xlink:label="lab_us-gaap_CollateralizedAgreementsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Collateralized Agreements [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CollateralizedAgreementsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CollateralizedAgreementsAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CollateralizedAgreementsAbstract" xlink:to="lab_us-gaap_CollateralizedAgreementsAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_srt_AsiaMember_693c9ad8-66c8-49ca-8018-9350a8fbc033_terseLabel_en-US" xlink:label="lab_srt_AsiaMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Asia </link:label>
<link:label id="lab_srt_AsiaMember_label_en-US" xlink:label="lab_srt_AsiaMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Asia [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_srt_AsiaMember" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_AsiaMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_AsiaMember" xlink:to="lab_srt_AsiaMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract_eeda6ba1-d503-49ca-a77a-2c0bc566e81e_terseLabel_en-US" xlink:label="lab_us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Goodwill and Intangible Assets Disclosure [Abstract] </link:label>
<link:label id="lab_us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract_label_en-US" xlink:label="lab_us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Goodwill and Intangible Assets Disclosure [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract" xlink:to="lab_us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_LiabilitiesFairValueDisclosure_52ff644a-55c3-4691-9431-464bb9294b76_totalLabel_en-US" xlink:label="lab_us-gaap_LiabilitiesFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Total liabilities at fair value </link:label>
<link:label id="lab_us-gaap_LiabilitiesFairValueDisclosure_94c00c7a-4060-4678-9648-312de1c48587_terseLabel_en-US" xlink:label="lab_us-gaap_LiabilitiesFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Total </link:label>
<link:label id="lab_us-gaap_LiabilitiesFairValueDisclosure_label_en-US" xlink:label="lab_us-gaap_LiabilitiesFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Liabilities, Fair Value Disclosure </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LiabilitiesFairValueDisclosure" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LiabilitiesFairValueDisclosure"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LiabilitiesFairValueDisclosure" xlink:to="lab_us-gaap_LiabilitiesFairValueDisclosure" xlink:type="arc" order="1"/>
<link:label id="lab_ms_InstitutionalSecuritiesSegmentMember_025189b3-9804-49ce-9912-220ca31215f6_terseLabel_en-US" xlink:label="lab_ms_InstitutionalSecuritiesSegmentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> IS </link:label>
<link:label id="lab_ms_InstitutionalSecuritiesSegmentMember_48ec028d-6fed-47e9-8188-875f7fcb14f9_verboseLabel_en-US" xlink:label="lab_ms_InstitutionalSecuritiesSegmentMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Institutional Securities </link:label>
<link:label id="lab_ms_InstitutionalSecuritiesSegmentMember_label_en-US" xlink:label="lab_ms_InstitutionalSecuritiesSegmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Institutional Securities Segment [Member] </link:label>
<link:label id="lab_ms_InstitutionalSecuritiesSegmentMember_documentation_en-US" xlink:label="lab_ms_InstitutionalSecuritiesSegmentMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Institutional Securities Segment [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_InstitutionalSecuritiesSegmentMember" xlink:href="ms-20231231.xsd#ms_InstitutionalSecuritiesSegmentMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_InstitutionalSecuritiesSegmentMember" xlink:to="lab_ms_InstitutionalSecuritiesSegmentMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DerivativeFinancialInstrumentsAssetsMember_5e664dfe-96a4-4ead-a1b5-3babb061f966_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeFinancialInstrumentsAssetsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative and other contracts </link:label>
<link:label id="lab_us-gaap_DerivativeFinancialInstrumentsAssetsMember_label_en-US" xlink:label="lab_us-gaap_DerivativeFinancialInstrumentsAssetsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative Financial Instruments, Assets [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeFinancialInstrumentsAssetsMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DerivativeFinancialInstrumentsAssetsMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeFinancialInstrumentsAssetsMember" xlink:to="lab_us-gaap_DerivativeFinancialInstrumentsAssetsMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DerivativeLiabilitiesAbstract_d12edd1a-7d5a-4a8b-91ea-c7ec0f189b65_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeLiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative Liabilities </link:label>
<link:label id="lab_us-gaap_DerivativeLiabilitiesAbstract_label_en-US" xlink:label="lab_us-gaap_DerivativeLiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative Liability [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeLiabilitiesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DerivativeLiabilitiesAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeLiabilitiesAbstract" xlink:to="lab_us-gaap_DerivativeLiabilitiesAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_OperatingLeaseRightOfUseAssetStatementOfFinancialPositionExtensibleList_274d043e-87dc-4e27-9a9e-817ea02cd515_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeaseRightOfUseAssetStatementOfFinancialPositionExtensibleList" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List] </link:label>
<link:label id="lab_us-gaap_OperatingLeaseRightOfUseAssetStatementOfFinancialPositionExtensibleList_label_en-US" xlink:label="lab_us-gaap_OperatingLeaseRightOfUseAssetStatementOfFinancialPositionExtensibleList" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingLeaseRightOfUseAssetStatementOfFinancialPositionExtensibleList" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OperatingLeaseRightOfUseAssetStatementOfFinancialPositionExtensibleList"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingLeaseRightOfUseAssetStatementOfFinancialPositionExtensibleList" xlink:to="lab_us-gaap_OperatingLeaseRightOfUseAssetStatementOfFinancialPositionExtensibleList" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_IncomeTaxesPaidNet_3683d86c-daf2-4643-9137-6d4dc8e2db1b_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxesPaidNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Cash payments for income taxes, net of refunds </link:label>
<link:label id="lab_us-gaap_IncomeTaxesPaidNet_label_en-US" xlink:label="lab_us-gaap_IncomeTaxesPaidNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Income Taxes Paid, Net </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeTaxesPaidNet" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_IncomeTaxesPaidNet"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeTaxesPaidNet" xlink:to="lab_us-gaap_IncomeTaxesPaidNet" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPurchases_40b0b22e-bae2-49b1-935f-883027dfae1c_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPurchases" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Purchases </link:label>
<link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPurchases_label_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPurchases" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Purchases </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPurchases" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPurchases"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPurchases" xlink:to="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPurchases" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FinancingReceivableModifiedSubsequentDefaultLineItems_31784af0-0acc-4f08-b726-ace94b5e66b3_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableModifiedSubsequentDefaultLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financing Receivable, Modified, Subsequent Default [Line Items] </link:label>
<link:label id="lab_us-gaap_FinancingReceivableModifiedSubsequentDefaultLineItems_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableModifiedSubsequentDefaultLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financing Receivable, Modified, Subsequent Default [Line Items] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableModifiedSubsequentDefaultLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FinancingReceivableModifiedSubsequentDefaultLineItems"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableModifiedSubsequentDefaultLineItems" xlink:to="lab_us-gaap_FinancingReceivableModifiedSubsequentDefaultLineItems" xlink:type="arc" order="1"/>
<link:label id="lab_ms_OtherSecuredFinancingsMeasurementInput_0cf1f367-8b21-497c-8e39-5e6a554de47b_terseLabel_en-US" xlink:label="lab_ms_OtherSecuredFinancingsMeasurementInput" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other secured financings, measurement input value </link:label>
<link:label id="lab_ms_OtherSecuredFinancingsMeasurementInput_label_en-US" xlink:label="lab_ms_OtherSecuredFinancingsMeasurementInput" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other Secured Financings, Measurement Input </link:label>
<link:label id="lab_ms_OtherSecuredFinancingsMeasurementInput_documentation_en-US" xlink:label="lab_ms_OtherSecuredFinancingsMeasurementInput" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Value of input used to measure other secured financings. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_OtherSecuredFinancingsMeasurementInput" xlink:href="ms-20231231.xsd#ms_OtherSecuredFinancingsMeasurementInput"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_OtherSecuredFinancingsMeasurementInput" xlink:to="lab_ms_OtherSecuredFinancingsMeasurementInput" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock_eda910d4-4a14-4714-b7d5-eb765ed0277c_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Stock-Based Compensation Expense </link:label>
<link:label id="lab_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock" xlink:to="lab_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_LiabilitiesAndStockholdersEquity_2f922121-b30f-4168-bb89-d2d5fa13f6d4_totalLabel_en-US" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquity" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Total liabilities and equity </link:label>
<link:label id="lab_us-gaap_LiabilitiesAndStockholdersEquity_label_en-US" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Liabilities and Equity </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LiabilitiesAndStockholdersEquity" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LiabilitiesAndStockholdersEquity"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquity" xlink:to="lab_us-gaap_LiabilitiesAndStockholdersEquity" xlink:type="arc" order="1"/>
<link:label id="lab_ms_VariableInterestEntityReportingEntityInvolvementUnpaidPrincipalBalanceAmount_3ee3681d-34c2-446f-a8e1-20e843ee96d7_terseLabel_en-US" xlink:label="lab_ms_VariableInterestEntityReportingEntityInvolvementUnpaidPrincipalBalanceAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> VIE assets (UPB) </link:label>
<link:label id="lab_ms_VariableInterestEntityReportingEntityInvolvementUnpaidPrincipalBalanceAmount_a089b7d1-228b-4fc7-8029-111245ed7508_verboseLabel_en-US" xlink:label="lab_ms_VariableInterestEntityReportingEntityInvolvementUnpaidPrincipalBalanceAmount" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> UPB </link:label>
<link:label id="lab_ms_VariableInterestEntityReportingEntityInvolvementUnpaidPrincipalBalanceAmount_label_en-US" xlink:label="lab_ms_VariableInterestEntityReportingEntityInvolvementUnpaidPrincipalBalanceAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Variable Interest Entity, Reporting Entity Involvement, Unpaid Principal Balance, Amount </link:label>
<link:label id="lab_ms_VariableInterestEntityReportingEntityInvolvementUnpaidPrincipalBalanceAmount_documentation_en-US" xlink:label="lab_ms_VariableInterestEntityReportingEntityInvolvementUnpaidPrincipalBalanceAmount" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> The unpaid principal balance of Variable Interest Entity (VIE) assets, where the reporting entity is not the VIE’s primary beneficiary. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_VariableInterestEntityReportingEntityInvolvementUnpaidPrincipalBalanceAmount" xlink:href="ms-20231231.xsd#ms_VariableInterestEntityReportingEntityInvolvementUnpaidPrincipalBalanceAmount"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_VariableInterestEntityReportingEntityInvolvementUnpaidPrincipalBalanceAmount" xlink:to="lab_ms_VariableInterestEntityReportingEntityInvolvementUnpaidPrincipalBalanceAmount" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_CashAndDueFromBanks_4c1b1340-0538-442f-895f-4769737c8ff6_terseLabel_en-US" xlink:label="lab_us-gaap_CashAndDueFromBanks" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Cash and due from banks </link:label>
<link:label id="lab_us-gaap_CashAndDueFromBanks_label_en-US" xlink:label="lab_us-gaap_CashAndDueFromBanks" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Cash and Due from Banks </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashAndDueFromBanks" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CashAndDueFromBanks"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashAndDueFromBanks" xlink:to="lab_us-gaap_CashAndDueFromBanks" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DebtInstrumentTable_dbab2046-c7d4-466d-a773-285bda85a777_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Long-term Debt Instruments [Table] </link:label>
<link:label id="lab_us-gaap_DebtInstrumentTable_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Long-Term Debt Instruments [Table] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentTable" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DebtInstrumentTable"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentTable" xlink:to="lab_us-gaap_DebtInstrumentTable" xlink:type="arc" order="1"/>
<link:label id="lab_ms_AdvancesToSubsidiariesAbstract_52e4797e-8f9d-4670-a59f-0d3fde013b93_terseLabel_en-US" xlink:label="lab_ms_AdvancesToSubsidiariesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Advances to subsidiaries: </link:label>
<link:label id="lab_ms_AdvancesToSubsidiariesAbstract_label_en-US" xlink:label="lab_ms_AdvancesToSubsidiariesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Advances To Subsidiaries [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_AdvancesToSubsidiariesAbstract" xlink:href="ms-20231231.xsd#ms_AdvancesToSubsidiariesAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_AdvancesToSubsidiariesAbstract" xlink:to="lab_ms_AdvancesToSubsidiariesAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DefinedBenefitPlanAssumptionsUsedCalculatingBenefitObligationDiscountRate_99a3e488-a6a1-44a5-ac84-9ddc9ac556f8_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanAssumptionsUsedCalculatingBenefitObligationDiscountRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Discount rate (as a percent) </link:label>
<link:label id="lab_us-gaap_DefinedBenefitPlanAssumptionsUsedCalculatingBenefitObligationDiscountRate_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanAssumptionsUsedCalculatingBenefitObligationDiscountRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanAssumptionsUsedCalculatingBenefitObligationDiscountRate" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DefinedBenefitPlanAssumptionsUsedCalculatingBenefitObligationDiscountRate"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanAssumptionsUsedCalculatingBenefitObligationDiscountRate" xlink:to="lab_us-gaap_DefinedBenefitPlanAssumptionsUsedCalculatingBenefitObligationDiscountRate" xlink:type="arc" order="1"/>
<link:label id="lab_ms_MortgageAndAssetBackedSecuritiesMember_65467d79-a500-48b2-a6ad-38c7dfba07e0_terseLabel_en-US" xlink:label="lab_ms_MortgageAndAssetBackedSecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> MABS </link:label>
<link:label id="lab_ms_MortgageAndAssetBackedSecuritiesMember_label_en-US" xlink:label="lab_ms_MortgageAndAssetBackedSecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Mortgage and Asset-Backed Securities [Member] </link:label>
<link:label id="lab_ms_MortgageAndAssetBackedSecuritiesMember_documentation_en-US" xlink:label="lab_ms_MortgageAndAssetBackedSecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Mortgage and Asset-Backed Securities </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_MortgageAndAssetBackedSecuritiesMember" xlink:href="ms-20231231.xsd#ms_MortgageAndAssetBackedSecuritiesMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_MortgageAndAssetBackedSecuritiesMember" xlink:to="lab_ms_MortgageAndAssetBackedSecuritiesMember" xlink:type="arc" order="1"/>
<link:label id="lab_dei_EntityAddressCityOrTown_5c953052-a2d9-4876-bf58-be43392adb34_terseLabel_en-US" xlink:label="lab_dei_EntityAddressCityOrTown" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Entity Address, City or Town </link:label>
<link:label id="lab_dei_EntityAddressCityOrTown_label_en-US" xlink:label="lab_dei_EntityAddressCityOrTown" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Entity Address, City or Town </link:label>
<link:loc xlink:type="locator" xlink:label="loc_dei_EntityAddressCityOrTown" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressCityOrTown"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityAddressCityOrTown" xlink:to="lab_dei_EntityAddressCityOrTown" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock_f71e81e6-3f59-4eb7-91b3-af0371340399_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Selected Financial Information by Business Segment </link:label>
<link:label id="lab_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Segment Reporting Information, by Segment [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock" xlink:to="lab_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_ms_IndexAndBasketCreditDefaultSwapMember_4ea08140-e4b2-407b-b211-0314c32431da_verboseLabel_en-US" xlink:label="lab_ms_IndexAndBasketCreditDefaultSwapMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Index and basket </link:label>
<link:label id="lab_ms_IndexAndBasketCreditDefaultSwapMember_label_en-US" xlink:label="lab_ms_IndexAndBasketCreditDefaultSwapMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Index and Basket Credit Default Swap [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_IndexAndBasketCreditDefaultSwapMember" xlink:href="ms-20231231.xsd#ms_IndexAndBasketCreditDefaultSwapMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_IndexAndBasketCreditDefaultSwapMember" xlink:to="lab_ms_IndexAndBasketCreditDefaultSwapMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostNotYetRecognizedTableTextBlock_9d74d369-974c-4a26-84ff-7f7d87e4c322_terseLabel_en-US" xlink:label="lab_ms_EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostNotYetRecognizedTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Unrecognized Compensation Cost Related to Stock-Based Awards Granted </link:label>
<link:label id="lab_ms_EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostNotYetRecognizedTableTextBlock_label_en-US" xlink:label="lab_ms_EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostNotYetRecognizedTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not Yet Recognized [Table Text Block] </link:label>
<link:label id="lab_ms_EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostNotYetRecognizedTableTextBlock_documentation_en-US" xlink:label="lab_ms_EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostNotYetRecognizedTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Tabular disclosure of unrecognized cost of unvested share-based compensation awards. </link:label>
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<link:label id="lab_us-gaap_InterestExpenseBorrowings_0f4e16ba-3a4c-49dd-a954-da46ca501bb1_terseLabel_en-US" xlink:label="lab_us-gaap_InterestExpenseBorrowings" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Borrowings </link:label>
<link:label id="lab_us-gaap_InterestExpenseBorrowings_label_en-US" xlink:label="lab_us-gaap_InterestExpenseBorrowings" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Interest Expense, Borrowings </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestExpenseBorrowings" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_InterestExpenseBorrowings"/>
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<link:label id="lab_us-gaap_FairValueOfFinancialInstrumentsPolicy_326c74c0-12af-4e13-bb0c-27ac41132059_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueOfFinancialInstrumentsPolicy" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value of Financial Instruments </link:label>
<link:label id="lab_us-gaap_FairValueOfFinancialInstrumentsPolicy_label_en-US" xlink:label="lab_us-gaap_FairValueOfFinancialInstrumentsPolicy" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value of Financial Instruments, Policy [Policy Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueOfFinancialInstrumentsPolicy" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueOfFinancialInstrumentsPolicy"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueOfFinancialInstrumentsPolicy" xlink:to="lab_us-gaap_FairValueOfFinancialInstrumentsPolicy" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_IncreaseDecreaseInDeposits_3e9149ee-18e0-47b9-8f17-92a9e75d1296_verboseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInDeposits" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Deposits </link:label>
<link:label id="lab_us-gaap_IncreaseDecreaseInDeposits_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInDeposits" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Increase (Decrease) in Deposits </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInDeposits" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_IncreaseDecreaseInDeposits"/>
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<link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax_5f25db94-232c-4378-8b08-a5cc0e8a34cb_totalLabel_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Total </link:label>
<link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax_label_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax"/>
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<link:label id="lab_ms_OtherLiabilitiesAndAccruedExpensesFairValueDisclosure_3fefc6b0-e557-4845-bdd4-48e449211eda_terseLabel_en-US" xlink:label="lab_ms_OtherLiabilitiesAndAccruedExpensesFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other liabilities and accrued expenses—Lending commitments </link:label>
<link:label id="lab_ms_OtherLiabilitiesAndAccruedExpensesFairValueDisclosure_label_en-US" xlink:label="lab_ms_OtherLiabilitiesAndAccruedExpensesFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other Liabilities and accrued expenses, Fair Value Disclosure </link:label>
<link:label id="lab_ms_OtherLiabilitiesAndAccruedExpensesFairValueDisclosure_documentation_en-US" xlink:label="lab_ms_OtherLiabilitiesAndAccruedExpensesFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair value portion of other liabilities and accrued expenses </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_OtherLiabilitiesAndAccruedExpensesFairValueDisclosure" xlink:href="ms-20231231.xsd#ms_OtherLiabilitiesAndAccruedExpensesFairValueDisclosure"/>
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<link:label id="lab_dei_DocumentInformationTable_18eba177-de7a-4ac8-a419-e0c89ac3d804_terseLabel_en-US" xlink:label="lab_dei_DocumentInformationTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Document Information [Table] </link:label>
<link:label id="lab_dei_DocumentInformationTable_label_en-US" xlink:label="lab_dei_DocumentInformationTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Document Information [Table] </link:label>
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<link:label id="lab_us-gaap_FinancingReceivablesPeriodPastDueAxis_c1a5212f-5e8d-427e-8f70-1eb71af3ebc4_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivablesPeriodPastDueAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financial Asset, Period Past Due [Axis] </link:label>
<link:label id="lab_us-gaap_FinancingReceivablesPeriodPastDueAxis_label_en-US" xlink:label="lab_us-gaap_FinancingReceivablesPeriodPastDueAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financial Asset, Aging [Axis] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivablesPeriodPastDueAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FinancingReceivablesPeriodPastDueAxis"/>
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<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_6fc75271-b5e9-42be-8958-d3a2b9cac819_negatedLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Conversions to common stock (in shares) </link:label>
<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Exercised </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised"/>
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<link:label id="lab_us-gaap_AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax_d529bafe-5687-4754-89b6-a65297553e77_terseLabel_en-US" xlink:label="lab_us-gaap_AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Gross Unrealized Gains </link:label>
<link:label id="lab_us-gaap_AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax_label_en-US" xlink:label="lab_us-gaap_AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Gain, before Tax </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax"/>
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<link:label id="lab_us-gaap_SecuritiesBorrowedCollateralObligationToReturnCash_5f416589-0460-424c-aeec-4beda3e7bd1a_negatedLabel_en-US" xlink:label="lab_us-gaap_SecuritiesBorrowedCollateralObligationToReturnCash" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Amounts Not Offset </link:label>
<link:label id="lab_us-gaap_SecuritiesBorrowedCollateralObligationToReturnCash_label_en-US" xlink:label="lab_us-gaap_SecuritiesBorrowedCollateralObligationToReturnCash" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Security Borrowed, Subject to Master Netting Arrangement, Collateral, Obligation to Return Cash Not Offset </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_SecuritiesBorrowedCollateralObligationToReturnCash" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SecuritiesBorrowedCollateralObligationToReturnCash"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SecuritiesBorrowedCollateralObligationToReturnCash" xlink:to="lab_us-gaap_SecuritiesBorrowedCollateralObligationToReturnCash" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_CashFlowsBetweenTransfereeAndTransferorProceedsFromNewTransfers_43464f78-7dc0-413b-9ede-0517ab38a066_terseLabel_en-US" xlink:label="lab_us-gaap_CashFlowsBetweenTransfereeAndTransferorProceedsFromNewTransfers" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> New transactions </link:label>
<link:label id="lab_us-gaap_CashFlowsBetweenTransfereeAndTransferorProceedsFromNewTransfers_label_en-US" xlink:label="lab_us-gaap_CashFlowsBetweenTransfereeAndTransferorProceedsFromNewTransfers" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Cash Flows Between Transferor and Transferee, Proceeds from New Transfers </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashFlowsBetweenTransfereeAndTransferorProceedsFromNewTransfers" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CashFlowsBetweenTransfereeAndTransferorProceedsFromNewTransfers"/>
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<link:label id="lab_us-gaap_UnderlyingAssetClassDomain_bbeb0617-e6d4-4164-a220-b63eef4dfb7b_terseLabel_en-US" xlink:label="lab_us-gaap_UnderlyingAssetClassDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Underlying Asset Class [Domain] </link:label>
<link:label id="lab_us-gaap_UnderlyingAssetClassDomain_label_en-US" xlink:label="lab_us-gaap_UnderlyingAssetClassDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Underlying Asset Class [Domain] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_UnderlyingAssetClassDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_UnderlyingAssetClassDomain"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_UnderlyingAssetClassDomain" xlink:to="lab_us-gaap_UnderlyingAssetClassDomain" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_SecuritiesPurchasedUnderAgreementsToResellGrossIncludingNotSubjectToMasterNettingArrangement_48a094dc-527f-48a0-81db-3da24032596b_terseLabel_en-US" xlink:label="lab_us-gaap_SecuritiesPurchasedUnderAgreementsToResellGrossIncludingNotSubjectToMasterNettingArrangement" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Gross Amounts </link:label>
<link:label id="lab_us-gaap_SecuritiesPurchasedUnderAgreementsToResellGrossIncludingNotSubjectToMasterNettingArrangement_label_en-US" xlink:label="lab_us-gaap_SecuritiesPurchasedUnderAgreementsToResellGrossIncludingNotSubjectToMasterNettingArrangement" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Securities Purchased under Agreements to Resell, Gross Including Not Subject to Master Netting Arrangement </link:label>
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<link:label id="lab_us-gaap_MeasurementInputTypeAxis_6ee48a27-3633-4eb6-9634-0cfd586d3819_terseLabel_en-US" xlink:label="lab_us-gaap_MeasurementInputTypeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Measurement Input Type [Axis] </link:label>
<link:label id="lab_us-gaap_MeasurementInputTypeAxis_label_en-US" xlink:label="lab_us-gaap_MeasurementInputTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Measurement Input Type [Axis] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_MeasurementInputTypeAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_MeasurementInputTypeAxis"/>
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<link:label id="lab_us-gaap_SecuritiesSoldUnderAgreementsToRepurchaseCollateralRightToReclaimCash_9b8096bc-930d-4ead-b1af-22a7a430dcfe_negatedLabel_en-US" xlink:label="lab_us-gaap_SecuritiesSoldUnderAgreementsToRepurchaseCollateralRightToReclaimCash" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Amounts Not Offset </link:label>
<link:label id="lab_us-gaap_SecuritiesSoldUnderAgreementsToRepurchaseCollateralRightToReclaimCash_label_en-US" xlink:label="lab_us-gaap_SecuritiesSoldUnderAgreementsToRepurchaseCollateralRightToReclaimCash" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Security Sold under Agreement to Repurchase, Subject to Master Netting Arrangement, Collateral, Right to Reclaim Cash Not Offset </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_SecuritiesSoldUnderAgreementsToRepurchaseCollateralRightToReclaimCash" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SecuritiesSoldUnderAgreementsToRepurchaseCollateralRightToReclaimCash"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SecuritiesSoldUnderAgreementsToRepurchaseCollateralRightToReclaimCash" xlink:to="lab_us-gaap_SecuritiesSoldUnderAgreementsToRepurchaseCollateralRightToReclaimCash" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ReclassificationFromAociCurrentPeriodTax_cd3266aa-5d08-422c-9e1b-2bc20f6aa50d_terseLabel_en-US" xlink:label="lab_us-gaap_ReclassificationFromAociCurrentPeriodTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Reclassified to earnings </link:label>
<link:label id="lab_us-gaap_ReclassificationFromAociCurrentPeriodTax_label_en-US" xlink:label="lab_us-gaap_ReclassificationFromAociCurrentPeriodTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Reclassification from AOCI, Current Period, Tax </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ReclassificationFromAociCurrentPeriodTax" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ReclassificationFromAociCurrentPeriodTax"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ReclassificationFromAociCurrentPeriodTax" xlink:to="lab_us-gaap_ReclassificationFromAociCurrentPeriodTax" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FairValueOptionCreditRiskGainsLossesOnAssets_a583c3e8-51d7-4715-a541-c1a1ab736cff_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueOptionCreditRiskGainsLossesOnAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Gains (losses) due to changes in instrument-specific credit risk </link:label>
<link:label id="lab_us-gaap_FairValueOptionCreditRiskGainsLossesOnAssets_label_en-US" xlink:label="lab_us-gaap_FairValueOptionCreditRiskGainsLossesOnAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value, Option, Credit Risk, Gains (Losses) on Assets </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueOptionCreditRiskGainsLossesOnAssets" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueOptionCreditRiskGainsLossesOnAssets"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueOptionCreditRiskGainsLossesOnAssets" xlink:to="lab_us-gaap_FairValueOptionCreditRiskGainsLossesOnAssets" xlink:type="arc" order="1"/>
<link:label id="lab_ms_CreditLinkedNotesAndOtherMember_c36b7bfb-25b1-4d89-8f56-5278d5dcf9f9_verboseLabel_en-US" xlink:label="lab_ms_CreditLinkedNotesAndOtherMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> CLN and Other </link:label>
<link:label id="lab_ms_CreditLinkedNotesAndOtherMember_label_en-US" xlink:label="lab_ms_CreditLinkedNotesAndOtherMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Credit-Linked Notes and Other [Member] </link:label>
<link:label id="lab_ms_CreditLinkedNotesAndOtherMember_documentation_en-US" xlink:label="lab_ms_CreditLinkedNotesAndOtherMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Credit-Linked Notes and Other [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_CreditLinkedNotesAndOtherMember" xlink:href="ms-20231231.xsd#ms_CreditLinkedNotesAndOtherMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_CreditLinkedNotesAndOtherMember" xlink:to="lab_ms_CreditLinkedNotesAndOtherMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_AdditionalPaidInCapital_9eec6268-fe62-4cd4-9d5f-82d6410de954_terseLabel_en-US" xlink:label="lab_us-gaap_AdditionalPaidInCapital" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Additional paid-in capital </link:label>
<link:label id="lab_us-gaap_AdditionalPaidInCapital_label_en-US" xlink:label="lab_us-gaap_AdditionalPaidInCapital" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Additional Paid in Capital </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AdditionalPaidInCapital" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AdditionalPaidInCapital"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AdditionalPaidInCapital" xlink:to="lab_us-gaap_AdditionalPaidInCapital" xlink:type="arc" order="1"/>
<link:label id="lab_ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalYearOne_db735228-592c-4582-8d88-4d8233901379_terseLabel_en-US" xlink:label="lab_ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalYearOne" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Year 1 </link:label>
<link:label id="lab_ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalYearOne_label_en-US" xlink:label="lab_ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalYearOne" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Transfers Accounted for as Secured Borrowings, Associated Liabilities, Maturities, Repayments of Principal, Year One </link:label>
<link:label id="lab_ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalYearOne_documentation_en-US" xlink:label="lab_ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalYearOne" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Amount of liabilities associated with financial assets accounted for as secured borrowings maturing in the next fiscal year following the latest fiscal year. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalYearOne" xlink:href="ms-20231231.xsd#ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalYearOne"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalYearOne" xlink:to="lab_ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalYearOne" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue_3f910803-6749-429a-b5e4-d1fe872eac67_terseLabel_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> AFS securities: Fair value, after 5 years through 10 years </link:label>
<link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue_label_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 5 Through 10 </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue" xlink:to="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DefinedBenefitPlanActualReturnOnPlanAssetsStillHeld_c9307c87-6b7f-4b1a-98b9-e9eb64cc69e0_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanActualReturnOnPlanAssetsStillHeld" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Realized and unrealized gains </link:label>
<link:label id="lab_us-gaap_DefinedBenefitPlanActualReturnOnPlanAssetsStillHeld_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanActualReturnOnPlanAssetsStillHeld" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Defined Benefit Plan, Plan Assets Level 3 Reconciliation, Increase (Decrease) for Actual Return (Loss) on Plan Assets Still Held </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanActualReturnOnPlanAssetsStillHeld" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DefinedBenefitPlanActualReturnOnPlanAssetsStillHeld"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanActualReturnOnPlanAssetsStillHeld" xlink:to="lab_us-gaap_DefinedBenefitPlanActualReturnOnPlanAssetsStillHeld" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss_c4875f97-e2fd-43fb-8511-780fb42531b0_verboseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Total loans </link:label>
<link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss_a57a190b-be46-4ebf-b312-4405bb033dc8_totalLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Total </link:label>
<link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" xlink:to="lab_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" xlink:type="arc" order="1"/>
<link:label id="lab_ms_FinancingReceivableIncludingHeldForSaleAfterAllowanceForCreditLoss_7a857516-8007-48b7-87c2-6df727e5cbc8_totalLabel_en-US" xlink:label="lab_ms_FinancingReceivableIncludingHeldForSaleAfterAllowanceForCreditLoss" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Total loans, net </link:label>
<link:label id="lab_ms_FinancingReceivableIncludingHeldForSaleAfterAllowanceForCreditLoss_label_en-US" xlink:label="lab_ms_FinancingReceivableIncludingHeldForSaleAfterAllowanceForCreditLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financing Receivable including Held-for-Sale, after Allowance for Credit Loss </link:label>
<link:label id="lab_ms_FinancingReceivableIncludingHeldForSaleAfterAllowanceForCreditLoss_documentation_en-US" xlink:label="lab_ms_FinancingReceivableIncludingHeldForSaleAfterAllowanceForCreditLoss" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financing Receivable including Held-for-Sale, after Allowance for Credit Loss </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_FinancingReceivableIncludingHeldForSaleAfterAllowanceForCreditLoss" xlink:href="ms-20231231.xsd#ms_FinancingReceivableIncludingHeldForSaleAfterAllowanceForCreditLoss"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_FinancingReceivableIncludingHeldForSaleAfterAllowanceForCreditLoss" xlink:to="lab_ms_FinancingReceivableIncludingHeldForSaleAfterAllowanceForCreditLoss" xlink:type="arc" order="1"/>
<link:label id="lab_ms_AvailableForSaleSecuritiesDebtMaturitiesYearTwoThroughFiveAnnualizedAverageYield_91722125-ba5d-4f81-9600-c3750b0366e0_terseLabel_en-US" xlink:label="lab_ms_AvailableForSaleSecuritiesDebtMaturitiesYearTwoThroughFiveAnnualizedAverageYield" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> AFS securities: Annualized average yield, after 1 year through 5 years (as a percent) </link:label>
<link:label id="lab_ms_AvailableForSaleSecuritiesDebtMaturitiesYearTwoThroughFiveAnnualizedAverageYield_label_en-US" xlink:label="lab_ms_AvailableForSaleSecuritiesDebtMaturitiesYearTwoThroughFiveAnnualizedAverageYield" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Available-for-sale Securities, Debt Maturities, Year Two Through Five, Annualized Average Yield </link:label>
<link:label id="lab_ms_AvailableForSaleSecuritiesDebtMaturitiesYearTwoThroughFiveAnnualizedAverageYield_documentation_en-US" xlink:label="lab_ms_AvailableForSaleSecuritiesDebtMaturitiesYearTwoThroughFiveAnnualizedAverageYield" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Annualized average yield of available-for-sale debt securities maturing in the second fiscal year through the fifth fiscal year following the latest fiscal year. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_AvailableForSaleSecuritiesDebtMaturitiesYearTwoThroughFiveAnnualizedAverageYield" xlink:href="ms-20231231.xsd#ms_AvailableForSaleSecuritiesDebtMaturitiesYearTwoThroughFiveAnnualizedAverageYield"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_AvailableForSaleSecuritiesDebtMaturitiesYearTwoThroughFiveAnnualizedAverageYield" xlink:to="lab_ms_AvailableForSaleSecuritiesDebtMaturitiesYearTwoThroughFiveAnnualizedAverageYield" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember_aa08fce5-1763-4a67-b85f-842360e9466e_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative and other contracts </link:label>
<link:label id="lab_us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember_label_en-US" xlink:label="lab_us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative Financial Instruments, Liabilities [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember" xlink:to="lab_us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_OtherLoansMember_a0182cb0-1b41-41f1-b96c-0abcd632f4bc_terseLabel_en-US" xlink:label="lab_ms_OtherLoansMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other </link:label>
<link:label id="lab_ms_OtherLoansMember_label_en-US" xlink:label="lab_ms_OtherLoansMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other Loans [Member] </link:label>
<link:label id="lab_ms_OtherLoansMember_documentation_en-US" xlink:label="lab_ms_OtherLoansMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other Loans [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_OtherLoansMember" xlink:href="ms-20231231.xsd#ms_OtherLoansMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_OtherLoansMember" xlink:to="lab_ms_OtherLoansMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_AOCIAttributableToParentNetOfTaxRollForward_7a027408-3f05-4089-820d-8b5dfdf44659_terseLabel_en-US" xlink:label="lab_us-gaap_AOCIAttributableToParentNetOfTaxRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> AOCI Attributable to Parent, Net of Tax [Roll Forward] </link:label>
<link:label id="lab_us-gaap_AOCIAttributableToParentNetOfTaxRollForward_label_en-US" xlink:label="lab_us-gaap_AOCIAttributableToParentNetOfTaxRollForward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> AOCI Attributable to Parent, Net of Tax [Roll Forward] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AOCIAttributableToParentNetOfTaxRollForward" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AOCIAttributableToParentNetOfTaxRollForward"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AOCIAttributableToParentNetOfTaxRollForward" xlink:to="lab_us-gaap_AOCIAttributableToParentNetOfTaxRollForward" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_bdc3324e-45d4-4c88-8eed-7a0e6c746251_terseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Related Party, Type [Axis] </link:label>
<link:label id="lab_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_label_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Related Party, Type [Axis] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_RelatedPartyTransactionsByRelatedPartyAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:to="lab_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_SecuritiesLoanedAmountOffsetAgainstCollateral_eaa15a71-9881-4469-bdf6-896ef53b806b_totalLabel_en-US" xlink:label="lab_us-gaap_SecuritiesLoanedAmountOffsetAgainstCollateral" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Net Amounts </link:label>
<link:label id="lab_us-gaap_SecuritiesLoanedAmountOffsetAgainstCollateral_label_en-US" xlink:label="lab_us-gaap_SecuritiesLoanedAmountOffsetAgainstCollateral" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Security Loaned, Including Not Subject to Master Netting Arrangement, after Offset and Deduction </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_SecuritiesLoanedAmountOffsetAgainstCollateral" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SecuritiesLoanedAmountOffsetAgainstCollateral"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SecuritiesLoanedAmountOffsetAgainstCollateral" xlink:to="lab_us-gaap_SecuritiesLoanedAmountOffsetAgainstCollateral" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation_804e2926-3762-4c38-8b21-9899c2a8b605_terseLabel_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other (in shares) </link:label>
<link:label id="lab_us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation_label_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Shares Issued, Shares, Share-Based Payment Arrangement, after Forfeiture </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation" xlink:to="lab_us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_InterestBearingDepositsInBanks_946fb5e6-5ecd-41de-854e-a86513ae9c94_terseLabel_en-US" xlink:label="lab_us-gaap_InterestBearingDepositsInBanks" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Interest bearing deposits with banks </link:label>
<link:label id="lab_us-gaap_InterestBearingDepositsInBanks_label_en-US" xlink:label="lab_us-gaap_InterestBearingDepositsInBanks" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Interest-Bearing Deposits in Banks and Other Financial Institutions </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestBearingDepositsInBanks" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_InterestBearingDepositsInBanks"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestBearingDepositsInBanks" xlink:to="lab_us-gaap_InterestBearingDepositsInBanks" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_MarketValueGuaranteeMember_466b9ffa-fe2b-44a7-85b0-7929063a0fab_terseLabel_en-US" xlink:label="lab_us-gaap_MarketValueGuaranteeMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Market value guarantees </link:label>
<link:label id="lab_us-gaap_MarketValueGuaranteeMember_label_en-US" xlink:label="lab_us-gaap_MarketValueGuaranteeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value Guarantee [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_MarketValueGuaranteeMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_MarketValueGuaranteeMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MarketValueGuaranteeMember" xlink:to="lab_us-gaap_MarketValueGuaranteeMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_MeasurementInputCommodityVolatilityMember_a31205ff-33fc-47a8-8f2e-b0b5cda1fb1e_terseLabel_en-US" xlink:label="lab_ms_MeasurementInputCommodityVolatilityMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Commodity Volatility </link:label>
<link:label id="lab_ms_MeasurementInputCommodityVolatilityMember_label_en-US" xlink:label="lab_ms_MeasurementInputCommodityVolatilityMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Measurement Input, Commodity Volatility [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_MeasurementInputCommodityVolatilityMember" xlink:href="ms-20231231.xsd#ms_MeasurementInputCommodityVolatilityMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_MeasurementInputCommodityVolatilityMember" xlink:to="lab_ms_MeasurementInputCommodityVolatilityMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesSingleMaturityDateAmortizedCostBasis_0c720deb-063e-41e8-81d2-31451ba64105_terseLabel_en-US" xlink:label="lab_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesSingleMaturityDateAmortizedCostBasis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Amortized Cost </link:label>
<link:label id="lab_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesSingleMaturityDateAmortizedCostBasis_0947abf1-c595-43b0-9908-c884f5515e53_totalLabel_en-US" xlink:label="lab_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesSingleMaturityDateAmortizedCostBasis" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> HTM securities: Net carrying amount, total </link:label>
<link:label id="lab_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesSingleMaturityDateAmortizedCostBasis_label_en-US" xlink:label="lab_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesSingleMaturityDateAmortizedCostBasis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Maturity, Allocated and Single Maturity Date </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesSingleMaturityDateAmortizedCostBasis" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_HeldToMaturitySecuritiesDebtMaturitiesSingleMaturityDateAmortizedCostBasis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesSingleMaturityDateAmortizedCostBasis" xlink:to="lab_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesSingleMaturityDateAmortizedCostBasis" xlink:type="arc" order="1"/>
<link:label id="lab_dei_AuditorName_17ff1e0a-7b2b-4c48-92ff-28ac1d005633_terseLabel_en-US" xlink:label="lab_dei_AuditorName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Auditor Name </link:label>
<link:label id="lab_dei_AuditorName_label_en-US" xlink:label="lab_dei_AuditorName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Auditor Name </link:label>
<link:loc xlink:type="locator" xlink:label="loc_dei_AuditorName" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_AuditorName"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_AuditorName" xlink:to="lab_dei_AuditorName" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_PreferredStockDividendRatePercentage_de17b908-e509-4402-b223-15f296b7d763_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockDividendRatePercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Dividend rate of preferred stock per annum (as a percent) </link:label>
<link:label id="lab_us-gaap_PreferredStockDividendRatePercentage_label_en-US" xlink:label="lab_us-gaap_PreferredStockDividendRatePercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Preferred Stock, Dividend Rate, Percentage </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_PreferredStockDividendRatePercentage" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PreferredStockDividendRatePercentage"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PreferredStockDividendRatePercentage" xlink:to="lab_us-gaap_PreferredStockDividendRatePercentage" xlink:type="arc" order="1"/>
<link:label id="lab_dei_EntityCentralIndexKey_4e7b266e-36bf-4d87-9e1c-32b9799b1b22_terseLabel_en-US" xlink:label="lab_dei_EntityCentralIndexKey" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Entity Central Index Key </link:label>
<link:label id="lab_dei_EntityCentralIndexKey_label_en-US" xlink:label="lab_dei_EntityCentralIndexKey" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Entity Central Index Key </link:label>
<link:loc xlink:type="locator" xlink:label="loc_dei_EntityCentralIndexKey" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityCentralIndexKey"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityCentralIndexKey" xlink:to="lab_dei_EntityCentralIndexKey" xlink:type="arc" order="1"/>
<link:label id="lab_ms_QualifyingSpecialPurposeEntitiesClassificationDomain_ef06d331-d879-4f99-8d11-0992e8250a10_terseLabel_en-US" xlink:label="lab_ms_QualifyingSpecialPurposeEntitiesClassificationDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Qualifying Special Purpose Entities, Classification [Domain] </link:label>
<link:label id="lab_ms_QualifyingSpecialPurposeEntitiesClassificationDomain_label_en-US" xlink:label="lab_ms_QualifyingSpecialPurposeEntitiesClassificationDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Qualifying Special Purpose Entities, Classification [Domain] </link:label>
<link:label id="lab_ms_QualifyingSpecialPurposeEntitiesClassificationDomain_documentation_en-US" xlink:label="lab_ms_QualifyingSpecialPurposeEntitiesClassificationDomain" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Qualifying Special Purpose Entity, Classification </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_QualifyingSpecialPurposeEntitiesClassificationDomain" xlink:href="ms-20231231.xsd#ms_QualifyingSpecialPurposeEntitiesClassificationDomain"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_QualifyingSpecialPurposeEntitiesClassificationDomain" xlink:to="lab_ms_QualifyingSpecialPurposeEntitiesClassificationDomain" xlink:type="arc" order="1"/>
<link:label id="lab_ms_LesseeOperatingLeaseLiabilityToBePaidYearSix_aa37148c-2862-4db0-87c2-0c1fdca1aabc_terseLabel_en-US" xlink:label="lab_ms_LesseeOperatingLeaseLiabilityToBePaidYearSix" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Year Six </link:label>
<link:label id="lab_ms_LesseeOperatingLeaseLiabilityToBePaidYearSix_label_en-US" xlink:label="lab_ms_LesseeOperatingLeaseLiabilityToBePaidYearSix" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Lessee, Operating Lease, Liability, to be Paid, Year Six </link:label>
<link:label id="lab_ms_LesseeOperatingLeaseLiabilityToBePaidYearSix_documentation_en-US" xlink:label="lab_ms_LesseeOperatingLeaseLiabilityToBePaidYearSix" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Lessee, Operating Lease, Liability, to be Paid, Year Six </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_LesseeOperatingLeaseLiabilityToBePaidYearSix" xlink:href="ms-20231231.xsd#ms_LesseeOperatingLeaseLiabilityToBePaidYearSix"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_LesseeOperatingLeaseLiabilityToBePaidYearSix" xlink:to="lab_ms_LesseeOperatingLeaseLiabilityToBePaidYearSix" xlink:type="arc" order="1"/>
<link:label id="lab_ms_InterestExpenseCustomerPayablesAndOther_89689d87-2d7b-4c16-a4b0-1c2d4f8ffb7f_terseLabel_en-US" xlink:label="lab_ms_InterestExpenseCustomerPayablesAndOther" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Customer payables and Other </link:label>
<link:label id="lab_ms_InterestExpenseCustomerPayablesAndOther_label_en-US" xlink:label="lab_ms_InterestExpenseCustomerPayablesAndOther" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Interest Expense, Customer Payables and Other </link:label>
<link:label id="lab_ms_InterestExpenseCustomerPayablesAndOther_documentation_en-US" xlink:label="lab_ms_InterestExpenseCustomerPayablesAndOther" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> The interest expense recognized during the period on customer payables and fees received from prime brokerage customers for stock loan transactions incurred to cover customers' short positions. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_InterestExpenseCustomerPayablesAndOther" xlink:href="ms-20231231.xsd#ms_InterestExpenseCustomerPayablesAndOther"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_InterestExpenseCustomerPayablesAndOther" xlink:to="lab_ms_InterestExpenseCustomerPayablesAndOther" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_LiabilitiesFairValueDisclosureAbstract_0b3862eb-62ba-44b2-9fe0-9fa4f2512c92_verboseLabel_en-US" xlink:label="lab_us-gaap_LiabilitiesFairValueDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Liabilities at fair value </link:label>
<link:label id="lab_us-gaap_LiabilitiesFairValueDisclosureAbstract_label_en-US" xlink:label="lab_us-gaap_LiabilitiesFairValueDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Liabilities, Fair Value Disclosure [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LiabilitiesFairValueDisclosureAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LiabilitiesFairValueDisclosureAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LiabilitiesFairValueDisclosureAbstract" xlink:to="lab_us-gaap_LiabilitiesFairValueDisclosureAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_AllocatedShareBasedCompensationExpense_55c62743-a3a9-4029-bf3f-0aea8cb1c2ee_terseLabel_en-US" xlink:label="lab_us-gaap_AllocatedShareBasedCompensationExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Stock-based compensation expense </link:label>
<link:label id="lab_us-gaap_AllocatedShareBasedCompensationExpense_label_en-US" xlink:label="lab_us-gaap_AllocatedShareBasedCompensationExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Share-Based Payment Arrangement, Expense </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AllocatedShareBasedCompensationExpense" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AllocatedShareBasedCompensationExpense"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AllocatedShareBasedCompensationExpense" xlink:to="lab_us-gaap_AllocatedShareBasedCompensationExpense" xlink:type="arc" order="1"/>
<link:label id="lab_ms_FairValueLoansAndLoanCommitmentsTableTextBlock_a5941e83-7e14-4bcf-85a9-3db066bbf181_terseLabel_en-US" xlink:label="lab_ms_FairValueLoansAndLoanCommitmentsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Details of Loans and Lending Commitments at Fair Value </link:label>
<link:label id="lab_ms_FairValueLoansAndLoanCommitmentsTableTextBlock_label_en-US" xlink:label="lab_ms_FairValueLoansAndLoanCommitmentsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value, Loans and Loan Commitments [Table Text Block] </link:label>
<link:label id="lab_ms_FairValueLoansAndLoanCommitmentsTableTextBlock_documentation_en-US" xlink:label="lab_ms_FairValueLoansAndLoanCommitmentsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Tabular disclosure of loans and loan commitments held at fair value. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_FairValueLoansAndLoanCommitmentsTableTextBlock" xlink:href="ms-20231231.xsd#ms_FairValueLoansAndLoanCommitmentsTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_FairValueLoansAndLoanCommitmentsTableTextBlock" xlink:to="lab_ms_FairValueLoansAndLoanCommitmentsTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DefinedBenefitPlanPurchasesSalesAndSettlements_4a0739c4-60a5-48d6-af2f-8844873a8f87_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanPurchasesSalesAndSettlements" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Purchases, sales and settlements, net </link:label>
<link:label id="lab_us-gaap_DefinedBenefitPlanPurchasesSalesAndSettlements_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanPurchasesSalesAndSettlements" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Defined Benefit Plan, Plan Assets Level 3 Reconciliation, Increase (Decrease) for Purchase, Sale, and Settlement </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanPurchasesSalesAndSettlements" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DefinedBenefitPlanPurchasesSalesAndSettlements"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanPurchasesSalesAndSettlements" xlink:to="lab_us-gaap_DefinedBenefitPlanPurchasesSalesAndSettlements" xlink:type="arc" order="1"/>
<link:label id="lab_ms_LesseeOperatingLeaseLiabilityToBePaidAfterYearSix_be7c2b69-5cfb-430b-8dc9-9c2b8e8b8a04_terseLabel_en-US" xlink:label="lab_ms_LesseeOperatingLeaseLiabilityToBePaidAfterYearSix" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Thereafter </link:label>
<link:label id="lab_ms_LesseeOperatingLeaseLiabilityToBePaidAfterYearSix_label_en-US" xlink:label="lab_ms_LesseeOperatingLeaseLiabilityToBePaidAfterYearSix" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Lessee, Operating Lease, Liability, to be Paid, after Year Six </link:label>
<link:label id="lab_ms_LesseeOperatingLeaseLiabilityToBePaidAfterYearSix_documentation_en-US" xlink:label="lab_ms_LesseeOperatingLeaseLiabilityToBePaidAfterYearSix" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Lessee, Operating Lease, Liability, to be Paid, after Year Six </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_LesseeOperatingLeaseLiabilityToBePaidAfterYearSix" xlink:href="ms-20231231.xsd#ms_LesseeOperatingLeaseLiabilityToBePaidAfterYearSix"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_LesseeOperatingLeaseLiabilityToBePaidAfterYearSix" xlink:to="lab_ms_LesseeOperatingLeaseLiabilityToBePaidAfterYearSix" xlink:type="arc" order="1"/>
<link:label id="lab_ms_ScheduleOfEconomicLoanHedgesTableTextBlock_1ef7c34b-a962-4840-9f1f-ff021971332b_terseLabel_en-US" xlink:label="lab_ms_ScheduleOfEconomicLoanHedgesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Economic Loan Hedges </link:label>
<link:label id="lab_ms_ScheduleOfEconomicLoanHedgesTableTextBlock_label_en-US" xlink:label="lab_ms_ScheduleOfEconomicLoanHedgesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Economic Loan Hedges [Table Text Block] </link:label>
<link:label id="lab_ms_ScheduleOfEconomicLoanHedgesTableTextBlock_documentation_en-US" xlink:label="lab_ms_ScheduleOfEconomicLoanHedgesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Economic Loan Hedges </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_ScheduleOfEconomicLoanHedgesTableTextBlock" xlink:href="ms-20231231.xsd#ms_ScheduleOfEconomicLoanHedgesTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_ScheduleOfEconomicLoanHedgesTableTextBlock" xlink:to="lab_ms_ScheduleOfEconomicLoanHedgesTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_ms_InvestmentSecuritiesDebtMaturitiesAnnualizedAverageYield_487408ae-cb27-4479-90dc-3d96bcd739b4_terseLabel_en-US" xlink:label="lab_ms_InvestmentSecuritiesDebtMaturitiesAnnualizedAverageYield" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Investment securities: Annualized average yield, total (as a percent) </link:label>
<link:label id="lab_ms_InvestmentSecuritiesDebtMaturitiesAnnualizedAverageYield_label_en-US" xlink:label="lab_ms_InvestmentSecuritiesDebtMaturitiesAnnualizedAverageYield" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Investment Securities Debt Maturities Annualized Average Yield </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_InvestmentSecuritiesDebtMaturitiesAnnualizedAverageYield" xlink:href="ms-20231231.xsd#ms_InvestmentSecuritiesDebtMaturitiesAnnualizedAverageYield"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_InvestmentSecuritiesDebtMaturitiesAnnualizedAverageYield" xlink:to="lab_ms_InvestmentSecuritiesDebtMaturitiesAnnualizedAverageYield" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_LoanToValueAxis_61cc8a08-c2a3-4ed1-976e-bb717d173fc8_terseLabel_en-US" xlink:label="lab_us-gaap_LoanToValueAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt-to-Value [Axis] </link:label>
<link:label id="lab_us-gaap_LoanToValueAxis_label_en-US" xlink:label="lab_us-gaap_LoanToValueAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt-to-Value [Axis] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LoanToValueAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LoanToValueAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LoanToValueAxis" xlink:to="lab_us-gaap_LoanToValueAxis" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_StockIssuedDuringPeriodValueNewIssues_8dbf0527-e0bb-4db6-840b-eab008243eb7_terseLabel_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodValueNewIssues" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Issuance of preferred stock </link:label>
<link:label id="lab_us-gaap_StockIssuedDuringPeriodValueNewIssues_label_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodValueNewIssues" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Stock Issued During Period, Value, New Issues </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockIssuedDuringPeriodValueNewIssues" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_StockIssuedDuringPeriodValueNewIssues"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockIssuedDuringPeriodValueNewIssues" xlink:to="lab_us-gaap_StockIssuedDuringPeriodValueNewIssues" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_TimeDepositMaturitiesTableTextBlock_46ef71b5-55a8-42b3-94f3-4cf2559448d9_terseLabel_en-US" xlink:label="lab_us-gaap_TimeDepositMaturitiesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Time Deposit Maturities </link:label>
<link:label id="lab_us-gaap_TimeDepositMaturitiesTableTextBlock_label_en-US" xlink:label="lab_us-gaap_TimeDepositMaturitiesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Time Deposit Maturities [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_TimeDepositMaturitiesTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_TimeDepositMaturitiesTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TimeDepositMaturitiesTableTextBlock" xlink:to="lab_us-gaap_TimeDepositMaturitiesTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_dei_EntityDomain_5855c3c8-1ba7-4505-aabd-18f1a66b3e81_terseLabel_en-US" xlink:label="lab_dei_EntityDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Entity [Domain] </link:label>
<link:label id="lab_dei_EntityDomain_label_en-US" xlink:label="lab_dei_EntityDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Entity [Domain] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_dei_EntityDomain" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityDomain"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityDomain" xlink:to="lab_dei_EntityDomain" xlink:type="arc" order="1"/>
<link:label id="lab_ms_ShareBasedPaymentArrangementPerformanceSharesValuationAssumptionsTableTextBlock_6cfc8a17-d02b-44e8-8b5f-d36d07c7be12_terseLabel_en-US" xlink:label="lab_ms_ShareBasedPaymentArrangementPerformanceSharesValuationAssumptionsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Monte Carlo Simulation Assumptions </link:label>
<link:label id="lab_ms_ShareBasedPaymentArrangementPerformanceSharesValuationAssumptionsTableTextBlock_label_en-US" xlink:label="lab_ms_ShareBasedPaymentArrangementPerformanceSharesValuationAssumptionsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Share-based Payment Arrangement, Performance Shares, Valuation Assumptions [Table Text Block] </link:label>
<link:label id="lab_ms_ShareBasedPaymentArrangementPerformanceSharesValuationAssumptionsTableTextBlock_documentation_en-US" xlink:label="lab_ms_ShareBasedPaymentArrangementPerformanceSharesValuationAssumptionsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Tabular disclosure of the significant assumptions used during the year to estimate the fair value of performance shares, including, but not limited to: (a) expected term, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_ShareBasedPaymentArrangementPerformanceSharesValuationAssumptionsTableTextBlock" xlink:href="ms-20231231.xsd#ms_ShareBasedPaymentArrangementPerformanceSharesValuationAssumptionsTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_ShareBasedPaymentArrangementPerformanceSharesValuationAssumptionsTableTextBlock" xlink:to="lab_ms_ShareBasedPaymentArrangementPerformanceSharesValuationAssumptionsTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_ms_InterestsPurchasedInSecondaryMarketFairValue_680813f2-87c2-4387-a9ed-ad646535bbb7_terseLabel_en-US" xlink:label="lab_ms_InterestsPurchasedInSecondaryMarketFairValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Interests purchased in the secondary market </link:label>
<link:label id="lab_ms_InterestsPurchasedInSecondaryMarketFairValue_label_en-US" xlink:label="lab_ms_InterestsPurchasedInSecondaryMarketFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Interests Purchased in Secondary Market, Fair Value </link:label>
<link:label id="lab_ms_InterestsPurchasedInSecondaryMarketFairValue_documentation_en-US" xlink:label="lab_ms_InterestsPurchasedInSecondaryMarketFairValue" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair value of interests purchased in the secondary market </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_InterestsPurchasedInSecondaryMarketFairValue" xlink:href="ms-20231231.xsd#ms_InterestsPurchasedInSecondaryMarketFairValue"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_InterestsPurchasedInSecondaryMarketFairValue" xlink:to="lab_ms_InterestsPurchasedInSecondaryMarketFairValue" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_LongtermDebtTypeAxis_f08101f1-cda1-4b1f-93f4-d1827aff5c5c_terseLabel_en-US" xlink:label="lab_us-gaap_LongtermDebtTypeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Long-term Debt, Type [Axis] </link:label>
<link:label id="lab_us-gaap_LongtermDebtTypeAxis_label_en-US" xlink:label="lab_us-gaap_LongtermDebtTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Long-Term Debt, Type [Axis] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongtermDebtTypeAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LongtermDebtTypeAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongtermDebtTypeAxis" xlink:to="lab_us-gaap_LongtermDebtTypeAxis" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_PaymentDeferralMember_b9ceda0d-b7dd-44c6-91c9-2cd258cf493b_terseLabel_en-US" xlink:label="lab_us-gaap_PaymentDeferralMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other-than-insignificant Payment Delay </link:label>
<link:label id="lab_us-gaap_PaymentDeferralMember_label_en-US" xlink:label="lab_us-gaap_PaymentDeferralMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Payment Deferral [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentDeferralMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PaymentDeferralMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentDeferralMember" xlink:to="lab_us-gaap_PaymentDeferralMember" xlink:type="arc" order="1"/>
<link:label id="lab_dei_AmendmentFlag_75fe15ed-6b19-45a4-b7af-b077664f6952_terseLabel_en-US" xlink:label="lab_dei_AmendmentFlag" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Amendment Flag </link:label>
<link:label id="lab_dei_AmendmentFlag_label_en-US" xlink:label="lab_dei_AmendmentFlag" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Amendment Flag </link:label>
<link:loc xlink:type="locator" xlink:label="loc_dei_AmendmentFlag" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_AmendmentFlag"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_AmendmentFlag" xlink:to="lab_dei_AmendmentFlag" xlink:type="arc" order="1"/>
<link:label id="lab_ms_AOCIDebtValuationAdjustmentParentMember_dd1188d1-2a43-473a-aed7-b69f3fa8b449_terseLabel_en-US" xlink:label="lab_ms_AOCIDebtValuationAdjustmentParentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> DVA </link:label>
<link:label id="lab_ms_AOCIDebtValuationAdjustmentParentMember_3ae7272a-38fa-4de6-bb16-1c2d1497c99e_verboseLabel_en-US" xlink:label="lab_ms_AOCIDebtValuationAdjustmentParentMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Change in Net DVA Attributable to Parent </link:label>
<link:label id="lab_ms_AOCIDebtValuationAdjustmentParentMember_label_en-US" xlink:label="lab_ms_AOCIDebtValuationAdjustmentParentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> AOCI, Debt Valuation Adjustment, Parent [Member] </link:label>
<link:label id="lab_ms_AOCIDebtValuationAdjustmentParentMember_documentation_en-US" xlink:label="lab_ms_AOCIDebtValuationAdjustmentParentMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> AOCI, Debt Valuation Adjustment, Parent [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_AOCIDebtValuationAdjustmentParentMember" xlink:href="ms-20231231.xsd#ms_AOCIDebtValuationAdjustmentParentMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_AOCIDebtValuationAdjustmentParentMember" xlink:to="lab_ms_AOCIDebtValuationAdjustmentParentMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ProceedsFromSaleOfLoansReceivable_62c9cfa4-0b57-4662-a968-1e3ac1dda960_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromSaleOfLoansReceivable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Sales of corporate loans to CLO SPEs </link:label>
<link:label id="lab_us-gaap_ProceedsFromSaleOfLoansReceivable_label_en-US" xlink:label="lab_us-gaap_ProceedsFromSaleOfLoansReceivable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Proceeds from Sale of Loans Receivable </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromSaleOfLoansReceivable" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ProceedsFromSaleOfLoansReceivable"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromSaleOfLoansReceivable" xlink:to="lab_us-gaap_ProceedsFromSaleOfLoansReceivable" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DerivativeLiabilityFairValueGrossAsset_7c2296f9-e238-46bb-a59b-201bbfc2a803_negatedLabel_en-US" xlink:label="lab_us-gaap_DerivativeLiabilityFairValueGrossAsset" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Amounts offset against counterparty netting </link:label>
<link:label id="lab_us-gaap_DerivativeLiabilityFairValueGrossAsset_label_en-US" xlink:label="lab_us-gaap_DerivativeLiabilityFairValueGrossAsset" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative Liability, Subject to Master Netting Arrangement, Asset Offset </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeLiabilityFairValueGrossAsset" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DerivativeLiabilityFairValueGrossAsset"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeLiabilityFairValueGrossAsset" xlink:to="lab_us-gaap_DerivativeLiabilityFairValueGrossAsset" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_SecuritiesBorrowedLiability_b765cf1f-97fb-46b9-bb5e-e0206752a4e0_negatedLabel_en-US" xlink:label="lab_us-gaap_SecuritiesBorrowedLiability" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Amounts Offset </link:label>
<link:label id="lab_us-gaap_SecuritiesBorrowedLiability_label_en-US" xlink:label="lab_us-gaap_SecuritiesBorrowedLiability" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Security Borrowed, Subject to Master Netting Arrangement, Liability Offset </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_SecuritiesBorrowedLiability" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SecuritiesBorrowedLiability"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SecuritiesBorrowedLiability" xlink:to="lab_us-gaap_SecuritiesBorrowedLiability" xlink:type="arc" order="1"/>
<link:label id="lab_ms_DerivativeInstrumentsGainLossRecognizedinOtherComprehensiveIncomeLoss_4e043cdb-8e7a-4e71-b35d-ca368a1df773_terseLabel_en-US" xlink:label="lab_ms_DerivativeInstrumentsGainLossRecognizedinOtherComprehensiveIncomeLoss" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Recognized in OCI </link:label>
<link:label id="lab_ms_DerivativeInstrumentsGainLossRecognizedinOtherComprehensiveIncomeLoss_label_en-US" xlink:label="lab_ms_DerivativeInstrumentsGainLossRecognizedinOtherComprehensiveIncomeLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss) </link:label>
<link:label id="lab_ms_DerivativeInstrumentsGainLossRecognizedinOtherComprehensiveIncomeLoss_documentation_en-US" xlink:label="lab_ms_DerivativeInstrumentsGainLossRecognizedinOtherComprehensiveIncomeLoss" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss) </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_DerivativeInstrumentsGainLossRecognizedinOtherComprehensiveIncomeLoss" xlink:href="ms-20231231.xsd#ms_DerivativeInstrumentsGainLossRecognizedinOtherComprehensiveIncomeLoss"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_DerivativeInstrumentsGainLossRecognizedinOtherComprehensiveIncomeLoss" xlink:to="lab_ms_DerivativeInstrumentsGainLossRecognizedinOtherComprehensiveIncomeLoss" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_InterestPaidNet_ae5fccd6-f18d-4710-ab70-d5b731359f41_terseLabel_en-US" xlink:label="lab_us-gaap_InterestPaidNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Cash payments for interest </link:label>
<link:label id="lab_us-gaap_InterestPaidNet_label_en-US" xlink:label="lab_us-gaap_InterestPaidNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Interest Paid, Excluding Capitalized Interest, Operating Activities </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestPaidNet" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_InterestPaidNet"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestPaidNet" xlink:to="lab_us-gaap_InterestPaidNet" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue_3060ba19-59b0-4a06-90b4-7c9f6e015a28_terseLabel_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> AFS securities: Fair value, due within 1 year </link:label>
<link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue_label_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, Year One </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue" xlink:to="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_MarketableSecuritiesAbstract_ed68aee6-44a6-4d6f-9479-7eeb068ada1b_terseLabel_en-US" xlink:label="lab_us-gaap_MarketableSecuritiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> AFS securities: </link:label>
<link:label id="lab_us-gaap_MarketableSecuritiesAbstract_label_en-US" xlink:label="lab_us-gaap_MarketableSecuritiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Marketable Securities [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_MarketableSecuritiesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_MarketableSecuritiesAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MarketableSecuritiesAbstract" xlink:to="lab_us-gaap_MarketableSecuritiesAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_ms_SupplementalLeverageExposure_1e0e3ab4-bbe0-4fe6-8a0d-fed34fb8acaf_terseLabel_en-US" xlink:label="lab_ms_SupplementalLeverageExposure" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Supplementary leverage exposure </link:label>
<link:label id="lab_ms_SupplementalLeverageExposure_label_en-US" xlink:label="lab_ms_SupplementalLeverageExposure" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Supplemental Leverage Exposure </link:label>
<link:label id="lab_ms_SupplementalLeverageExposure_documentation_en-US" xlink:label="lab_ms_SupplementalLeverageExposure" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> The denominator of supplementary leverage ratio. It's a banking organization's total leverage exposure, which includes many off-balance-sheet exposures. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_SupplementalLeverageExposure" xlink:href="ms-20231231.xsd#ms_SupplementalLeverageExposure"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_SupplementalLeverageExposure" xlink:to="lab_ms_SupplementalLeverageExposure" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestModifiedPeriod_266e0d42-a893-4ddb-bb68-b6c5b8d4a3e2_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestModifiedPeriod" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Amortized Cost </link:label>
<link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestModifiedPeriod_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestModifiedPeriod" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financing Receivable, Excluding Accrued Interest, Modified in Period, Amount </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableExcludingAccruedInterestModifiedPeriod" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FinancingReceivableExcludingAccruedInterestModifiedPeriod"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableExcludingAccruedInterestModifiedPeriod" xlink:to="lab_us-gaap_FinancingReceivableExcludingAccruedInterestModifiedPeriod" xlink:type="arc" order="1"/>
<link:label id="lab_ms_RelatorsRogerHayesAndC.TalbotHeppenstallJr.FiledAQuiTamActionInNewJerseyStateCourtStyledStateOfNewJerseyEx.Rel.HayesV.BankOfAmericaCorp.EtAl.Member_948bceaa-e449-4ac4-89c7-d7849e2a161c_terseLabel_en-US" xlink:label="lab_ms_RelatorsRogerHayesAndC.TalbotHeppenstallJr.FiledAQuiTamActionInNewJerseyStateCourtStyledStateOfNewJerseyEx.Rel.HayesV.BankOfAmericaCorp.EtAl.Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Relators Roger Hayes and C. Talbot Heppenstall, Jr., filed a qui tam action in New Jersey state court styled State of New Jersey ex. rel. Hayes v. Bank of America Corp., et al. </link:label>
<link:label id="lab_ms_RelatorsRogerHayesAndC.TalbotHeppenstallJr.FiledAQuiTamActionInNewJerseyStateCourtStyledStateOfNewJerseyEx.Rel.HayesV.BankOfAmericaCorp.EtAl.Member_label_en-US" xlink:label="lab_ms_RelatorsRogerHayesAndC.TalbotHeppenstallJr.FiledAQuiTamActionInNewJerseyStateCourtStyledStateOfNewJerseyEx.Rel.HayesV.BankOfAmericaCorp.EtAl.Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Relators Roger Hayes and C. Talbot Heppenstall, Jr., filed a qui tam action in New Jersey state court styled State of New Jersey ex. rel. Hayes v. Bank of America Corp., et al. [Member] </link:label>
<link:label id="lab_ms_RelatorsRogerHayesAndC.TalbotHeppenstallJr.FiledAQuiTamActionInNewJerseyStateCourtStyledStateOfNewJerseyEx.Rel.HayesV.BankOfAmericaCorp.EtAl.Member_documentation_en-US" xlink:label="lab_ms_RelatorsRogerHayesAndC.TalbotHeppenstallJr.FiledAQuiTamActionInNewJerseyStateCourtStyledStateOfNewJerseyEx.Rel.HayesV.BankOfAmericaCorp.EtAl.Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Relators Roger Hayes and C. Talbot Heppenstall, Jr., filed a qui tam action in New Jersey state court styled State of New Jersey ex. rel. Hayes v. Bank of America Corp., et al. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_RelatorsRogerHayesAndC.TalbotHeppenstallJr.FiledAQuiTamActionInNewJerseyStateCourtStyledStateOfNewJerseyEx.Rel.HayesV.BankOfAmericaCorp.EtAl.Member" xlink:href="ms-20231231.xsd#ms_RelatorsRogerHayesAndC.TalbotHeppenstallJr.FiledAQuiTamActionInNewJerseyStateCourtStyledStateOfNewJerseyEx.Rel.HayesV.BankOfAmericaCorp.EtAl.Member"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_RelatorsRogerHayesAndC.TalbotHeppenstallJr.FiledAQuiTamActionInNewJerseyStateCourtStyledStateOfNewJerseyEx.Rel.HayesV.BankOfAmericaCorp.EtAl.Member" xlink:to="lab_ms_RelatorsRogerHayesAndC.TalbotHeppenstallJr.FiledAQuiTamActionInNewJerseyStateCourtStyledStateOfNewJerseyEx.Rel.HayesV.BankOfAmericaCorp.EtAl.Member" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySales_781fae41-6545-4bcf-b717-471c9c5aa039_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySales" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Sales </link:label>
<link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySales_label_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySales" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Sales </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySales" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySales"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySales" xlink:to="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySales" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DefinedBenefitPlanActualReturnOnPlanAssets_6dc36357-0045-457e-a1cc-d975440cf9b6_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanActualReturnOnPlanAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Actual return on plan assets </link:label>
<link:label id="lab_us-gaap_DefinedBenefitPlanActualReturnOnPlanAssets_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanActualReturnOnPlanAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Defined Benefit Plan, Plan Assets, Increase (Decrease) for Actual Return (Loss) </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanActualReturnOnPlanAssets" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DefinedBenefitPlanActualReturnOnPlanAssets"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanActualReturnOnPlanAssets" xlink:to="lab_us-gaap_DefinedBenefitPlanActualReturnOnPlanAssets" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearFour_db06739d-010c-4b53-a5af-d56c5defc2d5_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearFour" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> 2027 </link:label>
<link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearFour_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearFour" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Finite-Lived Intangible Assets, Amortization Expense, Rolling Year Four </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearFour" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearFour"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearFour" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearFour" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DerivativeAssetsAbstract_b4115f5a-60d2-48a9-b606-272bc55f82b2_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeAssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative Assets </link:label>
<link:label id="lab_us-gaap_DerivativeAssetsAbstract_label_en-US" xlink:label="lab_us-gaap_DerivativeAssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative Asset [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeAssetsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DerivativeAssetsAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeAssetsAbstract" xlink:to="lab_us-gaap_DerivativeAssetsAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DebtSecuritiesAvailableForSaleRealizedGainLoss_7a4788b6-7aba-4432-bdd2-de434dcf97d9_totalLabel_en-US" xlink:label="lab_us-gaap_DebtSecuritiesAvailableForSaleRealizedGainLoss" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Total </link:label>
<link:label id="lab_us-gaap_DebtSecuritiesAvailableForSaleRealizedGainLoss_label_en-US" xlink:label="lab_us-gaap_DebtSecuritiesAvailableForSaleRealizedGainLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt Securities, Available-for-Sale, Realized Gain (Loss) </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtSecuritiesAvailableForSaleRealizedGainLoss" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DebtSecuritiesAvailableForSaleRealizedGainLoss"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtSecuritiesAvailableForSaleRealizedGainLoss" xlink:to="lab_us-gaap_DebtSecuritiesAvailableForSaleRealizedGainLoss" xlink:type="arc" order="1"/>
<link:label id="lab_ms_RegulatoryCapitalRequirementsAmountAbstract_96a784bf-a89e-4dbe-8d28-85a7fdd77e2f_terseLabel_en-US" xlink:label="lab_ms_RegulatoryCapitalRequirementsAmountAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Amount </link:label>
<link:label id="lab_ms_RegulatoryCapitalRequirementsAmountAbstract_label_en-US" xlink:label="lab_ms_RegulatoryCapitalRequirementsAmountAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Regulatory Capital Requirements, Amount [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_RegulatoryCapitalRequirementsAmountAbstract" xlink:href="ms-20231231.xsd#ms_RegulatoryCapitalRequirementsAmountAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_RegulatoryCapitalRequirementsAmountAbstract" xlink:to="lab_ms_RegulatoryCapitalRequirementsAmountAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_ms_FinancingReceivableAllowanceForCreditLossWriteoff_5a04869f-968a-440c-8d55-d42e214d43dd_negatedTotalLabel_en-US" xlink:label="lab_ms_FinancingReceivableAllowanceForCreditLossWriteoff" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Total </link:label>
<link:label id="lab_ms_FinancingReceivableAllowanceForCreditLossWriteoff_label_en-US" xlink:label="lab_ms_FinancingReceivableAllowanceForCreditLossWriteoff" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financing Receivable, Allowance for Credit Loss, Writeoff </link:label>
<link:label id="lab_ms_FinancingReceivableAllowanceForCreditLossWriteoff_documentation_en-US" xlink:label="lab_ms_FinancingReceivableAllowanceForCreditLossWriteoff" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financing Receivable, Allowance for Credit Loss, Writeoff </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_FinancingReceivableAllowanceForCreditLossWriteoff" xlink:href="ms-20231231.xsd#ms_FinancingReceivableAllowanceForCreditLossWriteoff"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_FinancingReceivableAllowanceForCreditLossWriteoff" xlink:to="lab_ms_FinancingReceivableAllowanceForCreditLossWriteoff" xlink:type="arc" order="1"/>
<link:label id="lab_ms_DividendIncomeSubsidiaries_9bffaec2-9aeb-4234-b0b9-3f4d481bf2ac_totalLabel_en-US" xlink:label="lab_ms_DividendIncomeSubsidiaries" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Total dividends from subsidiaries </link:label>
<link:label id="lab_ms_DividendIncomeSubsidiaries_label_en-US" xlink:label="lab_ms_DividendIncomeSubsidiaries" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Dividend Income, Subsidiaries </link:label>
<link:label id="lab_ms_DividendIncomeSubsidiaries_documentation_en-US" xlink:label="lab_ms_DividendIncomeSubsidiaries" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Amount of dividends from subsidiaries. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_DividendIncomeSubsidiaries" xlink:href="ms-20231231.xsd#ms_DividendIncomeSubsidiaries"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_DividendIncomeSubsidiaries" xlink:to="lab_ms_DividendIncomeSubsidiaries" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_OtherCommitmentFiscalYearMaturityAbstract_c6c04df8-d2f9-4e9e-bc06-ffcbbb3f0d54_terseLabel_en-US" xlink:label="lab_us-gaap_OtherCommitmentFiscalYearMaturityAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Commitment, Fiscal Year Maturity </link:label>
<link:label id="lab_us-gaap_OtherCommitmentFiscalYearMaturityAbstract_label_en-US" xlink:label="lab_us-gaap_OtherCommitmentFiscalYearMaturityAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other Commitment, Fiscal Year Maturity [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherCommitmentFiscalYearMaturityAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OtherCommitmentFiscalYearMaturityAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherCommitmentFiscalYearMaturityAbstract" xlink:to="lab_us-gaap_OtherCommitmentFiscalYearMaturityAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_SeniorDebtObligationsMember_80898101-58e2-47f6-b54a-604a3b51da9b_terseLabel_en-US" xlink:label="lab_us-gaap_SeniorDebtObligationsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Loans and lending commitments </link:label>
<link:label id="lab_us-gaap_SeniorDebtObligationsMember_label_en-US" xlink:label="lab_us-gaap_SeniorDebtObligationsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Senior Debt Obligations [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_SeniorDebtObligationsMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SeniorDebtObligationsMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SeniorDebtObligationsMember" xlink:to="lab_us-gaap_SeniorDebtObligationsMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_EmployeeBenefitPlansParticipantsDomain_b9d6360b-36c3-4509-badd-7c4952bd6bd9_terseLabel_en-US" xlink:label="lab_ms_EmployeeBenefitPlansParticipantsDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Employee Benefit Plans Participants [Domain] </link:label>
<link:label id="lab_ms_EmployeeBenefitPlansParticipantsDomain_label_en-US" xlink:label="lab_ms_EmployeeBenefitPlansParticipantsDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Employee Benefit Plans Participants [Domain] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_EmployeeBenefitPlansParticipantsDomain" xlink:href="ms-20231231.xsd#ms_EmployeeBenefitPlansParticipantsDomain"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_EmployeeBenefitPlansParticipantsDomain" xlink:to="lab_ms_EmployeeBenefitPlansParticipantsDomain" xlink:type="arc" order="1"/>
<link:label id="lab_ms_DebtAmountPuttableOrExtendibleAtOptionOfHolders_79c09e84-5e92-4bab-9383-cd14843d70f5_terseLabel_en-US" xlink:label="lab_ms_DebtAmountPuttableOrExtendibleAtOptionOfHolders" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Put options embedded in debt agreements </link:label>
<link:label id="lab_ms_DebtAmountPuttableOrExtendibleAtOptionOfHolders_label_en-US" xlink:label="lab_ms_DebtAmountPuttableOrExtendibleAtOptionOfHolders" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt Amount Puttable or Extendible at Option of Holders </link:label>
<link:label id="lab_ms_DebtAmountPuttableOrExtendibleAtOptionOfHolders_documentation_en-US" xlink:label="lab_ms_DebtAmountPuttableOrExtendibleAtOptionOfHolders" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt containing provisions that effectively allow the holders to put or extend the notes. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_DebtAmountPuttableOrExtendibleAtOptionOfHolders" xlink:href="ms-20231231.xsd#ms_DebtAmountPuttableOrExtendibleAtOptionOfHolders"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_DebtAmountPuttableOrExtendibleAtOptionOfHolders" xlink:to="lab_ms_DebtAmountPuttableOrExtendibleAtOptionOfHolders" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_SeriesAPreferredStockMember_7ee404d0-a3ab-4314-8391-1975466b2899_verboseLabel_en-US" xlink:label="lab_us-gaap_SeriesAPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Non-Cumulative Preferred Stock, Series A, $0.01 par value </link:label>
<link:label id="lab_us-gaap_SeriesAPreferredStockMember_86032f6a-ec78-407a-b149-963884472e2c_terseLabel_en-US" xlink:label="lab_us-gaap_SeriesAPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Series A </link:label>
<link:label id="lab_us-gaap_SeriesAPreferredStockMember_label_en-US" xlink:label="lab_us-gaap_SeriesAPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Series A Preferred Stock [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_SeriesAPreferredStockMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SeriesAPreferredStockMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SeriesAPreferredStockMember" xlink:to="lab_us-gaap_SeriesAPreferredStockMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_MaturityOvernightMember_9fcc5012-a61f-4cb4-8a28-ee10bc1675fc_terseLabel_en-US" xlink:label="lab_us-gaap_MaturityOvernightMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Overnight and Open </link:label>
<link:label id="lab_us-gaap_MaturityOvernightMember_label_en-US" xlink:label="lab_us-gaap_MaturityOvernightMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Maturity Overnight [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_MaturityOvernightMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_MaturityOvernightMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MaturityOvernightMember" xlink:to="lab_us-gaap_MaturityOvernightMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_22d76b17-4a92-499d-95a7-74d3dff68fbb_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Vested (in dollars per share) </link:label>
<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments_7593d685-ddfd-4269-8587-e5ef01452cd4_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Income before income taxes </link:label>
<link:label id="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments_label_en-US" xlink:label="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" xlink:to="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_63e23626-bcbc-4a46-a319-8ebe99018257_terseLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Cash flows from financing activities </link:label>
<link:label id="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Net Cash Provided by (Used in) Financing Activities [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_ms_MeasurementInputEquityCorrelationMember_c10cce0a-11a4-412d-b45d-bee79099183f_terseLabel_en-US" xlink:label="lab_ms_MeasurementInputEquityCorrelationMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Equity Correlation </link:label>
<link:label id="lab_ms_MeasurementInputEquityCorrelationMember_label_en-US" xlink:label="lab_ms_MeasurementInputEquityCorrelationMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Measurement Input, Equity Correlation [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_MeasurementInputEquityCorrelationMember" xlink:href="ms-20231231.xsd#ms_MeasurementInputEquityCorrelationMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_MeasurementInputEquityCorrelationMember" xlink:to="lab_ms_MeasurementInputEquityCorrelationMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_HedgedAssetFairValueHedge_2810f02c-260b-4da4-ae40-555aac92b280_terseLabel_en-US" xlink:label="lab_us-gaap_HedgedAssetFairValueHedge" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Amortized cost basis currently/ carrying amount currently or previously hedged </link:label>
<link:label id="lab_us-gaap_HedgedAssetFairValueHedge_label_en-US" xlink:label="lab_us-gaap_HedgedAssetFairValueHedge" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Hedged Asset, Fair Value Hedge </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_HedgedAssetFairValueHedge" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_HedgedAssetFairValueHedge"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_HedgedAssetFairValueHedge" xlink:to="lab_us-gaap_HedgedAssetFairValueHedge" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment_e2f2afa7-135c-4e9a-a369-e15ace575d76_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fixed assets </link:label>
<link:label id="lab_us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment_label_en-US" xlink:label="lab_us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Deferred Tax Liabilities, Property, Plant and Equipment </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment" xlink:to="lab_us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_TierOneRiskBasedCapital_6b926b23-2ed7-4497-b9d3-2955b8845513_terseLabel_en-US" xlink:label="lab_us-gaap_TierOneRiskBasedCapital" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Tier 1 capital </link:label>
<link:label id="lab_us-gaap_TierOneRiskBasedCapital_label_en-US" xlink:label="lab_us-gaap_TierOneRiskBasedCapital" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Banking Regulation, Tier 1 Risk-Based Capital, Actual </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_TierOneRiskBasedCapital" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_TierOneRiskBasedCapital"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TierOneRiskBasedCapital" xlink:to="lab_us-gaap_TierOneRiskBasedCapital" xlink:type="arc" order="1"/>
<link:label id="lab_ms_SeriesKPreferredStockMember_8b3a846b-ffb4-4852-a0b7-0cddcea99141_verboseLabel_en-US" xlink:label="lab_ms_SeriesKPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Non-Cumulative Preferred Stock, Series K, $0.01 par value </link:label>
<link:label id="lab_ms_SeriesKPreferredStockMember_22fd1193-3d3b-4064-9de8-65ebd36f8a52_terseLabel_en-US" xlink:label="lab_ms_SeriesKPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Series K </link:label>
<link:label id="lab_ms_SeriesKPreferredStockMember_label_en-US" xlink:label="lab_ms_SeriesKPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Series K Preferred Stock [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_SeriesKPreferredStockMember" xlink:href="ms-20231231.xsd#ms_SeriesKPreferredStockMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_SeriesKPreferredStockMember" xlink:to="lab_ms_SeriesKPreferredStockMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_SecuritiesLoanedAndSecuritiesSoldUnderAgreementToRepurchaseGrossIncludingNotSubjectToMasterNettingArrangement_40b5f732-ae05-4f22-88aa-b600cacedd7a_totalLabel_en-US" xlink:label="lab_us-gaap_SecuritiesLoanedAndSecuritiesSoldUnderAgreementToRepurchaseGrossIncludingNotSubjectToMasterNettingArrangement" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Total included in the offsetting disclosure </link:label>
<link:label id="lab_us-gaap_SecuritiesLoanedAndSecuritiesSoldUnderAgreementToRepurchaseGrossIncludingNotSubjectToMasterNettingArrangement_label_en-US" xlink:label="lab_us-gaap_SecuritiesLoanedAndSecuritiesSoldUnderAgreementToRepurchaseGrossIncludingNotSubjectToMasterNettingArrangement" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Securities Loaned and Securities Sold under Agreement to Repurchase, Gross Including Not Subject to Master Netting Arrangement </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_SecuritiesLoanedAndSecuritiesSoldUnderAgreementToRepurchaseGrossIncludingNotSubjectToMasterNettingArrangement" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SecuritiesLoanedAndSecuritiesSoldUnderAgreementToRepurchaseGrossIncludingNotSubjectToMasterNettingArrangement"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SecuritiesLoanedAndSecuritiesSoldUnderAgreementToRepurchaseGrossIncludingNotSubjectToMasterNettingArrangement" xlink:to="lab_us-gaap_SecuritiesLoanedAndSecuritiesSoldUnderAgreementToRepurchaseGrossIncludingNotSubjectToMasterNettingArrangement" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_RevenuesAbstract_84cd5979-ee71-4f8d-a3ad-3a5376415360_terseLabel_en-US" xlink:label="lab_us-gaap_RevenuesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Revenues </link:label>
<link:label id="lab_us-gaap_RevenuesAbstract_label_en-US" xlink:label="lab_us-gaap_RevenuesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Revenues [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_RevenuesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_RevenuesAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RevenuesAbstract" xlink:to="lab_us-gaap_RevenuesAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_InterestExpenseSecuritiesSoldUnderAgreementsToRepurchase_587128dc-b242-4128-8a45-6e3707843ac5_terseLabel_en-US" xlink:label="lab_us-gaap_InterestExpenseSecuritiesSoldUnderAgreementsToRepurchase" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Securities sold under agreements to repurchase </link:label>
<link:label id="lab_us-gaap_InterestExpenseSecuritiesSoldUnderAgreementsToRepurchase_label_en-US" xlink:label="lab_us-gaap_InterestExpenseSecuritiesSoldUnderAgreementsToRepurchase" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Interest Expense, Securities Sold under Agreements to Repurchase </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestExpenseSecuritiesSoldUnderAgreementsToRepurchase" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_InterestExpenseSecuritiesSoldUnderAgreementsToRepurchase"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestExpenseSecuritiesSoldUnderAgreementsToRepurchase" xlink:to="lab_us-gaap_InterestExpenseSecuritiesSoldUnderAgreementsToRepurchase" xlink:type="arc" order="1"/>
<link:label id="lab_ms_CommitmentsTableTextBlock_35d96c03-3b06-4781-a597-bf48c8a384eb_terseLabel_en-US" xlink:label="lab_ms_CommitmentsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Commitments </link:label>
<link:label id="lab_ms_CommitmentsTableTextBlock_label_en-US" xlink:label="lab_ms_CommitmentsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Commitments [Table Text Block] </link:label>
<link:label id="lab_ms_CommitmentsTableTextBlock_documentation_en-US" xlink:label="lab_ms_CommitmentsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Commitments [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_CommitmentsTableTextBlock" xlink:href="ms-20231231.xsd#ms_CommitmentsTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_CommitmentsTableTextBlock" xlink:to="lab_ms_CommitmentsTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_ms_ScheduleOfIncrementalCollateralAndTerminationPaymentsUponPotentialFutureRatingsDowngradeTableTextBlock_23972bda-9e46-4195-8d98-b8d06a52da4c_terseLabel_en-US" xlink:label="lab_ms_ScheduleOfIncrementalCollateralAndTerminationPaymentsUponPotentialFutureRatingsDowngradeTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Incremental Collateral and Termination Payments upon Potential Future Ratings Downgrade </link:label>
<link:label id="lab_ms_ScheduleOfIncrementalCollateralAndTerminationPaymentsUponPotentialFutureRatingsDowngradeTableTextBlock_label_en-US" xlink:label="lab_ms_ScheduleOfIncrementalCollateralAndTerminationPaymentsUponPotentialFutureRatingsDowngradeTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Incremental Collateral and Termination Payments upon Potential Future Ratings Downgrade [Table Text Block] </link:label>
<link:label id="lab_ms_ScheduleOfIncrementalCollateralAndTerminationPaymentsUponPotentialFutureRatingsDowngradeTableTextBlock_documentation_en-US" xlink:label="lab_ms_ScheduleOfIncrementalCollateralAndTerminationPaymentsUponPotentialFutureRatingsDowngradeTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Incremental Collateral and Termination Payments upon Potential Future Ratings Downgrade </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_ScheduleOfIncrementalCollateralAndTerminationPaymentsUponPotentialFutureRatingsDowngradeTableTextBlock" xlink:href="ms-20231231.xsd#ms_ScheduleOfIncrementalCollateralAndTerminationPaymentsUponPotentialFutureRatingsDowngradeTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_ScheduleOfIncrementalCollateralAndTerminationPaymentsUponPotentialFutureRatingsDowngradeTableTextBlock" xlink:to="lab_ms_ScheduleOfIncrementalCollateralAndTerminationPaymentsUponPotentialFutureRatingsDowngradeTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_TimeDepositMaturitiesYearThree_e29c612a-62f9-4b4f-ae2f-7822fbe1e1cb_terseLabel_en-US" xlink:label="lab_us-gaap_TimeDepositMaturitiesYearThree" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> 2026 </link:label>
<link:label id="lab_us-gaap_TimeDepositMaturitiesYearThree_label_en-US" xlink:label="lab_us-gaap_TimeDepositMaturitiesYearThree" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Time Deposit Maturities, Year Three </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_TimeDepositMaturitiesYearThree" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_TimeDepositMaturitiesYearThree"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TimeDepositMaturitiesYearThree" xlink:to="lab_us-gaap_TimeDepositMaturitiesYearThree" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_StatementLineItems_93275bf6-3cd2-4934-bc23-e2d24e53a906_terseLabel_en-US" xlink:label="lab_us-gaap_StatementLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Statement [Line Items] </link:label>
<link:label id="lab_us-gaap_StatementLineItems_label_en-US" xlink:label="lab_us-gaap_StatementLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Statement [Line Items] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_StatementLineItems"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementLineItems" xlink:to="lab_us-gaap_StatementLineItems" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAmortizedCostAbstract_ce2bb3c5-1916-4a53-9084-64730970f75b_terseLabel_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAmortizedCostAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Amortized Cost </link:label>
<link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAmortizedCostAbstract_label_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAmortizedCostAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt Securities, Available-for-Sale, Amortized Cost, Fiscal Year Maturity [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAmortizedCostAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAmortizedCostAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAmortizedCostAbstract" xlink:to="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAmortizedCostAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_srt_MedianMember_fe2ac0a1-a930-4e03-ba6b-8b06b55267c0_terseLabel_en-US" xlink:label="lab_srt_MedianMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Median </link:label>
<link:label id="lab_srt_MedianMember_label_en-US" xlink:label="lab_srt_MedianMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Median [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_srt_MedianMember" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_MedianMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_MedianMember" xlink:to="lab_srt_MedianMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_NoncontrollingInterestMember_2687c8b8-74c8-46b4-9a00-34fd4e559714_terseLabel_en-US" xlink:label="lab_us-gaap_NoncontrollingInterestMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Noncontrolling Interests </link:label>
<link:label id="lab_us-gaap_NoncontrollingInterestMember_label_en-US" xlink:label="lab_us-gaap_NoncontrollingInterestMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Noncontrolling Interest [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_NoncontrollingInterestMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_NoncontrollingInterestMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NoncontrollingInterestMember" xlink:to="lab_us-gaap_NoncontrollingInterestMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestNonaccrualNoAllowance_72fb59a8-f955-4eed-a263-e4d3730bf8f8_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestNonaccrualNoAllowance" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Nonaccrual loans without an ACL </link:label>
<link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestNonaccrualNoAllowance_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestNonaccrualNoAllowance" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financing Receivable, Excluding Accrued Interest, Nonaccrual, No Allowance </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableExcludingAccruedInterestNonaccrualNoAllowance" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FinancingReceivableExcludingAccruedInterestNonaccrualNoAllowance"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableExcludingAccruedInterestNonaccrualNoAllowance" xlink:to="lab_us-gaap_FinancingReceivableExcludingAccruedInterestNonaccrualNoAllowance" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear_132d4e45-477e-4cc3-8381-366cb8cdc587_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Three Years Ago </link:label>
<link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" xlink:to="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" xlink:type="arc" order="1"/>
<link:label id="lab_ms_ScheduleOfBilateralEquityDerivativesTableTextBlock_ba3a9d13-274a-40da-9277-64d25daaf434_terseLabel_en-US" xlink:label="lab_ms_ScheduleOfBilateralEquityDerivativesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Assets Sold with Retained Exposure </link:label>
<link:label id="lab_ms_ScheduleOfBilateralEquityDerivativesTableTextBlock_label_en-US" xlink:label="lab_ms_ScheduleOfBilateralEquityDerivativesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Bilateral Equity Derivatives [Table Text Block] </link:label>
<link:label id="lab_ms_ScheduleOfBilateralEquityDerivativesTableTextBlock_documentation_en-US" xlink:label="lab_ms_ScheduleOfBilateralEquityDerivativesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Tabular disclosure of bilateral equity derivatives, which the entity retains to the exposure to the underlying securities. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_ScheduleOfBilateralEquityDerivativesTableTextBlock" xlink:href="ms-20231231.xsd#ms_ScheduleOfBilateralEquityDerivativesTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_ScheduleOfBilateralEquityDerivativesTableTextBlock" xlink:to="lab_ms_ScheduleOfBilateralEquityDerivativesTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_ms_FairValueDisclosureLineItems_23940fb6-1bca-43b8-9f97-5a3b725d26e9_terseLabel_en-US" xlink:label="lab_ms_FairValueDisclosureLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value disclosure </link:label>
<link:label id="lab_ms_FairValueDisclosureLineItems_label_en-US" xlink:label="lab_ms_FairValueDisclosureLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value Disclosure [Line Items] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_FairValueDisclosureLineItems" xlink:href="ms-20231231.xsd#ms_FairValueDisclosureLineItems"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_FairValueDisclosureLineItems" xlink:to="lab_ms_FairValueDisclosureLineItems" xlink:type="arc" order="1"/>
<link:label id="lab_ms_AccumulatedOtherComprehensiveIncomeLossInvestmentInNonUSDollarFunctionalCurrencySubsidiaries_33c78a93-3a54-4904-870f-38dcc1867bbf_terseLabel_en-US" xlink:label="lab_ms_AccumulatedOtherComprehensiveIncomeLossInvestmentInNonUSDollarFunctionalCurrencySubsidiaries" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Associated with net investments in subsidiaries with a non-U.S. dollar functional currency </link:label>
<link:label id="lab_ms_AccumulatedOtherComprehensiveIncomeLossInvestmentInNonUSDollarFunctionalCurrencySubsidiaries_label_en-US" xlink:label="lab_ms_AccumulatedOtherComprehensiveIncomeLossInvestmentInNonUSDollarFunctionalCurrencySubsidiaries" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Accumulated Other Comprehensive Income (Loss), Investment in Non-U.S. Dollar Functional Currency Subsidiaries </link:label>
<link:label id="lab_ms_AccumulatedOtherComprehensiveIncomeLossInvestmentInNonUSDollarFunctionalCurrencySubsidiaries_documentation_en-US" xlink:label="lab_ms_AccumulatedOtherComprehensiveIncomeLossInvestmentInNonUSDollarFunctionalCurrencySubsidiaries" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Accumulated Other Comprehensive Income (Loss), Investment in Non-US Dollar Functional Currency Subsidiaries </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_AccumulatedOtherComprehensiveIncomeLossInvestmentInNonUSDollarFunctionalCurrencySubsidiaries" xlink:href="ms-20231231.xsd#ms_AccumulatedOtherComprehensiveIncomeLossInvestmentInNonUSDollarFunctionalCurrencySubsidiaries"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_AccumulatedOtherComprehensiveIncomeLossInvestmentInNonUSDollarFunctionalCurrencySubsidiaries" xlink:to="lab_ms_AccumulatedOtherComprehensiveIncomeLossInvestmentInNonUSDollarFunctionalCurrencySubsidiaries" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FinancingReceivableModificationToTotalFinancingReceivablesExcludingAccruedInterestPercent_78f1d07c-5cc6-440c-b4df-8884236cd720_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableModificationToTotalFinancingReceivablesExcludingAccruedInterestPercent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Percent of total loans </link:label>
<link:label id="lab_us-gaap_FinancingReceivableModificationToTotalFinancingReceivablesExcludingAccruedInterestPercent_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableModificationToTotalFinancingReceivablesExcludingAccruedInterestPercent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financing Receivable, Excluding Accrued Interest, Modified in Period, to Total Financing Receivables, Percentage </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableModificationToTotalFinancingReceivablesExcludingAccruedInterestPercent" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FinancingReceivableModificationToTotalFinancingReceivablesExcludingAccruedInterestPercent"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableModificationToTotalFinancingReceivablesExcludingAccruedInterestPercent" xlink:to="lab_us-gaap_FinancingReceivableModificationToTotalFinancingReceivablesExcludingAccruedInterestPercent" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityIssues_c5d0b4bf-aba9-428c-8b15-bc3dfcf40633_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityIssues" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Issuances </link:label>
<link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityIssues_label_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityIssues" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Issuances </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityIssues" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityIssues"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityIssues" xlink:to="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityIssues" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSales_22e34d55-e97c-4f9b-bf28-29b026ed2867_negatedLabel_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSales" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Sales </link:label>
<link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSales_label_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSales" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSales" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSales"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSales" xlink:to="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSales" xlink:type="arc" order="1"/>
<link:label id="lab_srt_EquityMethodInvesteeNameDomain_b329de40-96d5-4dc7-bffb-45ff22ef3a9f_terseLabel_en-US" xlink:label="lab_srt_EquityMethodInvesteeNameDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Investment, Name [Domain] </link:label>
<link:label id="lab_srt_EquityMethodInvesteeNameDomain_label_en-US" xlink:label="lab_srt_EquityMethodInvesteeNameDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Investment, Name [Domain] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_srt_EquityMethodInvesteeNameDomain" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_EquityMethodInvesteeNameDomain"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_EquityMethodInvesteeNameDomain" xlink:to="lab_srt_EquityMethodInvesteeNameDomain" xlink:type="arc" order="1"/>
<link:label id="lab_ms_TradingAssetsToTotalAssetsRatioMember_2b97c99c-9f52-4dc1-aeb3-01eef0ad0840_terseLabel_en-US" xlink:label="lab_ms_TradingAssetsToTotalAssetsRatioMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Trading assets </link:label>
<link:label id="lab_ms_TradingAssetsToTotalAssetsRatioMember_label_en-US" xlink:label="lab_ms_TradingAssetsToTotalAssetsRatioMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Trading Assets to Total Assets Ratio [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_TradingAssetsToTotalAssetsRatioMember" xlink:href="ms-20231231.xsd#ms_TradingAssetsToTotalAssetsRatioMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_TradingAssetsToTotalAssetsRatioMember" xlink:to="lab_ms_TradingAssetsToTotalAssetsRatioMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_DueFromEmployeesRepaymentTerms_ad5c69ee-38fb-47d8-be68-5213a9e10a53_terseLabel_en-US" xlink:label="lab_ms_DueFromEmployeesRepaymentTerms" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Remaining repayment term, weighted average in years </link:label>
<link:label id="lab_ms_DueFromEmployeesRepaymentTerms_label_en-US" xlink:label="lab_ms_DueFromEmployeesRepaymentTerms" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Due from Employees, Repayment Terms </link:label>
<link:label id="lab_ms_DueFromEmployeesRepaymentTerms_documentation_en-US" xlink:label="lab_ms_DueFromEmployeesRepaymentTerms" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> The repayment terms for dues from employees. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_DueFromEmployeesRepaymentTerms" xlink:href="ms-20231231.xsd#ms_DueFromEmployeesRepaymentTerms"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_DueFromEmployeesRepaymentTerms" xlink:to="lab_ms_DueFromEmployeesRepaymentTerms" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_TransferOfFinancialAssetsAccountedForAsSalesAmountDerecognized_6de5671a-a338-4e4d-9eef-f6543f51133b_terseLabel_en-US" xlink:label="lab_us-gaap_TransferOfFinancialAssetsAccountedForAsSalesAmountDerecognized" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Gross cash proceeds from sale of assets </link:label>
<link:label id="lab_us-gaap_TransferOfFinancialAssetsAccountedForAsSalesAmountDerecognized_label_en-US" xlink:label="lab_us-gaap_TransferOfFinancialAssetsAccountedForAsSalesAmountDerecognized" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Transfer of Financial Assets Accounted for as Sales, Amount Derecognized </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_TransferOfFinancialAssetsAccountedForAsSalesAmountDerecognized" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_TransferOfFinancialAssetsAccountedForAsSalesAmountDerecognized"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TransferOfFinancialAssetsAccountedForAsSalesAmountDerecognized" xlink:to="lab_us-gaap_TransferOfFinancialAssetsAccountedForAsSalesAmountDerecognized" xlink:type="arc" order="1"/>
<link:label id="lab_ms_GlobalMediumTermNotesSeriesAFloatingRateNotesDue2029OfMorganStanleyFinanceLLCMember_4d74e2fa-1573-47e8-9d8a-bb07f14317df_terseLabel_en-US" xlink:label="lab_ms_GlobalMediumTermNotesSeriesAFloatingRateNotesDue2029OfMorganStanleyFinanceLLCMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Global Medium-Term Notes, Series A, Floating Rate Notes Due 2029 </link:label>
<link:label id="lab_ms_GlobalMediumTermNotesSeriesAFloatingRateNotesDue2029OfMorganStanleyFinanceLLCMember_label_en-US" xlink:label="lab_ms_GlobalMediumTermNotesSeriesAFloatingRateNotesDue2029OfMorganStanleyFinanceLLCMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Global Medium-Term Notes, Series A, Floating Rate Notes Due 2029 of Morgan Stanley Finance LLC [Member] </link:label>
<link:label id="lab_ms_GlobalMediumTermNotesSeriesAFloatingRateNotesDue2029OfMorganStanleyFinanceLLCMember_documentation_en-US" xlink:label="lab_ms_GlobalMediumTermNotesSeriesAFloatingRateNotesDue2029OfMorganStanleyFinanceLLCMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Global Medium-Term Notes, Series A, Floating Rate Notes Due 2029 of Morgan Stanley Finance LLC </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_GlobalMediumTermNotesSeriesAFloatingRateNotesDue2029OfMorganStanleyFinanceLLCMember" xlink:href="ms-20231231.xsd#ms_GlobalMediumTermNotesSeriesAFloatingRateNotesDue2029OfMorganStanleyFinanceLLCMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_GlobalMediumTermNotesSeriesAFloatingRateNotesDue2029OfMorganStanleyFinanceLLCMember" xlink:to="lab_ms_GlobalMediumTermNotesSeriesAFloatingRateNotesDue2029OfMorganStanleyFinanceLLCMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_AdvancesToSubsidiariesNonbank_532c2ded-52a4-418b-91a6-0f26d4355c6a_terseLabel_en-US" xlink:label="lab_ms_AdvancesToSubsidiariesNonbank" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Non-bank </link:label>
<link:label id="lab_ms_AdvancesToSubsidiariesNonbank_label_en-US" xlink:label="lab_ms_AdvancesToSubsidiariesNonbank" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Advances to Subsidiaries Non-bank </link:label>
<link:label id="lab_ms_AdvancesToSubsidiariesNonbank_documentation_en-US" xlink:label="lab_ms_AdvancesToSubsidiariesNonbank" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Advances to non-bank subsidiaries. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_AdvancesToSubsidiariesNonbank" xlink:href="ms-20231231.xsd#ms_AdvancesToSubsidiariesNonbank"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_AdvancesToSubsidiariesNonbank" xlink:to="lab_ms_AdvancesToSubsidiariesNonbank" xlink:type="arc" order="1"/>
<link:label id="lab_srt_NetCapital_4a996d58-352f-4573-8266-7598ac87b404_terseLabel_en-US" xlink:label="lab_srt_NetCapital" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Net capital </link:label>
<link:label id="lab_srt_NetCapital_label_en-US" xlink:label="lab_srt_NetCapital" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Broker-Dealer, Net Capital </link:label>
<link:loc xlink:type="locator" xlink:label="loc_srt_NetCapital" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_NetCapital"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_NetCapital" xlink:to="lab_srt_NetCapital" xlink:type="arc" order="1"/>
<link:label id="lab_ms_ScheduleOfOtherSecuredFinancingTableTextBlock_464d7145-be55-4322-8f70-17c0bf8a96a9_terseLabel_en-US" xlink:label="lab_ms_ScheduleOfOtherSecuredFinancingTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Other Secured Financings </link:label>
<link:label id="lab_ms_ScheduleOfOtherSecuredFinancingTableTextBlock_label_en-US" xlink:label="lab_ms_ScheduleOfOtherSecuredFinancingTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Other Secured Financing [Table Text Block] </link:label>
<link:label id="lab_ms_ScheduleOfOtherSecuredFinancingTableTextBlock_documentation_en-US" xlink:label="lab_ms_ScheduleOfOtherSecuredFinancingTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Tabular disclosures of other secured financings including their types and maturities. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_ScheduleOfOtherSecuredFinancingTableTextBlock" xlink:href="ms-20231231.xsd#ms_ScheduleOfOtherSecuredFinancingTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_ScheduleOfOtherSecuredFinancingTableTextBlock" xlink:to="lab_ms_ScheduleOfOtherSecuredFinancingTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_ms_NetChangeInPayablesToSubsidiaries_fe797317-3dd7-4da6-a22b-a1b44bc7af6a_terseLabel_en-US" xlink:label="lab_ms_NetChangeInPayablesToSubsidiaries" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Net change in advances from subsidiaries </link:label>
<link:label id="lab_ms_NetChangeInPayablesToSubsidiaries_label_en-US" xlink:label="lab_ms_NetChangeInPayablesToSubsidiaries" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Net Change in Payables to Subsidiaries </link:label>
<link:label id="lab_ms_NetChangeInPayablesToSubsidiaries_documentation_en-US" xlink:label="lab_ms_NetChangeInPayablesToSubsidiaries" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Amount of cash inflow (outflow) from net change in payables to subsidiaries. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_NetChangeInPayablesToSubsidiaries" xlink:href="ms-20231231.xsd#ms_NetChangeInPayablesToSubsidiaries"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_NetChangeInPayablesToSubsidiaries" xlink:to="lab_ms_NetChangeInPayablesToSubsidiaries" xlink:type="arc" order="1"/>
<link:label id="lab_ms_ScheduleOfAccountingHedgesStatementsOfFinancialPerformanceLocationTableTextBlock_5e6d85d3-f69b-40ea-b181-f3282ac8fa1e_terseLabel_en-US" xlink:label="lab_ms_ScheduleOfAccountingHedgesStatementsOfFinancialPerformanceLocationTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Gains (Losses) on Accounting Hedges </link:label>
<link:label id="lab_ms_ScheduleOfAccountingHedgesStatementsOfFinancialPerformanceLocationTableTextBlock_label_en-US" xlink:label="lab_ms_ScheduleOfAccountingHedgesStatementsOfFinancialPerformanceLocationTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Accounting Hedges, Statements of Financial Performance, Location [Table Text Block] </link:label>
<link:label id="lab_ms_ScheduleOfAccountingHedgesStatementsOfFinancialPerformanceLocationTableTextBlock_documentation_en-US" xlink:label="lab_ms_ScheduleOfAccountingHedgesStatementsOfFinancialPerformanceLocationTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Tabular disclosure for accounting hedges of the location and amount of gains and losses reported in the statement of financial performance. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_ScheduleOfAccountingHedgesStatementsOfFinancialPerformanceLocationTableTextBlock" xlink:href="ms-20231231.xsd#ms_ScheduleOfAccountingHedgesStatementsOfFinancialPerformanceLocationTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_ScheduleOfAccountingHedgesStatementsOfFinancialPerformanceLocationTableTextBlock" xlink:to="lab_ms_ScheduleOfAccountingHedgesStatementsOfFinancialPerformanceLocationTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_ms_DerivativeEffectivenesstoBenchmarkInterestRate_c0022422-eab7-4bef-8d4f-9d552214d6d8_terseLabel_en-US" xlink:label="lab_ms_DerivativeEffectivenesstoBenchmarkInterestRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Effectiveness to benchmark interest rate (as a percent) </link:label>
<link:label id="lab_ms_DerivativeEffectivenesstoBenchmarkInterestRate_label_en-US" xlink:label="lab_ms_DerivativeEffectivenesstoBenchmarkInterestRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative, Effectiveness to Benchmark Interest Rate </link:label>
<link:label id="lab_ms_DerivativeEffectivenesstoBenchmarkInterestRate_documentation_en-US" xlink:label="lab_ms_DerivativeEffectivenesstoBenchmarkInterestRate" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative, Effectiveness to Benchmark Interest Rate </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_DerivativeEffectivenesstoBenchmarkInterestRate" xlink:href="ms-20231231.xsd#ms_DerivativeEffectivenesstoBenchmarkInterestRate"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_DerivativeEffectivenesstoBenchmarkInterestRate" xlink:to="lab_ms_DerivativeEffectivenesstoBenchmarkInterestRate" xlink:type="arc" order="1"/>
<link:label id="lab_ms_BankingRegulationStressCapitalBufferAbstract_1f68450e-6a39-4450-8734-f6e2ac8b3fa6_terseLabel_en-US" xlink:label="lab_ms_BankingRegulationStressCapitalBufferAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> SCB </link:label>
<link:label id="lab_ms_BankingRegulationStressCapitalBufferAbstract_label_en-US" xlink:label="lab_ms_BankingRegulationStressCapitalBufferAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Banking Regulation, Stress Capital Buffer [Abstract] </link:label>
<link:label id="lab_ms_BankingRegulationStressCapitalBufferAbstract_documentation_en-US" xlink:label="lab_ms_BankingRegulationStressCapitalBufferAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Banking Regulation, Stress Capital Buffer </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_BankingRegulationStressCapitalBufferAbstract" xlink:href="ms-20231231.xsd#ms_BankingRegulationStressCapitalBufferAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_BankingRegulationStressCapitalBufferAbstract" xlink:to="lab_ms_BankingRegulationStressCapitalBufferAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ScheduleOfSubordinatedBorrowingTextBlock_b18430ee-e7a0-4393-9b6e-4fa42deffe99_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfSubordinatedBorrowingTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Subordinated Debt </link:label>
<link:label id="lab_us-gaap_ScheduleOfSubordinatedBorrowingTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfSubordinatedBorrowingTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Subordinated Borrowing [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfSubordinatedBorrowingTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfSubordinatedBorrowingTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfSubordinatedBorrowingTextBlock" xlink:to="lab_us-gaap_ScheduleOfSubordinatedBorrowingTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_AlternativeInvestmentMeasurementInput_f8cf465a-02e8-4e6c-9d4c-090e24763d00_terseLabel_en-US" xlink:label="lab_us-gaap_AlternativeInvestmentMeasurementInput" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Investments, measurement input value </link:label>
<link:label id="lab_us-gaap_AlternativeInvestmentMeasurementInput_label_en-US" xlink:label="lab_us-gaap_AlternativeInvestmentMeasurementInput" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Alternative Investment, Measurement Input </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AlternativeInvestmentMeasurementInput" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AlternativeInvestmentMeasurementInput"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AlternativeInvestmentMeasurementInput" xlink:to="lab_us-gaap_AlternativeInvestmentMeasurementInput" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ScheduleOfAssumptionsUsedTableTextBlock_fe841d25-2c7c-4cd5-9d90-9f7bbc8da4a7_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfAssumptionsUsedTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Weighted Average Assumptions Used to Determine Benefit Obligation </link:label>
<link:label id="lab_us-gaap_ScheduleOfAssumptionsUsedTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfAssumptionsUsedTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Defined Benefit Plan, Assumptions [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfAssumptionsUsedTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfAssumptionsUsedTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfAssumptionsUsedTableTextBlock" xlink:to="lab_us-gaap_ScheduleOfAssumptionsUsedTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_IntersegmentEliminationMember_928ff117-8a59-48f1-ad48-c4924c8fd3c1_verboseLabel_en-US" xlink:label="lab_us-gaap_IntersegmentEliminationMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> I/E </link:label>
<link:label id="lab_us-gaap_IntersegmentEliminationMember_label_en-US" xlink:label="lab_us-gaap_IntersegmentEliminationMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Intersegment Eliminations [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_IntersegmentEliminationMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_IntersegmentEliminationMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IntersegmentEliminationMember" xlink:to="lab_us-gaap_IntersegmentEliminationMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_CorporateEquitiesMember_aecf1028-83ef-4351-b8ef-7a7981c88d39_terseLabel_en-US" xlink:label="lab_ms_CorporateEquitiesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Corporate equities </link:label>
<link:label id="lab_ms_CorporateEquitiesMember_label_en-US" xlink:label="lab_ms_CorporateEquitiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Corporate Equities [Member] </link:label>
<link:label id="lab_ms_CorporateEquitiesMember_documentation_en-US" xlink:label="lab_ms_CorporateEquitiesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Corporate Equities [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_CorporateEquitiesMember" xlink:href="ms-20231231.xsd#ms_CorporateEquitiesMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_CorporateEquitiesMember" xlink:to="lab_ms_CorporateEquitiesMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_HeldToMaturitySecuritiesDebtMaturitiesAfterTenYearsAnnualizedAverageYield_1f95437b-0985-4a07-9088-828017ff672c_terseLabel_en-US" xlink:label="lab_ms_HeldToMaturitySecuritiesDebtMaturitiesAfterTenYearsAnnualizedAverageYield" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> HTM securities: Annualized average yield, after 10 year (as a percent) </link:label>
<link:label id="lab_ms_HeldToMaturitySecuritiesDebtMaturitiesAfterTenYearsAnnualizedAverageYield_label_en-US" xlink:label="lab_ms_HeldToMaturitySecuritiesDebtMaturitiesAfterTenYearsAnnualizedAverageYield" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Held-to-maturity Securities Debt Maturities After Ten Years Annualized Average Yield </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_HeldToMaturitySecuritiesDebtMaturitiesAfterTenYearsAnnualizedAverageYield" xlink:href="ms-20231231.xsd#ms_HeldToMaturitySecuritiesDebtMaturitiesAfterTenYearsAnnualizedAverageYield"/>
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<link:label id="lab_us-gaap_TreasuryStockValue_d60d833e-6c91-4948-9511-649f966be495_negatedLabel_en-US" xlink:label="lab_us-gaap_TreasuryStockValue" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Common stock held in treasury at cost, $0.01 par value (412,065,542 and 363,406,570 shares) </link:label>
<link:label id="lab_us-gaap_TreasuryStockValue_2ea54067-9f2a-450e-9b4f-e2d50522b026_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_TreasuryStockValue" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Common stock held in treasury at cost </link:label>
<link:label id="lab_us-gaap_TreasuryStockValue_label_en-US" xlink:label="lab_us-gaap_TreasuryStockValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Treasury Stock, Value </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_TreasuryStockValue" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_TreasuryStockValue"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TreasuryStockValue" xlink:to="lab_us-gaap_TreasuryStockValue" xlink:type="arc" order="1"/>
<link:label id="lab_ms_AvailableForSaleSecuritiesDebtMaturitiesNextTwelveMonthsAnnualizedAverageYeildIncludingTheInterestRateSwapAccrualOfRelatedHedges_b78efdcc-a722-4f01-8c2f-cc448d408f6b_terseLabel_en-US" xlink:label="lab_ms_AvailableForSaleSecuritiesDebtMaturitiesNextTwelveMonthsAnnualizedAverageYeildIncludingTheInterestRateSwapAccrualOfRelatedHedges" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> AFS securities: Annualized average yield including the interest rate swap accrual of related hedges, due within 1 year (as a percent) </link:label>
<link:label id="lab_ms_AvailableForSaleSecuritiesDebtMaturitiesNextTwelveMonthsAnnualizedAverageYeildIncludingTheInterestRateSwapAccrualOfRelatedHedges_label_en-US" xlink:label="lab_ms_AvailableForSaleSecuritiesDebtMaturitiesNextTwelveMonthsAnnualizedAverageYeildIncludingTheInterestRateSwapAccrualOfRelatedHedges" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Available-for-sale securities, Debt Maturities, Next Twelve Months, Annualized Average Yeild Including the Interest Rate Swap Accrual of Related Hedges </link:label>
<link:label id="lab_ms_AvailableForSaleSecuritiesDebtMaturitiesNextTwelveMonthsAnnualizedAverageYeildIncludingTheInterestRateSwapAccrualOfRelatedHedges_documentation_en-US" xlink:label="lab_ms_AvailableForSaleSecuritiesDebtMaturitiesNextTwelveMonthsAnnualizedAverageYeildIncludingTheInterestRateSwapAccrualOfRelatedHedges" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Available-for-sale securities, Debt Maturities, Next Twelve Months, Annualized Average Yeild Including the Interest Rate Swap Accrual of Related Hedges </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_AvailableForSaleSecuritiesDebtMaturitiesNextTwelveMonthsAnnualizedAverageYeildIncludingTheInterestRateSwapAccrualOfRelatedHedges" xlink:href="ms-20231231.xsd#ms_AvailableForSaleSecuritiesDebtMaturitiesNextTwelveMonthsAnnualizedAverageYeildIncludingTheInterestRateSwapAccrualOfRelatedHedges"/>
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<link:label id="lab_ms_MarginLendingReceivables_f05b33bd-4e5f-469a-9ad2-f40ea260103f_terseLabel_en-US" xlink:label="lab_ms_MarginLendingReceivables" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Margin and other lending </link:label>
<link:label id="lab_ms_MarginLendingReceivables_label_en-US" xlink:label="lab_ms_MarginLendingReceivables" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Margin Lending Receivables </link:label>
<link:label id="lab_ms_MarginLendingReceivables_documentation_en-US" xlink:label="lab_ms_MarginLendingReceivables" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Receivables generated from margin lending activities that are collateralized by customer-owned securities held by the entity. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_MarginLendingReceivables" xlink:href="ms-20231231.xsd#ms_MarginLendingReceivables"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_MarginLendingReceivables" xlink:to="lab_ms_MarginLendingReceivables" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_CommunicationsAndInformationTechnology_17da8bd1-4b2d-4b6d-bd4e-8dadb5cbafad_terseLabel_en-US" xlink:label="lab_us-gaap_CommunicationsAndInformationTechnology" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Information processing and communications </link:label>
<link:label id="lab_us-gaap_CommunicationsAndInformationTechnology_label_en-US" xlink:label="lab_us-gaap_CommunicationsAndInformationTechnology" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Communications and Information Technology </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommunicationsAndInformationTechnology" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CommunicationsAndInformationTechnology"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommunicationsAndInformationTechnology" xlink:to="lab_us-gaap_CommunicationsAndInformationTechnology" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ScheduleOfNetBenefitCostsTableTextBlock_7a62a2e2-c6d6-4eaf-b7f5-2f6777246a7f_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfNetBenefitCostsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Components of Net Periodic Benefit Expense (Income) </link:label>
<link:label id="lab_us-gaap_ScheduleOfNetBenefitCostsTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfNetBenefitCostsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Net Benefit Costs [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfNetBenefitCostsTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfNetBenefitCostsTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfNetBenefitCostsTableTextBlock" xlink:to="lab_us-gaap_ScheduleOfNetBenefitCostsTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_ms_OtherPayablesMember_74b701e6-507a-4620-9f4a-793fcc1a9e3a_netLabel_en-US" xlink:label="lab_ms_OtherPayablesMember" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other payables </link:label>
<link:label id="lab_ms_OtherPayablesMember_label_en-US" xlink:label="lab_ms_OtherPayablesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other Payables [Member] </link:label>
<link:label id="lab_ms_OtherPayablesMember_documentation_en-US" xlink:label="lab_ms_OtherPayablesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other Payables [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_OtherPayablesMember" xlink:href="ms-20231231.xsd#ms_OtherPayablesMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_OtherPayablesMember" xlink:to="lab_ms_OtherPayablesMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_OtherComprehensiveIncomeLossBeforeReclassificationsBeforeTax_92d01585-829e-4636-bfd7-0b4a6424d047_terseLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossBeforeReclassificationsBeforeTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> OCI activity </link:label>
<link:label id="lab_us-gaap_OtherComprehensiveIncomeLossBeforeReclassificationsBeforeTax_label_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossBeforeReclassificationsBeforeTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other Comprehensive Income (Loss), before Reclassifications, before Tax </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossBeforeReclassificationsBeforeTax" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OtherComprehensiveIncomeLossBeforeReclassificationsBeforeTax"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherComprehensiveIncomeLossBeforeReclassificationsBeforeTax" xlink:to="lab_us-gaap_OtherComprehensiveIncomeLossBeforeReclassificationsBeforeTax" xlink:type="arc" order="1"/>
<link:label id="lab_ms_SecuritiesBasedLendingandOtherLoansMember_edc1d9be-d911-43b2-a6a1-52e6771ce433_terseLabel_en-US" xlink:label="lab_ms_SecuritiesBasedLendingandOtherLoansMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Securities-based lending and Other loans </link:label>
<link:label id="lab_ms_SecuritiesBasedLendingandOtherLoansMember_4e2a931a-bd7f-49e0-b3e3-9be0018fa8b9_netLabel_en-US" xlink:label="lab_ms_SecuritiesBasedLendingandOtherLoansMember" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> SBL and Other </link:label>
<link:label id="lab_ms_SecuritiesBasedLendingandOtherLoansMember_label_en-US" xlink:label="lab_ms_SecuritiesBasedLendingandOtherLoansMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Securities-Based Lending and Other Loans [Member] </link:label>
<link:label id="lab_ms_SecuritiesBasedLendingandOtherLoansMember_documentation_en-US" xlink:label="lab_ms_SecuritiesBasedLendingandOtherLoansMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Securities-Based Lending and Other Loans [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_SecuritiesBasedLendingandOtherLoansMember" xlink:href="ms-20231231.xsd#ms_SecuritiesBasedLendingandOtherLoansMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_SecuritiesBasedLendingandOtherLoansMember" xlink:to="lab_ms_SecuritiesBasedLendingandOtherLoansMember" xlink:type="arc" order="1"/>
<link:label id="lab_srt_LitigationCaseAxis_723c1e88-86ba-4f74-8af7-48272740b65b_terseLabel_en-US" xlink:label="lab_srt_LitigationCaseAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Litigation Case [Axis] </link:label>
<link:label id="lab_srt_LitigationCaseAxis_label_en-US" xlink:label="lab_srt_LitigationCaseAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Litigation Case [Axis] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_srt_LitigationCaseAxis" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_LitigationCaseAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_LitigationCaseAxis" xlink:to="lab_srt_LitigationCaseAxis" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_EmploymentContractsMember_796752c9-f631-4fb2-acce-df2608d65c45_terseLabel_en-US" xlink:label="lab_us-gaap_EmploymentContractsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Management contracts </link:label>
<link:label id="lab_us-gaap_EmploymentContractsMember_label_en-US" xlink:label="lab_us-gaap_EmploymentContractsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Employment Contracts [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_EmploymentContractsMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_EmploymentContractsMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EmploymentContractsMember" xlink:to="lab_us-gaap_EmploymentContractsMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_GuaranteeObligationsNatureDomain_1fd26d3a-c5d5-4c6d-8459-9f32facd9857_terseLabel_en-US" xlink:label="lab_us-gaap_GuaranteeObligationsNatureDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Guarantor Obligations, Nature [Domain] </link:label>
<link:label id="lab_us-gaap_GuaranteeObligationsNatureDomain_label_en-US" xlink:label="lab_us-gaap_GuaranteeObligationsNatureDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Guarantor Obligations, Nature [Domain] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_GuaranteeObligationsNatureDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_GuaranteeObligationsNatureDomain"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GuaranteeObligationsNatureDomain" xlink:to="lab_us-gaap_GuaranteeObligationsNatureDomain" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerShareLineItems_b86667e0-a3fa-4edf-bd4e-85b46dd9255e_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerShareLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Measured Based on Net Asset Value </link:label>
<link:label id="lab_us-gaap_FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerShareLineItems_label_en-US" xlink:label="lab_us-gaap_FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerShareLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerShareLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerShareLineItems"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerShareLineItems" xlink:to="lab_us-gaap_FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerShareLineItems" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_MarketApproachValuationTechniqueMember_b977a796-6dd4-4e24-8031-502d83630233_terseLabel_en-US" xlink:label="lab_us-gaap_MarketApproachValuationTechniqueMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Market Approach </link:label>
<link:label id="lab_us-gaap_MarketApproachValuationTechniqueMember_label_en-US" xlink:label="lab_us-gaap_MarketApproachValuationTechniqueMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Valuation, Market Approach [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_MarketApproachValuationTechniqueMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_MarketApproachValuationTechniqueMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MarketApproachValuationTechniqueMember" xlink:to="lab_us-gaap_MarketApproachValuationTechniqueMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_EffectiveIncomeTaxRateContinuingOperationsTaxRateReconciliationAbstract_c2961b8c-df7f-4cdf-acee-b3c6001ebabd_terseLabel_en-US" xlink:label="lab_us-gaap_EffectiveIncomeTaxRateContinuingOperationsTaxRateReconciliationAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Effective Income Tax Rate Reconciliation, Percent [Abstract] </link:label>
<link:label id="lab_us-gaap_EffectiveIncomeTaxRateContinuingOperationsTaxRateReconciliationAbstract_label_en-US" xlink:label="lab_us-gaap_EffectiveIncomeTaxRateContinuingOperationsTaxRateReconciliationAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Effective Income Tax Rate Reconciliation, Percent [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateContinuingOperationsTaxRateReconciliationAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_EffectiveIncomeTaxRateContinuingOperationsTaxRateReconciliationAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EffectiveIncomeTaxRateContinuingOperationsTaxRateReconciliationAbstract" xlink:to="lab_us-gaap_EffectiveIncomeTaxRateContinuingOperationsTaxRateReconciliationAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FinancingReceivableOriginatedMoreThanFiveYearsBeforeCurrentFiscalYearWriteoff_3e9e608a-4483-48df-aae8-ccb770ac6bd2_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableOriginatedMoreThanFiveYearsBeforeCurrentFiscalYearWriteoff" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Prior </link:label>
<link:label id="lab_us-gaap_FinancingReceivableOriginatedMoreThanFiveYearsBeforeCurrentFiscalYearWriteoff_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableOriginatedMoreThanFiveYearsBeforeCurrentFiscalYearWriteoff" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff </link:label>
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<link:label id="lab_ms_FairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTable_f2ae212e-3bae-4ba6-a255-c6e3fd712ed6_terseLabel_en-US" xlink:label="lab_ms_FairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table] </link:label>
<link:label id="lab_ms_FairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTable_label_en-US" xlink:label="lab_ms_FairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table] </link:label>
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<link:label id="lab_us-gaap_ScheduleOfEquityMethodInvestmentsTable_c4fd1fae-eb1d-4b32-8800-c6b50ed484fe_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfEquityMethodInvestmentsTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Equity Method Investments [Table] </link:label>
<link:label id="lab_us-gaap_ScheduleOfEquityMethodInvestmentsTable_label_en-US" xlink:label="lab_us-gaap_ScheduleOfEquityMethodInvestmentsTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Equity Method Investments [Table] </link:label>
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<link:label id="lab_us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock_6dd3d4fd-e467-4e20-b97f-e508cf3a22ca_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Rollforward of Unrecognized Tax Benefits </link:label>
<link:label id="lab_us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] </link:label>
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<link:label id="lab_us-gaap_OtherIntangibleAssetsMember_5d5b334e-cd9f-4d97-b4ab-2f16a5100c60_verboseLabel_en-US" xlink:label="lab_us-gaap_OtherIntangibleAssetsMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other </link:label>
<link:label id="lab_us-gaap_OtherIntangibleAssetsMember_label_en-US" xlink:label="lab_us-gaap_OtherIntangibleAssetsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other Intangible Assets [Member] </link:label>
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<link:label id="lab_us-gaap_ReclassificationAdjustmentOutOfAccumulatedOtherComprehensiveIncomeLineItems_5728d809-30c4-40f1-b306-f9f4e6f888f5_terseLabel_en-US" xlink:label="lab_us-gaap_ReclassificationAdjustmentOutOfAccumulatedOtherComprehensiveIncomeLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] </link:label>
<link:label id="lab_us-gaap_ReclassificationAdjustmentOutOfAccumulatedOtherComprehensiveIncomeLineItems_label_en-US" xlink:label="lab_us-gaap_ReclassificationAdjustmentOutOfAccumulatedOtherComprehensiveIncomeLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] </link:label>
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<link:label id="lab_ms_VariableInterestEntityByProductGroupAxis_88389080-6bdc-4b51-bfc2-23b9bd686031_terseLabel_en-US" xlink:label="lab_ms_VariableInterestEntityByProductGroupAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Variable Interest Entity, by Product Group [Axis] </link:label>
<link:label id="lab_ms_VariableInterestEntityByProductGroupAxis_label_en-US" xlink:label="lab_ms_VariableInterestEntityByProductGroupAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Variable Interest Entity, by Product Group [Axis] </link:label>
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<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward_f6ea4fe8-c0d0-4e32-bbaf-84729c9110b3_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Number of Shares </link:label>
<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] </link:label>
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<link:label id="lab_us-gaap_FairValueInputsLevel1Member_122d2eb6-f5f5-40b9-8354-3e96ce8d5f68_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueInputsLevel1Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Level 1 </link:label>
<link:label id="lab_us-gaap_FairValueInputsLevel1Member_label_en-US" xlink:label="lab_us-gaap_FairValueInputsLevel1Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value, Inputs, Level 1 [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueInputsLevel1Member" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueInputsLevel1Member"/>
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<link:label id="lab_us-gaap_DeferredTaxAssetsNet_664dff60-64d0-4d7e-b63c-92d0c92fe34e_totalLabel_en-US" xlink:label="lab_us-gaap_DeferredTaxAssetsNet" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Deferred tax assets after valuation allowance </link:label>
<link:label id="lab_us-gaap_DeferredTaxAssetsNet_label_en-US" xlink:label="lab_us-gaap_DeferredTaxAssetsNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Deferred Tax Assets, Net of Valuation Allowance </link:label>
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<link:label id="lab_ms_ScheduleOfUnsettledFairValueOfFutureContractsTableTextBlock_0c4f7b1c-e902-40ed-82e9-f501ab0e1c47_terseLabel_en-US" xlink:label="lab_ms_ScheduleOfUnsettledFairValueOfFutureContractsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Unsettled Fair Value of Futures Contracts </link:label>
<link:label id="lab_ms_ScheduleOfUnsettledFairValueOfFutureContractsTableTextBlock_label_en-US" xlink:label="lab_ms_ScheduleOfUnsettledFairValueOfFutureContractsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Unsettled Fair Value of Future Contracts [Table Text Block] </link:label>
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<link:label id="lab_us-gaap_CreditLossFinancialInstrumentPolicyTextBlock_8272bd52-0161-4228-b090-a9d873b5c953_terseLabel_en-US" xlink:label="lab_us-gaap_CreditLossFinancialInstrumentPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Allowance for Credit Losses </link:label>
<link:label id="lab_us-gaap_CreditLossFinancialInstrumentPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_CreditLossFinancialInstrumentPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Credit Loss, Financial Instrument [Policy Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CreditLossFinancialInstrumentPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CreditLossFinancialInstrumentPolicyTextBlock"/>
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<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_9d1c716a-3180-4aad-a143-dd0762da90c0_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Common shares available for future awards (in shares) </link:label>
<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant </link:label>
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<link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_49307b5e-19c1-4970-afa8-bf5566f4d2dc_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Year 2 </link:label>
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<link:label id="lab_us-gaap_RiskBasedRatiosAbstract_c505dae9-7703-4302-8cc9-76ad08be50a7_terseLabel_en-US" xlink:label="lab_us-gaap_RiskBasedRatiosAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Ratio </link:label>
<link:label id="lab_us-gaap_RiskBasedRatiosAbstract_label_en-US" xlink:label="lab_us-gaap_RiskBasedRatiosAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Banking Regulation, Risk-Based Information [Abstract] </link:label>
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<link:label id="lab_us-gaap_DerivativeNotionalAmount_d5f2604f-261a-4c2a-ab67-c5828fbd276f_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeNotionalAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Maximum potential payout/notional </link:label>
<link:label id="lab_us-gaap_DerivativeNotionalAmount_05d6a8de-da81-4491-9279-cc5d52c4c532_verboseLabel_en-US" xlink:label="lab_us-gaap_DerivativeNotionalAmount" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Notional </link:label>
<link:label id="lab_us-gaap_DerivativeNotionalAmount_label_en-US" xlink:label="lab_us-gaap_DerivativeNotionalAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative, Notional Amount </link:label>
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<link:label id="lab_us-gaap_ScheduleOfComplianceWithRegulatoryCapitalRequirementsUnderBankingRegulationsTextBlock_2b032389-a0d8-415c-9b65-bfcc9e1c8f46_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfComplianceWithRegulatoryCapitalRequirementsUnderBankingRegulationsTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Regulatory Capital and Capital Ratios </link:label>
<link:label id="lab_us-gaap_ScheduleOfComplianceWithRegulatoryCapitalRequirementsUnderBankingRegulationsTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfComplianceWithRegulatoryCapitalRequirementsUnderBankingRegulationsTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] </link:label>
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<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfComplianceWithRegulatoryCapitalRequirementsUnderBankingRegulationsTextBlock" xlink:to="lab_us-gaap_ScheduleOfComplianceWithRegulatoryCapitalRequirementsUnderBankingRegulationsTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FairValueByMeasurementFrequencyAxis_e851f7b3-f022-4c3e-935a-b98953347de7_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueByMeasurementFrequencyAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Measurement Frequency [Axis] </link:label>
<link:label id="lab_us-gaap_FairValueByMeasurementFrequencyAxis_label_en-US" xlink:label="lab_us-gaap_FairValueByMeasurementFrequencyAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Measurement Frequency [Axis] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueByMeasurementFrequencyAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueByMeasurementFrequencyAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueByMeasurementFrequencyAxis" xlink:to="lab_us-gaap_FairValueByMeasurementFrequencyAxis" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_RestrictedStockUnitsRSUMember_16201b5e-3ed8-4ff0-8a86-caf198433f6d_terseLabel_en-US" xlink:label="lab_us-gaap_RestrictedStockUnitsRSUMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> RSUs </link:label>
<link:label id="lab_us-gaap_RestrictedStockUnitsRSUMember_label_en-US" xlink:label="lab_us-gaap_RestrictedStockUnitsRSUMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Restricted Stock Units (RSUs) [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_RestrictedStockUnitsRSUMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_RestrictedStockUnitsRSUMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RestrictedStockUnitsRSUMember" xlink:to="lab_us-gaap_RestrictedStockUnitsRSUMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_ShareBasedCompensationExpenseRetirementEligibleAwards_33c8dd5f-7720-41c3-bba0-333330e4ffa6_terseLabel_en-US" xlink:label="lab_ms_ShareBasedCompensationExpenseRetirementEligibleAwards" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Retirement eligible awards </link:label>
<link:label id="lab_ms_ShareBasedCompensationExpenseRetirementEligibleAwards_label_en-US" xlink:label="lab_ms_ShareBasedCompensationExpenseRetirementEligibleAwards" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Share-based Compensation Expense, Retirement Eligible Awards </link:label>
<link:label id="lab_ms_ShareBasedCompensationExpenseRetirementEligibleAwards_documentation_en-US" xlink:label="lab_ms_ShareBasedCompensationExpenseRetirementEligibleAwards" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Represents the expense recognized during the period arising from equity-based awards to employees who satisfied retirement-eligible requirements under award terms that do not contain a service period. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_ShareBasedCompensationExpenseRetirementEligibleAwards" xlink:href="ms-20231231.xsd#ms_ShareBasedCompensationExpenseRetirementEligibleAwards"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_ShareBasedCompensationExpenseRetirementEligibleAwards" xlink:to="lab_ms_ShareBasedCompensationExpenseRetirementEligibleAwards" xlink:type="arc" order="1"/>
<link:label id="lab_ms_ClearingMemberGuaranteeMember_7c1fe220-9ffd-4622-be19-61ff5b11cf6c_terseLabel_en-US" xlink:label="lab_ms_ClearingMemberGuaranteeMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Client clearing guarantees </link:label>
<link:label id="lab_ms_ClearingMemberGuaranteeMember_label_en-US" xlink:label="lab_ms_ClearingMemberGuaranteeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Clearing Member Guarantee [Member] </link:label>
<link:label id="lab_ms_ClearingMemberGuaranteeMember_documentation_en-US" xlink:label="lab_ms_ClearingMemberGuaranteeMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Clearing Member Guarantee [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_ClearingMemberGuaranteeMember" xlink:href="ms-20231231.xsd#ms_ClearingMemberGuaranteeMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_ClearingMemberGuaranteeMember" xlink:to="lab_ms_ClearingMemberGuaranteeMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_MarketableSecuritiesTextBlock_3d09303f-4d44-487c-aa99-88b2274c5010_terseLabel_en-US" xlink:label="lab_us-gaap_MarketableSecuritiesTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of AFS and HTM Securities </link:label>
<link:label id="lab_us-gaap_MarketableSecuritiesTextBlock_label_en-US" xlink:label="lab_us-gaap_MarketableSecuritiesTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Marketable Securities [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_MarketableSecuritiesTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_MarketableSecuritiesTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MarketableSecuritiesTextBlock" xlink:to="lab_us-gaap_MarketableSecuritiesTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_PortionAtFairValueFairValueDisclosureMember_439cca01-9449-4edf-884f-471d0b0f7bdd_terseLabel_en-US" xlink:label="lab_us-gaap_PortionAtFairValueFairValueDisclosureMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Portion at Fair Value Measurement </link:label>
<link:label id="lab_us-gaap_PortionAtFairValueFairValueDisclosureMember_label_en-US" xlink:label="lab_us-gaap_PortionAtFairValueFairValueDisclosureMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Portion at Fair Value Measurement [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_PortionAtFairValueFairValueDisclosureMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PortionAtFairValueFairValueDisclosureMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PortionAtFairValueFairValueDisclosureMember" xlink:to="lab_us-gaap_PortionAtFairValueFairValueDisclosureMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_TransactionTypeAxis_5a2a1fdf-5831-4362-81c0-f3bd0fa19967_terseLabel_en-US" xlink:label="lab_us-gaap_TransactionTypeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Transaction Type [Axis] </link:label>
<link:label id="lab_us-gaap_TransactionTypeAxis_label_en-US" xlink:label="lab_us-gaap_TransactionTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Transaction Type [Axis] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_TransactionTypeAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_TransactionTypeAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TransactionTypeAxis" xlink:to="lab_us-gaap_TransactionTypeAxis" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DerivativeLiabilityCollateralRightToReclaimCashOffset_23ff4db2-b4d7-4d19-aa67-129c11a66996_negatedLabel_en-US" xlink:label="lab_us-gaap_DerivativeLiabilityCollateralRightToReclaimCashOffset" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Amounts offset against cash collateral netting </link:label>
<link:label id="lab_us-gaap_DerivativeLiabilityCollateralRightToReclaimCashOffset_label_en-US" xlink:label="lab_us-gaap_DerivativeLiabilityCollateralRightToReclaimCashOffset" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative Liability, Subject to Master Netting Arrangement, Collateral, Right to Reclaim Cash Offset </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeLiabilityCollateralRightToReclaimCashOffset" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DerivativeLiabilityCollateralRightToReclaimCashOffset"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeLiabilityCollateralRightToReclaimCashOffset" xlink:to="lab_us-gaap_DerivativeLiabilityCollateralRightToReclaimCashOffset" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue_1230d6f5-34f8-4747-b951-26087d77df5c_terseLabel_en-US" xlink:label="lab_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> HTM securities: Fair value, after 1 year through 5 years </link:label>
<link:label id="lab_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue_label_en-US" xlink:label="lab_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, after Year One Through Five </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_HeldToMaturitySecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue" xlink:to="lab_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ValuationTechniqueOptionPricingModelMember_f2e99847-8adf-4090-8f15-ee9b6d1f6f94_terseLabel_en-US" xlink:label="lab_us-gaap_ValuationTechniqueOptionPricingModelMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Option Model </link:label>
<link:label id="lab_us-gaap_ValuationTechniqueOptionPricingModelMember_label_en-US" xlink:label="lab_us-gaap_ValuationTechniqueOptionPricingModelMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Valuation Technique, Option Pricing Model [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ValuationTechniqueOptionPricingModelMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ValuationTechniqueOptionPricingModelMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ValuationTechniqueOptionPricingModelMember" xlink:to="lab_us-gaap_ValuationTechniqueOptionPricingModelMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAmortizedCost_2f8e941c-2b5d-4e78-8335-f0cb6da3d181_terseLabel_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAmortizedCost" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> AFS securities: Amortized cost, after 10 years </link:label>
<link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAmortizedCost_label_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAmortizedCost" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year 10 </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAmortizedCost" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAmortizedCost"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAmortizedCost" xlink:to="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAmortizedCost" xlink:type="arc" order="1"/>
<link:label id="lab_ms_FinancingReceivableIncludingHeldForSaleWithVariableRatesOfInterest_c08ffe83-cde9-4443-8bd7-28c3f0186dff_terseLabel_en-US" xlink:label="lab_ms_FinancingReceivableIncludingHeldForSaleWithVariableRatesOfInterest" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Floating or Adjustable Rate </link:label>
<link:label id="lab_ms_FinancingReceivableIncludingHeldForSaleWithVariableRatesOfInterest_label_en-US" xlink:label="lab_ms_FinancingReceivableIncludingHeldForSaleWithVariableRatesOfInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financing Receivable Including Held-for-Sale with Variable Rates of Interest </link:label>
<link:label id="lab_ms_FinancingReceivableIncludingHeldForSaleWithVariableRatesOfInterest_documentation_en-US" xlink:label="lab_ms_FinancingReceivableIncludingHeldForSaleWithVariableRatesOfInterest" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financing Receivable Including Held-for-Sale with Variable Rates of Interest </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_FinancingReceivableIncludingHeldForSaleWithVariableRatesOfInterest" xlink:href="ms-20231231.xsd#ms_FinancingReceivableIncludingHeldForSaleWithVariableRatesOfInterest"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_FinancingReceivableIncludingHeldForSaleWithVariableRatesOfInterest" xlink:to="lab_ms_FinancingReceivableIncludingHeldForSaleWithVariableRatesOfInterest" xlink:type="arc" order="1"/>
<link:label id="lab_ms_AvailableForSaleSecuritiesDebtMaturitiesYearSixThroughTenAnnualizedAverageYield_525cb336-f7b8-435e-9bf9-4659ad5c39c9_terseLabel_en-US" xlink:label="lab_ms_AvailableForSaleSecuritiesDebtMaturitiesYearSixThroughTenAnnualizedAverageYield" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> AFS securities: Annualized average yield, after 5 years through 10 years (as a percent) </link:label>
<link:label id="lab_ms_AvailableForSaleSecuritiesDebtMaturitiesYearSixThroughTenAnnualizedAverageYield_label_en-US" xlink:label="lab_ms_AvailableForSaleSecuritiesDebtMaturitiesYearSixThroughTenAnnualizedAverageYield" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Available-for-sale Securities, Debt Maturities, Year Six Through Ten, Annualized Average Yield </link:label>
<link:label id="lab_ms_AvailableForSaleSecuritiesDebtMaturitiesYearSixThroughTenAnnualizedAverageYield_documentation_en-US" xlink:label="lab_ms_AvailableForSaleSecuritiesDebtMaturitiesYearSixThroughTenAnnualizedAverageYield" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Annualized average yield of available-for-sale debt securities maturing in the sixth fiscal year through the tenth fiscal year following the latest fiscal year. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_AvailableForSaleSecuritiesDebtMaturitiesYearSixThroughTenAnnualizedAverageYield" xlink:href="ms-20231231.xsd#ms_AvailableForSaleSecuritiesDebtMaturitiesYearSixThroughTenAnnualizedAverageYield"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_AvailableForSaleSecuritiesDebtMaturitiesYearSixThroughTenAnnualizedAverageYield" xlink:to="lab_ms_AvailableForSaleSecuritiesDebtMaturitiesYearSixThroughTenAnnualizedAverageYield" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ScheduleOfDerivativeLiabilitiesAtFairValueTableTextBlock_5be07403-f6c0-45e4-80f7-b5d460905b8e_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfDerivativeLiabilitiesAtFairValueTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Fair Values of Derivative Liability Contracts </link:label>
<link:label id="lab_us-gaap_ScheduleOfDerivativeLiabilitiesAtFairValueTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfDerivativeLiabilitiesAtFairValueTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Derivative Liabilities at Fair Value [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfDerivativeLiabilitiesAtFairValueTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfDerivativeLiabilitiesAtFairValueTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfDerivativeLiabilitiesAtFairValueTableTextBlock" xlink:to="lab_us-gaap_ScheduleOfDerivativeLiabilitiesAtFairValueTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_ms_JointVenturePartnerNameDomain_12e4c59d-0d99-4754-95a7-0a6af938e5ed_terseLabel_en-US" xlink:label="lab_ms_JointVenturePartnerNameDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Joint Venture Partner, Name [Domain] </link:label>
<link:label id="lab_ms_JointVenturePartnerNameDomain_label_en-US" xlink:label="lab_ms_JointVenturePartnerNameDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Joint Venture Partner, Name [Domain] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_JointVenturePartnerNameDomain" xlink:href="ms-20231231.xsd#ms_JointVenturePartnerNameDomain"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_JointVenturePartnerNameDomain" xlink:to="lab_ms_JointVenturePartnerNameDomain" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_AwardTypeAxis_fefec1fa-da72-4019-983a-b6abc864735e_terseLabel_en-US" xlink:label="lab_us-gaap_AwardTypeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Award Type [Axis] </link:label>
<link:label id="lab_us-gaap_AwardTypeAxis_label_en-US" xlink:label="lab_us-gaap_AwardTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Award Type [Axis] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AwardTypeAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AwardTypeAxis"/>
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<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_6b8544ca-218e-4f1c-9572-fab162e0697b_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Awarded (in shares) </link:label>
<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod"/>
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<link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear_07c39184-3c51-4639-82ba-acecc92c4f98_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Prior </link:label>
<link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear"/>
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<link:label id="lab_us-gaap_ReconciliationOfUnrecognizedTaxBenefitsExcludingAmountsPertainingToExaminedTaxReturnsRollForward_674a1ca4-3d2c-41f8-b6b0-34b3f1da0ec5_terseLabel_en-US" xlink:label="lab_us-gaap_ReconciliationOfUnrecognizedTaxBenefitsExcludingAmountsPertainingToExaminedTaxReturnsRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Rollforward of Unrecognized Tax Benefits </link:label>
<link:label id="lab_us-gaap_ReconciliationOfUnrecognizedTaxBenefitsExcludingAmountsPertainingToExaminedTaxReturnsRollForward_label_en-US" xlink:label="lab_us-gaap_ReconciliationOfUnrecognizedTaxBenefitsExcludingAmountsPertainingToExaminedTaxReturnsRollForward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ReconciliationOfUnrecognizedTaxBenefitsExcludingAmountsPertainingToExaminedTaxReturnsRollForward" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ReconciliationOfUnrecognizedTaxBenefitsExcludingAmountsPertainingToExaminedTaxReturnsRollForward"/>
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<link:label id="lab_us-gaap_DividendsCommonStock_565993e9-8b99-4921-aeba-b0c4b12395df_negatedLabel_en-US" xlink:label="lab_us-gaap_DividendsCommonStock" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Common stock dividends </link:label>
<link:label id="lab_us-gaap_DividendsCommonStock_734b71d9-d373-4244-88ba-26ddce74eafd_terseLabel_en-US" xlink:label="lab_us-gaap_DividendsCommonStock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Common stock dividends </link:label>
<link:label id="lab_us-gaap_DividendsCommonStock_label_en-US" xlink:label="lab_us-gaap_DividendsCommonStock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Dividends, Common Stock </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DividendsCommonStock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DividendsCommonStock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DividendsCommonStock" xlink:to="lab_us-gaap_DividendsCommonStock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability_7d884b58-78b3-4a7a-90cf-e296e738f6b4_terseLabel_en-US" xlink:label="lab_us-gaap_RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Non-cash—ROU assets recorded for new and modified leases </link:label>
<link:label id="lab_us-gaap_RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability_label_en-US" xlink:label="lab_us-gaap_RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Right-of-Use Asset Obtained in Exchange for Operating Lease Liability </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability"/>
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<link:label id="lab_us-gaap_DividendsDeclaredTableTextBlock_6eab3385-ca91-4205-8576-917583d4788e_terseLabel_en-US" xlink:label="lab_us-gaap_DividendsDeclaredTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Common Stock Dividends Per Share </link:label>
<link:label id="lab_us-gaap_DividendsDeclaredTableTextBlock_label_en-US" xlink:label="lab_us-gaap_DividendsDeclaredTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Dividends Declared [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DividendsDeclaredTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DividendsDeclaredTableTextBlock"/>
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<link:label id="lab_us-gaap_CashProceedsReceivedAndTaxBenefitFromShareBasedPaymentAwardsTableTextBlock_bc038f4f-4fa1-43d8-a3b5-7e9ccefd0b47_terseLabel_en-US" xlink:label="lab_us-gaap_CashProceedsReceivedAndTaxBenefitFromShareBasedPaymentAwardsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Tax Benefit Related to Stock-Based Compensation Expense </link:label>
<link:label id="lab_us-gaap_CashProceedsReceivedAndTaxBenefitFromShareBasedPaymentAwardsTableTextBlock_label_en-US" xlink:label="lab_us-gaap_CashProceedsReceivedAndTaxBenefitFromShareBasedPaymentAwardsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Cash Proceeds Received and Tax Benefit from Share-Based Payment Awards [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashProceedsReceivedAndTaxBenefitFromShareBasedPaymentAwardsTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CashProceedsReceivedAndTaxBenefitFromShareBasedPaymentAwardsTableTextBlock"/>
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<link:label id="lab_us-gaap_LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_1a934b4c-4162-4345-b85f-492f9df030c9_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_LesseeOperatingLeaseLiabilityUndiscountedExcessAmount" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Imputed interest </link:label>
<link:label id="lab_us-gaap_LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_label_en-US" xlink:label="lab_us-gaap_LesseeOperatingLeaseLiabilityUndiscountedExcessAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Lessee, Operating Lease, Liability, Undiscounted Excess Amount </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityUndiscountedExcessAmount" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LesseeOperatingLeaseLiabilityUndiscountedExcessAmount"/>
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<link:label id="lab_us-gaap_DefinedBenefitPlanExpectedReturnOnPlanAssets_dd1dd954-0b2c-4110-8e41-166421d4f2a3_negatedLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanExpectedReturnOnPlanAssets" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Expected return on plan assets </link:label>
<link:label id="lab_us-gaap_DefinedBenefitPlanExpectedReturnOnPlanAssets_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanExpectedReturnOnPlanAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Defined Benefit Plan, Expected Return (Loss) on Plan Assets </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanExpectedReturnOnPlanAssets" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DefinedBenefitPlanExpectedReturnOnPlanAssets"/>
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<link:label id="lab_us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock_655abda4-8f65-4d66-9cee-aa94c1c423b4_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Components of Provision for (Benefit from) Income Taxes </link:label>
<link:label id="lab_us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock"/>
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<link:label id="lab_us-gaap_TimeDepositLiabilityUninsuredMaturityAbstract_62ee30c3-85e1-422c-9446-673039ed4db1_terseLabel_en-US" xlink:label="lab_us-gaap_TimeDepositLiabilityUninsuredMaturityAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Uninsured Non-U.S. Time Deposit Maturities </link:label>
<link:label id="lab_us-gaap_TimeDepositLiabilityUninsuredMaturityAbstract_label_en-US" xlink:label="lab_us-gaap_TimeDepositLiabilityUninsuredMaturityAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Time Deposit Liability, Uninsured, Maturity [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_TimeDepositLiabilityUninsuredMaturityAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_TimeDepositLiabilityUninsuredMaturityAbstract"/>
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<link:label id="lab_ms_NonredeemableFundsMaturityWithinNextFiveYearsAtCarryingValue_ab4d9cdc-2135-4d31-ba4f-055527da7482_terseLabel_en-US" xlink:label="lab_ms_NonredeemableFundsMaturityWithinNextFiveYearsAtCarryingValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Less than 5 years </link:label>
<link:label id="lab_ms_NonredeemableFundsMaturityWithinNextFiveYearsAtCarryingValue_label_en-US" xlink:label="lab_ms_NonredeemableFundsMaturityWithinNextFiveYearsAtCarryingValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Nonredeemable Funds, Maturity, within Next Five Years, at Carrying Value </link:label>
<link:label id="lab_ms_NonredeemableFundsMaturityWithinNextFiveYearsAtCarryingValue_documentation_en-US" xlink:label="lab_ms_NonredeemableFundsMaturityWithinNextFiveYearsAtCarryingValue" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Carrying value of nonredeemable funds maturing in next five fiscal years following latest fiscal year. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_NonredeemableFundsMaturityWithinNextFiveYearsAtCarryingValue" xlink:href="ms-20231231.xsd#ms_NonredeemableFundsMaturityWithinNextFiveYearsAtCarryingValue"/>
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<link:label id="lab_us-gaap_ComputerSoftwareIntangibleAssetMember_82eec113-5020-4b73-af4f-2031624742bd_terseLabel_en-US" xlink:label="lab_us-gaap_ComputerSoftwareIntangibleAssetMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Capitalized software costs </link:label>
<link:label id="lab_us-gaap_ComputerSoftwareIntangibleAssetMember_label_en-US" xlink:label="lab_us-gaap_ComputerSoftwareIntangibleAssetMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Computer Software, Intangible Asset [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ComputerSoftwareIntangibleAssetMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ComputerSoftwareIntangibleAssetMember"/>
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<link:label id="lab_us-gaap_SecuritiesLoaned_78fa53f9-c6d3-4b83-b8ec-6dac6ba524fa_terseLabel_en-US" xlink:label="lab_us-gaap_SecuritiesLoaned" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Securities loaned </link:label>
<link:label id="lab_us-gaap_SecuritiesLoaned_f93b5401-cfec-4043-a987-11c5e7e5a162_totalLabel_en-US" xlink:label="lab_us-gaap_SecuritiesLoaned" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Balance Sheet Net Amounts </link:label>
<link:label id="lab_us-gaap_SecuritiesLoaned_label_en-US" xlink:label="lab_us-gaap_SecuritiesLoaned" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Securities Loaned </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_SecuritiesLoaned" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SecuritiesLoaned"/>
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<link:label id="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearThree_42464f46-b17e-40fa-99f7-d058160d8ce5_terseLabel_en-US" xlink:label="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearThree" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Year Three </link:label>
<link:label id="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearThree_label_en-US" xlink:label="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearThree" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Lessee, Operating Lease, Liability, to be Paid, Year Three </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearThree" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearThree"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearThree" xlink:to="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearThree" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsNet_a8038602-7b3e-43fd-8ebc-5daa10a08e1e_periodStartLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsNet" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Beginning balance </link:label>
<link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsNet_f0b0f54e-225c-43f0-9124-6d5aaf01cac5_periodEndLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsNet" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Ending balance </link:label>
<link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsNet_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Finite-Lived Intangible Assets, Net </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsNet" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FiniteLivedIntangibleAssetsNet"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsNet" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsNet" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_1e02f57f-7685-4701-9655-4b046bcdae71_terseLabel_en-US" xlink:label="lab_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Accounting Updates Adopted </link:label>
<link:label id="lab_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> New Accounting Pronouncements, Policy [Policy Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:to="lab_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits_2f54b0b1-0f09-4771-aafd-9ef3af5b95e6_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Employee compensation and benefit plans </link:label>
<link:label id="lab_us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits_label_en-US" xlink:label="lab_us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits" xlink:to="lab_us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_InternalCreditAssessmentAxis_a3682b41-a7ab-4b8c-af42-ee23c2949e9a_terseLabel_en-US" xlink:label="lab_us-gaap_InternalCreditAssessmentAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Internal Credit Assessment [Axis] </link:label>
<link:label id="lab_us-gaap_InternalCreditAssessmentAxis_label_en-US" xlink:label="lab_us-gaap_InternalCreditAssessmentAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Internal Credit Assessment [Axis] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_InternalCreditAssessmentAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_InternalCreditAssessmentAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InternalCreditAssessmentAxis" xlink:to="lab_us-gaap_InternalCreditAssessmentAxis" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DebtInstrumentFairValue_00392bca-14a6-4fa2-9072-4c983a812162_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentFairValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Borrowings at fair value </link:label>
<link:label id="lab_us-gaap_DebtInstrumentFairValue_6125d91f-dec3-4ac8-b740-4ba3696d1cc5_verboseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentFairValue" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Borrowings </link:label>
<link:label id="lab_us-gaap_DebtInstrumentFairValue_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt Instrument, Fair Value Disclosure </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentFairValue" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DebtInstrumentFairValue"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentFairValue" xlink:to="lab_us-gaap_DebtInstrumentFairValue" xlink:type="arc" order="1"/>
<link:label id="lab_ms_DepositLiabilitiesTableTextBlock_b32c88cc-04eb-41ea-b491-2c9f0ca37e09_terseLabel_en-US" xlink:label="lab_ms_DepositLiabilitiesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Deposits </link:label>
<link:label id="lab_ms_DepositLiabilitiesTableTextBlock_label_en-US" xlink:label="lab_ms_DepositLiabilitiesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Deposit Liabilities [Table Text Block] </link:label>
<link:label id="lab_ms_DepositLiabilitiesTableTextBlock_documentation_en-US" xlink:label="lab_ms_DepositLiabilitiesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Tabular disclosure of deposit liability. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_DepositLiabilitiesTableTextBlock" xlink:href="ms-20231231.xsd#ms_DepositLiabilitiesTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_DepositLiabilitiesTableTextBlock" xlink:to="lab_ms_DepositLiabilitiesTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_ms_InterestInVariableInterestEntityDomain_53056418-e058-4e8a-af73-507baa767a69_terseLabel_en-US" xlink:label="lab_ms_InterestInVariableInterestEntityDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Interest in Variable Interest Entity [Domain] </link:label>
<link:label id="lab_ms_InterestInVariableInterestEntityDomain_label_en-US" xlink:label="lab_ms_InterestInVariableInterestEntityDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Interest in Variable Interest Entity [Domain] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_InterestInVariableInterestEntityDomain" xlink:href="ms-20231231.xsd#ms_InterestInVariableInterestEntityDomain"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_InterestInVariableInterestEntityDomain" xlink:to="lab_ms_InterestInVariableInterestEntityDomain" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsRollForward_bf9faa4a-dc16-4f47-beda-2f79d4c78f40_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Finite-lived Intangible Assets [Roll Forward] </link:label>
<link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsRollForward_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsRollForward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Finite-Lived Intangible Assets [Roll Forward] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsRollForward" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FiniteLivedIntangibleAssetsRollForward"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsRollForward" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsRollForward" xlink:type="arc" order="1"/>
<link:label id="lab_dei_SecurityExchangeName_8c275377-6b9d-4462-abff-b80256d5f187_terseLabel_en-US" xlink:label="lab_dei_SecurityExchangeName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Security Exchange Name </link:label>
<link:label id="lab_dei_SecurityExchangeName_label_en-US" xlink:label="lab_dei_SecurityExchangeName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Security Exchange Name </link:label>
<link:loc xlink:type="locator" xlink:label="loc_dei_SecurityExchangeName" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_SecurityExchangeName"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_SecurityExchangeName" xlink:to="lab_dei_SecurityExchangeName" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_SecuritiesSoldUnderAgreementsToRepurchaseAmountOffsetAgainstCollateral_c6745044-c2d0-4946-b9fe-9dd8eb835537_totalLabel_en-US" xlink:label="lab_us-gaap_SecuritiesSoldUnderAgreementsToRepurchaseAmountOffsetAgainstCollateral" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Net Amounts </link:label>
<link:label id="lab_us-gaap_SecuritiesSoldUnderAgreementsToRepurchaseAmountOffsetAgainstCollateral_label_en-US" xlink:label="lab_us-gaap_SecuritiesSoldUnderAgreementsToRepurchaseAmountOffsetAgainstCollateral" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Security Sold under Agreement to Repurchase, Including Not Subject to Master Netting Arrangement, after Offset and Deduction </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_SecuritiesSoldUnderAgreementsToRepurchaseAmountOffsetAgainstCollateral" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SecuritiesSoldUnderAgreementsToRepurchaseAmountOffsetAgainstCollateral"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SecuritiesSoldUnderAgreementsToRepurchaseAmountOffsetAgainstCollateral" xlink:to="lab_us-gaap_SecuritiesSoldUnderAgreementsToRepurchaseAmountOffsetAgainstCollateral" xlink:type="arc" order="1"/>
<link:label id="lab_ms_DividendIncomeBankSubsidiaries_bf3a1390-203d-4f1e-b328-723f2702fa43_terseLabel_en-US" xlink:label="lab_ms_DividendIncomeBankSubsidiaries" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Dividends from bank subsidiaries </link:label>
<link:label id="lab_ms_DividendIncomeBankSubsidiaries_label_en-US" xlink:label="lab_ms_DividendIncomeBankSubsidiaries" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Dividend Income, Bank Subsidiaries </link:label>
<link:label id="lab_ms_DividendIncomeBankSubsidiaries_documentation_en-US" xlink:label="lab_ms_DividendIncomeBankSubsidiaries" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Amount of dividends from bank subsidiaries. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_DividendIncomeBankSubsidiaries" xlink:href="ms-20231231.xsd#ms_DividendIncomeBankSubsidiaries"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_DividendIncomeBankSubsidiaries" xlink:to="lab_ms_DividendIncomeBankSubsidiaries" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage_3bb231a6-2d18-409e-a1e8-a0e9c1044fc6_terseLabel_en-US" xlink:label="lab_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Proportion of PSUs that will vest (as a percent) </link:label>
<link:label id="lab_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage_label_en-US" xlink:label="lab_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage" xlink:to="lab_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage" xlink:type="arc" order="1"/>
<link:label id="lab_srt_FinancingReceivableCreditRatioTableTextBlock_2524dfdf-4932-41c8-945e-611dee858fb8_terseLabel_en-US" xlink:label="lab_srt_FinancingReceivableCreditRatioTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Selected Credit Ratios </link:label>
<link:label id="lab_srt_FinancingReceivableCreditRatioTableTextBlock_label_en-US" xlink:label="lab_srt_FinancingReceivableCreditRatioTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financing Receivable, Credit Ratio [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_srt_FinancingReceivableCreditRatioTableTextBlock" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_FinancingReceivableCreditRatioTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_FinancingReceivableCreditRatioTableTextBlock" xlink:to="lab_srt_FinancingReceivableCreditRatioTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock_9afb8922-60fb-489d-8144-b698b6039d6d_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative Instruments and Hedging Activities </link:label>
<link:label id="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative Instruments and Hedging Activities Disclosure [Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock" xlink:to="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FairValueRecurringBasisUnobservableInputReconciliationLiabilityGainLossStatementOfOtherComprehensiveIncomeExtensibleList_ecb1afb5-d466-400c-872c-b87d715f52ba_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueRecurringBasisUnobservableInputReconciliationLiabilityGainLossStatementOfOtherComprehensiveIncomeExtensibleList" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value, Liability, Recurring Basis, Unobservable Input Reconciliation, Liability, Gain (Loss), Statement of Other Comprehensive Income or Comprehensive Income [Extensible Enumeration] </link:label>
<link:label id="lab_us-gaap_FairValueRecurringBasisUnobservableInputReconciliationLiabilityGainLossStatementOfOtherComprehensiveIncomeExtensibleList_label_en-US" xlink:label="lab_us-gaap_FairValueRecurringBasisUnobservableInputReconciliationLiabilityGainLossStatementOfOtherComprehensiveIncomeExtensibleList" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value, Liability, Recurring Basis, Unobservable Input Reconciliation, Liability, Gain (Loss), Statement of Other Comprehensive Income or Comprehensive Income [Extensible Enumeration] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueRecurringBasisUnobservableInputReconciliationLiabilityGainLossStatementOfOtherComprehensiveIncomeExtensibleList" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueRecurringBasisUnobservableInputReconciliationLiabilityGainLossStatementOfOtherComprehensiveIncomeExtensibleList"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueRecurringBasisUnobservableInputReconciliationLiabilityGainLossStatementOfOtherComprehensiveIncomeExtensibleList" xlink:to="lab_us-gaap_FairValueRecurringBasisUnobservableInputReconciliationLiabilityGainLossStatementOfOtherComprehensiveIncomeExtensibleList" xlink:type="arc" order="1"/>
<link:label id="lab_srt_MaximumMember_7ffb66aa-e81a-44a6-81dc-eacbd9b02bb2_terseLabel_en-US" xlink:label="lab_srt_MaximumMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Maximum </link:label>
<link:label id="lab_srt_MaximumMember_label_en-US" xlink:label="lab_srt_MaximumMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Maximum [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_srt_MaximumMember" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_MaximumMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_MaximumMember" xlink:to="lab_srt_MaximumMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostWillBeRecognizedAbsentEstimatedOrActualForfeituresOrCancellationsThereafter_d9e1314c-f4b1-4e4b-b6c6-a30b42ef769f_terseLabel_en-US" xlink:label="lab_ms_EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostWillBeRecognizedAbsentEstimatedOrActualForfeituresOrCancellationsThereafter" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Thereafter </link:label>
<link:label id="lab_ms_EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostWillBeRecognizedAbsentEstimatedOrActualForfeituresOrCancellationsThereafter_label_en-US" xlink:label="lab_ms_EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostWillBeRecognizedAbsentEstimatedOrActualForfeituresOrCancellationsThereafter" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Will Be Recognized Absent Estimated or Actual Forfeitures or Cancellations, Thereafter </link:label>
<link:label id="lab_ms_EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostWillBeRecognizedAbsentEstimatedOrActualForfeituresOrCancellationsThereafter_documentation_en-US" xlink:label="lab_ms_EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostWillBeRecognizedAbsentEstimatedOrActualForfeituresOrCancellationsThereafter" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> As of the balance sheet date, the aggregate unrecognized cost of equity-based awards made to employees under equity-based compensation awards that have yet to vest will be recognized absent estimated or actual forfeitures or cancellations thereafter. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostWillBeRecognizedAbsentEstimatedOrActualForfeituresOrCancellationsThereafter" xlink:href="ms-20231231.xsd#ms_EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostWillBeRecognizedAbsentEstimatedOrActualForfeituresOrCancellationsThereafter"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostWillBeRecognizedAbsentEstimatedOrActualForfeituresOrCancellationsThereafter" xlink:to="lab_ms_EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostWillBeRecognizedAbsentEstimatedOrActualForfeituresOrCancellationsThereafter" xlink:type="arc" order="1"/>
<link:label id="lab_dei_DocumentType_13ba5b5c-3a21-40d3-8b56-24b547fcfc86_terseLabel_en-US" xlink:label="lab_dei_DocumentType" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Document Type </link:label>
<link:label id="lab_dei_DocumentType_label_en-US" xlink:label="lab_dei_DocumentType" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Document Type </link:label>
<link:loc xlink:type="locator" xlink:label="loc_dei_DocumentType" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentType"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentType" xlink:to="lab_dei_DocumentType" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_CommercialLoanMember_a7cf93a2-7b74-4a68-b27f-6000a39a746d_terseLabel_en-US" xlink:label="lab_us-gaap_CommercialLoanMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Corporate </link:label>
<link:label id="lab_us-gaap_CommercialLoanMember_6c6a4b1f-7e99-4518-8c21-0f74bacbb90d_verboseLabel_en-US" xlink:label="lab_us-gaap_CommercialLoanMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Corporate Loans </link:label>
<link:label id="lab_us-gaap_CommercialLoanMember_label_en-US" xlink:label="lab_us-gaap_CommercialLoanMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Commercial Loan [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommercialLoanMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CommercialLoanMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommercialLoanMember" xlink:to="lab_us-gaap_CommercialLoanMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_OtherComprehensiveIncomeLocationDomain_146001b9-0230-465e-8452-0a591d970546_terseLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLocationDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other Comprehensive Income Location [Domain] </link:label>
<link:label id="lab_us-gaap_OtherComprehensiveIncomeLocationDomain_label_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLocationDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other Comprehensive Income Location [Domain] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLocationDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OtherComprehensiveIncomeLocationDomain"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherComprehensiveIncomeLocationDomain" xlink:to="lab_us-gaap_OtherComprehensiveIncomeLocationDomain" xlink:type="arc" order="1"/>
<link:label id="lab_ms_SaleOfStockAmountOfStockOfferedInTransaction_2ce7b84b-dc59-42fb-a7d3-a70a8608c0c0_terseLabel_en-US" xlink:label="lab_ms_SaleOfStockAmountOfStockOfferedInTransaction" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Amount of stock offered </link:label>
<link:label id="lab_ms_SaleOfStockAmountOfStockOfferedInTransaction_label_en-US" xlink:label="lab_ms_SaleOfStockAmountOfStockOfferedInTransaction" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Sale Of Stock, Amount Of Stock Offered In Transaction </link:label>
<link:label id="lab_ms_SaleOfStockAmountOfStockOfferedInTransaction_documentation_en-US" xlink:label="lab_ms_SaleOfStockAmountOfStockOfferedInTransaction" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Sale Of Stock, Amount Of Stock Offered In Transaction </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_SaleOfStockAmountOfStockOfferedInTransaction" xlink:href="ms-20231231.xsd#ms_SaleOfStockAmountOfStockOfferedInTransaction"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_SaleOfStockAmountOfStockOfferedInTransaction" xlink:to="lab_ms_SaleOfStockAmountOfStockOfferedInTransaction" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ReclassificationOutOfAccumulatedOtherComprehensiveIncomeTable_342909c3-875d-41f7-b7f8-28c5cc763ea5_terseLabel_en-US" xlink:label="lab_us-gaap_ReclassificationOutOfAccumulatedOtherComprehensiveIncomeTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Reclassification out of Accumulated Other Comprehensive Income [Table] </link:label>
<link:label id="lab_us-gaap_ReclassificationOutOfAccumulatedOtherComprehensiveIncomeTable_label_en-US" xlink:label="lab_us-gaap_ReclassificationOutOfAccumulatedOtherComprehensiveIncomeTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Reclassification out of Accumulated Other Comprehensive Income [Table] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ReclassificationOutOfAccumulatedOtherComprehensiveIncomeTable" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ReclassificationOutOfAccumulatedOtherComprehensiveIncomeTable"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ReclassificationOutOfAccumulatedOtherComprehensiveIncomeTable" xlink:to="lab_us-gaap_ReclassificationOutOfAccumulatedOtherComprehensiveIncomeTable" xlink:type="arc" order="1"/>
<link:label id="lab_ms_ScheduleOfNetDerivativeLiabilitiesAndCollateralPostedTableTextBlock_266beed6-9def-4f93-ba47-06aed27397c7_terseLabel_en-US" xlink:label="lab_ms_ScheduleOfNetDerivativeLiabilitiesAndCollateralPostedTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Net Derivative Liabilities and Collateral Posted </link:label>
<link:label id="lab_ms_ScheduleOfNetDerivativeLiabilitiesAndCollateralPostedTableTextBlock_label_en-US" xlink:label="lab_ms_ScheduleOfNetDerivativeLiabilitiesAndCollateralPostedTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Net Derivative Liabilities and Collateral Posted [Table Text Block] </link:label>
<link:label id="lab_ms_ScheduleOfNetDerivativeLiabilitiesAndCollateralPostedTableTextBlock_documentation_en-US" xlink:label="lab_ms_ScheduleOfNetDerivativeLiabilitiesAndCollateralPostedTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Net Derivative Liabilities and Collateral Posted </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_ScheduleOfNetDerivativeLiabilitiesAndCollateralPostedTableTextBlock" xlink:href="ms-20231231.xsd#ms_ScheduleOfNetDerivativeLiabilitiesAndCollateralPostedTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_ScheduleOfNetDerivativeLiabilitiesAndCollateralPostedTableTextBlock" xlink:to="lab_ms_ScheduleOfNetDerivativeLiabilitiesAndCollateralPostedTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_EMEAMember_74c88cdc-0238-4eec-91a0-3b57c60e6f91_terseLabel_en-US" xlink:label="lab_us-gaap_EMEAMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> EMEA </link:label>
<link:label id="lab_us-gaap_EMEAMember_label_en-US" xlink:label="lab_us-gaap_EMEAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> EMEA [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_EMEAMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_EMEAMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EMEAMember" xlink:to="lab_us-gaap_EMEAMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_02cf03a7-10d2-410c-a364-4d1408302a0f_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> After year 5 </link:label>
<link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_label_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Long-Term Debt, Maturity, after Year Five </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive" xlink:to="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_VariableInterestEntityEntityMaximumLossExposureAmount_c67f3b95-d598-4bc5-9382-729d50d674db_terseLabel_en-US" xlink:label="lab_us-gaap_VariableInterestEntityEntityMaximumLossExposureAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Maximum exposure to loss </link:label>
<link:label id="lab_us-gaap_VariableInterestEntityEntityMaximumLossExposureAmount_label_en-US" xlink:label="lab_us-gaap_VariableInterestEntityEntityMaximumLossExposureAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_VariableInterestEntityEntityMaximumLossExposureAmount" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_VariableInterestEntityEntityMaximumLossExposureAmount"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_VariableInterestEntityEntityMaximumLossExposureAmount" xlink:to="lab_us-gaap_VariableInterestEntityEntityMaximumLossExposureAmount" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingGain_8828ae5d-129f-4a02-85a6-d0b45a650b63_terseLabel_en-US" xlink:label="lab_us-gaap_HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingGain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Gross Unrealized Gains </link:label>
<link:label id="lab_us-gaap_HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingGain_label_en-US" xlink:label="lab_us-gaap_HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingGain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt Securities, Held-to-Maturity, Accumulated Unrecognized Gain </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingGain" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingGain"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingGain" xlink:to="lab_us-gaap_HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingGain" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_e3ecc46b-4c28-47f4-a596-328978698856_terseLabel_en-US" xlink:label="lab_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Deferred Compensation Plans and Carried Interest Compensation </link:label>
<link:label id="lab_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_label_en-US" xlink:label="lab_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Share-Based Payment Arrangement [Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:to="lab_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_BasisOfAccountingPolicyPolicyTextBlock_3c7ecc28-2097-4974-bd1d-66174ae6c340_terseLabel_en-US" xlink:label="lab_us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Basis of Financial Information </link:label>
<link:label id="lab_us-gaap_BasisOfAccountingPolicyPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Basis of Accounting, Policy [Policy Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_BasisOfAccountingPolicyPolicyTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:to="lab_us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_SecuritiesLoanedOrSoldUnderAgreementsToRepurchaseMember_1f49f50f-4f85-45ee-8f34-8149d24f5006_terseLabel_en-US" xlink:label="lab_us-gaap_SecuritiesLoanedOrSoldUnderAgreementsToRepurchaseMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Securities sold under agreements to repurchase </link:label>
<link:label id="lab_us-gaap_SecuritiesLoanedOrSoldUnderAgreementsToRepurchaseMember_label_en-US" xlink:label="lab_us-gaap_SecuritiesLoanedOrSoldUnderAgreementsToRepurchaseMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Securities Loaned or Sold under Agreements to Repurchase [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_SecuritiesLoanedOrSoldUnderAgreementsToRepurchaseMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SecuritiesLoanedOrSoldUnderAgreementsToRepurchaseMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SecuritiesLoanedOrSoldUnderAgreementsToRepurchaseMember" xlink:to="lab_us-gaap_SecuritiesLoanedOrSoldUnderAgreementsToRepurchaseMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_ScheduleOfShareBasedCompensationFairValueOfRestrictedStockUnitsActivityTableTextBlock_2aa4e9d9-f654-4d55-bcfa-b38a143d0bff_terseLabel_en-US" xlink:label="lab_ms_ScheduleOfShareBasedCompensationFairValueOfRestrictedStockUnitsActivityTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Fair Value of RSU Activity </link:label>
<link:label id="lab_ms_ScheduleOfShareBasedCompensationFairValueOfRestrictedStockUnitsActivityTableTextBlock_label_en-US" xlink:label="lab_ms_ScheduleOfShareBasedCompensationFairValueOfRestrictedStockUnitsActivityTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Share-based Compensation Fair Value of Restricted Stock Units Activity [Table Text Block] </link:label>
<link:label id="lab_ms_ScheduleOfShareBasedCompensationFairValueOfRestrictedStockUnitsActivityTableTextBlock_documentation_en-US" xlink:label="lab_ms_ScheduleOfShareBasedCompensationFairValueOfRestrictedStockUnitsActivityTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Tabular disclosure of weighted average fair value of restricted stock units that are converted to stock and vested during the period. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_ScheduleOfShareBasedCompensationFairValueOfRestrictedStockUnitsActivityTableTextBlock" xlink:href="ms-20231231.xsd#ms_ScheduleOfShareBasedCompensationFairValueOfRestrictedStockUnitsActivityTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_ScheduleOfShareBasedCompensationFairValueOfRestrictedStockUnitsActivityTableTextBlock" xlink:to="lab_ms_ScheduleOfShareBasedCompensationFairValueOfRestrictedStockUnitsActivityTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_ms_NonderivativeTradingLiabilitiesMember_18f348bf-6c63-465f-ac14-436d335a1299_terseLabel_en-US" xlink:label="lab_ms_NonderivativeTradingLiabilitiesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Nonderivative trading liabilities </link:label>
<link:label id="lab_ms_NonderivativeTradingLiabilitiesMember_label_en-US" xlink:label="lab_ms_NonderivativeTradingLiabilitiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Nonderivative Trading Liabilities [Member] </link:label>
<link:label id="lab_ms_NonderivativeTradingLiabilitiesMember_documentation_en-US" xlink:label="lab_ms_NonderivativeTradingLiabilitiesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Nonderivative Trading Liabilities [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_NonderivativeTradingLiabilitiesMember" xlink:href="ms-20231231.xsd#ms_NonderivativeTradingLiabilitiesMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_NonderivativeTradingLiabilitiesMember" xlink:to="lab_ms_NonderivativeTradingLiabilitiesMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_TierOneRiskBasedWellCapitalizedRequiredforCapitalAdequacytoRiskWeightedAssets_a8ca47fa-0ed8-4c66-9063-7e4c83fd5733_terseLabel_en-US" xlink:label="lab_ms_TierOneRiskBasedWellCapitalizedRequiredforCapitalAdequacytoRiskWeightedAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Tier 1 capital (as a percent) </link:label>
<link:label id="lab_ms_TierOneRiskBasedWellCapitalizedRequiredforCapitalAdequacytoRiskWeightedAssets_label_en-US" xlink:label="lab_ms_TierOneRiskBasedWellCapitalizedRequiredforCapitalAdequacytoRiskWeightedAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Tier One Risk Based Well-Capitalized Required for Capital Adequacy to Risk Weighted Assets </link:label>
<link:label id="lab_ms_TierOneRiskBasedWellCapitalizedRequiredforCapitalAdequacytoRiskWeightedAssets_documentation_en-US" xlink:label="lab_ms_TierOneRiskBasedWellCapitalizedRequiredforCapitalAdequacytoRiskWeightedAssets" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Tier One Risk Based Well-Capitalized Required for Capital Adequacy to Risk Weighted Assets </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_TierOneRiskBasedWellCapitalizedRequiredforCapitalAdequacytoRiskWeightedAssets" xlink:href="ms-20231231.xsd#ms_TierOneRiskBasedWellCapitalizedRequiredforCapitalAdequacytoRiskWeightedAssets"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_TierOneRiskBasedWellCapitalizedRequiredforCapitalAdequacytoRiskWeightedAssets" xlink:to="lab_ms_TierOneRiskBasedWellCapitalizedRequiredforCapitalAdequacytoRiskWeightedAssets" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DerivativeTable_5af91eca-bf85-44dc-85a5-c8358007bf3a_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative [Table] </link:label>
<link:label id="lab_us-gaap_DerivativeTable_label_en-US" xlink:label="lab_us-gaap_DerivativeTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative [Table] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeTable" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DerivativeTable"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeTable" xlink:to="lab_us-gaap_DerivativeTable" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit_697f85df-f888-44a0-9b62-bd9fcbc86370_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> U.S. state and local </link:label>
<link:label id="lab_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit_label_en-US" xlink:label="lab_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Deferred State and Local Income Tax Expense (Benefit) </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit" xlink:to="lab_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit" xlink:type="arc" order="1"/>
<link:label id="lab_dei_Security12bTitle_9bbcc244-fd86-4c2e-a0ce-b1fabc2a4664_terseLabel_en-US" xlink:label="lab_dei_Security12bTitle" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Title of 12(b) Security </link:label>
<link:label id="lab_dei_Security12bTitle_label_en-US" xlink:label="lab_dei_Security12bTitle" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Title of 12(b) Security </link:label>
<link:loc xlink:type="locator" xlink:label="loc_dei_Security12bTitle" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_Security12bTitle"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_Security12bTitle" xlink:to="lab_dei_Security12bTitle" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestAfterAllowanceForCreditLoss_f7ee3557-3b4f-4b3b-80e5-d1270733a1a7_terseLabel_en-US" xlink:label="lab_us-gaap_DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestAfterAllowanceForCreditLoss" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Amortized cost </link:label>
<link:label id="lab_us-gaap_DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestAfterAllowanceForCreditLoss_label_en-US" xlink:label="lab_us-gaap_DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestAfterAllowanceForCreditLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt Securities, Available-for-Sale, Amortized Cost, Excluding Accrued Interest, after Allowance for Credit Loss </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestAfterAllowanceForCreditLoss" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestAfterAllowanceForCreditLoss"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestAfterAllowanceForCreditLoss" xlink:to="lab_us-gaap_DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestAfterAllowanceForCreditLoss" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_InterestIncomeOperating_f3f9f0d4-3a14-4de8-90ad-a3e7739b54cd_terseLabel_en-US" xlink:label="lab_us-gaap_InterestIncomeOperating" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Investment securities </link:label>
<link:label id="lab_us-gaap_InterestIncomeOperating_label_en-US" xlink:label="lab_us-gaap_InterestIncomeOperating" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Interest Income, Operating </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestIncomeOperating" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_InterestIncomeOperating"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestIncomeOperating" xlink:to="lab_us-gaap_InterestIncomeOperating" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_TimeDepositMaturitiesYearTwo_079848e2-4f3a-46a8-97b9-244269068e0e_terseLabel_en-US" xlink:label="lab_us-gaap_TimeDepositMaturitiesYearTwo" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> 2025 </link:label>
<link:label id="lab_us-gaap_TimeDepositMaturitiesYearTwo_label_en-US" xlink:label="lab_us-gaap_TimeDepositMaturitiesYearTwo" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Time Deposit Maturities, Year Two </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_TimeDepositMaturitiesYearTwo" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_TimeDepositMaturitiesYearTwo"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TimeDepositMaturitiesYearTwo" xlink:to="lab_us-gaap_TimeDepositMaturitiesYearTwo" xlink:type="arc" order="1"/>
<link:label id="lab_ms_AdditionalDisclosuresAbstract_0f0144b7-d407-4900-afba-c7991952d161_terseLabel_en-US" xlink:label="lab_ms_AdditionalDisclosuresAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Additional Disclosures </link:label>
<link:label id="lab_ms_AdditionalDisclosuresAbstract_label_en-US" xlink:label="lab_ms_AdditionalDisclosuresAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Additional Disclosures [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_AdditionalDisclosuresAbstract" xlink:href="ms-20231231.xsd#ms_AdditionalDisclosuresAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_AdditionalDisclosuresAbstract" xlink:to="lab_ms_AdditionalDisclosuresAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_SubleaseIncome_0aea0409-4a52-4275-975c-c5dc19816870_negatedLabel_en-US" xlink:label="lab_us-gaap_SubleaseIncome" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Less: Sublease income </link:label>
<link:label id="lab_us-gaap_SubleaseIncome_label_en-US" xlink:label="lab_us-gaap_SubleaseIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Sublease Income </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_SubleaseIncome" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SubleaseIncome"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubleaseIncome" xlink:to="lab_us-gaap_SubleaseIncome" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_OperatingSegmentsMember_60142380-43c3-402f-8b4b-f815ec0ae1b7_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingSegmentsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Operating Segments </link:label>
<link:label id="lab_us-gaap_OperatingSegmentsMember_label_en-US" xlink:label="lab_us-gaap_OperatingSegmentsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Operating Segments [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingSegmentsMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OperatingSegmentsMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingSegmentsMember" xlink:to="lab_us-gaap_OperatingSegmentsMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_ScheduleOfOtherExpensesTransactionTaxesTableTextBlock_0ec5e864-ae12-4e9f-a8f8-7be494c14df9_terseLabel_en-US" xlink:label="lab_ms_ScheduleOfOtherExpensesTransactionTaxesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Other Expenses - Transaction Taxes </link:label>
<link:label id="lab_ms_ScheduleOfOtherExpensesTransactionTaxesTableTextBlock_label_en-US" xlink:label="lab_ms_ScheduleOfOtherExpensesTransactionTaxesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Other Expenses, Transaction Taxes [Table Text Block] </link:label>
<link:label id="lab_ms_ScheduleOfOtherExpensesTransactionTaxesTableTextBlock_documentation_en-US" xlink:label="lab_ms_ScheduleOfOtherExpensesTransactionTaxesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Other Expenses, Transaction Taxes </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_ScheduleOfOtherExpensesTransactionTaxesTableTextBlock" xlink:href="ms-20231231.xsd#ms_ScheduleOfOtherExpensesTransactionTaxesTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_ScheduleOfOtherExpensesTransactionTaxesTableTextBlock" xlink:to="lab_ms_ScheduleOfOtherExpensesTransactionTaxesTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_ms_ScheduleOfPerformanceBasedFeesTableTextBlock_1bfc58d9-e3c7-44ad-87c6-2c25475cdea9_terseLabel_en-US" xlink:label="lab_ms_ScheduleOfPerformanceBasedFeesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Net Cumulative Unrealized Carried Interest and Reduction of Fees due to Fee Waivers </link:label>
<link:label id="lab_ms_ScheduleOfPerformanceBasedFeesTableTextBlock_label_en-US" xlink:label="lab_ms_ScheduleOfPerformanceBasedFeesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Performance-based Fees [Table Text Block] </link:label>
<link:label id="lab_ms_ScheduleOfPerformanceBasedFeesTableTextBlock_documentation_en-US" xlink:label="lab_ms_ScheduleOfPerformanceBasedFeesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Tabular disclosure of performance-based fees, including information on fee waivers and net unrealized fees. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_ScheduleOfPerformanceBasedFeesTableTextBlock" xlink:href="ms-20231231.xsd#ms_ScheduleOfPerformanceBasedFeesTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_ScheduleOfPerformanceBasedFeesTableTextBlock" xlink:to="lab_ms_ScheduleOfPerformanceBasedFeesTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DividendsPreferredStock_933bca49-e319-49aa-b12b-01c4b48bf6f7_negatedLabel_en-US" xlink:label="lab_us-gaap_DividendsPreferredStock" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Preferred stock dividends </link:label>
<link:label id="lab_us-gaap_DividendsPreferredStock_4bcf0887-891d-48b6-a175-ed5ca2c62c3a_terseLabel_en-US" xlink:label="lab_us-gaap_DividendsPreferredStock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Preferred stock dividends </link:label>
<link:label id="lab_us-gaap_DividendsPreferredStock_label_en-US" xlink:label="lab_us-gaap_DividendsPreferredStock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Dividends, Preferred Stock </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DividendsPreferredStock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DividendsPreferredStock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DividendsPreferredStock" xlink:to="lab_us-gaap_DividendsPreferredStock" xlink:type="arc" order="1"/>
<link:label id="lab_ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesAvailableForGrantTableTextBlock_3ffedfa2-cb0c-4cdd-ac99-420d95f66597_terseLabel_en-US" xlink:label="lab_ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesAvailableForGrantTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Common Shares Available for Future Awards under Stock-Based Compensation Plans </link:label>
<link:label id="lab_ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesAvailableForGrantTableTextBlock_label_en-US" xlink:label="lab_ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesAvailableForGrantTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Share-based Compensation Arrangement by Share-based Payment Award, Shares Available for Grant [Table Text Block] </link:label>
<link:label id="lab_ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesAvailableForGrantTableTextBlock_documentation_en-US" xlink:label="lab_ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesAvailableForGrantTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Tabular disclosure of number of shares authorized for issuance under the plan. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesAvailableForGrantTableTextBlock" xlink:href="ms-20231231.xsd#ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesAvailableForGrantTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesAvailableForGrantTableTextBlock" xlink:to="lab_ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesAvailableForGrantTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_ms_BankingRegulationTierOneRiskBasedCapitalRatioRegulatoryMinimum_738e1ab7-22d9-4bdb-bd86-59189f4049e8_terseLabel_en-US" xlink:label="lab_ms_BankingRegulationTierOneRiskBasedCapitalRatioRegulatoryMinimum" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Regulatory Minimum (as a percent) </link:label>
<link:label id="lab_ms_BankingRegulationTierOneRiskBasedCapitalRatioRegulatoryMinimum_label_en-US" xlink:label="lab_ms_BankingRegulationTierOneRiskBasedCapitalRatioRegulatoryMinimum" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Banking Regulation, Tier One Risk-Based Capital Ratio, Regulatory Minimum </link:label>
<link:label id="lab_ms_BankingRegulationTierOneRiskBasedCapitalRatioRegulatoryMinimum_documentation_en-US" xlink:label="lab_ms_BankingRegulationTierOneRiskBasedCapitalRatioRegulatoryMinimum" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Banking Regulation, Tier One Risk-Based Capital Ratio, Regulatory Minimum </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_BankingRegulationTierOneRiskBasedCapitalRatioRegulatoryMinimum" xlink:href="ms-20231231.xsd#ms_BankingRegulationTierOneRiskBasedCapitalRatioRegulatoryMinimum"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_BankingRegulationTierOneRiskBasedCapitalRatioRegulatoryMinimum" xlink:to="lab_ms_BankingRegulationTierOneRiskBasedCapitalRatioRegulatoryMinimum" xlink:type="arc" order="1"/>
<link:label id="lab_dei_EntityInteractiveDataCurrent_e7c6e3ab-93e4-4e43-8a84-d20790f7b569_terseLabel_en-US" xlink:label="lab_dei_EntityInteractiveDataCurrent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Entity Interactive Data Current </link:label>
<link:label id="lab_dei_EntityInteractiveDataCurrent_label_en-US" xlink:label="lab_dei_EntityInteractiveDataCurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Entity Interactive Data Current </link:label>
<link:loc xlink:type="locator" xlink:label="loc_dei_EntityInteractiveDataCurrent" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityInteractiveDataCurrent"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityInteractiveDataCurrent" xlink:to="lab_dei_EntityInteractiveDataCurrent" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DisaggregationOfRevenueTable_b44d5db9-4fd5-4201-8f73-1fc1f3f937fd_terseLabel_en-US" xlink:label="lab_us-gaap_DisaggregationOfRevenueTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Disaggregation of Revenue [Table] </link:label>
<link:label id="lab_us-gaap_DisaggregationOfRevenueTable_label_en-US" xlink:label="lab_us-gaap_DisaggregationOfRevenueTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Disaggregation of Revenue [Table] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DisaggregationOfRevenueTable" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DisaggregationOfRevenueTable"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DisaggregationOfRevenueTable" xlink:to="lab_us-gaap_DisaggregationOfRevenueTable" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DebtSecuritiesAvailableForSaleTable_3b0a1fcb-cfb7-4aa7-9b60-df9aedd58854_terseLabel_en-US" xlink:label="lab_us-gaap_DebtSecuritiesAvailableForSaleTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt Securities, Available-for-sale [Table] </link:label>
<link:label id="lab_us-gaap_DebtSecuritiesAvailableForSaleTable_label_en-US" xlink:label="lab_us-gaap_DebtSecuritiesAvailableForSaleTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt Securities, Available-for-Sale [Table] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtSecuritiesAvailableForSaleTable" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DebtSecuritiesAvailableForSaleTable"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtSecuritiesAvailableForSaleTable" xlink:to="lab_us-gaap_DebtSecuritiesAvailableForSaleTable" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_BorrowingsMember_308606cd-9245-4889-af41-0df85fd46874_terseLabel_en-US" xlink:label="lab_us-gaap_BorrowingsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Borrowings </link:label>
<link:label id="lab_us-gaap_BorrowingsMember_label_en-US" xlink:label="lab_us-gaap_BorrowingsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Borrowings [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_BorrowingsMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_BorrowingsMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BorrowingsMember" xlink:to="lab_us-gaap_BorrowingsMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsConversionInPeriodFairValue_616024c6-1e2f-4093-b0ce-c4bdfb312a3f_terseLabel_en-US" xlink:label="lab_ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsConversionInPeriodFairValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Conversions to common stock </link:label>
<link:label id="lab_ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsConversionInPeriodFairValue_label_en-US" xlink:label="lab_ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsConversionInPeriodFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Conversion in Period, Fair Value </link:label>
<link:label id="lab_ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsConversionInPeriodFairValue_documentation_en-US" xlink:label="lab_ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsConversionInPeriodFairValue" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair value of share-based awards other than options converted to common stock. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsConversionInPeriodFairValue" xlink:href="ms-20231231.xsd#ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsConversionInPeriodFairValue"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsConversionInPeriodFairValue" xlink:to="lab_ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsConversionInPeriodFairValue" xlink:type="arc" order="1"/>
<link:label id="lab_ms_TranchedIndexAndBasketCreditDefaultSwapMember_c77cc0b5-7da1-4e92-a2e1-ca7cec3b6f6b_terseLabel_en-US" xlink:label="lab_ms_TranchedIndexAndBasketCreditDefaultSwapMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Tranched index and basket </link:label>
<link:label id="lab_ms_TranchedIndexAndBasketCreditDefaultSwapMember_label_en-US" xlink:label="lab_ms_TranchedIndexAndBasketCreditDefaultSwapMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Tranched Index and Basket Credit Default Swap [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_TranchedIndexAndBasketCreditDefaultSwapMember" xlink:href="ms-20231231.xsd#ms_TranchedIndexAndBasketCreditDefaultSwapMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_TranchedIndexAndBasketCreditDefaultSwapMember" xlink:to="lab_ms_TranchedIndexAndBasketCreditDefaultSwapMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_756fc0cc-ecdd-4b4b-b3b8-f5eb27a59edb_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Share-based Payment Awards </link:label>
<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:type="arc" order="1"/>
<link:label id="lab_ms_ScheduleOfMaximumPotentialPayoutNotionalOfCreditProtectionSoldTableTextBlock_46c0ffa7-f0fb-4485-af99-18fbecfce3a7_terseLabel_en-US" xlink:label="lab_ms_ScheduleOfMaximumPotentialPayoutNotionalOfCreditProtectionSoldTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Maximum Potential Payout/Notional of Credit Protection Sold </link:label>
<link:label id="lab_ms_ScheduleOfMaximumPotentialPayoutNotionalOfCreditProtectionSoldTableTextBlock_label_en-US" xlink:label="lab_ms_ScheduleOfMaximumPotentialPayoutNotionalOfCreditProtectionSoldTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Maximum Potential Payout/Notional of Credit Protection Sold [Table Text Block] </link:label>
<link:label id="lab_ms_ScheduleOfMaximumPotentialPayoutNotionalOfCreditProtectionSoldTableTextBlock_documentation_en-US" xlink:label="lab_ms_ScheduleOfMaximumPotentialPayoutNotionalOfCreditProtectionSoldTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Maximum Potential Payout/Notional of Credit Protection Sold </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_ScheduleOfMaximumPotentialPayoutNotionalOfCreditProtectionSoldTableTextBlock" xlink:href="ms-20231231.xsd#ms_ScheduleOfMaximumPotentialPayoutNotionalOfCreditProtectionSoldTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_ScheduleOfMaximumPotentialPayoutNotionalOfCreditProtectionSoldTableTextBlock" xlink:to="lab_ms_ScheduleOfMaximumPotentialPayoutNotionalOfCreditProtectionSoldTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DeferredTaxLiabilitiesGoodwillAndIntangibleAssets_7aac03e8-320a-4339-b045-58450ae047e2_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredTaxLiabilitiesGoodwillAndIntangibleAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Intangibles and goodwill </link:label>
<link:label id="lab_us-gaap_DeferredTaxLiabilitiesGoodwillAndIntangibleAssets_label_en-US" xlink:label="lab_us-gaap_DeferredTaxLiabilitiesGoodwillAndIntangibleAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Deferred Tax Liabilities, Goodwill and Intangible Assets </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxLiabilitiesGoodwillAndIntangibleAssets" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DeferredTaxLiabilitiesGoodwillAndIntangibleAssets"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredTaxLiabilitiesGoodwillAndIntangibleAssets" xlink:to="lab_us-gaap_DeferredTaxLiabilitiesGoodwillAndIntangibleAssets" xlink:type="arc" order="1"/>
<link:label id="lab_ms_MeasurementInputCrossCommodityCorrelationMember_7ee8c627-1748-4885-a363-e4de03b17f13_terseLabel_en-US" xlink:label="lab_ms_MeasurementInputCrossCommodityCorrelationMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Cross-Commodity Correlation </link:label>
<link:label id="lab_ms_MeasurementInputCrossCommodityCorrelationMember_label_en-US" xlink:label="lab_ms_MeasurementInputCrossCommodityCorrelationMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Measurement Input, Cross-Commodity Correlation [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_MeasurementInputCrossCommodityCorrelationMember" xlink:href="ms-20231231.xsd#ms_MeasurementInputCrossCommodityCorrelationMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_MeasurementInputCrossCommodityCorrelationMember" xlink:to="lab_ms_MeasurementInputCrossCommodityCorrelationMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_CreditDefaultSwapMember_c4482c54-f390-4b12-8022-231a18515ce6_terseLabel_en-US" xlink:label="lab_us-gaap_CreditDefaultSwapMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> CDS </link:label>
<link:label id="lab_us-gaap_CreditDefaultSwapMember_label_en-US" xlink:label="lab_us-gaap_CreditDefaultSwapMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Credit Default Swap [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CreditDefaultSwapMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CreditDefaultSwapMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CreditDefaultSwapMember" xlink:to="lab_us-gaap_CreditDefaultSwapMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_d17a568e-7875-49ca-8eb9-8e7f4b3d62c3_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> 2024 </link:label>
<link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Finite-Lived Intangible Asset, Expected Amortization, Year One </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths" xlink:type="arc" order="1"/>
<link:label id="lab_ms_ScheduleofEmployeeLoansTable_caccb2dc-387b-4f0f-be49-dc6d589bdcfb_terseLabel_en-US" xlink:label="lab_ms_ScheduleofEmployeeLoansTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Employee Loans [Table] </link:label>
<link:label id="lab_ms_ScheduleofEmployeeLoansTable_label_en-US" xlink:label="lab_ms_ScheduleofEmployeeLoansTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Employee Loans [Table] </link:label>
<link:label id="lab_ms_ScheduleofEmployeeLoansTable_documentation_en-US" xlink:label="lab_ms_ScheduleofEmployeeLoansTable" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Employee Loans [Table] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_ScheduleofEmployeeLoansTable" xlink:href="ms-20231231.xsd#ms_ScheduleofEmployeeLoansTable"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_ScheduleofEmployeeLoansTable" xlink:to="lab_ms_ScheduleofEmployeeLoansTable" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_InternalCreditAssessmentDomain_1c292701-c9e8-415b-8fa7-888be377c20a_terseLabel_en-US" xlink:label="lab_us-gaap_InternalCreditAssessmentDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Internal Credit Assessment [Domain] </link:label>
<link:label id="lab_us-gaap_InternalCreditAssessmentDomain_label_en-US" xlink:label="lab_us-gaap_InternalCreditAssessmentDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Internal Credit Assessment [Domain] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_InternalCreditAssessmentDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_InternalCreditAssessmentDomain"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InternalCreditAssessmentDomain" xlink:to="lab_us-gaap_InternalCreditAssessmentDomain" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_CommonStockSharesOutstanding_aa8707af-da1f-467d-aa38-8765879c86cc_verboseLabel_en-US" xlink:label="lab_us-gaap_CommonStockSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Common stock outstanding (in shares) </link:label>
<link:label id="lab_us-gaap_CommonStockSharesOutstanding_0f5f6f28-620e-48a5-9677-a2c8c4091560_periodStartLabel_en-US" xlink:label="lab_us-gaap_CommonStockSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Balance at beginning of period (in shares) </link:label>
<link:label id="lab_us-gaap_CommonStockSharesOutstanding_3318f2f9-80dc-4b17-b4f8-b150af8d0cfb_periodEndLabel_en-US" xlink:label="lab_us-gaap_CommonStockSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Balance at end of period (in shares) </link:label>
<link:label id="lab_us-gaap_CommonStockSharesOutstanding_label_en-US" xlink:label="lab_us-gaap_CommonStockSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Common Stock, Shares, Outstanding </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockSharesOutstanding" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CommonStockSharesOutstanding"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockSharesOutstanding" xlink:to="lab_us-gaap_CommonStockSharesOutstanding" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax_958e2cbc-4140-4da9-b83c-31a748fa0f28_terseLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Change in net unrealized gains (losses) on available-for-sale securities </link:label>
<link:label id="lab_us-gaap_OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax_label_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> OCI, Debt Securities, Available-for-Sale, Gain (Loss), after Adjustment and Tax </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax" xlink:to="lab_us-gaap_OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax" xlink:type="arc" order="1"/>
<link:label id="lab_ms_SecuredLendingFacilitiesMember_01aba478-ff48-447d-8dee-36e7e0489cb8_terseLabel_en-US" xlink:label="lab_ms_SecuredLendingFacilitiesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Secured lending facilities </link:label>
<link:label id="lab_ms_SecuredLendingFacilitiesMember_label_en-US" xlink:label="lab_ms_SecuredLendingFacilitiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Secured Lending Facilities [Member] </link:label>
<link:label id="lab_ms_SecuredLendingFacilitiesMember_documentation_en-US" xlink:label="lab_ms_SecuredLendingFacilitiesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Secured Lending Facilities </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_SecuredLendingFacilitiesMember" xlink:href="ms-20231231.xsd#ms_SecuredLendingFacilitiesMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_SecuredLendingFacilitiesMember" xlink:to="lab_ms_SecuredLendingFacilitiesMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_AdditionalCollateralAggregateFairValue_e6f8a0b0-1174-47e0-a43a-e99c09aa2805_terseLabel_en-US" xlink:label="lab_us-gaap_AdditionalCollateralAggregateFairValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Incremental collateral or termination payments upon potential future ratings downgrade </link:label>
<link:label id="lab_us-gaap_AdditionalCollateralAggregateFairValue_label_en-US" xlink:label="lab_us-gaap_AdditionalCollateralAggregateFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Additional Collateral, Aggregate Fair Value </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AdditionalCollateralAggregateFairValue" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AdditionalCollateralAggregateFairValue"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AdditionalCollateralAggregateFairValue" xlink:to="lab_us-gaap_AdditionalCollateralAggregateFairValue" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_RevenuesNetOfInterestExpense_16737b61-b2ea-45f3-9eee-f33e5608b95a_totalLabel_en-US" xlink:label="lab_us-gaap_RevenuesNetOfInterestExpense" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Net revenues </link:label>
<link:label id="lab_us-gaap_RevenuesNetOfInterestExpense_f7a7fdb2-c457-46ba-98ee-5f57b5a8dcfa_terseLabel_en-US" xlink:label="lab_us-gaap_RevenuesNetOfInterestExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Net revenues </link:label>
<link:label id="lab_us-gaap_RevenuesNetOfInterestExpense_label_en-US" xlink:label="lab_us-gaap_RevenuesNetOfInterestExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Revenues, Net of Interest Expense </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_RevenuesNetOfInterestExpense" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_RevenuesNetOfInterestExpense"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RevenuesNetOfInterestExpense" xlink:to="lab_us-gaap_RevenuesNetOfInterestExpense" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_TimeDepositMaturitiesAfterYearFive_85a94fe7-6278-434d-94d2-8d40782f3ce1_terseLabel_en-US" xlink:label="lab_us-gaap_TimeDepositMaturitiesAfterYearFive" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Thereafter </link:label>
<link:label id="lab_us-gaap_TimeDepositMaturitiesAfterYearFive_label_en-US" xlink:label="lab_us-gaap_TimeDepositMaturitiesAfterYearFive" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Time Deposit Maturities, after Year Five </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_TimeDepositMaturitiesAfterYearFive" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_TimeDepositMaturitiesAfterYearFive"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TimeDepositMaturitiesAfterYearFive" xlink:to="lab_us-gaap_TimeDepositMaturitiesAfterYearFive" xlink:type="arc" order="1"/>
<link:label id="lab_ms_ScheduleOfDefinedBenefitPlanAccumulatedBenefitObligationTableTextBlock_f9901869-042e-4100-905b-cb4bd1dc375a_terseLabel_en-US" xlink:label="lab_ms_ScheduleOfDefinedBenefitPlanAccumulatedBenefitObligationTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Accumulated Benefit Obligation </link:label>
<link:label id="lab_ms_ScheduleOfDefinedBenefitPlanAccumulatedBenefitObligationTableTextBlock_label_en-US" xlink:label="lab_ms_ScheduleOfDefinedBenefitPlanAccumulatedBenefitObligationTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Defined Benefit Plan, Accumulated Benefit Obligation [Table Text Block] </link:label>
<link:label id="lab_ms_ScheduleOfDefinedBenefitPlanAccumulatedBenefitObligationTableTextBlock_documentation_en-US" xlink:label="lab_ms_ScheduleOfDefinedBenefitPlanAccumulatedBenefitObligationTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Tabular disclosure of amount of actuarial present value of benefits attributed to employee service rendered. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_ScheduleOfDefinedBenefitPlanAccumulatedBenefitObligationTableTextBlock" xlink:href="ms-20231231.xsd#ms_ScheduleOfDefinedBenefitPlanAccumulatedBenefitObligationTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_ScheduleOfDefinedBenefitPlanAccumulatedBenefitObligationTableTextBlock" xlink:to="lab_ms_ScheduleOfDefinedBenefitPlanAccumulatedBenefitObligationTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_InvestmentsMember_4ee4ea89-af33-4e0f-bfa7-33e4b4c2d548_terseLabel_en-US" xlink:label="lab_us-gaap_InvestmentsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Investments </link:label>
<link:label id="lab_us-gaap_InvestmentsMember_label_en-US" xlink:label="lab_us-gaap_InvestmentsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Investments [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_InvestmentsMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_InvestmentsMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InvestmentsMember" xlink:to="lab_us-gaap_InvestmentsMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_HeldToMaturitySecuritiesAbstract_2b0b5ffb-98b6-47aa-ae76-30a843479cad_terseLabel_en-US" xlink:label="lab_us-gaap_HeldToMaturitySecuritiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> HTM securities </link:label>
<link:label id="lab_us-gaap_HeldToMaturitySecuritiesAbstract_label_en-US" xlink:label="lab_us-gaap_HeldToMaturitySecuritiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt Securities, Held-to-Maturity, Fair Value to Amortized Cost, after Allowance for Credit Loss [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_HeldToMaturitySecuritiesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_HeldToMaturitySecuritiesAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_HeldToMaturitySecuritiesAbstract" xlink:to="lab_us-gaap_HeldToMaturitySecuritiesAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DefinedBenefitPlanChangeInFairValueOfPlanAssetsRollForward_a0fa023f-a592-44ce-b4aa-f1af80ec8778_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanChangeInFairValueOfPlanAssetsRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Rollforward of fair value of plan assets </link:label>
<link:label id="lab_us-gaap_DefinedBenefitPlanChangeInFairValueOfPlanAssetsRollForward_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanChangeInFairValueOfPlanAssetsRollForward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanChangeInFairValueOfPlanAssetsRollForward" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DefinedBenefitPlanChangeInFairValueOfPlanAssetsRollForward"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanChangeInFairValueOfPlanAssetsRollForward" xlink:to="lab_us-gaap_DefinedBenefitPlanChangeInFairValueOfPlanAssetsRollForward" xlink:type="arc" order="1"/>
<link:label id="lab_ms_ScheduleOfAccruedInterestTableTextBlock_76ad55dd-0be7-433d-9247-b0be8d50232d_terseLabel_en-US" xlink:label="lab_ms_ScheduleOfAccruedInterestTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Accrued Interest </link:label>
<link:label id="lab_ms_ScheduleOfAccruedInterestTableTextBlock_label_en-US" xlink:label="lab_ms_ScheduleOfAccruedInterestTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Accrued Interest [Table Text Block] </link:label>
<link:label id="lab_ms_ScheduleOfAccruedInterestTableTextBlock_documentation_en-US" xlink:label="lab_ms_ScheduleOfAccruedInterestTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Accrued Interest </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_ScheduleOfAccruedInterestTableTextBlock" xlink:href="ms-20231231.xsd#ms_ScheduleOfAccruedInterestTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_ScheduleOfAccruedInterestTableTextBlock" xlink:to="lab_ms_ScheduleOfAccruedInterestTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_InterestIncomeAndInterestExpenseDisclosureTextBlock_2f2c40fc-5936-4d6c-98b9-26574f6b605a_terseLabel_en-US" xlink:label="lab_us-gaap_InterestIncomeAndInterestExpenseDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Interest Income and Interest Expense </link:label>
<link:label id="lab_us-gaap_InterestIncomeAndInterestExpenseDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_InterestIncomeAndInterestExpenseDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Interest Income and Interest Expense Disclosure [Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestIncomeAndInterestExpenseDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_InterestIncomeAndInterestExpenseDisclosureTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestIncomeAndInterestExpenseDisclosureTextBlock" xlink:to="lab_us-gaap_InterestIncomeAndInterestExpenseDisclosureTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_InternalInvestmentGradeMember_6c571deb-5b0a-432d-80cc-405e077b7e93_terseLabel_en-US" xlink:label="lab_us-gaap_InternalInvestmentGradeMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Investment grade </link:label>
<link:label id="lab_us-gaap_InternalInvestmentGradeMember_label_en-US" xlink:label="lab_us-gaap_InternalInvestmentGradeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Internal Investment Grade [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_InternalInvestmentGradeMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_InternalInvestmentGradeMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InternalInvestmentGradeMember" xlink:to="lab_us-gaap_InternalInvestmentGradeMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentResultingFromRealizedOrUnrealizedGainsLossesOnhedgesNetOfTax_9157c034-0cb8-425c-b49b-00c30ca71fa6_terseLabel_en-US" xlink:label="lab_ms_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentResultingFromRealizedOrUnrealizedGainsLossesOnhedgesNetOfTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Hedges, net of tax </link:label>
<link:label id="lab_ms_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentResultingFromRealizedOrUnrealizedGainsLossesOnhedgesNetOfTax_label_en-US" xlink:label="lab_ms_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentResultingFromRealizedOrUnrealizedGainsLossesOnhedgesNetOfTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment Resulting from Realized or Unrealized Gains (Losses) on Hedges, Net of Tax </link:label>
<link:label id="lab_ms_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentResultingFromRealizedOrUnrealizedGainsLossesOnhedgesNetOfTax_documentation_en-US" xlink:label="lab_ms_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentResultingFromRealizedOrUnrealizedGainsLossesOnhedgesNetOfTax" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment Resulting from Realized or Unrealized Gains (Losses) on Hedges, Net of Tax </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentResultingFromRealizedOrUnrealizedGainsLossesOnhedgesNetOfTax" xlink:href="ms-20231231.xsd#ms_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentResultingFromRealizedOrUnrealizedGainsLossesOnhedgesNetOfTax"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentResultingFromRealizedOrUnrealizedGainsLossesOnhedgesNetOfTax" xlink:to="lab_ms_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentResultingFromRealizedOrUnrealizedGainsLossesOnhedgesNetOfTax" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTaxAbstract_e75e52de-43f2-4965-9bdb-026b5417cbb7_terseLabel_en-US" xlink:label="lab_us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTaxAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Rollforward of Pre-tax AOCI </link:label>
<link:label id="lab_us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTaxAbstract_label_en-US" xlink:label="lab_us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTaxAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTaxAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTaxAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTaxAbstract" xlink:to="lab_us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTaxAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_ms_ScheduleOfDueFromEmployeesTableTextBlock_a627ab85-bd2e-4bb2-80fc-0db39fe5238e_terseLabel_en-US" xlink:label="lab_ms_ScheduleOfDueFromEmployeesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Employee Loans </link:label>
<link:label id="lab_ms_ScheduleOfDueFromEmployeesTableTextBlock_label_en-US" xlink:label="lab_ms_ScheduleOfDueFromEmployeesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Due from Employees [Table Text Block] </link:label>
<link:label id="lab_ms_ScheduleOfDueFromEmployeesTableTextBlock_documentation_en-US" xlink:label="lab_ms_ScheduleOfDueFromEmployeesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Tabular disclosure of due from Entity employees. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_ScheduleOfDueFromEmployeesTableTextBlock" xlink:href="ms-20231231.xsd#ms_ScheduleOfDueFromEmployeesTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_ScheduleOfDueFromEmployeesTableTextBlock" xlink:to="lab_ms_ScheduleOfDueFromEmployeesTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_ms_AllowanceForCreditLossAndExposures_f1e241cf-72c7-4f90-83fe-ecc5f81158e0_terseLabel_en-US" xlink:label="lab_ms_AllowanceForCreditLossAndExposures" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Total ending balance </link:label>
<link:label id="lab_ms_AllowanceForCreditLossAndExposures_label_en-US" xlink:label="lab_ms_AllowanceForCreditLossAndExposures" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Allowance for Credit Loss and Exposures </link:label>
<link:label id="lab_ms_AllowanceForCreditLossAndExposures_documentation_en-US" xlink:label="lab_ms_AllowanceForCreditLossAndExposures" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Allowance for Credit Loss and Exposures </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_AllowanceForCreditLossAndExposures" xlink:href="ms-20231231.xsd#ms_AllowanceForCreditLossAndExposures"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_AllowanceForCreditLossAndExposures" xlink:to="lab_ms_AllowanceForCreditLossAndExposures" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_CommonStockParOrStatedValuePerShare_daedc18a-586c-454b-9ac6-b62466285ce3_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockParOrStatedValuePerShare" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Common stock, par value (in dollars per share) </link:label>
<link:label id="lab_us-gaap_CommonStockParOrStatedValuePerShare_label_en-US" xlink:label="lab_us-gaap_CommonStockParOrStatedValuePerShare" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Common Stock, Par or Stated Value Per Share </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockParOrStatedValuePerShare" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CommonStockParOrStatedValuePerShare"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockParOrStatedValuePerShare" xlink:to="lab_us-gaap_CommonStockParOrStatedValuePerShare" xlink:type="arc" order="1"/>
<link:label id="lab_ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardPerformancePeriod_3de98783-de53-4f51-93c4-e870531948f2_terseLabel_en-US" xlink:label="lab_ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardPerformancePeriod" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Performance period </link:label>
<link:label id="lab_ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardPerformancePeriod_label_en-US" xlink:label="lab_ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardPerformancePeriod" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Share-based Compensation Arrangement by Share-based Payment Award, Award Performance Period </link:label>
<link:label id="lab_ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardPerformancePeriod_documentation_en-US" xlink:label="lab_ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardPerformancePeriod" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Share-based Compensation Arrangement by Share-based Payment Award, Award Performance Period </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardPerformancePeriod" xlink:href="ms-20231231.xsd#ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardPerformancePeriod"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardPerformancePeriod" xlink:to="lab_ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardPerformancePeriod" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_RepaymentsOfDebt_22691f2d-9b4d-41a2-abfc-1ba0f42feded_negatedLabel_en-US" xlink:label="lab_us-gaap_RepaymentsOfDebt" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Borrowings </link:label>
<link:label id="lab_us-gaap_RepaymentsOfDebt_65767988-b319-4f35-8295-1f1f61fb26cc_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_RepaymentsOfDebt" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Payments for borrowings </link:label>
<link:label id="lab_us-gaap_RepaymentsOfDebt_label_en-US" xlink:label="lab_us-gaap_RepaymentsOfDebt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Repayments of Debt </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_RepaymentsOfDebt" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_RepaymentsOfDebt"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RepaymentsOfDebt" xlink:to="lab_us-gaap_RepaymentsOfDebt" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DeferredTaxLiabilitiesAbstract_65f38bbe-f059-43a1-bb61-e8816916ee88_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredTaxLiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Gross deferred tax liabilities </link:label>
<link:label id="lab_us-gaap_DeferredTaxLiabilitiesAbstract_label_en-US" xlink:label="lab_us-gaap_DeferredTaxLiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Deferred Tax Liabilities, Gross [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxLiabilitiesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DeferredTaxLiabilitiesAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredTaxLiabilitiesAbstract" xlink:to="lab_us-gaap_DeferredTaxLiabilitiesAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateProjectedBenefitObligation_046fdef0-2cd7-4ed0-a00f-88418673fba5_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateProjectedBenefitObligation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Projected benefit obligation </link:label>
<link:label id="lab_us-gaap_DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateProjectedBenefitObligation_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateProjectedBenefitObligation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Defined Benefit Plan, Pension Plan with Accumulated Benefit Obligation in Excess of Plan Assets, Projected Benefit Obligation </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateProjectedBenefitObligation" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateProjectedBenefitObligation"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateProjectedBenefitObligation" xlink:to="lab_us-gaap_DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateProjectedBenefitObligation" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DerivativeCollateralRightToReclaimSecurities_b3b3c0cd-1513-4b44-a28f-41691a4adf9f_negatedLabel_en-US" xlink:label="lab_us-gaap_DerivativeCollateralRightToReclaimSecurities" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Amounts not offset against financial instruments collateral </link:label>
<link:label id="lab_us-gaap_DerivativeCollateralRightToReclaimSecurities_label_en-US" xlink:label="lab_us-gaap_DerivativeCollateralRightToReclaimSecurities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative Liability, Subject to Master Netting Arrangement, Collateral, Right to Reclaim Security Not Offset </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeCollateralRightToReclaimSecurities" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DerivativeCollateralRightToReclaimSecurities"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeCollateralRightToReclaimSecurities" xlink:to="lab_us-gaap_DerivativeCollateralRightToReclaimSecurities" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_CurrentIncomeTaxExpenseBenefit_6c103f8d-ea4f-411a-b314-9f60a0db8a11_totalLabel_en-US" xlink:label="lab_us-gaap_CurrentIncomeTaxExpenseBenefit" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Current income tax expense (benefit) </link:label>
<link:label id="lab_us-gaap_CurrentIncomeTaxExpenseBenefit_label_en-US" xlink:label="lab_us-gaap_CurrentIncomeTaxExpenseBenefit" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Current Income Tax Expense (Benefit) </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CurrentIncomeTaxExpenseBenefit" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CurrentIncomeTaxExpenseBenefit"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CurrentIncomeTaxExpenseBenefit" xlink:to="lab_us-gaap_CurrentIncomeTaxExpenseBenefit" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_TradingLiabilitiesFairValueDisclosure_7fe05bf0-14f9-4b9b-9e31-c4984d50ea86_terseLabel_en-US" xlink:label="lab_us-gaap_TradingLiabilitiesFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Trading liabilities </link:label>
<link:label id="lab_us-gaap_TradingLiabilitiesFairValueDisclosure_label_en-US" xlink:label="lab_us-gaap_TradingLiabilitiesFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Trading Liabilities, Fair Value Disclosure </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_TradingLiabilitiesFairValueDisclosure" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_TradingLiabilitiesFairValueDisclosure"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TradingLiabilitiesFairValueDisclosure" xlink:to="lab_us-gaap_TradingLiabilitiesFairValueDisclosure" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FairValueMeasurementFrequencyDomain_c22598c5-bcfc-42cb-931d-767dc4676fa6_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueMeasurementFrequencyDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Measurement Frequency [Domain] </link:label>
<link:label id="lab_us-gaap_FairValueMeasurementFrequencyDomain_label_en-US" xlink:label="lab_us-gaap_FairValueMeasurementFrequencyDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Measurement Frequency [Domain] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueMeasurementFrequencyDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueMeasurementFrequencyDomain"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueMeasurementFrequencyDomain" xlink:to="lab_us-gaap_FairValueMeasurementFrequencyDomain" xlink:type="arc" order="1"/>
<link:label id="lab_ms_PresentationOfAllowanceForCreditLossAndProvisionForCreditLossesTableTextBlock_672f3691-1b6f-4d9e-8e8c-736dcf25cbd6_terseLabel_en-US" xlink:label="lab_ms_PresentationOfAllowanceForCreditLossAndProvisionForCreditLossesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Presentation of ACL and Provision for Credit Losses </link:label>
<link:label id="lab_ms_PresentationOfAllowanceForCreditLossAndProvisionForCreditLossesTableTextBlock_label_en-US" xlink:label="lab_ms_PresentationOfAllowanceForCreditLossAndProvisionForCreditLossesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Presentation of Allowance for Credit Loss and Provision for Credit Losses [Table Text Block] </link:label>
<link:label id="lab_ms_PresentationOfAllowanceForCreditLossAndProvisionForCreditLossesTableTextBlock_documentation_en-US" xlink:label="lab_ms_PresentationOfAllowanceForCreditLossAndProvisionForCreditLossesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Presentation of Allowance for Credit Loss and Provision for Credit Losses </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_PresentationOfAllowanceForCreditLossAndProvisionForCreditLossesTableTextBlock" xlink:href="ms-20231231.xsd#ms_PresentationOfAllowanceForCreditLossAndProvisionForCreditLossesTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_PresentationOfAllowanceForCreditLossAndProvisionForCreditLossesTableTextBlock" xlink:to="lab_ms_PresentationOfAllowanceForCreditLossAndProvisionForCreditLossesTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_PreferredStockDividendsPerShareDeclared_2c1ac70f-dc65-4215-8e32-397bfd2a90e7_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockDividendsPerShareDeclared" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Preferred stock dividend declared (in dollars per share) </link:label>
<link:label id="lab_us-gaap_PreferredStockDividendsPerShareDeclared_label_en-US" xlink:label="lab_us-gaap_PreferredStockDividendsPerShareDeclared" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Preferred Stock, Dividends Per Share, Declared </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_PreferredStockDividendsPerShareDeclared" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PreferredStockDividendsPerShareDeclared"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PreferredStockDividendsPerShareDeclared" xlink:to="lab_us-gaap_PreferredStockDividendsPerShareDeclared" xlink:type="arc" order="1"/>
<link:label id="lab_ms_DeferredCompensationArrangementwithIndividualReturnonReferencedInvestmentsOther_0ec9662b-840a-4b00-9d99-22bc96d2f412_terseLabel_en-US" xlink:label="lab_ms_DeferredCompensationArrangementwithIndividualReturnonReferencedInvestmentsOther" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Return on referenced investments </link:label>
<link:label id="lab_ms_DeferredCompensationArrangementwithIndividualReturnonReferencedInvestmentsOther_label_en-US" xlink:label="lab_ms_DeferredCompensationArrangementwithIndividualReturnonReferencedInvestmentsOther" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Deferred Compensation Arrangement with Individual, Return on Referenced Investments, Other </link:label>
<link:label id="lab_ms_DeferredCompensationArrangementwithIndividualReturnonReferencedInvestmentsOther_documentation_en-US" xlink:label="lab_ms_DeferredCompensationArrangementwithIndividualReturnonReferencedInvestmentsOther" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Deferred Compensation Arrangement with Individual, Return on Referenced Investments, Other </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_DeferredCompensationArrangementwithIndividualReturnonReferencedInvestmentsOther" xlink:href="ms-20231231.xsd#ms_DeferredCompensationArrangementwithIndividualReturnonReferencedInvestmentsOther"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_DeferredCompensationArrangementwithIndividualReturnonReferencedInvestmentsOther" xlink:to="lab_ms_DeferredCompensationArrangementwithIndividualReturnonReferencedInvestmentsOther" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_PropertyPlantAndEquipmentTypeDomain_5279322b-8fed-4a9a-8444-38648ad617cf_terseLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Property, Plant and Equipment, Type [Domain] </link:label>
<link:label id="lab_us-gaap_PropertyPlantAndEquipmentTypeDomain_label_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Long-Lived Tangible Asset [Domain] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PropertyPlantAndEquipmentTypeDomain"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:to="lab_us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DefinedBenefitPlanWeightedAverageAssumptionsUsedInCalculatingNetPeriodicBenefitCostAbstract_a3ae1131-b454-4344-9a1a-751750173f97_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanWeightedAverageAssumptionsUsedInCalculatingNetPeriodicBenefitCostAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Weighted Average Assumptions Used to Determine Net Periodic Benefit Expense (Income) </link:label>
<link:label id="lab_us-gaap_DefinedBenefitPlanWeightedAverageAssumptionsUsedInCalculatingNetPeriodicBenefitCostAbstract_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanWeightedAverageAssumptionsUsedInCalculatingNetPeriodicBenefitCostAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanWeightedAverageAssumptionsUsedInCalculatingNetPeriodicBenefitCostAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DefinedBenefitPlanWeightedAverageAssumptionsUsedInCalculatingNetPeriodicBenefitCostAbstract"/>
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<link:label id="lab_ms_ScheduleOfOperatingLeasesStatementOfFinancialPositionTableTextBlock_0f0ed821-8265-48a0-b286-e6ee30da6e0a_terseLabel_en-US" xlink:label="lab_ms_ScheduleOfOperatingLeasesStatementOfFinancialPositionTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Balance Sheet Amounts Related to Leases </link:label>
<link:label id="lab_ms_ScheduleOfOperatingLeasesStatementOfFinancialPositionTableTextBlock_label_en-US" xlink:label="lab_ms_ScheduleOfOperatingLeasesStatementOfFinancialPositionTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Operating Leases, Statement of Financial Position [Table Text Block] </link:label>
<link:label id="lab_ms_ScheduleOfOperatingLeasesStatementOfFinancialPositionTableTextBlock_documentation_en-US" xlink:label="lab_ms_ScheduleOfOperatingLeasesStatementOfFinancialPositionTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Tabular disclosure of the presentation of operating leases on the statement of financial position. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_ScheduleOfOperatingLeasesStatementOfFinancialPositionTableTextBlock" xlink:href="ms-20231231.xsd#ms_ScheduleOfOperatingLeasesStatementOfFinancialPositionTableTextBlock"/>
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<link:label id="lab_us-gaap_MarketableSecuritiesPolicy_9fb1fb87-90e2-4cd6-9ebd-1d005a4731ba_terseLabel_en-US" xlink:label="lab_us-gaap_MarketableSecuritiesPolicy" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> AFS Investment Securities </link:label>
<link:label id="lab_us-gaap_MarketableSecuritiesPolicy_label_en-US" xlink:label="lab_us-gaap_MarketableSecuritiesPolicy" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Marketable Securities, Policy [Policy Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_MarketableSecuritiesPolicy" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_MarketableSecuritiesPolicy"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MarketableSecuritiesPolicy" xlink:to="lab_us-gaap_MarketableSecuritiesPolicy" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearTwo_b9c0a32f-5de5-4f0f-a2d0-6aee1edbe939_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearTwo" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> 2025 </link:label>
<link:label id="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearTwo_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearTwo" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Defined Benefit Plan, Expected Future Benefit Payment, Year Two </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearTwo" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearTwo"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearTwo" xlink:to="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearTwo" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_InterestAndFeeIncomeLoansAndLeases_6d3a9401-38ce-488b-8c50-b7f8919f12aa_terseLabel_en-US" xlink:label="lab_us-gaap_InterestAndFeeIncomeLoansAndLeases" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Loans </link:label>
<link:label id="lab_us-gaap_InterestAndFeeIncomeLoansAndLeases_label_en-US" xlink:label="lab_us-gaap_InterestAndFeeIncomeLoansAndLeases" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Interest and Fee Income, Loans and Leases </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestAndFeeIncomeLoansAndLeases" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_InterestAndFeeIncomeLoansAndLeases"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestAndFeeIncomeLoansAndLeases" xlink:to="lab_us-gaap_InterestAndFeeIncomeLoansAndLeases" xlink:type="arc" order="1"/>
<link:label id="lab_ms_MitsubishiUfjFinancialGroupIncMember_4d9947ea-79d7-44b4-9b2f-2fe7ad8265c0_terseLabel_en-US" xlink:label="lab_ms_MitsubishiUfjFinancialGroupIncMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> MUFG </link:label>
<link:label id="lab_ms_MitsubishiUfjFinancialGroupIncMember_label_en-US" xlink:label="lab_ms_MitsubishiUfjFinancialGroupIncMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Mitsubishi UFJ Financial Group Inc [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_MitsubishiUfjFinancialGroupIncMember" xlink:href="ms-20231231.xsd#ms_MitsubishiUfjFinancialGroupIncMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_MitsubishiUfjFinancialGroupIncMember" xlink:to="lab_ms_MitsubishiUfjFinancialGroupIncMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_NoninterestExpenseAbstract_2e321d89-ddc9-42be-8554-7c90d4ddaa7a_terseLabel_en-US" xlink:label="lab_us-gaap_NoninterestExpenseAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Non-interest expenses </link:label>
<link:label id="lab_us-gaap_NoninterestExpenseAbstract_label_en-US" xlink:label="lab_us-gaap_NoninterestExpenseAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Noninterest Expense [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_NoninterestExpenseAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_NoninterestExpenseAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NoninterestExpenseAbstract" xlink:to="lab_us-gaap_NoninterestExpenseAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_ms_FICOScoreBetween680and739Member_cfd54bc4-dcca-4b78-ac38-a078d2e91495_terseLabel_en-US" xlink:label="lab_ms_FICOScoreBetween680and739Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> 680-739 </link:label>
<link:label id="lab_ms_FICOScoreBetween680and739Member_label_en-US" xlink:label="lab_ms_FICOScoreBetween680and739Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> FICO Score, Between 680 and 739 [Member] </link:label>
<link:label id="lab_ms_FICOScoreBetween680and739Member_documentation_en-US" xlink:label="lab_ms_FICOScoreBetween680and739Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> FICO Score, Between 680 and 739 [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_FICOScoreBetween680and739Member" xlink:href="ms-20231231.xsd#ms_FICOScoreBetween680and739Member"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_FICOScoreBetween680and739Member" xlink:to="lab_ms_FICOScoreBetween680and739Member" xlink:type="arc" order="1"/>
<link:label id="lab_ms_ValuationTechniqueWarehouseModelMember_39ed60f4-eadd-4222-8d71-011c8b7c8ec7_terseLabel_en-US" xlink:label="lab_ms_ValuationTechniqueWarehouseModelMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Warehouse Model </link:label>
<link:label id="lab_ms_ValuationTechniqueWarehouseModelMember_label_en-US" xlink:label="lab_ms_ValuationTechniqueWarehouseModelMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Valuation Technique, Warehouse Model [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_ValuationTechniqueWarehouseModelMember" xlink:href="ms-20231231.xsd#ms_ValuationTechniqueWarehouseModelMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_ValuationTechniqueWarehouseModelMember" xlink:to="lab_ms_ValuationTechniqueWarehouseModelMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_ScheduleOfProtectionPurchasedWithCDSTableTextBlock_b76f5581-98d5-4520-b075-ee8fa48f728a_terseLabel_en-US" xlink:label="lab_ms_ScheduleOfProtectionPurchasedWithCDSTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Protection Purchased with CDS </link:label>
<link:label id="lab_ms_ScheduleOfProtectionPurchasedWithCDSTableTextBlock_label_en-US" xlink:label="lab_ms_ScheduleOfProtectionPurchasedWithCDSTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Protection Purchased with CDS [Table Text Block] </link:label>
<link:label id="lab_ms_ScheduleOfProtectionPurchasedWithCDSTableTextBlock_documentation_en-US" xlink:label="lab_ms_ScheduleOfProtectionPurchasedWithCDSTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Protection Purchased with CDS </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_ScheduleOfProtectionPurchasedWithCDSTableTextBlock" xlink:href="ms-20231231.xsd#ms_ScheduleOfProtectionPurchasedWithCDSTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_ScheduleOfProtectionPurchasedWithCDSTableTextBlock" xlink:to="lab_ms_ScheduleOfProtectionPurchasedWithCDSTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_PreferredStockMember_bd130011-8503-43e4-ba6b-82204703a441_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Preferred Stock </link:label>
<link:label id="lab_us-gaap_PreferredStockMember_label_en-US" xlink:label="lab_us-gaap_PreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Preferred Stock [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_PreferredStockMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PreferredStockMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PreferredStockMember" xlink:to="lab_us-gaap_PreferredStockMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossRecovery_f115235d-a176-47c3-af45-6681c2ef0595_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossRecovery" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Recoveries </link:label>
<link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossRecovery_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossRecovery" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Recovery </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossRecovery" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossRecovery"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossRecovery" xlink:to="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossRecovery" xlink:type="arc" order="1"/>
<link:label id="lab_ms_IntangibleAssetsMember_1d2fb43c-887c-4d6d-935b-7ddab140a2b7_terseLabel_en-US" xlink:label="lab_ms_IntangibleAssetsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Intangibles </link:label>
<link:label id="lab_ms_IntangibleAssetsMember_label_en-US" xlink:label="lab_ms_IntangibleAssetsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Intangible Assets [Member] </link:label>
<link:label id="lab_ms_IntangibleAssetsMember_documentation_en-US" xlink:label="lab_ms_IntangibleAssetsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Intangible Assets [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_IntangibleAssetsMember" xlink:href="ms-20231231.xsd#ms_IntangibleAssetsMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_IntangibleAssetsMember" xlink:to="lab_ms_IntangibleAssetsMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DefinedBenefitPlanNetPeriodicBenefitCost_afc01890-ef5c-419f-926f-7e0bdb5eafbb_totalLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanNetPeriodicBenefitCost" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Net periodic benefit expense </link:label>
<link:label id="lab_us-gaap_DefinedBenefitPlanNetPeriodicBenefitCost_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanNetPeriodicBenefitCost" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Defined Benefit Plan, Net Periodic Benefit Cost (Credit) </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanNetPeriodicBenefitCost" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DefinedBenefitPlanNetPeriodicBenefitCost"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanNetPeriodicBenefitCost" xlink:to="lab_us-gaap_DefinedBenefitPlanNetPeriodicBenefitCost" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_TradingSecuritiesDebt_5e115409-6da1-4d31-92c9-b2a03b9a14ba_terseLabel_en-US" xlink:label="lab_us-gaap_TradingSecuritiesDebt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Trading assets </link:label>
<link:label id="lab_us-gaap_TradingSecuritiesDebt_96e1f1bc-badf-4066-850a-b409448937ba_verboseLabel_en-US" xlink:label="lab_us-gaap_TradingSecuritiesDebt" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt securities, trading assets </link:label>
<link:label id="lab_us-gaap_TradingSecuritiesDebt_label_en-US" xlink:label="lab_us-gaap_TradingSecuritiesDebt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt Securities, Trading </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_TradingSecuritiesDebt" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_TradingSecuritiesDebt"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TradingSecuritiesDebt" xlink:to="lab_us-gaap_TradingSecuritiesDebt" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_BankingRegulationCapitalConservationBufferAbstract_c5d101ac-4177-4788-9ea7-d048aadf204f_terseLabel_en-US" xlink:label="lab_us-gaap_BankingRegulationCapitalConservationBufferAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Capital buffers </link:label>
<link:label id="lab_us-gaap_BankingRegulationCapitalConservationBufferAbstract_label_en-US" xlink:label="lab_us-gaap_BankingRegulationCapitalConservationBufferAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Banking Regulation, Capital Conservation Buffer [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_BankingRegulationCapitalConservationBufferAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_BankingRegulationCapitalConservationBufferAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BankingRegulationCapitalConservationBufferAbstract" xlink:to="lab_us-gaap_BankingRegulationCapitalConservationBufferAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_CreditDerivativesContractTypeDomain_925c07a3-2da6-4649-89b6-c2772e1d9d5c_terseLabel_en-US" xlink:label="lab_us-gaap_CreditDerivativesContractTypeDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Credit Derivatives Contract Type [Domain] </link:label>
<link:label id="lab_us-gaap_CreditDerivativesContractTypeDomain_label_en-US" xlink:label="lab_us-gaap_CreditDerivativesContractTypeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Credit Derivatives Contract Type [Domain] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CreditDerivativesContractTypeDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CreditDerivativesContractTypeDomain"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CreditDerivativesContractTypeDomain" xlink:to="lab_us-gaap_CreditDerivativesContractTypeDomain" xlink:type="arc" order="1"/>
<link:label id="lab_ms_DefinedBenefitPlanPercentageOfAssetsIncludedInTotalPlanAssets_e90bef69-d567-4228-aeee-fde266dcec64_terseLabel_en-US" xlink:label="lab_ms_DefinedBenefitPlanPercentageOfAssetsIncludedInTotalPlanAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Proportion of assets as to total pension plan assets (as a percent) </link:label>
<link:label id="lab_ms_DefinedBenefitPlanPercentageOfAssetsIncludedInTotalPlanAssets_label_en-US" xlink:label="lab_ms_DefinedBenefitPlanPercentageOfAssetsIncludedInTotalPlanAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Defined Benefit Plan, Percentage of Assets Included in Total Plan Assets </link:label>
<link:label id="lab_ms_DefinedBenefitPlanPercentageOfAssetsIncludedInTotalPlanAssets_documentation_en-US" xlink:label="lab_ms_DefinedBenefitPlanPercentageOfAssetsIncludedInTotalPlanAssets" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Percentage of assets as to total pension plan assets. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_DefinedBenefitPlanPercentageOfAssetsIncludedInTotalPlanAssets" xlink:href="ms-20231231.xsd#ms_DefinedBenefitPlanPercentageOfAssetsIncludedInTotalPlanAssets"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_DefinedBenefitPlanPercentageOfAssetsIncludedInTotalPlanAssets" xlink:to="lab_ms_DefinedBenefitPlanPercentageOfAssetsIncludedInTotalPlanAssets" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_EarningsPerSharePolicyTextBlock_7606353a-7bc2-4690-914c-24bd86ff76f6_terseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerSharePolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Earnings per Common Share </link:label>
<link:label id="lab_us-gaap_EarningsPerSharePolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_EarningsPerSharePolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Earnings Per Share, Policy [Policy Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_EarningsPerSharePolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_EarningsPerSharePolicyTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EarningsPerSharePolicyTextBlock" xlink:to="lab_us-gaap_EarningsPerSharePolicyTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock_05df96f4-cba0-4c8b-a339-63673d679caa_terseLabel_en-US" xlink:label="lab_us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Goodwill and Intangible Assets </link:label>
<link:label id="lab_us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Goodwill and Intangible Assets Disclosure [Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock" xlink:to="lab_us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_ms_LesseeOperatingLeaseLeaseNotyetCommenced_140b2741-33d8-4c94-a498-8f92e38c22d7_terseLabel_en-US" xlink:label="lab_ms_LesseeOperatingLeaseLeaseNotyetCommenced" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Committed leases not yet commenced </link:label>
<link:label id="lab_ms_LesseeOperatingLeaseLeaseNotyetCommenced_label_en-US" xlink:label="lab_ms_LesseeOperatingLeaseLeaseNotyetCommenced" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Lessee, Operating Lease, Lease Not yet Commenced </link:label>
<link:label id="lab_ms_LesseeOperatingLeaseLeaseNotyetCommenced_documentation_en-US" xlink:label="lab_ms_LesseeOperatingLeaseLeaseNotyetCommenced" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Lessee, Operating Lease, Lease Not yet Commenced </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_LesseeOperatingLeaseLeaseNotyetCommenced" xlink:href="ms-20231231.xsd#ms_LesseeOperatingLeaseLeaseNotyetCommenced"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_LesseeOperatingLeaseLeaseNotyetCommenced" xlink:to="lab_ms_LesseeOperatingLeaseLeaseNotyetCommenced" xlink:type="arc" order="1"/>
<link:label id="lab_ms_FinancingReceivableLoansHeldForInvestmentByLoanTypeToTotalLoansHeldForInvestmentPercent_7ede23df-01d3-4545-9876-dad37af981c5_terseLabel_en-US" xlink:label="lab_ms_FinancingReceivableLoansHeldForInvestmentByLoanTypeToTotalLoansHeldForInvestmentPercent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Percent of loans to total loans </link:label>
<link:label id="lab_ms_FinancingReceivableLoansHeldForInvestmentByLoanTypeToTotalLoansHeldForInvestmentPercent_label_en-US" xlink:label="lab_ms_FinancingReceivableLoansHeldForInvestmentByLoanTypeToTotalLoansHeldForInvestmentPercent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financing Receivable, Loans Held for Investment by Loan Type to Total Loans Held for Investment, Percent </link:label>
<link:label id="lab_ms_FinancingReceivableLoansHeldForInvestmentByLoanTypeToTotalLoansHeldForInvestmentPercent_documentation_en-US" xlink:label="lab_ms_FinancingReceivableLoansHeldForInvestmentByLoanTypeToTotalLoansHeldForInvestmentPercent" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financing Receivable, Loans Held for Investment by Loan Type to Total Loans Held for Investment </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_FinancingReceivableLoansHeldForInvestmentByLoanTypeToTotalLoansHeldForInvestmentPercent" xlink:href="ms-20231231.xsd#ms_FinancingReceivableLoansHeldForInvestmentByLoanTypeToTotalLoansHeldForInvestmentPercent"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_FinancingReceivableLoansHeldForInvestmentByLoanTypeToTotalLoansHeldForInvestmentPercent" xlink:to="lab_ms_FinancingReceivableLoansHeldForInvestmentByLoanTypeToTotalLoansHeldForInvestmentPercent" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ConcentrationRiskPercentage1_a288187b-e6d8-4e0b-9262-2fc794c132d7_terseLabel_en-US" xlink:label="lab_us-gaap_ConcentrationRiskPercentage1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Concentration risk (as a percent) </link:label>
<link:label id="lab_us-gaap_ConcentrationRiskPercentage1_label_en-US" xlink:label="lab_us-gaap_ConcentrationRiskPercentage1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Concentration Risk, Percentage </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ConcentrationRiskPercentage1" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ConcentrationRiskPercentage1"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ConcentrationRiskPercentage1" xlink:to="lab_us-gaap_ConcentrationRiskPercentage1" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_CurrentIncomeTaxExpenseBenefitContinuingOperationsAbstract_af669ba5-1b4c-4b69-858e-f1a2d3b51742_terseLabel_en-US" xlink:label="lab_us-gaap_CurrentIncomeTaxExpenseBenefitContinuingOperationsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Current </link:label>
<link:label id="lab_us-gaap_CurrentIncomeTaxExpenseBenefitContinuingOperationsAbstract_label_en-US" xlink:label="lab_us-gaap_CurrentIncomeTaxExpenseBenefitContinuingOperationsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Current Income Tax Expense (Benefit), Continuing Operations [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CurrentIncomeTaxExpenseBenefitContinuingOperationsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CurrentIncomeTaxExpenseBenefitContinuingOperationsAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CurrentIncomeTaxExpenseBenefitContinuingOperationsAbstract" xlink:to="lab_us-gaap_CurrentIncomeTaxExpenseBenefitContinuingOperationsAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock_1aa53fc2-704a-4744-aea0-b6bb86532838_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Accumulated Other Comprehensive Income (Loss) </link:label>
<link:label id="lab_us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock" xlink:to="lab_us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_b0f64850-dc02-46bd-9c89-57cae8cb14e5_terseLabel_en-US" xlink:label="lab_us-gaap_EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> U.S. state and local income taxes, net of U.S. federal income tax benefits </link:label>
<link:label id="lab_us-gaap_EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_label_en-US" xlink:label="lab_us-gaap_EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Percent </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes" xlink:to="lab_us-gaap_EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_USTreasuryAndGovernmentMember_a9633dd9-472c-4ea1-9bdc-92181f3eafc6_terseLabel_en-US" xlink:label="lab_us-gaap_USTreasuryAndGovernmentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> U.S. Treasury and agency securities </link:label>
<link:label id="lab_us-gaap_USTreasuryAndGovernmentMember_a200301f-fc17-48df-a300-402685c9b68a_verboseLabel_en-US" xlink:label="lab_us-gaap_USTreasuryAndGovernmentMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> U.S. government and agency securities </link:label>
<link:label id="lab_us-gaap_USTreasuryAndGovernmentMember_83587688-e098-4f86-824f-88bde0b48343_netLabel_en-US" xlink:label="lab_us-gaap_USTreasuryAndGovernmentMember" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> U.S. government and agency securities </link:label>
<link:label id="lab_us-gaap_USTreasuryAndGovernmentMember_label_en-US" xlink:label="lab_us-gaap_USTreasuryAndGovernmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> US Treasury and Government [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_USTreasuryAndGovernmentMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_USTreasuryAndGovernmentMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_USTreasuryAndGovernmentMember" xlink:to="lab_us-gaap_USTreasuryAndGovernmentMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities_a7840727-1b78-4490-b580-aeeafd90ec7c_totalLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Net cash provided by (used for) operating activities </link:label>
<link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Net Cash Provided by (Used in) Operating Activities </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:to="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:type="arc" order="1"/>
<link:label id="lab_ms_Payables_7cfdce87-ab58-4648-8c90-9f1359221ec6_terseLabel_en-US" xlink:label="lab_ms_Payables" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Customer and other payables </link:label>
<link:label id="lab_ms_Payables_label_en-US" xlink:label="lab_ms_Payables" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Payables </link:label>
<link:label id="lab_ms_Payables_documentation_en-US" xlink:label="lab_ms_Payables" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Payables are amounts due to various parties arising from transactions between the entity and these parties: customers; brokers, dealers and clearing organizations; and interest and dividends. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_Payables" xlink:href="ms-20231231.xsd#ms_Payables"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_Payables" xlink:to="lab_ms_Payables" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_StatementClassOfStockAxis_6cf26d90-44fc-4088-8c85-b0103a3d4915_terseLabel_en-US" xlink:label="lab_us-gaap_StatementClassOfStockAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Class of Stock [Axis] </link:label>
<link:label id="lab_us-gaap_StatementClassOfStockAxis_label_en-US" xlink:label="lab_us-gaap_StatementClassOfStockAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Class of Stock [Axis] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementClassOfStockAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_StatementClassOfStockAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementClassOfStockAxis" xlink:to="lab_us-gaap_StatementClassOfStockAxis" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_EquityMethodInvestmentsDisclosureTextBlock_1e559efe-3ae1-43ec-ab6a-4a7bc54cbe0b_terseLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentsDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other Assets - Equity Method Investments and Leases </link:label>
<link:label id="lab_us-gaap_EquityMethodInvestmentsDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentsDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Equity Method Investments and Joint Ventures Disclosure [Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_EquityMethodInvestmentsDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_EquityMethodInvestmentsDisclosureTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityMethodInvestmentsDisclosureTextBlock" xlink:to="lab_us-gaap_EquityMethodInvestmentsDisclosureTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedAbstract_e00484e0-6496-410a-a784-62da1448195b_terseLabel_en-US" xlink:label="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> To be recognized in: </link:label>
<link:label id="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedAbstract_label_en-US" xlink:label="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedAbstract" xlink:to="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_ms_FinancialAsset30To89DaysPastDueMember_6172f66f-3276-4726-99ed-63f88c8030f3_terseLabel_en-US" xlink:label="lab_ms_FinancialAsset30To89DaysPastDueMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> 30-89 Days Past Due </link:label>
<link:label id="lab_ms_FinancialAsset30To89DaysPastDueMember_label_en-US" xlink:label="lab_ms_FinancialAsset30To89DaysPastDueMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financial Asset, 30 To 89 Days Past Due [Member] </link:label>
<link:label id="lab_ms_FinancialAsset30To89DaysPastDueMember_documentation_en-US" xlink:label="lab_ms_FinancialAsset30To89DaysPastDueMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financial Asset, 30 To 89 Days Past Due </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_FinancialAsset30To89DaysPastDueMember" xlink:href="ms-20231231.xsd#ms_FinancialAsset30To89DaysPastDueMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_FinancialAsset30To89DaysPastDueMember" xlink:to="lab_ms_FinancialAsset30To89DaysPastDueMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ComplianceWithRegulatoryCapitalRequirementsUnderBankingRegulationsLineItems_6e878044-44e7-4b7b-9d4e-3b1f50d5c944_terseLabel_en-US" xlink:label="lab_us-gaap_ComplianceWithRegulatoryCapitalRequirementsUnderBankingRegulationsLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Regulatory Requirements </link:label>
<link:label id="lab_us-gaap_ComplianceWithRegulatoryCapitalRequirementsUnderBankingRegulationsLineItems_label_en-US" xlink:label="lab_us-gaap_ComplianceWithRegulatoryCapitalRequirementsUnderBankingRegulationsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ComplianceWithRegulatoryCapitalRequirementsUnderBankingRegulationsLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ComplianceWithRegulatoryCapitalRequirementsUnderBankingRegulationsLineItems"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ComplianceWithRegulatoryCapitalRequirementsUnderBankingRegulationsLineItems" xlink:to="lab_us-gaap_ComplianceWithRegulatoryCapitalRequirementsUnderBankingRegulationsLineItems" xlink:type="arc" order="1"/>
<link:label id="lab_ms_HTMSecuritiesAbstract_d6c98c50-485f-4031-990f-af4dbbe19560_terseLabel_en-US" xlink:label="lab_ms_HTMSecuritiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> HTM securities: </link:label>
<link:label id="lab_ms_HTMSecuritiesAbstract_label_en-US" xlink:label="lab_ms_HTMSecuritiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> HTM Securities [Abstract] </link:label>
<link:label id="lab_ms_HTMSecuritiesAbstract_documentation_en-US" xlink:label="lab_ms_HTMSecuritiesAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> HTM Securities </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_HTMSecuritiesAbstract" xlink:href="ms-20231231.xsd#ms_HTMSecuritiesAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_HTMSecuritiesAbstract" xlink:to="lab_ms_HTMSecuritiesAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_ms_CertificatesAllegedlySponsoredUnderwrittenAndOrSold_83f14962-ca70-4273-a867-cdc29d043041_terseLabel_en-US" xlink:label="lab_ms_CertificatesAllegedlySponsoredUnderwrittenAndOrSold" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Value of mortgage pass-through certificates </link:label>
<link:label id="lab_ms_CertificatesAllegedlySponsoredUnderwrittenAndOrSold_label_en-US" xlink:label="lab_ms_CertificatesAllegedlySponsoredUnderwrittenAndOrSold" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Certificates Allegedly Sponsored, Underwritten, And, Or, Sold </link:label>
<link:label id="lab_ms_CertificatesAllegedlySponsoredUnderwrittenAndOrSold_documentation_en-US" xlink:label="lab_ms_CertificatesAllegedlySponsoredUnderwrittenAndOrSold" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Certificates Allegedly Sponsored, Underwritten, And, Or, Sold </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_CertificatesAllegedlySponsoredUnderwrittenAndOrSold" xlink:href="ms-20231231.xsd#ms_CertificatesAllegedlySponsoredUnderwrittenAndOrSold"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_CertificatesAllegedlySponsoredUnderwrittenAndOrSold" xlink:to="lab_ms_CertificatesAllegedlySponsoredUnderwrittenAndOrSold" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DebtSecuritiesAvailableForSaleRealizedGain_484452f2-187d-47d3-9ed4-6e0efad3ac66_terseLabel_en-US" xlink:label="lab_us-gaap_DebtSecuritiesAvailableForSaleRealizedGain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Gross realized gains </link:label>
<link:label id="lab_us-gaap_DebtSecuritiesAvailableForSaleRealizedGain_label_en-US" xlink:label="lab_us-gaap_DebtSecuritiesAvailableForSaleRealizedGain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt Securities, Available-for-Sale, Realized Gain </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtSecuritiesAvailableForSaleRealizedGain" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DebtSecuritiesAvailableForSaleRealizedGain"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtSecuritiesAvailableForSaleRealizedGain" xlink:to="lab_us-gaap_DebtSecuritiesAvailableForSaleRealizedGain" xlink:type="arc" order="1"/>
<link:label id="lab_ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageGrantDateFairValueRollForward_b15371d1-bb8e-4f97-a7c7-24db29ff19d8_terseLabel_en-US" xlink:label="lab_ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageGrantDateFairValueRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Weighted Average Award Date Fair Value </link:label>
<link:label id="lab_ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageGrantDateFairValueRollForward_label_en-US" xlink:label="lab_ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageGrantDateFairValueRollForward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Weighted Average Grant Date Fair Value [Roll Forward] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageGrantDateFairValueRollForward" xlink:href="ms-20231231.xsd#ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageGrantDateFairValueRollForward"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageGrantDateFairValueRollForward" xlink:to="lab_ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageGrantDateFairValueRollForward" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_GoodwillImpairmentLoss_f530c2a5-1053-4e50-b468-4db86c65cc49_terseLabel_en-US" xlink:label="lab_us-gaap_GoodwillImpairmentLoss" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Impairment </link:label>
<link:label id="lab_us-gaap_GoodwillImpairmentLoss_label_en-US" xlink:label="lab_us-gaap_GoodwillImpairmentLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Goodwill, Impairment Loss </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_GoodwillImpairmentLoss" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_GoodwillImpairmentLoss"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GoodwillImpairmentLoss" xlink:to="lab_us-gaap_GoodwillImpairmentLoss" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSettlements_011e5889-450d-4bf2-ae14-9187f8cbec03_verboseLabel_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSettlements" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Settlements </link:label>
<link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSettlements_label_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSettlements" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSettlements" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSettlements"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSettlements" xlink:to="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSettlements" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DeferredTaxAssetsValuationAllowance_b1784f39-c295-47d0-9313-3ef83f5ccccc_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredTaxAssetsValuationAllowance" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Less: Deferred tax assets valuation allowance </link:label>
<link:label id="lab_us-gaap_DeferredTaxAssetsValuationAllowance_label_en-US" xlink:label="lab_us-gaap_DeferredTaxAssetsValuationAllowance" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Deferred Tax Assets, Valuation Allowance </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxAssetsValuationAllowance" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DeferredTaxAssetsValuationAllowance"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredTaxAssetsValuationAllowance" xlink:to="lab_us-gaap_DeferredTaxAssetsValuationAllowance" xlink:type="arc" order="1"/>
<link:label id="lab_ms_MinimumEnhancedSLRCapitalBufferPercent_95ee1a27-eda7-4c58-9977-d155d0da7c8d_terseLabel_en-US" xlink:label="lab_ms_MinimumEnhancedSLRCapitalBufferPercent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Minimum enhanced SLR capital buffer (as a percent) </link:label>
<link:label id="lab_ms_MinimumEnhancedSLRCapitalBufferPercent_label_en-US" xlink:label="lab_ms_MinimumEnhancedSLRCapitalBufferPercent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Minimum Enhanced SLR Capital Buffer, Percent </link:label>
<link:label id="lab_ms_MinimumEnhancedSLRCapitalBufferPercent_documentation_en-US" xlink:label="lab_ms_MinimumEnhancedSLRCapitalBufferPercent" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Minimum Enhanced SLR Capital Buffer, Percent </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_MinimumEnhancedSLRCapitalBufferPercent" xlink:href="ms-20231231.xsd#ms_MinimumEnhancedSLRCapitalBufferPercent"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_MinimumEnhancedSLRCapitalBufferPercent" xlink:to="lab_ms_MinimumEnhancedSLRCapitalBufferPercent" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_MarketingAndAdvertisingExpense_dc55bc1e-32c7-480e-b8e2-cb90dec6b236_terseLabel_en-US" xlink:label="lab_us-gaap_MarketingAndAdvertisingExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Marketing and business development </link:label>
<link:label id="lab_us-gaap_MarketingAndAdvertisingExpense_label_en-US" xlink:label="lab_us-gaap_MarketingAndAdvertisingExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Marketing and Advertising Expense </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_MarketingAndAdvertisingExpense" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_MarketingAndAdvertisingExpense"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MarketingAndAdvertisingExpense" xlink:to="lab_us-gaap_MarketingAndAdvertisingExpense" xlink:type="arc" order="1"/>
<link:label id="lab_ms_SeriesPPreferredStockMember_3925bf40-9218-4696-a4a8-50a464b43e6a_terseLabel_en-US" xlink:label="lab_ms_SeriesPPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Non-Cumulative Preferred Stock, Series P, $0.01 par value </link:label>
<link:label id="lab_ms_SeriesPPreferredStockMember_021eeef7-028d-4f14-9829-bb7d15d2400b_verboseLabel_en-US" xlink:label="lab_ms_SeriesPPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Series P </link:label>
<link:label id="lab_ms_SeriesPPreferredStockMember_label_en-US" xlink:label="lab_ms_SeriesPPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Series P Preferred Stock [Member] </link:label>
<link:label id="lab_ms_SeriesPPreferredStockMember_documentation_en-US" xlink:label="lab_ms_SeriesPPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Series P Preferred Stock </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_SeriesPPreferredStockMember" xlink:href="ms-20231231.xsd#ms_SeriesPPreferredStockMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_SeriesPPreferredStockMember" xlink:to="lab_ms_SeriesPPreferredStockMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_ShortTermDebtFiscalYearMaturityAbstract_5bcdb4e0-f24f-4a95-b933-dd33a2d456d1_terseLabel_en-US" xlink:label="lab_ms_ShortTermDebtFiscalYearMaturityAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Original maturities of one year or less: </link:label>
<link:label id="lab_ms_ShortTermDebtFiscalYearMaturityAbstract_label_en-US" xlink:label="lab_ms_ShortTermDebtFiscalYearMaturityAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Short-term Debt, Fiscal Year Maturity [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_ShortTermDebtFiscalYearMaturityAbstract" xlink:href="ms-20231231.xsd#ms_ShortTermDebtFiscalYearMaturityAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_ShortTermDebtFiscalYearMaturityAbstract" xlink:to="lab_ms_ShortTermDebtFiscalYearMaturityAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_AociDerivativeQualifyingAsHedgeExcludedComponentParentMember_d7459c20-4dcb-4bc7-82c4-3b4cf2ebb4eb_terseLabel_en-US" xlink:label="lab_us-gaap_AociDerivativeQualifyingAsHedgeExcludedComponentParentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Cash Flow Hedges </link:label>
<link:label id="lab_us-gaap_AociDerivativeQualifyingAsHedgeExcludedComponentParentMember_label_en-US" xlink:label="lab_us-gaap_AociDerivativeQualifyingAsHedgeExcludedComponentParentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> AOCI, Derivative Qualifying as Hedge, Excluded Component, Parent [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AociDerivativeQualifyingAsHedgeExcludedComponentParentMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AociDerivativeQualifyingAsHedgeExcludedComponentParentMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AociDerivativeQualifyingAsHedgeExcludedComponentParentMember" xlink:to="lab_us-gaap_AociDerivativeQualifyingAsHedgeExcludedComponentParentMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_RetirementPlanNameAxis_5dfc9616-0635-4318-b8a8-745703af8ef2_terseLabel_en-US" xlink:label="lab_us-gaap_RetirementPlanNameAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Retirement Plan Name [Axis] </link:label>
<link:label id="lab_us-gaap_RetirementPlanNameAxis_label_en-US" xlink:label="lab_us-gaap_RetirementPlanNameAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Retirement Plan Name [Axis] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_RetirementPlanNameAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_RetirementPlanNameAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RetirementPlanNameAxis" xlink:to="lab_us-gaap_RetirementPlanNameAxis" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DepreciationAndAmortization_4124ba16-d36b-4972-a100-276431e6b5cc_terseLabel_en-US" xlink:label="lab_us-gaap_DepreciationAndAmortization" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Depreciation and amortization </link:label>
<link:label id="lab_us-gaap_DepreciationAndAmortization_label_en-US" xlink:label="lab_us-gaap_DepreciationAndAmortization" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Depreciation, Depletion and Amortization, Nonproduction </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DepreciationAndAmortization" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DepreciationAndAmortization"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DepreciationAndAmortization" xlink:to="lab_us-gaap_DepreciationAndAmortization" xlink:type="arc" order="1"/>
<link:label id="lab_ms_FinancingReceivableIncludingHeldForSaleBeforeAllowanceForCreditLoss_ad13a79b-d367-4ca8-8431-d41d8be427ac_totalLabel_en-US" xlink:label="lab_ms_FinancingReceivableIncludingHeldForSaleBeforeAllowanceForCreditLoss" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Total loans </link:label>
<link:label id="lab_ms_FinancingReceivableIncludingHeldForSaleBeforeAllowanceForCreditLoss_label_en-US" xlink:label="lab_ms_FinancingReceivableIncludingHeldForSaleBeforeAllowanceForCreditLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financing Receivable including Held-for-Sale, before Allowance for Credit Loss </link:label>
<link:label id="lab_ms_FinancingReceivableIncludingHeldForSaleBeforeAllowanceForCreditLoss_documentation_en-US" xlink:label="lab_ms_FinancingReceivableIncludingHeldForSaleBeforeAllowanceForCreditLoss" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financing Receivable including Held-for-Sale, before Allowance for Credit Loss </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_FinancingReceivableIncludingHeldForSaleBeforeAllowanceForCreditLoss" xlink:href="ms-20231231.xsd#ms_FinancingReceivableIncludingHeldForSaleBeforeAllowanceForCreditLoss"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_FinancingReceivableIncludingHeldForSaleBeforeAllowanceForCreditLoss" xlink:to="lab_ms_FinancingReceivableIncludingHeldForSaleBeforeAllowanceForCreditLoss" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ExchangeTradedMember_03ee9db0-4305-41b0-8215-4b0e4b67ce52_terseLabel_en-US" xlink:label="lab_us-gaap_ExchangeTradedMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Exchange- Traded </link:label>
<link:label id="lab_us-gaap_ExchangeTradedMember_label_en-US" xlink:label="lab_us-gaap_ExchangeTradedMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Exchange Traded [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ExchangeTradedMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ExchangeTradedMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ExchangeTradedMember" xlink:to="lab_us-gaap_ExchangeTradedMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesFairValueAbstract_d3dcdaa1-dc46-40dd-8f4a-fd6094b6af72_terseLabel_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesFairValueAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value </link:label>
<link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesFairValueAbstract_label_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesFairValueAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt Securities, Available-for-Sale, Fair Value, Fiscal Year Maturity [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesFairValueAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AvailableForSaleSecuritiesDebtMaturitiesFairValueAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesFairValueAbstract" xlink:to="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesFairValueAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_IntangibleAssetsNetExcludingGoodwill_5507bc6d-b944-4d80-908a-cca16e56839a_terseLabel_en-US" xlink:label="lab_us-gaap_IntangibleAssetsNetExcludingGoodwill" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Intangible assets (net of accumulated amortization of $4,847 and $4,253) </link:label>
<link:label id="lab_us-gaap_IntangibleAssetsNetExcludingGoodwill_label_en-US" xlink:label="lab_us-gaap_IntangibleAssetsNetExcludingGoodwill" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Intangible Assets, Net (Excluding Goodwill) </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_IntangibleAssetsNetExcludingGoodwill" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_IntangibleAssetsNetExcludingGoodwill"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IntangibleAssetsNetExcludingGoodwill" xlink:to="lab_us-gaap_IntangibleAssetsNetExcludingGoodwill" xlink:type="arc" order="1"/>
<link:label id="lab_ms_HeldToMaturitySecuritiesDebtMaturitiesAnnualizedAverageYield_f0b34616-c349-47df-81de-9b1b4d335416_terseLabel_en-US" xlink:label="lab_ms_HeldToMaturitySecuritiesDebtMaturitiesAnnualizedAverageYield" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> HTM securities: Annualized average yield, total (as a percent) </link:label>
<link:label id="lab_ms_HeldToMaturitySecuritiesDebtMaturitiesAnnualizedAverageYield_label_en-US" xlink:label="lab_ms_HeldToMaturitySecuritiesDebtMaturitiesAnnualizedAverageYield" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Held-to-maturity Securities Debt Maturities Annualized Average Yield </link:label>
<link:label id="lab_ms_HeldToMaturitySecuritiesDebtMaturitiesAnnualizedAverageYield_documentation_en-US" xlink:label="lab_ms_HeldToMaturitySecuritiesDebtMaturitiesAnnualizedAverageYield" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Annualized average yield categorized as held-to-maturity. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_HeldToMaturitySecuritiesDebtMaturitiesAnnualizedAverageYield" xlink:href="ms-20231231.xsd#ms_HeldToMaturitySecuritiesDebtMaturitiesAnnualizedAverageYield"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_HeldToMaturitySecuritiesDebtMaturitiesAnnualizedAverageYield" xlink:to="lab_ms_HeldToMaturitySecuritiesDebtMaturitiesAnnualizedAverageYield" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_IncreaseDecreaseInSecuritiesLoanedTransactions_40eab18a-8f71-4f49-9721-a4c2026bca93_verboseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInSecuritiesLoanedTransactions" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Securities loaned </link:label>
<link:label id="lab_us-gaap_IncreaseDecreaseInSecuritiesLoanedTransactions_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInSecuritiesLoanedTransactions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Increase (Decrease) in Securities Loaned Transactions </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInSecuritiesLoanedTransactions" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_IncreaseDecreaseInSecuritiesLoanedTransactions"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInSecuritiesLoanedTransactions" xlink:to="lab_us-gaap_IncreaseDecreaseInSecuritiesLoanedTransactions" xlink:type="arc" order="1"/>
<link:label id="lab_ms_LongTermDebtRateTypeDomain_a3b7d7a1-b19a-4bd0-88a9-ea94a8b2e4cf_terseLabel_en-US" xlink:label="lab_ms_LongTermDebtRateTypeDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Long-term Debt, Rate Type [Domain] </link:label>
<link:label id="lab_ms_LongTermDebtRateTypeDomain_label_en-US" xlink:label="lab_ms_LongTermDebtRateTypeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Long-term Debt, Rate Type [Domain] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_LongTermDebtRateTypeDomain" xlink:href="ms-20231231.xsd#ms_LongTermDebtRateTypeDomain"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_LongTermDebtRateTypeDomain" xlink:to="lab_ms_LongTermDebtRateTypeDomain" xlink:type="arc" order="1"/>
<link:label id="lab_ms_FinancialAssetPastDueMinusCurrentMember_73673199-37d4-45cb-b6a9-6967e9d36a97_terseLabel_en-US" xlink:label="lab_ms_FinancialAssetPastDueMinusCurrentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Past due </link:label>
<link:label id="lab_ms_FinancialAssetPastDueMinusCurrentMember_label_en-US" xlink:label="lab_ms_FinancialAssetPastDueMinusCurrentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financial Asset, Past Due Minus Current [Member] </link:label>
<link:label id="lab_ms_FinancialAssetPastDueMinusCurrentMember_documentation_en-US" xlink:label="lab_ms_FinancialAssetPastDueMinusCurrentMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financial Asset, Past Due Minus Current [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_FinancialAssetPastDueMinusCurrentMember" xlink:href="ms-20231231.xsd#ms_FinancialAssetPastDueMinusCurrentMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_FinancialAssetPastDueMinusCurrentMember" xlink:to="lab_ms_FinancialAssetPastDueMinusCurrentMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_LoansHeldForSaleFairValueDisclosure_59c6002c-cb3f-43c7-b242-d690f46b69c8_terseLabel_en-US" xlink:label="lab_us-gaap_LoansHeldForSaleFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Loans </link:label>
<link:label id="lab_us-gaap_LoansHeldForSaleFairValueDisclosure_label_en-US" xlink:label="lab_us-gaap_LoansHeldForSaleFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Loan, Held-for-Sale, Fair Value Disclosure </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LoansHeldForSaleFairValueDisclosure" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LoansHeldForSaleFairValueDisclosure"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LoansHeldForSaleFairValueDisclosure" xlink:to="lab_us-gaap_LoansHeldForSaleFairValueDisclosure" xlink:type="arc" order="1"/>
<link:label id="lab_ms_ScheduleofInstitutionalSecuritiesRevenuesTableTextBlock_9f9799c4-28e2-4226-be7e-32059b3160ba_terseLabel_en-US" xlink:label="lab_ms_ScheduleofInstitutionalSecuritiesRevenuesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Detail of Investment Banking Revenues </link:label>
<link:label id="lab_ms_ScheduleofInstitutionalSecuritiesRevenuesTableTextBlock_label_en-US" xlink:label="lab_ms_ScheduleofInstitutionalSecuritiesRevenuesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Institutional Securities Revenues [Table Text Block] </link:label>
<link:label id="lab_ms_ScheduleofInstitutionalSecuritiesRevenuesTableTextBlock_documentation_en-US" xlink:label="lab_ms_ScheduleofInstitutionalSecuritiesRevenuesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Institutional Securities Revenues [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_ScheduleofInstitutionalSecuritiesRevenuesTableTextBlock" xlink:href="ms-20231231.xsd#ms_ScheduleofInstitutionalSecuritiesRevenuesTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_ScheduleofInstitutionalSecuritiesRevenuesTableTextBlock" xlink:to="lab_ms_ScheduleofInstitutionalSecuritiesRevenuesTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_ms_MultipleLoanModificationsPaymentDeferralMember_f13e4fa0-5410-49b8-ae03-4869aa4f0afa_terseLabel_en-US" xlink:label="lab_ms_MultipleLoanModificationsPaymentDeferralMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Multiple Modification, Other-than-insignificant Payment Delay </link:label>
<link:label id="lab_ms_MultipleLoanModificationsPaymentDeferralMember_label_en-US" xlink:label="lab_ms_MultipleLoanModificationsPaymentDeferralMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Multiple Loan Modifications, Payment Deferral [Member] </link:label>
<link:label id="lab_ms_MultipleLoanModificationsPaymentDeferralMember_documentation_en-US" xlink:label="lab_ms_MultipleLoanModificationsPaymentDeferralMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Multiple Loan Modifications, Payment Deferral </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_MultipleLoanModificationsPaymentDeferralMember" xlink:href="ms-20231231.xsd#ms_MultipleLoanModificationsPaymentDeferralMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_MultipleLoanModificationsPaymentDeferralMember" xlink:to="lab_ms_MultipleLoanModificationsPaymentDeferralMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_CommonStockMember_06cab185-3c0e-4447-b153-2d661b173307_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Common Stock </link:label>
<link:label id="lab_us-gaap_CommonStockMember_label_en-US" xlink:label="lab_us-gaap_CommonStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Common Stock [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CommonStockMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockMember" xlink:to="lab_us-gaap_CommonStockMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ScheduleOfComplianceWithRegulatoryCapitalRequirementsUnderBankingRegulationsTable_65883b77-b681-4092-93d2-dce64bec0569_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfComplianceWithRegulatoryCapitalRequirementsUnderBankingRegulationsTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table] </link:label>
<link:label id="lab_us-gaap_ScheduleOfComplianceWithRegulatoryCapitalRequirementsUnderBankingRegulationsTable_label_en-US" xlink:label="lab_us-gaap_ScheduleOfComplianceWithRegulatoryCapitalRequirementsUnderBankingRegulationsTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfComplianceWithRegulatoryCapitalRequirementsUnderBankingRegulationsTable" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfComplianceWithRegulatoryCapitalRequirementsUnderBankingRegulationsTable"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfComplianceWithRegulatoryCapitalRequirementsUnderBankingRegulationsTable" xlink:to="lab_us-gaap_ScheduleOfComplianceWithRegulatoryCapitalRequirementsUnderBankingRegulationsTable" xlink:type="arc" order="1"/>
<link:label id="lab_dei_EntityAddressPostalZipCode_ac96337e-7b1e-4f9e-9eb1-cecda509fa88_terseLabel_en-US" xlink:label="lab_dei_EntityAddressPostalZipCode" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Entity Address, Postal Zip Code </link:label>
<link:label id="lab_dei_EntityAddressPostalZipCode_label_en-US" xlink:label="lab_dei_EntityAddressPostalZipCode" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Entity Address, Postal Zip Code </link:label>
<link:loc xlink:type="locator" xlink:label="loc_dei_EntityAddressPostalZipCode" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressPostalZipCode"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityAddressPostalZipCode" xlink:to="lab_dei_EntityAddressPostalZipCode" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock_04d0d4a0-097d-489c-8e3c-6e495c5d046b_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis </link:label>
<link:label id="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock_label_en-US" xlink:label="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value Measurements, Recurring and Nonrecurring [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock" xlink:to="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_ms_CurrentlyEmployedbytheFirmMember_f2ee4846-706e-4fe5-bb98-7c3978c638d9_verboseLabel_en-US" xlink:label="lab_ms_CurrentlyEmployedbytheFirmMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Currently employed by the Firm </link:label>
<link:label id="lab_ms_CurrentlyEmployedbytheFirmMember_label_en-US" xlink:label="lab_ms_CurrentlyEmployedbytheFirmMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Currently Employed by the Firm [Member] </link:label>
<link:label id="lab_ms_CurrentlyEmployedbytheFirmMember_documentation_en-US" xlink:label="lab_ms_CurrentlyEmployedbytheFirmMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Currently Employed by the Firm [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_CurrentlyEmployedbytheFirmMember" xlink:href="ms-20231231.xsd#ms_CurrentlyEmployedbytheFirmMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_CurrentlyEmployedbytheFirmMember" xlink:to="lab_ms_CurrentlyEmployedbytheFirmMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_637232e9-001d-41ab-9016-d1a4a8885eb7_totalLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Total equity </link:label>
<link:label id="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_0415310e-3e56-4034-b5e7-6abf51381b65_periodStartLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Beginning balance </link:label>
<link:label id="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_1006719c-0df9-41de-8275-011d9ff3ce64_periodEndLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Ending balance </link:label>
<link:label id="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_label_en-US" xlink:label="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Equity, Including Portion Attributable to Noncontrolling Interest </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:to="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:type="arc" order="1"/>
<link:label id="lab_ms_CaseNumberB207316Member_8af74b9e-42e7-43c1-8ce5-271f07a21003_terseLabel_en-US" xlink:label="lab_ms_CaseNumberB207316Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Case number B-2073-16 </link:label>
<link:label id="lab_ms_CaseNumberB207316Member_label_en-US" xlink:label="lab_ms_CaseNumberB207316Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Case number B-2073-16 [Member] </link:label>
<link:label id="lab_ms_CaseNumberB207316Member_documentation_en-US" xlink:label="lab_ms_CaseNumberB207316Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Case number B-2073-16 </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_CaseNumberB207316Member" xlink:href="ms-20231231.xsd#ms_CaseNumberB207316Member"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_CaseNumberB207316Member" xlink:to="lab_ms_CaseNumberB207316Member" xlink:type="arc" order="1"/>
<link:label id="lab_srt_MinimumMember_1fc84daf-0ede-47ca-a43d-4df9a42a52fc_terseLabel_en-US" xlink:label="lab_srt_MinimumMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Minimum </link:label>
<link:label id="lab_srt_MinimumMember_label_en-US" xlink:label="lab_srt_MinimumMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Minimum [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_srt_MinimumMember" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_MinimumMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_MinimumMember" xlink:to="lab_srt_MinimumMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_CreditRiskContractMember_57622e9f-340e-4ad1-b570-efdd0a263d79_verboseLabel_en-US" xlink:label="lab_us-gaap_CreditRiskContractMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Credit </link:label>
<link:label id="lab_us-gaap_CreditRiskContractMember_5b5eaa69-6062-4572-84c4-03337769d7ae_terseLabel_en-US" xlink:label="lab_us-gaap_CreditRiskContractMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Credit derivatives </link:label>
<link:label id="lab_us-gaap_CreditRiskContractMember_label_en-US" xlink:label="lab_us-gaap_CreditRiskContractMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Credit Risk Contract [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CreditRiskContractMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CreditRiskContractMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CreditRiskContractMember" xlink:to="lab_us-gaap_CreditRiskContractMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_NoninterestIncomeOtherOperatingIncome_e661c5fc-2509-4304-b58b-ba4a79628793_verboseLabel_en-US" xlink:label="lab_us-gaap_NoninterestIncomeOtherOperatingIncome" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other </link:label>
<link:label id="lab_us-gaap_NoninterestIncomeOtherOperatingIncome_label_en-US" xlink:label="lab_us-gaap_NoninterestIncomeOtherOperatingIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Noninterest Income, Other Operating Income </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_NoninterestIncomeOtherOperatingIncome" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_NoninterestIncomeOtherOperatingIncome"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NoninterestIncomeOtherOperatingIncome" xlink:to="lab_us-gaap_NoninterestIncomeOtherOperatingIncome" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_CashReserveDepositRequiredAndMade_c4c2651c-e6e4-4047-b2ab-18880f261a5c_verboseLabel_en-US" xlink:label="lab_us-gaap_CashReserveDepositRequiredAndMade" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other assets </link:label>
<link:label id="lab_us-gaap_CashReserveDepositRequiredAndMade_label_en-US" xlink:label="lab_us-gaap_CashReserveDepositRequiredAndMade" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Cash Reserve Deposit Required and Made </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashReserveDepositRequiredAndMade" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CashReserveDepositRequiredAndMade"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashReserveDepositRequiredAndMade" xlink:to="lab_us-gaap_CashReserveDepositRequiredAndMade" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_OtherComprehensiveIncomeLossNetOfTax_7fcf82a0-f016-4198-85e2-e38ed1df3fbb_totalLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossNetOfTax" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Total other comprehensive income (loss) </link:label>
<link:label id="lab_us-gaap_OtherComprehensiveIncomeLossNetOfTax_33773e7e-a8a3-4991-b951-a1125dc44ee2_terseLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossNetOfTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Net change in Accumulated other comprehensive income (loss) </link:label>
<link:label id="lab_us-gaap_OtherComprehensiveIncomeLossNetOfTax_label_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossNetOfTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other Comprehensive Income (Loss), Net of Tax </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossNetOfTax" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OtherComprehensiveIncomeLossNetOfTax"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherComprehensiveIncomeLossNetOfTax" xlink:to="lab_us-gaap_OtherComprehensiveIncomeLossNetOfTax" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths_ce283d4e-80fc-4391-85a0-612d8f6cfd9b_terseLabel_en-US" xlink:label="lab_us-gaap_CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Cash flow hedges expected to be reclassified from AOCI </link:label>
<link:label id="lab_us-gaap_CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths_label_en-US" xlink:label="lab_us-gaap_CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Cash Flow Hedge Gain (Loss) to be Reclassified within 12 Months </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths" xlink:to="lab_us-gaap_CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ContinuingInvolvementWithTransferredFinancialAssetsPrincipalAmountOutstanding_6cd021e2-17d2-4484-9a22-3a834fd2d26e_terseLabel_en-US" xlink:label="lab_us-gaap_ContinuingInvolvementWithTransferredFinancialAssetsPrincipalAmountOutstanding" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> SPE assets (UPB) </link:label>
<link:label id="lab_us-gaap_ContinuingInvolvementWithTransferredFinancialAssetsPrincipalAmountOutstanding_label_en-US" xlink:label="lab_us-gaap_ContinuingInvolvementWithTransferredFinancialAssetsPrincipalAmountOutstanding" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Continuing Involvement with Transferred Financial Assets, Principal Amount Outstanding </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ContinuingInvolvementWithTransferredFinancialAssetsPrincipalAmountOutstanding" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ContinuingInvolvementWithTransferredFinancialAssetsPrincipalAmountOutstanding"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ContinuingInvolvementWithTransferredFinancialAssetsPrincipalAmountOutstanding" xlink:to="lab_us-gaap_ContinuingInvolvementWithTransferredFinancialAssetsPrincipalAmountOutstanding" xlink:type="arc" order="1"/>
<link:label id="lab_ms_MorganStanley401kPlanMember_72ff6787-a52a-4f67-9f72-21ed138591fc_terseLabel_en-US" xlink:label="lab_ms_MorganStanley401kPlanMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Morgan Stanley 401(k) Plan </link:label>
<link:label id="lab_ms_MorganStanley401kPlanMember_label_en-US" xlink:label="lab_ms_MorganStanley401kPlanMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Morgan Stanley 401k Plan [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_MorganStanley401kPlanMember" xlink:href="ms-20231231.xsd#ms_MorganStanley401kPlanMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_MorganStanley401kPlanMember" xlink:to="lab_ms_MorganStanley401kPlanMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateAccumulatedBenefitObligation_a4a34585-875c-4db6-8c4d-f08e784b6e0a_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateAccumulatedBenefitObligation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Accumulated benefit obligation </link:label>
<link:label id="lab_us-gaap_DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateAccumulatedBenefitObligation_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateAccumulatedBenefitObligation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets, Accumulated Benefit Obligation </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateAccumulatedBenefitObligation" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateAccumulatedBenefitObligation"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateAccumulatedBenefitObligation" xlink:to="lab_us-gaap_DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateAccumulatedBenefitObligation" xlink:type="arc" order="1"/>
<link:label id="lab_ms_InvestmentInSubsidiariesAtEquityBankAndBankHoldingCompany_2d94087e-8833-43a3-aa0f-a3478876cebf_terseLabel_en-US" xlink:label="lab_ms_InvestmentInSubsidiariesAtEquityBankAndBankHoldingCompany" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Bank and BHC </link:label>
<link:label id="lab_ms_InvestmentInSubsidiariesAtEquityBankAndBankHoldingCompany_label_en-US" xlink:label="lab_ms_InvestmentInSubsidiariesAtEquityBankAndBankHoldingCompany" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Investment in Subsidiaries at Equity, Bank and Bank Holding Company </link:label>
<link:label id="lab_ms_InvestmentInSubsidiariesAtEquityBankAndBankHoldingCompany_documentation_en-US" xlink:label="lab_ms_InvestmentInSubsidiariesAtEquityBankAndBankHoldingCompany" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Investment in subsidiaries at equity, bank and bank holding company. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_InvestmentInSubsidiariesAtEquityBankAndBankHoldingCompany" xlink:href="ms-20231231.xsd#ms_InvestmentInSubsidiariesAtEquityBankAndBankHoldingCompany"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_InvestmentInSubsidiariesAtEquityBankAndBankHoldingCompany" xlink:to="lab_ms_InvestmentInSubsidiariesAtEquityBankAndBankHoldingCompany" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_SecuritiesPurchasedUnderAgreementsToResellCollateralObligationToReturnCash_16f6e810-4c1b-4e1e-a19d-b20cbd0200a8_negatedLabel_en-US" xlink:label="lab_us-gaap_SecuritiesPurchasedUnderAgreementsToResellCollateralObligationToReturnCash" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Amounts Not Offset </link:label>
<link:label id="lab_us-gaap_SecuritiesPurchasedUnderAgreementsToResellCollateralObligationToReturnCash_label_en-US" xlink:label="lab_us-gaap_SecuritiesPurchasedUnderAgreementsToResellCollateralObligationToReturnCash" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Security Purchased under Agreement to Resell, Subject to Master Netting Arrangement, Collateral, Obligation to Return Cash Not Offset </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_SecuritiesPurchasedUnderAgreementsToResellCollateralObligationToReturnCash" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SecuritiesPurchasedUnderAgreementsToResellCollateralObligationToReturnCash"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SecuritiesPurchasedUnderAgreementsToResellCollateralObligationToReturnCash" xlink:to="lab_us-gaap_SecuritiesPurchasedUnderAgreementsToResellCollateralObligationToReturnCash" xlink:type="arc" order="1"/>
<link:label id="lab_ms_ScheduleOfPropertyPlantAndEquipmentEstimatedUsefulLivesTableTextBlock_6fa977b2-b7f1-4b40-89be-6c202d635881_terseLabel_en-US" xlink:label="lab_ms_ScheduleOfPropertyPlantAndEquipmentEstimatedUsefulLivesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Estimated Useful Lives of Assets </link:label>
<link:label id="lab_ms_ScheduleOfPropertyPlantAndEquipmentEstimatedUsefulLivesTableTextBlock_label_en-US" xlink:label="lab_ms_ScheduleOfPropertyPlantAndEquipmentEstimatedUsefulLivesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Property, Plant and Equipment, Estimated Useful Lives [Table Text Block] </link:label>
<link:label id="lab_ms_ScheduleOfPropertyPlantAndEquipmentEstimatedUsefulLivesTableTextBlock_documentation_en-US" xlink:label="lab_ms_ScheduleOfPropertyPlantAndEquipmentEstimatedUsefulLivesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Tabular disclosure of the periods of time over which an entity anticipates to receive utility from its property, plant and equipment. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_ScheduleOfPropertyPlantAndEquipmentEstimatedUsefulLivesTableTextBlock" xlink:href="ms-20231231.xsd#ms_ScheduleOfPropertyPlantAndEquipmentEstimatedUsefulLivesTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_ScheduleOfPropertyPlantAndEquipmentEstimatedUsefulLivesTableTextBlock" xlink:to="lab_ms_ScheduleOfPropertyPlantAndEquipmentEstimatedUsefulLivesTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_ms_AvailableForSaleSecuritiesDebtMaturitiesAnnualizedAverageYieldFiscalYearMaturityAbstract_70158be7-1497-4f77-bee6-180f08d8b5bd_terseLabel_en-US" xlink:label="lab_ms_AvailableForSaleSecuritiesDebtMaturitiesAnnualizedAverageYieldFiscalYearMaturityAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Annualized Average Yield </link:label>
<link:label id="lab_ms_AvailableForSaleSecuritiesDebtMaturitiesAnnualizedAverageYieldFiscalYearMaturityAbstract_label_en-US" xlink:label="lab_ms_AvailableForSaleSecuritiesDebtMaturitiesAnnualizedAverageYieldFiscalYearMaturityAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Available-for-sale Securities, Debt Maturities, Annualized Average Yield, Fiscal Year Maturity [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_AvailableForSaleSecuritiesDebtMaturitiesAnnualizedAverageYieldFiscalYearMaturityAbstract" xlink:href="ms-20231231.xsd#ms_AvailableForSaleSecuritiesDebtMaturitiesAnnualizedAverageYieldFiscalYearMaturityAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_AvailableForSaleSecuritiesDebtMaturitiesAnnualizedAverageYieldFiscalYearMaturityAbstract" xlink:to="lab_ms_AvailableForSaleSecuritiesDebtMaturitiesAnnualizedAverageYieldFiscalYearMaturityAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DebtSecuritiesHeldToMaturityExcludingAccruedInterestBeforeAllowanceForCreditLoss_9f40b8ff-c119-4613-a9b6-084ec78dc7a2_terseLabel_en-US" xlink:label="lab_us-gaap_DebtSecuritiesHeldToMaturityExcludingAccruedInterestBeforeAllowanceForCreditLoss" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Investment securities—HTM </link:label>
<link:label id="lab_us-gaap_DebtSecuritiesHeldToMaturityExcludingAccruedInterestBeforeAllowanceForCreditLoss_label_en-US" xlink:label="lab_us-gaap_DebtSecuritiesHeldToMaturityExcludingAccruedInterestBeforeAllowanceForCreditLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtSecuritiesHeldToMaturityExcludingAccruedInterestBeforeAllowanceForCreditLoss" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DebtSecuritiesHeldToMaturityExcludingAccruedInterestBeforeAllowanceForCreditLoss"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtSecuritiesHeldToMaturityExcludingAccruedInterestBeforeAllowanceForCreditLoss" xlink:to="lab_us-gaap_DebtSecuritiesHeldToMaturityExcludingAccruedInterestBeforeAllowanceForCreditLoss" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet_2cc1dcba-8c7a-4a23-9a0e-0817ab687631_verboseLabel_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Net transfers </link:label>
<link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet_label_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet" xlink:to="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax_660c88da-fc32-4a81-91db-6e0121958988_terseLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Net change in cash flow hedges </link:label>
<link:label id="lab_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax_label_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax" xlink:to="lab_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_AccountingPoliciesAbstract_fa41ca03-baa6-47ce-b87d-591f51a04a43_terseLabel_en-US" xlink:label="lab_us-gaap_AccountingPoliciesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Accounting Policies [Abstract] </link:label>
<link:label id="lab_us-gaap_AccountingPoliciesAbstract_label_en-US" xlink:label="lab_us-gaap_AccountingPoliciesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Accounting Policies [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccountingPoliciesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AccountingPoliciesAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccountingPoliciesAbstract" xlink:to="lab_us-gaap_AccountingPoliciesAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_ms_InterestIncomeSecuritiesBorrowed_92b8caeb-b608-4391-a7f6-79f38296b6b3_terseLabel_en-US" xlink:label="lab_ms_InterestIncomeSecuritiesBorrowed" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Securities borrowed </link:label>
<link:label id="lab_ms_InterestIncomeSecuritiesBorrowed_label_en-US" xlink:label="lab_ms_InterestIncomeSecuritiesBorrowed" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Interest Income, Securities Borrowed </link:label>
<link:label id="lab_ms_InterestIncomeSecuritiesBorrowed_documentation_en-US" xlink:label="lab_ms_InterestIncomeSecuritiesBorrowed" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Interest Income, Securities Borrowed </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_InterestIncomeSecuritiesBorrowed" xlink:href="ms-20231231.xsd#ms_InterestIncomeSecuritiesBorrowed"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_InterestIncomeSecuritiesBorrowed" xlink:to="lab_ms_InterestIncomeSecuritiesBorrowed" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DeferredTaxAssetsLiabilitiesNet_5244909f-b437-4352-accb-25e6d37f4ef6_totalLabel_en-US" xlink:label="lab_us-gaap_DeferredTaxAssetsLiabilitiesNet" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Net deferred tax assets </link:label>
<link:label id="lab_us-gaap_DeferredTaxAssetsLiabilitiesNet_label_en-US" xlink:label="lab_us-gaap_DeferredTaxAssetsLiabilitiesNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Deferred Tax Assets, Net </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxAssetsLiabilitiesNet" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DeferredTaxAssetsLiabilitiesNet"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredTaxAssetsLiabilitiesNet" xlink:to="lab_us-gaap_DeferredTaxAssetsLiabilitiesNet" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DefinedBenefitPlanFairValueOfPlanAssets_9e796487-0abd-4445-8178-78f379f7b7c7_periodStartLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanFairValueOfPlanAssets" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Balance at beginning of period </link:label>
<link:label id="lab_us-gaap_DefinedBenefitPlanFairValueOfPlanAssets_5eeaf56e-bda5-4af9-9889-951efc7b3678_periodEndLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanFairValueOfPlanAssets" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Balance at end of period </link:label>
<link:label id="lab_us-gaap_DefinedBenefitPlanFairValueOfPlanAssets_29878b8e-21df-4cf7-9ac2-0970e3601e06_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanFairValueOfPlanAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair value of plan assets </link:label>
<link:label id="lab_us-gaap_DefinedBenefitPlanFairValueOfPlanAssets_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanFairValueOfPlanAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Defined Benefit Plan, Plan Assets, Amount </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanFairValueOfPlanAssets" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DefinedBenefitPlanFairValueOfPlanAssets"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanFairValueOfPlanAssets" xlink:to="lab_us-gaap_DefinedBenefitPlanFairValueOfPlanAssets" xlink:type="arc" order="1"/>
<link:label id="lab_ms_ShareBasedPaymentArrangementPerformanceSharesValuationMethodExpectedVolatilityRate_676f0016-964d-4fc1-98f8-368e6eae539a_terseLabel_en-US" xlink:label="lab_ms_ShareBasedPaymentArrangementPerformanceSharesValuationMethodExpectedVolatilityRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Expected stock price volatility (as a percent) </link:label>
<link:label id="lab_ms_ShareBasedPaymentArrangementPerformanceSharesValuationMethodExpectedVolatilityRate_label_en-US" xlink:label="lab_ms_ShareBasedPaymentArrangementPerformanceSharesValuationMethodExpectedVolatilityRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Share-based Payment Arrangement, Performance Shares, Valuation Method, Expected Volatility Rate </link:label>
<link:label id="lab_ms_ShareBasedPaymentArrangementPerformanceSharesValuationMethodExpectedVolatilityRate_documentation_en-US" xlink:label="lab_ms_ShareBasedPaymentArrangementPerformanceSharesValuationMethodExpectedVolatilityRate" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> The estimated measure of the percentage amount by which a share price is expected to fluctuate during the expected term of a performance share. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_ShareBasedPaymentArrangementPerformanceSharesValuationMethodExpectedVolatilityRate" xlink:href="ms-20231231.xsd#ms_ShareBasedPaymentArrangementPerformanceSharesValuationMethodExpectedVolatilityRate"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_ShareBasedPaymentArrangementPerformanceSharesValuationMethodExpectedVolatilityRate" xlink:to="lab_ms_ShareBasedPaymentArrangementPerformanceSharesValuationMethodExpectedVolatilityRate" xlink:type="arc" order="1"/>
<link:label id="lab_ms_CollateralizedTransactionsNotSubjectToLegallyEnforceableMasterNettingAgreementsAbstract_5c28951e-06b1-49f4-813c-f395f0b97c0d_terseLabel_en-US" xlink:label="lab_ms_CollateralizedTransactionsNotSubjectToLegallyEnforceableMasterNettingAgreementsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Net amounts for which master netting agreements are not in place or may not be legally enforceable </link:label>
<link:label id="lab_ms_CollateralizedTransactionsNotSubjectToLegallyEnforceableMasterNettingAgreementsAbstract_label_en-US" xlink:label="lab_ms_CollateralizedTransactionsNotSubjectToLegallyEnforceableMasterNettingAgreementsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Collateralized Transactions Not Subject to Legally Enforceable Master Netting Agreements [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_CollateralizedTransactionsNotSubjectToLegallyEnforceableMasterNettingAgreementsAbstract" xlink:href="ms-20231231.xsd#ms_CollateralizedTransactionsNotSubjectToLegallyEnforceableMasterNettingAgreementsAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_CollateralizedTransactionsNotSubjectToLegallyEnforceableMasterNettingAgreementsAbstract" xlink:to="lab_ms_CollateralizedTransactionsNotSubjectToLegallyEnforceableMasterNettingAgreementsAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DebtSecuritiesAvailableForSaleUnrealizedLossPositionFairValueTableTextBlock_31a21c89-b1fc-426d-8a9e-6f0f84bdca2c_terseLabel_en-US" xlink:label="lab_us-gaap_DebtSecuritiesAvailableForSaleUnrealizedLossPositionFairValueTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value </link:label>
<link:label id="lab_us-gaap_DebtSecuritiesAvailableForSaleUnrealizedLossPositionFairValueTableTextBlock_label_en-US" xlink:label="lab_us-gaap_DebtSecuritiesAvailableForSaleUnrealizedLossPositionFairValueTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtSecuritiesAvailableForSaleUnrealizedLossPositionFairValueTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DebtSecuritiesAvailableForSaleUnrealizedLossPositionFairValueTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtSecuritiesAvailableForSaleUnrealizedLossPositionFairValueTableTextBlock" xlink:to="lab_us-gaap_DebtSecuritiesAvailableForSaleUnrealizedLossPositionFairValueTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_PrivateEquityFundsMember_a72e4496-cdd9-4e28-9862-3f3971e9509e_terseLabel_en-US" xlink:label="lab_us-gaap_PrivateEquityFundsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Private equity </link:label>
<link:label id="lab_us-gaap_PrivateEquityFundsMember_label_en-US" xlink:label="lab_us-gaap_PrivateEquityFundsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Private Equity Funds [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_PrivateEquityFundsMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PrivateEquityFundsMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PrivateEquityFundsMember" xlink:to="lab_us-gaap_PrivateEquityFundsMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_CapitalToRiskWeightedAssets_35b8cc0e-45c3-4210-bec5-56972d478aa6_terseLabel_en-US" xlink:label="lab_us-gaap_CapitalToRiskWeightedAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Total capital (as a percent) </link:label>
<link:label id="lab_us-gaap_CapitalToRiskWeightedAssets_label_en-US" xlink:label="lab_us-gaap_CapitalToRiskWeightedAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Banking Regulation, Total Risk-Based Capital Ratio, Actual </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CapitalToRiskWeightedAssets" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CapitalToRiskWeightedAssets"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CapitalToRiskWeightedAssets" xlink:to="lab_us-gaap_CapitalToRiskWeightedAssets" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_PendingLitigationMember_e531e28a-7391-4c50-8e17-cb9d8a3b1c24_terseLabel_en-US" xlink:label="lab_us-gaap_PendingLitigationMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Pending Litigation </link:label>
<link:label id="lab_us-gaap_PendingLitigationMember_label_en-US" xlink:label="lab_us-gaap_PendingLitigationMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Pending Litigation [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_PendingLitigationMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PendingLitigationMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PendingLitigationMember" xlink:to="lab_us-gaap_PendingLitigationMember" xlink:type="arc" order="1"/>
<link:label id="lab_dei_DocumentTransitionReport_7ef868b3-7cf2-4422-aefd-930436354cc6_terseLabel_en-US" xlink:label="lab_dei_DocumentTransitionReport" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Document Transition Report </link:label>
<link:label id="lab_dei_DocumentTransitionReport_label_en-US" xlink:label="lab_dei_DocumentTransitionReport" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Document Transition Report </link:label>
<link:loc xlink:type="locator" xlink:label="loc_dei_DocumentTransitionReport" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentTransitionReport"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentTransitionReport" xlink:to="lab_dei_DocumentTransitionReport" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DebtSecuritiesHeldToMaturityExcludingAccruedInterestAfterAllowanceForCreditLoss_093b1a87-2292-4aa1-a7fa-5b574868dd66_terseLabel_en-US" xlink:label="lab_us-gaap_DebtSecuritiesHeldToMaturityExcludingAccruedInterestAfterAllowanceForCreditLoss" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Held-to-maturity (fair value of $57,453 and $65,006) </link:label>
<link:label id="lab_us-gaap_DebtSecuritiesHeldToMaturityExcludingAccruedInterestAfterAllowanceForCreditLoss_d3be2567-7c8b-4b5c-b9ee-183b32921d6c_verboseLabel_en-US" xlink:label="lab_us-gaap_DebtSecuritiesHeldToMaturityExcludingAccruedInterestAfterAllowanceForCreditLoss" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Held-to-maturity, fair value </link:label>
<link:label id="lab_us-gaap_DebtSecuritiesHeldToMaturityExcludingAccruedInterestAfterAllowanceForCreditLoss_label_en-US" xlink:label="lab_us-gaap_DebtSecuritiesHeldToMaturityExcludingAccruedInterestAfterAllowanceForCreditLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt Securities, Held-to-Maturity, Excluding Accrued Interest, after Allowance for Credit Loss </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtSecuritiesHeldToMaturityExcludingAccruedInterestAfterAllowanceForCreditLoss" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DebtSecuritiesHeldToMaturityExcludingAccruedInterestAfterAllowanceForCreditLoss"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtSecuritiesHeldToMaturityExcludingAccruedInterestAfterAllowanceForCreditLoss" xlink:to="lab_us-gaap_DebtSecuritiesHeldToMaturityExcludingAccruedInterestAfterAllowanceForCreditLoss" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_InterestExpenseMember_fbb75cc7-eda0-4ad0-9ef6-9d2eb0474e89_terseLabel_en-US" xlink:label="lab_us-gaap_InterestExpenseMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Interest expense </link:label>
<link:label id="lab_us-gaap_InterestExpenseMember_label_en-US" xlink:label="lab_us-gaap_InterestExpenseMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Interest Expense [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestExpenseMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_InterestExpenseMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestExpenseMember" xlink:to="lab_us-gaap_InterestExpenseMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_WellCapitalizedMinimumSupplementaryLeverageRatio_7658eb2e-f9bc-4ab8-805c-2f75bb39bfef_terseLabel_en-US" xlink:label="lab_ms_WellCapitalizedMinimumSupplementaryLeverageRatio" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> SLR (as a percent) </link:label>
<link:label id="lab_ms_WellCapitalizedMinimumSupplementaryLeverageRatio_label_en-US" xlink:label="lab_ms_WellCapitalizedMinimumSupplementaryLeverageRatio" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Well-Capitalized Minimum Supplementary Leverage Ratio </link:label>
<link:label id="lab_ms_WellCapitalizedMinimumSupplementaryLeverageRatio_documentation_en-US" xlink:label="lab_ms_WellCapitalizedMinimumSupplementaryLeverageRatio" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Well-Capitalized Minimum Supplementary Leverage Ratio </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_WellCapitalizedMinimumSupplementaryLeverageRatio" xlink:href="ms-20231231.xsd#ms_WellCapitalizedMinimumSupplementaryLeverageRatio"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_WellCapitalizedMinimumSupplementaryLeverageRatio" xlink:to="lab_ms_WellCapitalizedMinimumSupplementaryLeverageRatio" xlink:type="arc" order="1"/>
<link:label id="lab_ms_ProceedsFromRepaymentsOfOtherSecuredFinancings_6751d409-b771-4f65-8fb7-586adcd959cd_verboseLabel_en-US" xlink:label="lab_ms_ProceedsFromRepaymentsOfOtherSecuredFinancings" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other secured financings </link:label>
<link:label id="lab_ms_ProceedsFromRepaymentsOfOtherSecuredFinancings_label_en-US" xlink:label="lab_ms_ProceedsFromRepaymentsOfOtherSecuredFinancings" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Proceeds from (Repayments of) Other Secured Financings </link:label>
<link:label id="lab_ms_ProceedsFromRepaymentsOfOtherSecuredFinancings_documentation_en-US" xlink:label="lab_ms_ProceedsFromRepaymentsOfOtherSecuredFinancings" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> The net cash inflow (outflow) associated with other secured financing. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_ProceedsFromRepaymentsOfOtherSecuredFinancings" xlink:href="ms-20231231.xsd#ms_ProceedsFromRepaymentsOfOtherSecuredFinancings"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_ProceedsFromRepaymentsOfOtherSecuredFinancings" xlink:to="lab_ms_ProceedsFromRepaymentsOfOtherSecuredFinancings" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_WrittenLoanCommitmentFairValueOptionMember_eb75da3d-98a1-4c5a-996d-6eae35577823_terseLabel_en-US" xlink:label="lab_us-gaap_WrittenLoanCommitmentFairValueOptionMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Lending commitments </link:label>
<link:label id="lab_us-gaap_WrittenLoanCommitmentFairValueOptionMember_label_en-US" xlink:label="lab_us-gaap_WrittenLoanCommitmentFairValueOptionMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Written Loan Commitment, Fair Value Option [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_WrittenLoanCommitmentFairValueOptionMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_WrittenLoanCommitmentFairValueOptionMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_WrittenLoanCommitmentFairValueOptionMember" xlink:to="lab_us-gaap_WrittenLoanCommitmentFairValueOptionMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DerivativeInstrumentRiskAxis_3dc42809-0647-4572-b9c1-926347a79146_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentRiskAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative Instrument [Axis] </link:label>
<link:label id="lab_us-gaap_DerivativeInstrumentRiskAxis_label_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentRiskAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative Instrument [Axis] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeInstrumentRiskAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DerivativeInstrumentRiskAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeInstrumentRiskAxis" xlink:to="lab_us-gaap_DerivativeInstrumentRiskAxis" xlink:type="arc" order="1"/>
<link:label id="lab_ms_MeasurementInputWeightedAverageCostOfCapitalMember_66064c5e-7e09-407d-9355-eb8ff9bdfcb8_terseLabel_en-US" xlink:label="lab_ms_MeasurementInputWeightedAverageCostOfCapitalMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> WACC </link:label>
<link:label id="lab_ms_MeasurementInputWeightedAverageCostOfCapitalMember_label_en-US" xlink:label="lab_ms_MeasurementInputWeightedAverageCostOfCapitalMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Measurement Input, Weighted Average Cost of Capital [Member] </link:label>
<link:label id="lab_ms_MeasurementInputWeightedAverageCostOfCapitalMember_documentation_en-US" xlink:label="lab_ms_MeasurementInputWeightedAverageCostOfCapitalMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Measurement input using weighted average cost of capital (WACC), which theoretically represents the required rate of return to debt and equity investors. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_MeasurementInputWeightedAverageCostOfCapitalMember" xlink:href="ms-20231231.xsd#ms_MeasurementInputWeightedAverageCostOfCapitalMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_MeasurementInputWeightedAverageCostOfCapitalMember" xlink:to="lab_ms_MeasurementInputWeightedAverageCostOfCapitalMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FairValueByLiabilityClassAxis_649e2a3f-986b-42a6-8c38-c8041331251f_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueByLiabilityClassAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Liability Class [Axis] </link:label>
<link:label id="lab_us-gaap_FairValueByLiabilityClassAxis_label_en-US" xlink:label="lab_us-gaap_FairValueByLiabilityClassAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Liability Class [Axis] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueByLiabilityClassAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueByLiabilityClassAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueByLiabilityClassAxis" xlink:to="lab_us-gaap_FairValueByLiabilityClassAxis" xlink:type="arc" order="1"/>
<link:label id="lab_ms_CommitmentsForwardStartingReverseRepurchaseAgreementsMember_21cb120a-ed22-4758-a703-ef822eaadaa9_terseLabel_en-US" xlink:label="lab_ms_CommitmentsForwardStartingReverseRepurchaseAgreementsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Forward-starting secured financing receivables1 </link:label>
<link:label id="lab_ms_CommitmentsForwardStartingReverseRepurchaseAgreementsMember_label_en-US" xlink:label="lab_ms_CommitmentsForwardStartingReverseRepurchaseAgreementsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Commitments, Forward Starting Reverse Repurchase Agreements [Member] </link:label>
<link:label id="lab_ms_CommitmentsForwardStartingReverseRepurchaseAgreementsMember_documentation_en-US" xlink:label="lab_ms_CommitmentsForwardStartingReverseRepurchaseAgreementsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> This is an agreement to resell that primarily secured by collateral from U.S. government agency securities and other sovereign government obligations. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_CommitmentsForwardStartingReverseRepurchaseAgreementsMember" xlink:href="ms-20231231.xsd#ms_CommitmentsForwardStartingReverseRepurchaseAgreementsMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_CommitmentsForwardStartingReverseRepurchaseAgreementsMember" xlink:to="lab_ms_CommitmentsForwardStartingReverseRepurchaseAgreementsMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_DividendIncomeHoldingAndNonBankSubsidiaries_6c7b854d-194a-49ee-a5a9-b3b99a47c505_terseLabel_en-US" xlink:label="lab_ms_DividendIncomeHoldingAndNonBankSubsidiaries" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Dividends from BHC and non-bank subsidiaries </link:label>
<link:label id="lab_ms_DividendIncomeHoldingAndNonBankSubsidiaries_label_en-US" xlink:label="lab_ms_DividendIncomeHoldingAndNonBankSubsidiaries" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Dividend Income, Holding and Non-Bank Subsidiaries </link:label>
<link:label id="lab_ms_DividendIncomeHoldingAndNonBankSubsidiaries_documentation_en-US" xlink:label="lab_ms_DividendIncomeHoldingAndNonBankSubsidiaries" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Dividend Income, Holding and Non-Bank Subsidiaries </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_DividendIncomeHoldingAndNonBankSubsidiaries" xlink:href="ms-20231231.xsd#ms_DividendIncomeHoldingAndNonBankSubsidiaries"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_DividendIncomeHoldingAndNonBankSubsidiaries" xlink:to="lab_ms_DividendIncomeHoldingAndNonBankSubsidiaries" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTextBlock_266b0d36-1d82-4567-9064-04ed2d0d7cfd_terseLabel_en-US" xlink:label="lab_us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Assets by Business Segment </link:label>
<link:label id="lab_us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTextBlock_label_en-US" xlink:label="lab_us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Reconciliation of Assets from Segment to Consolidated [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTextBlock" xlink:to="lab_us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_ms_PensionAndOtherPostretirementBenefitsNetPeriodicBenefitCostsWeightedAverageAssumptionsTableTextBlock_5e846006-90ea-4c26-9653-49a0771e7d42_terseLabel_en-US" xlink:label="lab_ms_PensionAndOtherPostretirementBenefitsNetPeriodicBenefitCostsWeightedAverageAssumptionsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Weighted Average Assumptions Used to Determine Net Periodic Benefit Expense (Income) </link:label>
<link:label id="lab_ms_PensionAndOtherPostretirementBenefitsNetPeriodicBenefitCostsWeightedAverageAssumptionsTableTextBlock_label_en-US" xlink:label="lab_ms_PensionAndOtherPostretirementBenefitsNetPeriodicBenefitCostsWeightedAverageAssumptionsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Pension and Other Postretirement Benefits, Net Periodic Benefit Costs Weighted Average Assumptions [Table Text Block] </link:label>
<link:label id="lab_ms_PensionAndOtherPostretirementBenefitsNetPeriodicBenefitCostsWeightedAverageAssumptionsTableTextBlock_documentation_en-US" xlink:label="lab_ms_PensionAndOtherPostretirementBenefitsNetPeriodicBenefitCostsWeightedAverageAssumptionsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Pension and Other Postretirement Benefits, Net Periodic Benefit Costs Weighted Average Assumptions Disclosure. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_PensionAndOtherPostretirementBenefitsNetPeriodicBenefitCostsWeightedAverageAssumptionsTableTextBlock" xlink:href="ms-20231231.xsd#ms_PensionAndOtherPostretirementBenefitsNetPeriodicBenefitCostsWeightedAverageAssumptionsTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_PensionAndOtherPostretirementBenefitsNetPeriodicBenefitCostsWeightedAverageAssumptionsTableTextBlock" xlink:to="lab_ms_PensionAndOtherPostretirementBenefitsNetPeriodicBenefitCostsWeightedAverageAssumptionsTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_ms_FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerShareRedemptionPeriodAbstract_f328e937-6307-43a4-8ba4-8c918e249a06_terseLabel_en-US" xlink:label="lab_ms_FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerShareRedemptionPeriodAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Carrying Value of Nonredeemable Funds by Contractual Maturity </link:label>
<link:label id="lab_ms_FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerShareRedemptionPeriodAbstract_label_en-US" xlink:label="lab_ms_FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerShareRedemptionPeriodAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Redemption Period [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerShareRedemptionPeriodAbstract" xlink:href="ms-20231231.xsd#ms_FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerShareRedemptionPeriodAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerShareRedemptionPeriodAbstract" xlink:to="lab_ms_FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerShareRedemptionPeriodAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_ms_InvestmentManagementSegmentMember_fe1b5494-12ef-4e4d-af03-0bca172c90ea_terseLabel_en-US" xlink:label="lab_ms_InvestmentManagementSegmentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> IM </link:label>
<link:label id="lab_ms_InvestmentManagementSegmentMember_1b0b6754-9d4a-437f-9417-de515dd2748a_verboseLabel_en-US" xlink:label="lab_ms_InvestmentManagementSegmentMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Investment Management </link:label>
<link:label id="lab_ms_InvestmentManagementSegmentMember_label_en-US" xlink:label="lab_ms_InvestmentManagementSegmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Investment Management Segment [Member] </link:label>
<link:label id="lab_ms_InvestmentManagementSegmentMember_documentation_en-US" xlink:label="lab_ms_InvestmentManagementSegmentMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Investment Management business segment. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_InvestmentManagementSegmentMember" xlink:href="ms-20231231.xsd#ms_InvestmentManagementSegmentMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_InvestmentManagementSegmentMember" xlink:to="lab_ms_InvestmentManagementSegmentMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DerivativeAssets_01ca63b8-dbec-401d-bfca-915f21164012_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative and other contracts </link:label>
<link:label id="lab_us-gaap_DerivativeAssets_957dfdac-e022-42e0-a944-78cd06ff2267_verboseLabel_en-US" xlink:label="lab_us-gaap_DerivativeAssets" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative assets </link:label>
<link:label id="lab_us-gaap_DerivativeAssets_1bb36d3b-0117-4e3f-a236-4dee25c26073_totalLabel_en-US" xlink:label="lab_us-gaap_DerivativeAssets" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Total in Trading assets </link:label>
<link:label id="lab_us-gaap_DerivativeAssets_label_en-US" xlink:label="lab_us-gaap_DerivativeAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative Asset </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeAssets" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DerivativeAssets"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeAssets" xlink:to="lab_us-gaap_DerivativeAssets" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DeferredIncomeTaxExpenseBenefit_21b5ea25-b3c7-4606-ba53-9dbd90143845_totalLabel_en-US" xlink:label="lab_us-gaap_DeferredIncomeTaxExpenseBenefit" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Deferred income tax expense (benefit) </link:label>
<link:label id="lab_us-gaap_DeferredIncomeTaxExpenseBenefit_label_en-US" xlink:label="lab_us-gaap_DeferredIncomeTaxExpenseBenefit" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Deferred Income Tax Expense (Benefit) </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredIncomeTaxExpenseBenefit" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DeferredIncomeTaxExpenseBenefit"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredIncomeTaxExpenseBenefit" xlink:to="lab_us-gaap_DeferredIncomeTaxExpenseBenefit" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_SubsequentEventTypeAxis_d1adfc63-9304-471e-98fd-0ecb28392faa_terseLabel_en-US" xlink:label="lab_us-gaap_SubsequentEventTypeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Subsequent Event Type [Axis] </link:label>
<link:label id="lab_us-gaap_SubsequentEventTypeAxis_label_en-US" xlink:label="lab_us-gaap_SubsequentEventTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Subsequent Event Type [Axis] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_SubsequentEventTypeAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SubsequentEventTypeAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsequentEventTypeAxis" xlink:to="lab_us-gaap_SubsequentEventTypeAxis" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract_2d4afe35-cd84-4701-890d-3b374d311abc_terseLabel_en-US" xlink:label="lab_us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Statement of Comprehensive Income [Abstract] </link:label>
<link:label id="lab_us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract_label_en-US" xlink:label="lab_us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Statement of Comprehensive Income [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract" xlink:to="lab_us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_LoansHeldForSaleMeasurementInput_9c51ab5e-3f13-4873-a1a0-52b1b3117407_terseLabel_en-US" xlink:label="lab_us-gaap_LoansHeldForSaleMeasurementInput" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Loans, measurement input value </link:label>
<link:label id="lab_us-gaap_LoansHeldForSaleMeasurementInput_label_en-US" xlink:label="lab_us-gaap_LoansHeldForSaleMeasurementInput" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Loan, Held-for-Sale, Measurement Input </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LoansHeldForSaleMeasurementInput" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LoansHeldForSaleMeasurementInput"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LoansHeldForSaleMeasurementInput" xlink:to="lab_us-gaap_LoansHeldForSaleMeasurementInput" xlink:type="arc" order="1"/>
<link:label id="lab_ms_StatementOfFinancialPositionParentheticalDisclosuresAbstract_9fe8ca87-127b-4643-a37d-3c796af1dd92_terseLabel_en-US" xlink:label="lab_ms_StatementOfFinancialPositionParentheticalDisclosuresAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Statement of Financial Position Parenthetical Disclosures [Abstract] </link:label>
<link:label id="lab_ms_StatementOfFinancialPositionParentheticalDisclosuresAbstract_label_en-US" xlink:label="lab_ms_StatementOfFinancialPositionParentheticalDisclosuresAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Statement of Financial Position Parenthetical Disclosures [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_StatementOfFinancialPositionParentheticalDisclosuresAbstract" xlink:href="ms-20231231.xsd#ms_StatementOfFinancialPositionParentheticalDisclosuresAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_StatementOfFinancialPositionParentheticalDisclosuresAbstract" xlink:to="lab_ms_StatementOfFinancialPositionParentheticalDisclosuresAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_ms_NetIncomeLossBeforeUndistributedEarningsFromSubsidiaries_dc651351-41d4-4ac9-9540-b06cb0df2bb8_totalLabel_en-US" xlink:label="lab_ms_NetIncomeLossBeforeUndistributedEarningsFromSubsidiaries" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Net income before undistributed gain of subsidiaries </link:label>
<link:label id="lab_ms_NetIncomeLossBeforeUndistributedEarningsFromSubsidiaries_label_en-US" xlink:label="lab_ms_NetIncomeLossBeforeUndistributedEarningsFromSubsidiaries" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Net Income (Loss) before Undistributed Earnings from Subsidiaries </link:label>
<link:label id="lab_ms_NetIncomeLossBeforeUndistributedEarningsFromSubsidiaries_documentation_en-US" xlink:label="lab_ms_NetIncomeLossBeforeUndistributedEarningsFromSubsidiaries" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Net income (loss) before undistributed earnings from subsidiaries. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_NetIncomeLossBeforeUndistributedEarningsFromSubsidiaries" xlink:href="ms-20231231.xsd#ms_NetIncomeLossBeforeUndistributedEarningsFromSubsidiaries"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_NetIncomeLossBeforeUndistributedEarningsFromSubsidiaries" xlink:to="lab_ms_NetIncomeLossBeforeUndistributedEarningsFromSubsidiaries" xlink:type="arc" order="1"/>
<link:label id="lab_dei_DocumentFinStmtErrorCorrectionFlag_15395c71-5fdb-4629-9c3b-beb0e51be9d0_terseLabel_en-US" xlink:label="lab_dei_DocumentFinStmtErrorCorrectionFlag" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Document Financial Statement Error Correction [Flag] </link:label>
<link:label id="lab_dei_DocumentFinStmtErrorCorrectionFlag_label_en-US" xlink:label="lab_dei_DocumentFinStmtErrorCorrectionFlag" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Document Financial Statement Error Correction [Flag] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_dei_DocumentFinStmtErrorCorrectionFlag" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentFinStmtErrorCorrectionFlag"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentFinStmtErrorCorrectionFlag" xlink:to="lab_dei_DocumentFinStmtErrorCorrectionFlag" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueOutstanding_b3defa22-b419-43a8-9fa9-14c9a3604c30_terseLabel_en-US" xlink:label="lab_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueOutstanding" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Aggregate intrinsic value of RSUs </link:label>
<link:label id="lab_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueOutstanding_label_en-US" xlink:label="lab_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueOutstanding" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Outstanding </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueOutstanding" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueOutstanding"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueOutstanding" xlink:to="lab_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueOutstanding" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DepositsAbstract_f25cfcc3-e9d4-4917-aa3f-6f7268f952d2_terseLabel_en-US" xlink:label="lab_us-gaap_DepositsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Deposits [Abstract] </link:label>
<link:label id="lab_us-gaap_DepositsAbstract_label_en-US" xlink:label="lab_us-gaap_DepositsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Deposits [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DepositsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DepositsAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DepositsAbstract" xlink:to="lab_us-gaap_DepositsAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DefinedBenefitPlanAccumulatedBenefitObligation_cc78c3c5-c856-4acd-bdb3-2267ef69d1b7_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanAccumulatedBenefitObligation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Accumulated benefit obligation </link:label>
<link:label id="lab_us-gaap_DefinedBenefitPlanAccumulatedBenefitObligation_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanAccumulatedBenefitObligation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Defined Benefit Plan, Accumulated Benefit Obligation </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanAccumulatedBenefitObligation" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DefinedBenefitPlanAccumulatedBenefitObligation"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanAccumulatedBenefitObligation" xlink:to="lab_us-gaap_DefinedBenefitPlanAccumulatedBenefitObligation" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_981a41c2-ae8b-4682-81fc-e49c7a67fc33_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Year 1 </link:label>
<link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_label_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Long-Term Debt, Maturity, Year One </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:to="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_OperatingLeaseLiabilityStatementOfFinancialPositionExtensibleList_560165e1-ddd8-49c2-a6bf-ace573f3a279_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeaseLiabilityStatementOfFinancialPositionExtensibleList" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Operating Lease, Liability, Statement of Financial Position [Extensible List] </link:label>
<link:label id="lab_us-gaap_OperatingLeaseLiabilityStatementOfFinancialPositionExtensibleList_label_en-US" xlink:label="lab_us-gaap_OperatingLeaseLiabilityStatementOfFinancialPositionExtensibleList" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingLeaseLiabilityStatementOfFinancialPositionExtensibleList" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OperatingLeaseLiabilityStatementOfFinancialPositionExtensibleList"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingLeaseLiabilityStatementOfFinancialPositionExtensibleList" xlink:to="lab_us-gaap_OperatingLeaseLiabilityStatementOfFinancialPositionExtensibleList" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable_a37cc5e3-ac60-410c-b7a8-cb07bb08375d_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Segment Reporting Information, by Segment [Table] </link:label>
<link:label id="lab_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable_label_en-US" xlink:label="lab_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Segment Reporting Information, by Segment [Table] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable" xlink:to="lab_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable" xlink:type="arc" order="1"/>
<link:label id="lab_ms_AOCIDebtValuationAdjustmentNoncontrollingInterestMember_7ca9bbd7-bb19-4e76-bb10-33f0fa954590_terseLabel_en-US" xlink:label="lab_ms_AOCIDebtValuationAdjustmentNoncontrollingInterestMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Change in Net DVA Attributable to Noncontrolling Interest </link:label>
<link:label id="lab_ms_AOCIDebtValuationAdjustmentNoncontrollingInterestMember_label_en-US" xlink:label="lab_ms_AOCIDebtValuationAdjustmentNoncontrollingInterestMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> AOCI, Debt Valuation Adjustment, Noncontrolling Interest [Member] </link:label>
<link:label id="lab_ms_AOCIDebtValuationAdjustmentNoncontrollingInterestMember_documentation_en-US" xlink:label="lab_ms_AOCIDebtValuationAdjustmentNoncontrollingInterestMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> AOCI, Debt Valuation Adjustment, Noncontrolling Interest [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_AOCIDebtValuationAdjustmentNoncontrollingInterestMember" xlink:href="ms-20231231.xsd#ms_AOCIDebtValuationAdjustmentNoncontrollingInterestMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_AOCIDebtValuationAdjustmentNoncontrollingInterestMember" xlink:to="lab_ms_AOCIDebtValuationAdjustmentNoncontrollingInterestMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_OtherAssets_e18666c4-7ec8-491f-99a3-d88e9d1e5a9d_terseLabel_en-US" xlink:label="lab_us-gaap_OtherAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other assets </link:label>
<link:label id="lab_us-gaap_OtherAssets_label_en-US" xlink:label="lab_us-gaap_OtherAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other Assets </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherAssets" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OtherAssets"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherAssets" xlink:to="lab_us-gaap_OtherAssets" xlink:type="arc" order="1"/>
<link:label id="lab_ms_RevenueRemainingPerformanceObligationTableTextBlock_86fa2f63-b72c-4424-acac-5c9fd4bdad97_terseLabel_en-US" xlink:label="lab_ms_RevenueRemainingPerformanceObligationTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Revenue Recognized from Prior Services </link:label>
<link:label id="lab_ms_RevenueRemainingPerformanceObligationTableTextBlock_label_en-US" xlink:label="lab_ms_RevenueRemainingPerformanceObligationTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Revenue Remaining Performance Obligation [Table Text Block] </link:label>
<link:label id="lab_ms_RevenueRemainingPerformanceObligationTableTextBlock_documentation_en-US" xlink:label="lab_ms_RevenueRemainingPerformanceObligationTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Revenue Remaining Performance Obligation [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_RevenueRemainingPerformanceObligationTableTextBlock" xlink:href="ms-20231231.xsd#ms_RevenueRemainingPerformanceObligationTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_RevenueRemainingPerformanceObligationTableTextBlock" xlink:to="lab_ms_RevenueRemainingPerformanceObligationTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_dei_DocumentsIncorporatedByReferenceTextBlock_ba35ea83-9570-4812-84c3-ec2b09be0aeb_terseLabel_en-US" xlink:label="lab_dei_DocumentsIncorporatedByReferenceTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Documents Incorporated by Reference </link:label>
<link:label id="lab_dei_DocumentsIncorporatedByReferenceTextBlock_label_en-US" xlink:label="lab_dei_DocumentsIncorporatedByReferenceTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Documents Incorporated by Reference [Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_dei_DocumentsIncorporatedByReferenceTextBlock" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentsIncorporatedByReferenceTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentsIncorporatedByReferenceTextBlock" xlink:to="lab_dei_DocumentsIncorporatedByReferenceTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_TimeDepositLiabilityUninsuredMaturityOverTwelveMonths_687c3598-d8a1-440f-812b-4cc4ff108d77_terseLabel_en-US" xlink:label="lab_us-gaap_TimeDepositLiabilityUninsuredMaturityOverTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Over 12 months </link:label>
<link:label id="lab_us-gaap_TimeDepositLiabilityUninsuredMaturityOverTwelveMonths_label_en-US" xlink:label="lab_us-gaap_TimeDepositLiabilityUninsuredMaturityOverTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Time Deposit Liability, Uninsured, Maturity, over 12 Months </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_TimeDepositLiabilityUninsuredMaturityOverTwelveMonths" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_TimeDepositLiabilityUninsuredMaturityOverTwelveMonths"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TimeDepositLiabilityUninsuredMaturityOverTwelveMonths" xlink:to="lab_us-gaap_TimeDepositLiabilityUninsuredMaturityOverTwelveMonths" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ElectricityGenerationPlantNonNuclearMember_765fa53a-90fc-4422-9479-dcb4e4a5b7d5_terseLabel_en-US" xlink:label="lab_us-gaap_ElectricityGenerationPlantNonNuclearMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Power generation assets </link:label>
<link:label id="lab_us-gaap_ElectricityGenerationPlantNonNuclearMember_label_en-US" xlink:label="lab_us-gaap_ElectricityGenerationPlantNonNuclearMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Electricity Generation Plant, Non-Nuclear [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ElectricityGenerationPlantNonNuclearMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ElectricityGenerationPlantNonNuclearMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ElectricityGenerationPlantNonNuclearMember" xlink:to="lab_us-gaap_ElectricityGenerationPlantNonNuclearMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_BankingRegulationCapitalBufferRequirementAbstract_b5cc4e61-c6c6-4310-88fa-efaf640e1de6_terseLabel_en-US" xlink:label="lab_ms_BankingRegulationCapitalBufferRequirementAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Capital buffer requirement </link:label>
<link:label id="lab_ms_BankingRegulationCapitalBufferRequirementAbstract_label_en-US" xlink:label="lab_ms_BankingRegulationCapitalBufferRequirementAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Banking Regulation, Capital Buffer Requirement [Abstract] </link:label>
<link:label id="lab_ms_BankingRegulationCapitalBufferRequirementAbstract_documentation_en-US" xlink:label="lab_ms_BankingRegulationCapitalBufferRequirementAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Banking Regulation, Capital Buffer Requirement </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_BankingRegulationCapitalBufferRequirementAbstract" xlink:href="ms-20231231.xsd#ms_BankingRegulationCapitalBufferRequirementAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_BankingRegulationCapitalBufferRequirementAbstract" xlink:to="lab_ms_BankingRegulationCapitalBufferRequirementAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_SupplementaryLeverageRatio_63aba017-0011-4e59-9622-a7d9a85273e8_terseLabel_en-US" xlink:label="lab_us-gaap_SupplementaryLeverageRatio" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> SLR (as a percent) </link:label>
<link:label id="lab_us-gaap_SupplementaryLeverageRatio_label_en-US" xlink:label="lab_us-gaap_SupplementaryLeverageRatio" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Banking Regulation, Supplementary Leverage Ratio, Actual </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_SupplementaryLeverageRatio" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SupplementaryLeverageRatio"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SupplementaryLeverageRatio" xlink:to="lab_us-gaap_SupplementaryLeverageRatio" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_NonUsMember_c232e95d-5888-49a9-b566-ae8fa5142414_terseLabel_en-US" xlink:label="lab_us-gaap_NonUsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Non-U.S. </link:label>
<link:label id="lab_us-gaap_NonUsMember_label_en-US" xlink:label="lab_us-gaap_NonUsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Non-US [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_NonUsMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_NonUsMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NonUsMember" xlink:to="lab_us-gaap_NonUsMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms_cc2bb136-e080-448a-9a5d-e477eab055f6_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Weighted average remaining term </link:label>
<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Outstanding, Weighted Average Remaining Contractual Terms </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms" xlink:type="arc" order="1"/>
<link:label id="lab_ms_NonProsecutionAgreementTerm_26f7fab1-19fb-43f3-91b0-ae995d489d9d_terseLabel_en-US" xlink:label="lab_ms_NonProsecutionAgreementTerm" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Non-prosecution agreement term </link:label>
<link:label id="lab_ms_NonProsecutionAgreementTerm_label_en-US" xlink:label="lab_ms_NonProsecutionAgreementTerm" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Non-Prosecution Agreement Term </link:label>
<link:label id="lab_ms_NonProsecutionAgreementTerm_documentation_en-US" xlink:label="lab_ms_NonProsecutionAgreementTerm" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Non-Prosecution Agreement Term </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_NonProsecutionAgreementTerm" xlink:href="ms-20231231.xsd#ms_NonProsecutionAgreementTerm"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_NonProsecutionAgreementTerm" xlink:to="lab_ms_NonProsecutionAgreementTerm" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DesignatedAsHedgingInstrumentMember_642c9d28-5241-4b85-8d17-0fa3f1e8fe94_terseLabel_en-US" xlink:label="lab_us-gaap_DesignatedAsHedgingInstrumentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Designated as accounting hedges </link:label>
<link:label id="lab_us-gaap_DesignatedAsHedgingInstrumentMember_label_en-US" xlink:label="lab_us-gaap_DesignatedAsHedgingInstrumentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Designated as Hedging Instrument [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DesignatedAsHedgingInstrumentMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DesignatedAsHedgingInstrumentMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DesignatedAsHedgingInstrumentMember" xlink:to="lab_us-gaap_DesignatedAsHedgingInstrumentMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ValuationTechniqueDomain_6471907e-a9e3-4ae5-a76e-84436f058b8a_terseLabel_en-US" xlink:label="lab_us-gaap_ValuationTechniqueDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Valuation Approach and Technique [Domain] </link:label>
<link:label id="lab_us-gaap_ValuationTechniqueDomain_label_en-US" xlink:label="lab_us-gaap_ValuationTechniqueDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Valuation Approach and Technique [Domain] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ValuationTechniqueDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ValuationTechniqueDomain"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ValuationTechniqueDomain" xlink:to="lab_us-gaap_ValuationTechniqueDomain" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_EquityAbstract_2bae8311-0495-44be-baa5-a652856d5ce8_terseLabel_en-US" xlink:label="lab_us-gaap_EquityAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Equity [Abstract] </link:label>
<link:label id="lab_us-gaap_EquityAbstract_label_en-US" xlink:label="lab_us-gaap_EquityAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Equity [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_EquityAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_EquityAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityAbstract" xlink:to="lab_us-gaap_EquityAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_OperatingLeaseWeightedAverageRemainingLeaseTerm1_ba835608-886e-4498-8930-8d684aeecfa0_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeaseWeightedAverageRemainingLeaseTerm1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Remaining lease term, in years </link:label>
<link:label id="lab_us-gaap_OperatingLeaseWeightedAverageRemainingLeaseTerm1_label_en-US" xlink:label="lab_us-gaap_OperatingLeaseWeightedAverageRemainingLeaseTerm1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Operating Lease, Weighted Average Remaining Lease Term </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingLeaseWeightedAverageRemainingLeaseTerm1" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OperatingLeaseWeightedAverageRemainingLeaseTerm1"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingLeaseWeightedAverageRemainingLeaseTerm1" xlink:to="lab_us-gaap_OperatingLeaseWeightedAverageRemainingLeaseTerm1" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesCurrentAndNoncurrent_4f64769b-4115-49e9-8dc6-f2d84f2a9fd0_negatedLabel_en-US" xlink:label="lab_us-gaap_PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Liabilities </link:label>
<link:label id="lab_us-gaap_PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesCurrentAndNoncurrent_label_en-US" xlink:label="lab_us-gaap_PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Liability, Defined Benefit Plan </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesCurrentAndNoncurrent" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesCurrentAndNoncurrent"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesCurrentAndNoncurrent" xlink:to="lab_us-gaap_PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesCurrentAndNoncurrent" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_PreferredStockDividendsIncomeStatementImpact_b97a9a2c-85a6-40e0-bd77-0aca6787a3d5_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockDividendsIncomeStatementImpact" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Preferred stock dividends </link:label>
<link:label id="lab_us-gaap_PreferredStockDividendsIncomeStatementImpact_cce7bab6-1e92-4052-b66b-0a0710773b37_verboseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockDividendsIncomeStatementImpact" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Preferred stock dividends and other </link:label>
<link:label id="lab_us-gaap_PreferredStockDividendsIncomeStatementImpact_label_en-US" xlink:label="lab_us-gaap_PreferredStockDividendsIncomeStatementImpact" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Preferred Stock Dividends, Income Statement Impact </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_PreferredStockDividendsIncomeStatementImpact" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PreferredStockDividendsIncomeStatementImpact"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PreferredStockDividendsIncomeStatementImpact" xlink:to="lab_us-gaap_PreferredStockDividendsIncomeStatementImpact" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_PreferredStockRedemptionPricePerShare_899e87d7-628e-475d-aeec-8191646ce141_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockRedemptionPricePerShare" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Price per share (in dollars per share) </link:label>
<link:label id="lab_us-gaap_PreferredStockRedemptionPricePerShare_label_en-US" xlink:label="lab_us-gaap_PreferredStockRedemptionPricePerShare" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Preferred Stock, Redemption Price Per Share </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_PreferredStockRedemptionPricePerShare" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PreferredStockRedemptionPricePerShare"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PreferredStockRedemptionPricePerShare" xlink:to="lab_us-gaap_PreferredStockRedemptionPricePerShare" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired_b3c9ae19-d1f5-40ae-b6f3-be75ce124e6b_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Cash paid as part of the Eaton Vance acquisition, net of cash acquired </link:label>
<link:label id="lab_us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired_label_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Payments to Acquire Businesses, Net of Cash Acquired </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired" xlink:to="lab_us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired" xlink:type="arc" order="1"/>
<link:label id="lab_ms_SeriesIPreferredStockMember_0d68d81e-6e23-41c0-98c2-2161cb74e11e_verboseLabel_en-US" xlink:label="lab_ms_SeriesIPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Non-Cumulative Preferred Stock, Series I, $0.01 par value </link:label>
<link:label id="lab_ms_SeriesIPreferredStockMember_1ea37205-3205-4cf3-aa2f-cb12a5251d4b_terseLabel_en-US" xlink:label="lab_ms_SeriesIPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Series I </link:label>
<link:label id="lab_ms_SeriesIPreferredStockMember_label_en-US" xlink:label="lab_ms_SeriesIPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Series I Preferred Stock [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_SeriesIPreferredStockMember" xlink:href="ms-20231231.xsd#ms_SeriesIPreferredStockMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_SeriesIPreferredStockMember" xlink:to="lab_ms_SeriesIPreferredStockMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostExpectedLongTermReturnOnAssets_0b1b9b2c-b704-44cf-8aa7-553936072b25_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostExpectedLongTermReturnOnAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Expected long-term rate of return on plan assets (as a percent) </link:label>
<link:label id="lab_us-gaap_DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostExpectedLongTermReturnOnAssets_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostExpectedLongTermReturnOnAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-Term Rate of Return on Plan Assets </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostExpectedLongTermReturnOnAssets" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostExpectedLongTermReturnOnAssets"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostExpectedLongTermReturnOnAssets" xlink:to="lab_us-gaap_DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostExpectedLongTermReturnOnAssets" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_TreasuryStockSharesAcquired_5e82a5a1-01a1-4465-afce-5946f47833cb_negatedLabel_en-US" xlink:label="lab_us-gaap_TreasuryStockSharesAcquired" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Treasury stock purchases (in shares) </link:label>
<link:label id="lab_us-gaap_TreasuryStockSharesAcquired_label_en-US" xlink:label="lab_us-gaap_TreasuryStockSharesAcquired" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Treasury Stock, Shares, Acquired </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_TreasuryStockSharesAcquired" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_TreasuryStockSharesAcquired"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TreasuryStockSharesAcquired" xlink:to="lab_us-gaap_TreasuryStockSharesAcquired" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_OtherComprehensiveIncomeDefinedBenefitPlansTaxPortionAttributableToParent_1a92ce97-8f05-4ba1-b54c-e7d2fc96a3ec_terseLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeDefinedBenefitPlansTaxPortionAttributableToParent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Pensions and other </link:label>
<link:label id="lab_us-gaap_OtherComprehensiveIncomeDefinedBenefitPlansTaxPortionAttributableToParent_label_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeDefinedBenefitPlansTaxPortionAttributableToParent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, Tax, Attributable to Parent </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeDefinedBenefitPlansTaxPortionAttributableToParent" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OtherComprehensiveIncomeDefinedBenefitPlansTaxPortionAttributableToParent"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherComprehensiveIncomeDefinedBenefitPlansTaxPortionAttributableToParent" xlink:to="lab_us-gaap_OtherComprehensiveIncomeDefinedBenefitPlansTaxPortionAttributableToParent" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestNonaccrual_dc8463e2-396a-4dc7-92ee-a833cf355f07_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestNonaccrual" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Nonaccrual loans </link:label>
<link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestNonaccrual_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestNonaccrual" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financing Receivable, Excluding Accrued Interest, Nonaccrual </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableExcludingAccruedInterestNonaccrual" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FinancingReceivableExcludingAccruedInterestNonaccrual"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableExcludingAccruedInterestNonaccrual" xlink:to="lab_us-gaap_FinancingReceivableExcludingAccruedInterestNonaccrual" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_LossContingencyDamagesSoughtValue_d8cacce3-c3f5-4de8-81db-c9eb555dffc7_terseLabel_en-US" xlink:label="lab_us-gaap_LossContingencyDamagesSoughtValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Damages sought </link:label>
<link:label id="lab_us-gaap_LossContingencyDamagesSoughtValue_label_en-US" xlink:label="lab_us-gaap_LossContingencyDamagesSoughtValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Loss Contingency, Damages Sought, Value </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LossContingencyDamagesSoughtValue" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LossContingencyDamagesSoughtValue"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LossContingencyDamagesSoughtValue" xlink:to="lab_us-gaap_LossContingencyDamagesSoughtValue" xlink:type="arc" order="1"/>
<link:label id="lab_ms_NonredeemableFundsMaturityAfterFiveThroughTenYearsAtCarryingValue_8e9a5a0d-0bee-46f6-8e04-bddfe740c6eb_terseLabel_en-US" xlink:label="lab_ms_NonredeemableFundsMaturityAfterFiveThroughTenYearsAtCarryingValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> 5-10 years </link:label>
<link:label id="lab_ms_NonredeemableFundsMaturityAfterFiveThroughTenYearsAtCarryingValue_label_en-US" xlink:label="lab_ms_NonredeemableFundsMaturityAfterFiveThroughTenYearsAtCarryingValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Nonredeemable Funds, Maturity, after Five Through Ten Years, at Carrying Value </link:label>
<link:label id="lab_ms_NonredeemableFundsMaturityAfterFiveThroughTenYearsAtCarryingValue_documentation_en-US" xlink:label="lab_ms_NonredeemableFundsMaturityAfterFiveThroughTenYearsAtCarryingValue" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Carrying value of nonredeemable funds maturing in sixth through tenth fiscal year following latest fiscal year. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_NonredeemableFundsMaturityAfterFiveThroughTenYearsAtCarryingValue" xlink:href="ms-20231231.xsd#ms_NonredeemableFundsMaturityAfterFiveThroughTenYearsAtCarryingValue"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_NonredeemableFundsMaturityAfterFiveThroughTenYearsAtCarryingValue" xlink:to="lab_ms_NonredeemableFundsMaturityAfterFiveThroughTenYearsAtCarryingValue" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostDiscountRate_e8a7e69e-ceb0-4b27-9692-1408eb94f26b_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostDiscountRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Discount rate (as a percent) </link:label>
<link:label id="lab_us-gaap_DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostDiscountRate_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostDiscountRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostDiscountRate" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostDiscountRate"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostDiscountRate" xlink:to="lab_us-gaap_DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostDiscountRate" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DepositsFairValueDisclosure_f32f2fde-9c98-439f-a088-f2ba3b138e4f_verboseLabel_en-US" xlink:label="lab_us-gaap_DepositsFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Deposits at fair value </link:label>
<link:label id="lab_us-gaap_DepositsFairValueDisclosure_d1d8161c-c75f-47f9-b6e8-352ad7b9b4b9_terseLabel_en-US" xlink:label="lab_us-gaap_DepositsFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Deposits </link:label>
<link:label id="lab_us-gaap_DepositsFairValueDisclosure_label_en-US" xlink:label="lab_us-gaap_DepositsFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Deposits, Fair Value Disclosure </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DepositsFairValueDisclosure" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DepositsFairValueDisclosure"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DepositsFairValueDisclosure" xlink:to="lab_us-gaap_DepositsFairValueDisclosure" xlink:type="arc" order="1"/>
<link:label id="lab_srt_FinancingReceivableNonaccrualToOutstandingPercent_bf86bc40-330a-42ff-ae8a-9e44be622b98_terseLabel_en-US" xlink:label="lab_srt_FinancingReceivableNonaccrualToOutstandingPercent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Nonaccrual HFI loans to total HFI loans </link:label>
<link:label id="lab_srt_FinancingReceivableNonaccrualToOutstandingPercent_label_en-US" xlink:label="lab_srt_FinancingReceivableNonaccrualToOutstandingPercent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financing Receivable, Nonaccrual to Outstanding, Percent </link:label>
<link:loc xlink:type="locator" xlink:label="loc_srt_FinancingReceivableNonaccrualToOutstandingPercent" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_FinancingReceivableNonaccrualToOutstandingPercent"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_FinancingReceivableNonaccrualToOutstandingPercent" xlink:to="lab_srt_FinancingReceivableNonaccrualToOutstandingPercent" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DefinedContributionPlanDisclosuresTableTextBlock_575cc73c-8186-41e2-aa82-99706a4b0cf8_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedContributionPlanDisclosuresTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Morgan Stanley 401(k) Plan and Non-U.S. Defined Contribution Pension Plans </link:label>
<link:label id="lab_us-gaap_DefinedContributionPlanDisclosuresTableTextBlock_label_en-US" xlink:label="lab_us-gaap_DefinedContributionPlanDisclosuresTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Defined Contribution Plan Disclosures [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedContributionPlanDisclosuresTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DefinedContributionPlanDisclosuresTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedContributionPlanDisclosuresTableTextBlock" xlink:to="lab_us-gaap_DefinedContributionPlanDisclosuresTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_ms_OtherConsumerAndCommercialLoansMember_f9eb17b4-60ad-4f1a-a866-96bf6491d1a7_verboseLabel_en-US" xlink:label="lab_ms_OtherConsumerAndCommercialLoansMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other consumer or commercial loans </link:label>
<link:label id="lab_ms_OtherConsumerAndCommercialLoansMember_label_en-US" xlink:label="lab_ms_OtherConsumerAndCommercialLoansMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other Consumer and Commercial Loans [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_OtherConsumerAndCommercialLoansMember" xlink:href="ms-20231231.xsd#ms_OtherConsumerAndCommercialLoansMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_OtherConsumerAndCommercialLoansMember" xlink:to="lab_ms_OtherConsumerAndCommercialLoansMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_InterestAndDividendIncomeOperating_8aa144bf-e0dc-45e8-b4f0-969779523a81_terseLabel_en-US" xlink:label="lab_us-gaap_InterestAndDividendIncomeOperating" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Interest income </link:label>
<link:label id="lab_us-gaap_InterestAndDividendIncomeOperating_1ad7c68f-aef9-4f66-80da-75a1ba016e6f_totalLabel_en-US" xlink:label="lab_us-gaap_InterestAndDividendIncomeOperating" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Total interest income </link:label>
<link:label id="lab_us-gaap_InterestAndDividendIncomeOperating_label_en-US" xlink:label="lab_us-gaap_InterestAndDividendIncomeOperating" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Interest and Dividend Income, Operating </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestAndDividendIncomeOperating" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_InterestAndDividendIncomeOperating"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestAndDividendIncomeOperating" xlink:to="lab_us-gaap_InterestAndDividendIncomeOperating" xlink:type="arc" order="1"/>
<link:label id="lab_ms_ScheduleOfLitigationExpensesTableTextBlock_adc8704e-b6bf-4a57-9f05-063794423203_terseLabel_en-US" xlink:label="lab_ms_ScheduleOfLitigationExpensesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Legal Expenses </link:label>
<link:label id="lab_ms_ScheduleOfLitigationExpensesTableTextBlock_label_en-US" xlink:label="lab_ms_ScheduleOfLitigationExpensesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Litigation Expenses [Table Text Block] </link:label>
<link:label id="lab_ms_ScheduleOfLitigationExpensesTableTextBlock_documentation_en-US" xlink:label="lab_ms_ScheduleOfLitigationExpensesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Tabular disclosure of legal costs incurred on or before the balance sheet date pertaining to resolved, pending or threatened litigation, including arbitration and mediation proceedings. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_ScheduleOfLitigationExpensesTableTextBlock" xlink:href="ms-20231231.xsd#ms_ScheduleOfLitigationExpensesTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_ScheduleOfLitigationExpensesTableTextBlock" xlink:to="lab_ms_ScheduleOfLitigationExpensesTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_SecuritiesLoanedOrSoldUnderAgreementsToRepurchaseFairValueDisclosure_26534ad7-0548-42e0-9620-43adea2630fa_terseLabel_en-US" xlink:label="lab_us-gaap_SecuritiesLoanedOrSoldUnderAgreementsToRepurchaseFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Securities sold under agreements to repurchase at fair value </link:label>
<link:label id="lab_us-gaap_SecuritiesLoanedOrSoldUnderAgreementsToRepurchaseFairValueDisclosure_ace049ed-a7b7-4629-96e4-31b0e29a596d_verboseLabel_en-US" xlink:label="lab_us-gaap_SecuritiesLoanedOrSoldUnderAgreementsToRepurchaseFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Securities sold under agreements to repurchase </link:label>
<link:label id="lab_us-gaap_SecuritiesLoanedOrSoldUnderAgreementsToRepurchaseFairValueDisclosure_label_en-US" xlink:label="lab_us-gaap_SecuritiesLoanedOrSoldUnderAgreementsToRepurchaseFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Securities Loaned or Sold under Agreements to Repurchase, Fair Value Disclosure </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_SecuritiesLoanedOrSoldUnderAgreementsToRepurchaseFairValueDisclosure" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SecuritiesLoanedOrSoldUnderAgreementsToRepurchaseFairValueDisclosure"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SecuritiesLoanedOrSoldUnderAgreementsToRepurchaseFairValueDisclosure" xlink:to="lab_us-gaap_SecuritiesLoanedOrSoldUnderAgreementsToRepurchaseFairValueDisclosure" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesAfterTenYearsFairValue_cbce5cf3-feb7-410a-bb69-e8f33da41ccc_terseLabel_en-US" xlink:label="lab_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesAfterTenYearsFairValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> HTM securities: Fair value, after 10 years </link:label>
<link:label id="lab_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesAfterTenYearsFairValue_label_en-US" xlink:label="lab_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesAfterTenYearsFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 10 </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesAfterTenYearsFairValue" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_HeldToMaturitySecuritiesDebtMaturitiesAfterTenYearsFairValue"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesAfterTenYearsFairValue" xlink:to="lab_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesAfterTenYearsFairValue" xlink:type="arc" order="1"/>
<link:label id="lab_dei_CoverAbstract_cc1566f1-a64b-4693-939c-4c46a6220efa_terseLabel_en-US" xlink:label="lab_dei_CoverAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Cover [Abstract] </link:label>
<link:label id="lab_dei_CoverAbstract_label_en-US" xlink:label="lab_dei_CoverAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Cover [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_dei_CoverAbstract" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_CoverAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_CoverAbstract" xlink:to="lab_dei_CoverAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_AccumulatedDefinedBenefitPlansAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember_acf38e21-a901-4dad-b258-929d896d89e1_terseLabel_en-US" xlink:label="lab_us-gaap_AccumulatedDefinedBenefitPlansAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Pension and Other Including Noncontrolling Interest </link:label>
<link:label id="lab_us-gaap_AccumulatedDefinedBenefitPlansAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember_label_en-US" xlink:label="lab_us-gaap_AccumulatedDefinedBenefitPlansAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Accumulated Defined Benefit Plans Adjustment Including Portion Attributable to Noncontrolling Interest [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccumulatedDefinedBenefitPlansAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AccumulatedDefinedBenefitPlansAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccumulatedDefinedBenefitPlansAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember" xlink:to="lab_us-gaap_AccumulatedDefinedBenefitPlansAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_TimeDepositLiabilityUninsuredMaturityThreeMonthsOrLess_3cd19c95-2176-4ae6-aea4-680d3a12f7e6_terseLabel_en-US" xlink:label="lab_us-gaap_TimeDepositLiabilityUninsuredMaturityThreeMonthsOrLess" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Less than 3 months </link:label>
<link:label id="lab_us-gaap_TimeDepositLiabilityUninsuredMaturityThreeMonthsOrLess_label_en-US" xlink:label="lab_us-gaap_TimeDepositLiabilityUninsuredMaturityThreeMonthsOrLess" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Time Deposit Liability, Uninsured, Maturity, Three Months or Less </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_TimeDepositLiabilityUninsuredMaturityThreeMonthsOrLess" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_TimeDepositLiabilityUninsuredMaturityThreeMonthsOrLess"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TimeDepositLiabilityUninsuredMaturityThreeMonthsOrLess" xlink:to="lab_us-gaap_TimeDepositLiabilityUninsuredMaturityThreeMonthsOrLess" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_PaymentsOfDividends_bbe7c81d-0905-4abe-a06e-38169fd6bdaf_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsOfDividends" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Cash dividends </link:label>
<link:label id="lab_us-gaap_PaymentsOfDividends_0508f4e0-7a89-4699-83c0-a0c78c293863_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_PaymentsOfDividends" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Payments for cash dividends </link:label>
<link:label id="lab_us-gaap_PaymentsOfDividends_label_en-US" xlink:label="lab_us-gaap_PaymentsOfDividends" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Payments of Dividends </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsOfDividends" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PaymentsOfDividends"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsOfDividends" xlink:to="lab_us-gaap_PaymentsOfDividends" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_AllowanceForLoanAndLeaseLossesRollForward_e4485d46-b79b-4cbc-a4c5-4c8eb7674e05_terseLabel_en-US" xlink:label="lab_us-gaap_AllowanceForLoanAndLeaseLossesRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Allowance for loan losses rollforward </link:label>
<link:label id="lab_us-gaap_AllowanceForLoanAndLeaseLossesRollForward_label_en-US" xlink:label="lab_us-gaap_AllowanceForLoanAndLeaseLossesRollForward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Allowance for Loan and Lease Losses [Roll Forward] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AllowanceForLoanAndLeaseLossesRollForward" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AllowanceForLoanAndLeaseLossesRollForward"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AllowanceForLoanAndLeaseLossesRollForward" xlink:to="lab_us-gaap_AllowanceForLoanAndLeaseLossesRollForward" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ScheduleOfGuaranteeObligationsTextBlock_70a1fcb1-545b-4618-a6ff-33f2370cdd67_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfGuaranteeObligationsTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Obligations under Guarantee Arrangements </link:label>
<link:label id="lab_us-gaap_ScheduleOfGuaranteeObligationsTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfGuaranteeObligationsTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Guarantor Obligations [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfGuaranteeObligationsTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfGuaranteeObligationsTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfGuaranteeObligationsTextBlock" xlink:to="lab_us-gaap_ScheduleOfGuaranteeObligationsTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_SecuritiesBorrowedAbstract_585eae87-918c-499a-a6d6-a12b889ed5d9_terseLabel_en-US" xlink:label="lab_us-gaap_SecuritiesBorrowedAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Securities borrowed </link:label>
<link:label id="lab_us-gaap_SecuritiesBorrowedAbstract_label_en-US" xlink:label="lab_us-gaap_SecuritiesBorrowedAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Securities Borrowed [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_SecuritiesBorrowedAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SecuritiesBorrowedAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SecuritiesBorrowedAbstract" xlink:to="lab_us-gaap_SecuritiesBorrowedAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_LongTermDebtWeightedAverageInterestRateOverTime_09468161-1876-4e79-bdc6-a493f2d060f8_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtWeightedAverageInterestRateOverTime" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Contractual weighted average coupon (as a percent) </link:label>
<link:label id="lab_us-gaap_LongTermDebtWeightedAverageInterestRateOverTime_label_en-US" xlink:label="lab_us-gaap_LongTermDebtWeightedAverageInterestRateOverTime" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Long-Term Debt, Weighted Average Interest Rate, over Time </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtWeightedAverageInterestRateOverTime" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LongTermDebtWeightedAverageInterestRateOverTime"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtWeightedAverageInterestRateOverTime" xlink:to="lab_us-gaap_LongTermDebtWeightedAverageInterestRateOverTime" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_AmountOfRestrictedNetAssetsForConsolidatedAndUnconsolidatedSubsidiaries_a5da6571-e77d-43d7-9ead-afe9031b7ef6_terseLabel_en-US" xlink:label="lab_us-gaap_AmountOfRestrictedNetAssetsForConsolidatedAndUnconsolidatedSubsidiaries" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Restricted net assets </link:label>
<link:label id="lab_us-gaap_AmountOfRestrictedNetAssetsForConsolidatedAndUnconsolidatedSubsidiaries_label_en-US" xlink:label="lab_us-gaap_AmountOfRestrictedNetAssetsForConsolidatedAndUnconsolidatedSubsidiaries" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Amount of Restricted Net Assets for Consolidated and Unconsolidated Subsidiaries </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AmountOfRestrictedNetAssetsForConsolidatedAndUnconsolidatedSubsidiaries" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AmountOfRestrictedNetAssetsForConsolidatedAndUnconsolidatedSubsidiaries"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AmountOfRestrictedNetAssetsForConsolidatedAndUnconsolidatedSubsidiaries" xlink:to="lab_us-gaap_AmountOfRestrictedNetAssetsForConsolidatedAndUnconsolidatedSubsidiaries" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_SegmentReportingDisclosureTextBlock_882fbca9-e343-4735-92fb-88b4e36d082a_terseLabel_en-US" xlink:label="lab_us-gaap_SegmentReportingDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Segment, Geographic and Revenue Information </link:label>
<link:label id="lab_us-gaap_SegmentReportingDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_SegmentReportingDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Segment Reporting Disclosure [Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_SegmentReportingDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SegmentReportingDisclosureTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SegmentReportingDisclosureTextBlock" xlink:to="lab_us-gaap_SegmentReportingDisclosureTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ForeignGovernmentDebtSecuritiesMember_03e2a7e7-4c7f-4012-ade4-61aa572c102b_verboseLabel_en-US" xlink:label="lab_us-gaap_ForeignGovernmentDebtSecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other sovereign government obligations </link:label>
<link:label id="lab_us-gaap_ForeignGovernmentDebtSecuritiesMember_84db3ba7-4ea9-4f7b-af56-17ce9f2b93ca_terseLabel_en-US" xlink:label="lab_us-gaap_ForeignGovernmentDebtSecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other sovereign government obligations </link:label>
<link:label id="lab_us-gaap_ForeignGovernmentDebtSecuritiesMember_label_en-US" xlink:label="lab_us-gaap_ForeignGovernmentDebtSecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt Security, Government, Non-US [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ForeignGovernmentDebtSecuritiesMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ForeignGovernmentDebtSecuritiesMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ForeignGovernmentDebtSecuritiesMember" xlink:to="lab_us-gaap_ForeignGovernmentDebtSecuritiesMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_14a16531-a335-4892-9a26-80e1fd44fd1a_totalLabel_en-US" xlink:label="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Net increase (decrease) in cash and cash equivalents </link:label>
<link:label id="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_label_en-US" xlink:label="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect" xlink:to="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_HedgedLiabilityFairValueHedgeCumulativeIncreaseDecrease_12262005-5feb-48fb-bea3-8bcc5243ebcd_terseLabel_en-US" xlink:label="lab_us-gaap_HedgedLiabilityFairValueHedgeCumulativeIncreaseDecrease" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Basis adjustments included in carrying amount—Outstanding hedges </link:label>
<link:label id="lab_us-gaap_HedgedLiabilityFairValueHedgeCumulativeIncreaseDecrease_label_en-US" xlink:label="lab_us-gaap_HedgedLiabilityFairValueHedgeCumulativeIncreaseDecrease" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Hedged Liability, Fair Value Hedge, Cumulative Increase (Decrease) </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_HedgedLiabilityFairValueHedgeCumulativeIncreaseDecrease" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_HedgedLiabilityFairValueHedgeCumulativeIncreaseDecrease"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_HedgedLiabilityFairValueHedgeCumulativeIncreaseDecrease" xlink:to="lab_us-gaap_HedgedLiabilityFairValueHedgeCumulativeIncreaseDecrease" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_SecuredDebtMember_874565d5-edb2-4ff7-b192-70d897f54908_terseLabel_en-US" xlink:label="lab_us-gaap_SecuredDebtMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Secured Financings </link:label>
<link:label id="lab_us-gaap_SecuredDebtMember_label_en-US" xlink:label="lab_us-gaap_SecuredDebtMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Secured Debt [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_SecuredDebtMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SecuredDebtMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SecuredDebtMember" xlink:to="lab_us-gaap_SecuredDebtMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_EquityComponentDomain_dd4bf82f-b65d-4606-830c-4ada4ca92ad3_terseLabel_en-US" xlink:label="lab_us-gaap_EquityComponentDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Equity Component [Domain] </link:label>
<link:label id="lab_us-gaap_EquityComponentDomain_label_en-US" xlink:label="lab_us-gaap_EquityComponentDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Equity Component [Domain] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_EquityComponentDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_EquityComponentDomain"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityComponentDomain" xlink:to="lab_us-gaap_EquityComponentDomain" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_TextBlockAbstract_label_en-US" xlink:label="lab_us-gaap_TextBlockAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Text Block [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_TextBlockAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_TextBlockAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TextBlockAbstract" xlink:to="lab_us-gaap_TextBlockAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_LongTermDebtAbstract_f710799f-5814-49aa-8860-62d198957ee4_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Original maturities greater than one year </link:label>
<link:label id="lab_us-gaap_LongTermDebtAbstract_label_en-US" xlink:label="lab_us-gaap_LongTermDebtAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Long-Term Debt, Unclassified [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LongTermDebtAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtAbstract" xlink:to="lab_us-gaap_LongTermDebtAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_dei_EntityCurrentReportingStatus_14a1da5c-0669-41e7-9082-0ca5c02c0114_terseLabel_en-US" xlink:label="lab_dei_EntityCurrentReportingStatus" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Entity Current Reporting Status </link:label>
<link:label id="lab_dei_EntityCurrentReportingStatus_label_en-US" xlink:label="lab_dei_EntityCurrentReportingStatus" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Entity Current Reporting Status </link:label>
<link:loc xlink:type="locator" xlink:label="loc_dei_EntityCurrentReportingStatus" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityCurrentReportingStatus"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityCurrentReportingStatus" xlink:to="lab_dei_EntityCurrentReportingStatus" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ConcentrationRiskTypeDomain_05ec5209-2d46-4617-94ed-8fa49210f787_terseLabel_en-US" xlink:label="lab_us-gaap_ConcentrationRiskTypeDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Concentration Risk Type [Domain] </link:label>
<link:label id="lab_us-gaap_ConcentrationRiskTypeDomain_label_en-US" xlink:label="lab_us-gaap_ConcentrationRiskTypeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Concentration Risk Type [Domain] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ConcentrationRiskTypeDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ConcentrationRiskTypeDomain"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ConcentrationRiskTypeDomain" xlink:to="lab_us-gaap_ConcentrationRiskTypeDomain" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_CashFlowsBetweenTransfereeAndTransferorReceiptsOnInterestsThatContinueToBeHeldOther_8484c0d1-0570-4a58-8e28-aa8e791a4965_terseLabel_en-US" xlink:label="lab_us-gaap_CashFlowsBetweenTransfereeAndTransferorReceiptsOnInterestsThatContinueToBeHeldOther" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Retained interests </link:label>
<link:label id="lab_us-gaap_CashFlowsBetweenTransfereeAndTransferorReceiptsOnInterestsThatContinueToBeHeldOther_label_en-US" xlink:label="lab_us-gaap_CashFlowsBetweenTransfereeAndTransferorReceiptsOnInterestsThatContinueToBeHeldOther" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Cash Flows Between Transferor and Transferee, Receipts on Transferor's Interest in Transferred Financial Assets, Other </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashFlowsBetweenTransfereeAndTransferorReceiptsOnInterestsThatContinueToBeHeldOther" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CashFlowsBetweenTransfereeAndTransferorReceiptsOnInterestsThatContinueToBeHeldOther"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashFlowsBetweenTransfereeAndTransferorReceiptsOnInterestsThatContinueToBeHeldOther" xlink:to="lab_us-gaap_CashFlowsBetweenTransfereeAndTransferorReceiptsOnInterestsThatContinueToBeHeldOther" xlink:type="arc" order="1"/>
<link:label id="lab_ms_MSAndCoMember_0dad2967-aa48-4da8-a602-d3080459aee5_terseLabel_en-US" xlink:label="lab_ms_MSAndCoMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> MS&Co. </link:label>
<link:label id="lab_ms_MSAndCoMember_label_en-US" xlink:label="lab_ms_MSAndCoMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> M S and Co. [Member] </link:label>
<link:label id="lab_ms_MSAndCoMember_documentation_en-US" xlink:label="lab_ms_MSAndCoMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Morgan Stanley & Co. LLC </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_MSAndCoMember" xlink:href="ms-20231231.xsd#ms_MSAndCoMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_MSAndCoMember" xlink:to="lab_ms_MSAndCoMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearThree_74494492-8e01-4446-86e3-ac1e56c25eea_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearThree" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> 2026 </link:label>
<link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearThree_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearThree" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Finite-Lived Intangible Assets, Amortization Expense, Rolling Year Three </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearThree" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearThree"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearThree" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearThree" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_MaturityUpTo30DaysMember_905e9cd4-1ce7-49b6-b29a-79ad37d19d56_terseLabel_en-US" xlink:label="lab_us-gaap_MaturityUpTo30DaysMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Less than 30 Days </link:label>
<link:label id="lab_us-gaap_MaturityUpTo30DaysMember_label_en-US" xlink:label="lab_us-gaap_MaturityUpTo30DaysMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Maturity Less than 30 Days [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_MaturityUpTo30DaysMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_MaturityUpTo30DaysMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MaturityUpTo30DaysMember" xlink:to="lab_us-gaap_MaturityUpTo30DaysMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_SeriesMPreferredStockMember_4df63ae4-14fa-4283-9d73-c883c37aeac1_terseLabel_en-US" xlink:label="lab_ms_SeriesMPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Series M </link:label>
<link:label id="lab_ms_SeriesMPreferredStockMember_label_en-US" xlink:label="lab_ms_SeriesMPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Series M Preferred Stock [Member] </link:label>
<link:label id="lab_ms_SeriesMPreferredStockMember_documentation_en-US" xlink:label="lab_ms_SeriesMPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Series M Preferred Stock </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_SeriesMPreferredStockMember" xlink:href="ms-20231231.xsd#ms_SeriesMPreferredStockMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_SeriesMPreferredStockMember" xlink:to="lab_ms_SeriesMPreferredStockMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_SubordinatedDebt_dc16cfa0-ad1f-4f9a-b35c-533d288b37b1_terseLabel_en-US" xlink:label="lab_us-gaap_SubordinatedDebt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Subordinated </link:label>
<link:label id="lab_us-gaap_SubordinatedDebt_label_en-US" xlink:label="lab_us-gaap_SubordinatedDebt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Subordinated Debt </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_SubordinatedDebt" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SubordinatedDebt"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubordinatedDebt" xlink:to="lab_us-gaap_SubordinatedDebt" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_OtherComprehensiveIncomeLocationAxis_30a38789-0adf-4793-981b-aa45bfb5b167_terseLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLocationAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other Comprehensive Income Location [Axis] </link:label>
<link:label id="lab_us-gaap_OtherComprehensiveIncomeLocationAxis_label_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLocationAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other Comprehensive Income Location [Axis] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLocationAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OtherComprehensiveIncomeLocationAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherComprehensiveIncomeLocationAxis" xlink:to="lab_us-gaap_OtherComprehensiveIncomeLocationAxis" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ScheduleOfEntityWideInformationRevenueFromExternalCustomersByProductsAndServicesTable_e01a0611-8555-435d-84aa-755f30aaa750_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfEntityWideInformationRevenueFromExternalCustomersByProductsAndServicesTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Revenue from External Customers by Products and Services [Table] </link:label>
<link:label id="lab_us-gaap_ScheduleOfEntityWideInformationRevenueFromExternalCustomersByProductsAndServicesTable_label_en-US" xlink:label="lab_us-gaap_ScheduleOfEntityWideInformationRevenueFromExternalCustomersByProductsAndServicesTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Revenue from External Customers by Products and Services [Table] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfEntityWideInformationRevenueFromExternalCustomersByProductsAndServicesTable" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfEntityWideInformationRevenueFromExternalCustomersByProductsAndServicesTable"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfEntityWideInformationRevenueFromExternalCustomersByProductsAndServicesTable" xlink:to="lab_us-gaap_ScheduleOfEntityWideInformationRevenueFromExternalCustomersByProductsAndServicesTable" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_TimeDepositMaturitiesYearFive_b637dabb-42f8-4061-8bda-b89c176ae3e4_terseLabel_en-US" xlink:label="lab_us-gaap_TimeDepositMaturitiesYearFive" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> 2028 </link:label>
<link:label id="lab_us-gaap_TimeDepositMaturitiesYearFive_label_en-US" xlink:label="lab_us-gaap_TimeDepositMaturitiesYearFive" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Time Deposit Maturities, Year Five </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_TimeDepositMaturitiesYearFive" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_TimeDepositMaturitiesYearFive"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TimeDepositMaturitiesYearFive" xlink:to="lab_us-gaap_TimeDepositMaturitiesYearFive" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_EstimateOfFairValueFairValueDisclosureMember_19bab757-68e2-4d43-8d93-d4aa40dc6f79_verboseLabel_en-US" xlink:label="lab_us-gaap_EstimateOfFairValueFairValueDisclosureMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value </link:label>
<link:label id="lab_us-gaap_EstimateOfFairValueFairValueDisclosureMember_label_en-US" xlink:label="lab_us-gaap_EstimateOfFairValueFairValueDisclosureMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Estimate of Fair Value Measurement [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_EstimateOfFairValueFairValueDisclosureMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_EstimateOfFairValueFairValueDisclosureMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EstimateOfFairValueFairValueDisclosureMember" xlink:to="lab_us-gaap_EstimateOfFairValueFairValueDisclosureMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_PropertyPlantAndEquipmentPolicyTextBlock_c085ee66-ed70-473f-960f-0b5c4ff4ac79_terseLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Premises, Equipment and Capitalized Software Costs </link:label>
<link:label id="lab_us-gaap_PropertyPlantAndEquipmentPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Property, Plant and Equipment, Policy [Policy Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PropertyPlantAndEquipmentPolicyTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentPolicyTextBlock" xlink:to="lab_us-gaap_PropertyPlantAndEquipmentPolicyTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_ms_CommitmentsInvestmentActivitiesMember_e50e9f57-96eb-4d75-9de6-659c52fc1324_terseLabel_en-US" xlink:label="lab_ms_CommitmentsInvestmentActivitiesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Investment activities </link:label>
<link:label id="lab_ms_CommitmentsInvestmentActivitiesMember_label_en-US" xlink:label="lab_ms_CommitmentsInvestmentActivitiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Commitments, Investment Activities [Member] </link:label>
<link:label id="lab_ms_CommitmentsInvestmentActivitiesMember_documentation_en-US" xlink:label="lab_ms_CommitmentsInvestmentActivitiesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Commitment associated with its real estate, private equity and principal investment activities, which include alternative products. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_CommitmentsInvestmentActivitiesMember" xlink:href="ms-20231231.xsd#ms_CommitmentsInvestmentActivitiesMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_CommitmentsInvestmentActivitiesMember" xlink:to="lab_ms_CommitmentsInvestmentActivitiesMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_CentralCounterpartyCommitmentMember_04cd9ed9-0e46-452b-92dd-446009354655_terseLabel_en-US" xlink:label="lab_ms_CentralCounterpartyCommitmentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Central counterparty </link:label>
<link:label id="lab_ms_CentralCounterpartyCommitmentMember_label_en-US" xlink:label="lab_ms_CentralCounterpartyCommitmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Central Counterparty Commitment [Member] </link:label>
<link:label id="lab_ms_CentralCounterpartyCommitmentMember_documentation_en-US" xlink:label="lab_ms_CentralCounterpartyCommitmentMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Central Counterparty Commitment [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_CentralCounterpartyCommitmentMember" xlink:href="ms-20231231.xsd#ms_CentralCounterpartyCommitmentMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_CentralCounterpartyCommitmentMember" xlink:to="lab_ms_CentralCounterpartyCommitmentMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_EquityContractMember_e98361d5-a87d-4827-80b7-28134cc61bdd_terseLabel_en-US" xlink:label="lab_us-gaap_EquityContractMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Equity </link:label>
<link:label id="lab_us-gaap_EquityContractMember_9db06a8e-994a-41d7-8e5a-14a7b92f8f43_verboseLabel_en-US" xlink:label="lab_us-gaap_EquityContractMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Equity Derivatives </link:label>
<link:label id="lab_us-gaap_EquityContractMember_label_en-US" xlink:label="lab_us-gaap_EquityContractMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Equity Contract [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_EquityContractMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_EquityContractMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityContractMember" xlink:to="lab_us-gaap_EquityContractMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract_0daa79ea-15e7-494c-bf23-427ee94c5ba8_terseLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Equity </link:label>
<link:label id="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract_label_en-US" xlink:label="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Equity, Including Portion Attributable to Noncontrolling Interest [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract" xlink:to="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_ms_FinancialAsset90DaysPastDueMember_533535a1-9e1c-45e2-95e4-745baca3bdba_terseLabel_en-US" xlink:label="lab_ms_FinancialAsset90DaysPastDueMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> 90+ Days Past Due </link:label>
<link:label id="lab_ms_FinancialAsset90DaysPastDueMember_label_en-US" xlink:label="lab_ms_FinancialAsset90DaysPastDueMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financial Asset, 90+ Days Past Due [Member] </link:label>
<link:label id="lab_ms_FinancialAsset90DaysPastDueMember_documentation_en-US" xlink:label="lab_ms_FinancialAsset90DaysPastDueMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financial Asset, 90+ Days Past Due </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_FinancialAsset90DaysPastDueMember" xlink:href="ms-20231231.xsd#ms_FinancialAsset90DaysPastDueMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_FinancialAsset90DaysPastDueMember" xlink:to="lab_ms_FinancialAsset90DaysPastDueMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_TimeDepositLiabilityUninsuredMaturityOverSixMonthsThroughTwelveMonths_8dad368e-d59a-49bf-9cc4-dfdfa89a171e_terseLabel_en-US" xlink:label="lab_us-gaap_TimeDepositLiabilityUninsuredMaturityOverSixMonthsThroughTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> 6 - 12 months </link:label>
<link:label id="lab_us-gaap_TimeDepositLiabilityUninsuredMaturityOverSixMonthsThroughTwelveMonths_label_en-US" xlink:label="lab_us-gaap_TimeDepositLiabilityUninsuredMaturityOverSixMonthsThroughTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Time Deposit Liability, Uninsured, Maturity, over 6 Months through 12 Months </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_TimeDepositLiabilityUninsuredMaturityOverSixMonthsThroughTwelveMonths" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_TimeDepositLiabilityUninsuredMaturityOverSixMonthsThroughTwelveMonths"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TimeDepositLiabilityUninsuredMaturityOverSixMonthsThroughTwelveMonths" xlink:to="lab_us-gaap_TimeDepositLiabilityUninsuredMaturityOverSixMonthsThroughTwelveMonths" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings_ea79ba09-8672-40a5-be1c-d1db89c14738_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Realized and unrealized losses (gains) </link:label>
<link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings_label_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included in Earnings </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings" xlink:to="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearFive_a277a764-8849-4a9c-a7db-513cb94c4033_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearFive" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> 2028 </link:label>
<link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearFive_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearFive" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Finite-Lived Intangible Assets, Amortization Expense, Rolling Year Five </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearFive" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearFive"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearFive" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearFive" xlink:type="arc" order="1"/>
<link:label id="lab_srt_RangeMember_17eef5e4-f598-477f-81d2-db1b5a4d4c60_terseLabel_en-US" xlink:label="lab_srt_RangeMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Statistical Measurement [Domain] </link:label>
<link:label id="lab_srt_RangeMember_label_en-US" xlink:label="lab_srt_RangeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Statistical Measurement [Domain] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_srt_RangeMember" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_RangeMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_RangeMember" xlink:to="lab_srt_RangeMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DerivativeLiabilityNotionalAmount_60df8847-9ee7-4e49-9ce3-6a6243a44c71_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeLiabilityNotionalAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative liabilities </link:label>
<link:label id="lab_us-gaap_DerivativeLiabilityNotionalAmount_label_en-US" xlink:label="lab_us-gaap_DerivativeLiabilityNotionalAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative Liability, Notional Amount </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeLiabilityNotionalAmount" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DerivativeLiabilityNotionalAmount"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeLiabilityNotionalAmount" xlink:to="lab_us-gaap_DerivativeLiabilityNotionalAmount" xlink:type="arc" order="1"/>
<link:label id="lab_ms_SeriesNPreferredStockMember_23d83a52-a7ae-45f2-89be-9c001b5c2ae0_terseLabel_en-US" xlink:label="lab_ms_SeriesNPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Series N </link:label>
<link:label id="lab_ms_SeriesNPreferredStockMember_label_en-US" xlink:label="lab_ms_SeriesNPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Series N Preferred Stock [Member] </link:label>
<link:label id="lab_ms_SeriesNPreferredStockMember_documentation_en-US" xlink:label="lab_ms_SeriesNPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Series N Preferred Stock </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_SeriesNPreferredStockMember" xlink:href="ms-20231231.xsd#ms_SeriesNPreferredStockMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_SeriesNPreferredStockMember" xlink:to="lab_ms_SeriesNPreferredStockMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_VariableRateMember_a0e5bede-c2e9-4f08-aa3c-656db94c5db5_terseLabel_en-US" xlink:label="lab_ms_VariableRateMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Variable Rate </link:label>
<link:label id="lab_ms_VariableRateMember_label_en-US" xlink:label="lab_ms_VariableRateMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Variable Rate [Member] </link:label>
<link:label id="lab_ms_VariableRateMember_documentation_en-US" xlink:label="lab_ms_VariableRateMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Variable interest rate. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_VariableRateMember" xlink:href="ms-20231231.xsd#ms_VariableRateMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_VariableRateMember" xlink:to="lab_ms_VariableRateMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_MeasurementInputMarginLoanMember_6cc80d46-9f0e-4db1-a30b-3b9d39e65d76_terseLabel_en-US" xlink:label="lab_ms_MeasurementInputMarginLoanMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Margin Loan Rate </link:label>
<link:label id="lab_ms_MeasurementInputMarginLoanMember_label_en-US" xlink:label="lab_ms_MeasurementInputMarginLoanMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Measurement Input, Margin Loan [Member] </link:label>
<link:label id="lab_ms_MeasurementInputMarginLoanMember_documentation_en-US" xlink:label="lab_ms_MeasurementInputMarginLoanMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Measurement Input, Margin Loan [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_MeasurementInputMarginLoanMember" xlink:href="ms-20231231.xsd#ms_MeasurementInputMarginLoanMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_MeasurementInputMarginLoanMember" xlink:to="lab_ms_MeasurementInputMarginLoanMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_PaymentsForProceedsFromProductiveAssets_6c87037e-27c4-484e-9bb5-d1f207bcf422_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsForProceedsFromProductiveAssets" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other assets—Premises, equipment and software </link:label>
<link:label id="lab_us-gaap_PaymentsForProceedsFromProductiveAssets_label_en-US" xlink:label="lab_us-gaap_PaymentsForProceedsFromProductiveAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Payments for (Proceeds from) Productive Assets </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsForProceedsFromProductiveAssets" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PaymentsForProceedsFromProductiveAssets"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsForProceedsFromProductiveAssets" xlink:to="lab_us-gaap_PaymentsForProceedsFromProductiveAssets" xlink:type="arc" order="1"/>
<link:label id="lab_ms_OtherReceivablesMember_9a4bd489-f067-4b21-b2a0-8f9aed2f15ad_terseLabel_en-US" xlink:label="lab_ms_OtherReceivablesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other receivables </link:label>
<link:label id="lab_ms_OtherReceivablesMember_label_en-US" xlink:label="lab_ms_OtherReceivablesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other Receivables [Member] </link:label>
<link:label id="lab_ms_OtherReceivablesMember_documentation_en-US" xlink:label="lab_ms_OtherReceivablesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other Receivables [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_OtherReceivablesMember" xlink:href="ms-20231231.xsd#ms_OtherReceivablesMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_OtherReceivablesMember" xlink:to="lab_ms_OtherReceivablesMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_CreditDerivativesLineItems_2d2f29c4-5cf8-4c16-81c5-4dc45d433bed_terseLabel_en-US" xlink:label="lab_us-gaap_CreditDerivativesLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Credit Derivatives </link:label>
<link:label id="lab_us-gaap_CreditDerivativesLineItems_label_en-US" xlink:label="lab_us-gaap_CreditDerivativesLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Credit Derivatives [Line Items] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CreditDerivativesLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CreditDerivativesLineItems"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CreditDerivativesLineItems" xlink:to="lab_us-gaap_CreditDerivativesLineItems" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember_49033d38-a9c7-4e3b-9876-6f15600c7ab4_terseLabel_en-US" xlink:label="lab_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Variable Interest Entity, Primary Beneficiary </link:label>
<link:label id="lab_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember_label_en-US" xlink:label="lab_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Variable Interest Entity, Primary Beneficiary [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_VariableInterestEntityPrimaryBeneficiaryMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember" xlink:to="lab_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_HedgeFundsMember_4b7115d1-96e1-4597-8249-a7d9d7d81f59_terseLabel_en-US" xlink:label="lab_us-gaap_HedgeFundsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Hedge </link:label>
<link:label id="lab_us-gaap_HedgeFundsMember_label_en-US" xlink:label="lab_us-gaap_HedgeFundsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Hedge Funds [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_HedgeFundsMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_HedgeFundsMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_HedgeFundsMember" xlink:to="lab_us-gaap_HedgeFundsMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_108c2cc4-1efa-4127-aea0-ad0d60d6a9dc_terseLabel_en-US" xlink:label="lab_us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Effect of exchange rate changes on cash and cash equivalents </link:label>
<link:label id="lab_us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_39498237-9fce-45f6-bab3-fdf722b58689_verboseLabel_en-US" xlink:label="lab_us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Effect of exchange rate changes on cash and cash equivalents </link:label>
<link:label id="lab_us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_label_en-US" xlink:label="lab_us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Continuing Operations </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:to="lab_us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_PerformanceSharesMember_4d9613f5-a50f-4ccb-a6ea-1115c5fe46fa_terseLabel_en-US" xlink:label="lab_us-gaap_PerformanceSharesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> PSUs </link:label>
<link:label id="lab_us-gaap_PerformanceSharesMember_label_en-US" xlink:label="lab_us-gaap_PerformanceSharesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Performance Shares [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_PerformanceSharesMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PerformanceSharesMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PerformanceSharesMember" xlink:to="lab_us-gaap_PerformanceSharesMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersOutOfLevel3_3236fac9-63e3-4a14-a341-237053671f2b_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersOutOfLevel3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Transfers from Level 3 to Level 2 </link:label>
<link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersOutOfLevel3_label_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersOutOfLevel3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3 </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersOutOfLevel3" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersOutOfLevel3"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersOutOfLevel3" xlink:to="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersOutOfLevel3" xlink:type="arc" order="1"/>
<link:label id="lab_ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedAndUnvestedForfeitedInPeriodWeightedAverageGrantDateFairValue_d64e027b-9fc9-485c-99bd-4866de9a25a5_terseLabel_en-US" xlink:label="lab_ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedAndUnvestedForfeitedInPeriodWeightedAverageGrantDateFairValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Forfeited (in dollars per share) </link:label>
<link:label id="lab_ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedAndUnvestedForfeitedInPeriodWeightedAverageGrantDateFairValue_label_en-US" xlink:label="lab_ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedAndUnvestedForfeitedInPeriodWeightedAverageGrantDateFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested and Unvested, Forfeited in Period, Weighted Average Grant Date Fair Value </link:label>
<link:label id="lab_ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedAndUnvestedForfeitedInPeriodWeightedAverageGrantDateFairValue_documentation_en-US" xlink:label="lab_ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedAndUnvestedForfeitedInPeriodWeightedAverageGrantDateFairValue" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested and Unvested, Forfeited in Period, Weighted Average Grant Date Fair Value </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedAndUnvestedForfeitedInPeriodWeightedAverageGrantDateFairValue" xlink:href="ms-20231231.xsd#ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedAndUnvestedForfeitedInPeriodWeightedAverageGrantDateFairValue"/>
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<link:label id="lab_us-gaap_SeriesEPreferredStockMember_2a682a9b-f5e1-4386-b2e2-243d35ad8e4c_verboseLabel_en-US" xlink:label="lab_us-gaap_SeriesEPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Non-Cumulative Preferred Stock, Series E, $0.01 par value </link:label>
<link:label id="lab_us-gaap_SeriesEPreferredStockMember_5d7b9331-3138-44fb-b429-a1048b32f02c_terseLabel_en-US" xlink:label="lab_us-gaap_SeriesEPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Series E </link:label>
<link:label id="lab_us-gaap_SeriesEPreferredStockMember_label_en-US" xlink:label="lab_us-gaap_SeriesEPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Series E Preferred Stock [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_SeriesEPreferredStockMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SeriesEPreferredStockMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SeriesEPreferredStockMember" xlink:to="lab_us-gaap_SeriesEPreferredStockMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_SecuritiesPurchasedUnderAgreementsToResellAmountOffsetAgainstCollateral_0e6bb0f4-ea2d-4749-b77f-2fd63c2aa5c8_totalLabel_en-US" xlink:label="lab_us-gaap_SecuritiesPurchasedUnderAgreementsToResellAmountOffsetAgainstCollateral" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Net Amounts </link:label>
<link:label id="lab_us-gaap_SecuritiesPurchasedUnderAgreementsToResellAmountOffsetAgainstCollateral_label_en-US" xlink:label="lab_us-gaap_SecuritiesPurchasedUnderAgreementsToResellAmountOffsetAgainstCollateral" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Security Purchased under Agreement to Resell, Including Not Subject to Master Netting Arrangement, after Offset and Deduction </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_SecuritiesPurchasedUnderAgreementsToResellAmountOffsetAgainstCollateral" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SecuritiesPurchasedUnderAgreementsToResellAmountOffsetAgainstCollateral"/>
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<link:label id="lab_us-gaap_ScheduleOfGoodwillTable_e4fbfad7-be7e-4b27-ba19-d278b014246d_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfGoodwillTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Goodwill [Table] </link:label>
<link:label id="lab_us-gaap_ScheduleOfGoodwillTable_label_en-US" xlink:label="lab_us-gaap_ScheduleOfGoodwillTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Goodwill [Table] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfGoodwillTable" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfGoodwillTable"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfGoodwillTable" xlink:to="lab_us-gaap_ScheduleOfGoodwillTable" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DerivativeLiabilityNotSubjectToMasterNettingArrangement_b8ab0bc7-db66-4baa-bb72-753ac516a794_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeLiabilityNotSubjectToMasterNettingArrangement" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Net amounts for which master netting or collateral agreements are not in place or may not be legally enforceable </link:label>
<link:label id="lab_us-gaap_DerivativeLiabilityNotSubjectToMasterNettingArrangement_label_en-US" xlink:label="lab_us-gaap_DerivativeLiabilityNotSubjectToMasterNettingArrangement" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative Liability, Not Subject to Master Netting Arrangement </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeLiabilityNotSubjectToMasterNettingArrangement" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DerivativeLiabilityNotSubjectToMasterNettingArrangement"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeLiabilityNotSubjectToMasterNettingArrangement" xlink:to="lab_us-gaap_DerivativeLiabilityNotSubjectToMasterNettingArrangement" xlink:type="arc" order="1"/>
<link:label id="lab_srt_StatementGeographicalAxis_e90dc19f-3865-44c1-a043-bcc2424e8fda_terseLabel_en-US" xlink:label="lab_srt_StatementGeographicalAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Geographical [Axis] </link:label>
<link:label id="lab_srt_StatementGeographicalAxis_label_en-US" xlink:label="lab_srt_StatementGeographicalAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Geographical [Axis] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_srt_StatementGeographicalAxis" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_StatementGeographicalAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_StatementGeographicalAxis" xlink:to="lab_srt_StatementGeographicalAxis" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_TypeOfArrangementAxis_9c7b9f31-9a27-4fba-b890-994f307b5e41_terseLabel_en-US" xlink:label="lab_us-gaap_TypeOfArrangementAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Collaborative Arrangement and Arrangement Other than Collaborative [Axis] </link:label>
<link:label id="lab_us-gaap_TypeOfArrangementAxis_label_en-US" xlink:label="lab_us-gaap_TypeOfArrangementAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Collaborative Arrangement and Arrangement Other than Collaborative [Axis] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_TypeOfArrangementAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_TypeOfArrangementAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TypeOfArrangementAxis" xlink:to="lab_us-gaap_TypeOfArrangementAxis" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_IncomeTaxDisclosureTextBlock_58491d9b-9744-4a1d-a331-4e3bfc455893_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Income Taxes </link:label>
<link:label id="lab_us-gaap_IncomeTaxDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_IncomeTaxDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Income Tax Disclosure [Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeTaxDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_IncomeTaxDisclosureTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeTaxDisclosureTextBlock" xlink:to="lab_us-gaap_IncomeTaxDisclosureTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_SecuritiesSoldUnderAgreementsToRepurchaseAsset_731f1571-573e-479a-af5a-05f8d4e1ca79_negatedLabel_en-US" xlink:label="lab_us-gaap_SecuritiesSoldUnderAgreementsToRepurchaseAsset" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Amounts Offset </link:label>
<link:label id="lab_us-gaap_SecuritiesSoldUnderAgreementsToRepurchaseAsset_label_en-US" xlink:label="lab_us-gaap_SecuritiesSoldUnderAgreementsToRepurchaseAsset" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Security Sold under Agreement to Repurchase, Subject to Master Netting Arrangement, Asset Offset </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_SecuritiesSoldUnderAgreementsToRepurchaseAsset" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SecuritiesSoldUnderAgreementsToRepurchaseAsset"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SecuritiesSoldUnderAgreementsToRepurchaseAsset" xlink:to="lab_us-gaap_SecuritiesSoldUnderAgreementsToRepurchaseAsset" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FutureMember_d62815e5-c530-4298-b51d-ed2d38738e58_terseLabel_en-US" xlink:label="lab_us-gaap_FutureMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Futures Contracts </link:label>
<link:label id="lab_us-gaap_FutureMember_label_en-US" xlink:label="lab_us-gaap_FutureMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Future [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FutureMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FutureMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FutureMember" xlink:to="lab_us-gaap_FutureMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInOtherComprehensiveIncome_73b80f29-46dc-434f-8880-85b5a3700bf1_negatedLabel_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInOtherComprehensiveIncome" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Portion of unrealized losses (gains) recorded in OCI—Change in net DVA </link:label>
<link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInOtherComprehensiveIncome_label_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInOtherComprehensiveIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included in Other Comprehensive Income (Loss) </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInOtherComprehensiveIncome" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInOtherComprehensiveIncome"/>
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<link:label id="lab_us-gaap_GeographicDistributionDomain_4d403596-e393-4e13-860f-97e55e7845bc_terseLabel_en-US" xlink:label="lab_us-gaap_GeographicDistributionDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Geographic Distribution [Domain] </link:label>
<link:label id="lab_us-gaap_GeographicDistributionDomain_label_en-US" xlink:label="lab_us-gaap_GeographicDistributionDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Geographic Distribution [Domain] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_GeographicDistributionDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_GeographicDistributionDomain"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GeographicDistributionDomain" xlink:to="lab_us-gaap_GeographicDistributionDomain" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FairValueAssetsMeasuredOnRecurringBasisChangeInUnrealizedGainLoss_8873be1c-03ac-4707-95af-49b7b012bbfa_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueAssetsMeasuredOnRecurringBasisChangeInUnrealizedGainLoss" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Unrealized gains (losses) </link:label>
<link:label id="lab_us-gaap_FairValueAssetsMeasuredOnRecurringBasisChangeInUnrealizedGainLoss_label_en-US" xlink:label="lab_us-gaap_FairValueAssetsMeasuredOnRecurringBasisChangeInUnrealizedGainLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss) </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueAssetsMeasuredOnRecurringBasisChangeInUnrealizedGainLoss" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueAssetsMeasuredOnRecurringBasisChangeInUnrealizedGainLoss"/>
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<link:label id="lab_us-gaap_GuaranteeObligationsByNatureAxis_b9714da2-aef9-4bc0-81cc-919a78a759c1_terseLabel_en-US" xlink:label="lab_us-gaap_GuaranteeObligationsByNatureAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Guarantor Obligations, Nature [Axis] </link:label>
<link:label id="lab_us-gaap_GuaranteeObligationsByNatureAxis_label_en-US" xlink:label="lab_us-gaap_GuaranteeObligationsByNatureAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Guarantor Obligations, Nature [Axis] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_GuaranteeObligationsByNatureAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_GuaranteeObligationsByNatureAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GuaranteeObligationsByNatureAxis" xlink:to="lab_us-gaap_GuaranteeObligationsByNatureAxis" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_PreferredStockParOrStatedValuePerShare_4443e294-eb6f-4bf5-87f0-8e14039b02f8_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockParOrStatedValuePerShare" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Preferred stock, par value (in dollars per share) </link:label>
<link:label id="lab_us-gaap_PreferredStockParOrStatedValuePerShare_label_en-US" xlink:label="lab_us-gaap_PreferredStockParOrStatedValuePerShare" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Preferred Stock, Par or Stated Value Per Share </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_PreferredStockParOrStatedValuePerShare" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PreferredStockParOrStatedValuePerShare"/>
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<link:label id="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable_a5742af5-b304-4eb9-8956-1b1b0d6035aa_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value, Recurring and Nonrecurring [Table] </link:label>
<link:label id="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable_label_en-US" xlink:label="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value, Recurring and Nonrecurring [Table] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable"/>
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<link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss_43af2df3-182d-47a6-b104-ab75a45c605e_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Held for investment (net of allowance for credit losses of $1,169 and $839) </link:label>
<link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss_29defee5-609f-45fd-bcc3-26f8a6a15dac_verboseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Held for investment </link:label>
<link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss_c1057f44-aba4-491e-8953-1999083d6ca4_totalLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Total loans, net </link:label>
<link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financing Receivable, Excluding Accrued Interest, after Allowance for Credit Loss </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss"/>
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<link:label id="lab_us-gaap_FederalFundsSoldAndSecuritiesBorrowedOrPurchasedUnderAgreementsToResellMember_290b1ef4-5872-4a66-9476-6514a85f63d0_terseLabel_en-US" xlink:label="lab_us-gaap_FederalFundsSoldAndSecuritiesBorrowedOrPurchasedUnderAgreementsToResellMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Securities purchased under agreements to resell </link:label>
<link:label id="lab_us-gaap_FederalFundsSoldAndSecuritiesBorrowedOrPurchasedUnderAgreementsToResellMember_label_en-US" xlink:label="lab_us-gaap_FederalFundsSoldAndSecuritiesBorrowedOrPurchasedUnderAgreementsToResellMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Federal Funds Sold and Securities Borrowed or Purchased under Agreements to Resell [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FederalFundsSoldAndSecuritiesBorrowedOrPurchasedUnderAgreementsToResellMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FederalFundsSoldAndSecuritiesBorrowedOrPurchasedUnderAgreementsToResellMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FederalFundsSoldAndSecuritiesBorrowedOrPurchasedUnderAgreementsToResellMember" xlink:to="lab_us-gaap_FederalFundsSoldAndSecuritiesBorrowedOrPurchasedUnderAgreementsToResellMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipAxis_2dcf214b-8351-4b08-9cd4-584ffba16664_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Hedging Relationship [Axis] </link:label>
<link:label id="lab_us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipAxis_label_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Hedging Relationship [Axis] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipAxis" xlink:to="lab_us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipAxis" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_56e7000e-7a1e-40e9-8fc2-bb20b5a346e8_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Property, Plant and Equipment [Table] </link:label>
<link:label id="lab_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_label_en-US" xlink:label="lab_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Property, Plant and Equipment [Table] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfPropertyPlantAndEquipmentTable"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable" xlink:to="lab_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DeferredCompensationArrangementWithIndividualCompensationExpense_57263eda-10b9-4011-aa8c-05dd6249f1a2_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredCompensationArrangementWithIndividualCompensationExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Deferred cash-based awards </link:label>
<link:label id="lab_us-gaap_DeferredCompensationArrangementWithIndividualCompensationExpense_label_en-US" xlink:label="lab_us-gaap_DeferredCompensationArrangementWithIndividualCompensationExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Deferred Compensation Arrangement with Individual, Compensation Expense </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredCompensationArrangementWithIndividualCompensationExpense" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DeferredCompensationArrangementWithIndividualCompensationExpense"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredCompensationArrangementWithIndividualCompensationExpense" xlink:to="lab_us-gaap_DeferredCompensationArrangementWithIndividualCompensationExpense" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FairValueInputsLevel3Member_0fc4121f-decf-4139-8ee0-919bc93f136a_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueInputsLevel3Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Level 3 </link:label>
<link:label id="lab_us-gaap_FairValueInputsLevel3Member_label_en-US" xlink:label="lab_us-gaap_FairValueInputsLevel3Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value, Inputs, Level 3 [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueInputsLevel3Member" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueInputsLevel3Member"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueInputsLevel3Member" xlink:to="lab_us-gaap_FairValueInputsLevel3Member" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsNextTwelveMonths_e4d2bac3-6f5e-4c61-a637-9310eb4f1600_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsNextTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> 2024 </link:label>
<link:label id="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsNextTwelveMonths_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsNextTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Defined Benefit Plan, Expected Future Benefit Payment, Year One </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsNextTwelveMonths" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsNextTwelveMonths"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsNextTwelveMonths" xlink:to="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsNextTwelveMonths" xlink:type="arc" order="1"/>
<link:label id="lab_ms_UnderwritingMember_42a11a7e-f6cd-4a62-94e6-a66d1ae99f3e_terseLabel_en-US" xlink:label="lab_ms_UnderwritingMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Institutional Securities—Underwriting </link:label>
<link:label id="lab_ms_UnderwritingMember_label_en-US" xlink:label="lab_ms_UnderwritingMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Underwriting [Member] </link:label>
<link:label id="lab_ms_UnderwritingMember_documentation_en-US" xlink:label="lab_ms_UnderwritingMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Underwriting is the process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing either equity or debt securities. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_UnderwritingMember" xlink:href="ms-20231231.xsd#ms_UnderwritingMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_UnderwritingMember" xlink:to="lab_ms_UnderwritingMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DebtSecuritiesAvailableForSaleExcludingAccruedInterest_dff63968-a4ca-4420-9367-2aeb005334af_terseLabel_en-US" xlink:label="lab_us-gaap_DebtSecuritiesAvailableForSaleExcludingAccruedInterest" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Available-for-sale at fair value (amortized cost of $92,149 and $89,772) </link:label>
<link:label id="lab_us-gaap_DebtSecuritiesAvailableForSaleExcludingAccruedInterest_d326bc4f-5652-4cb3-be90-5829ded1810e_verboseLabel_en-US" xlink:label="lab_us-gaap_DebtSecuritiesAvailableForSaleExcludingAccruedInterest" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Available-for-sale, fair value </link:label>
<link:label id="lab_us-gaap_DebtSecuritiesAvailableForSaleExcludingAccruedInterest_b838f024-cf63-4760-8dfa-421f68afd2b3_totalLabel_en-US" xlink:label="lab_us-gaap_DebtSecuritiesAvailableForSaleExcludingAccruedInterest" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> AFS securities: Fair value, total </link:label>
<link:label id="lab_us-gaap_DebtSecuritiesAvailableForSaleExcludingAccruedInterest_label_en-US" xlink:label="lab_us-gaap_DebtSecuritiesAvailableForSaleExcludingAccruedInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt Securities, Available-for-Sale, Excluding Accrued Interest </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtSecuritiesAvailableForSaleExcludingAccruedInterest" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DebtSecuritiesAvailableForSaleExcludingAccruedInterest"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtSecuritiesAvailableForSaleExcludingAccruedInterest" xlink:to="lab_us-gaap_DebtSecuritiesAvailableForSaleExcludingAccruedInterest" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_InterestAndDividendIncomeOperatingAbstract_892dc11a-579f-4127-be2e-54bfd0dca583_terseLabel_en-US" xlink:label="lab_us-gaap_InterestAndDividendIncomeOperatingAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Interest income </link:label>
<link:label id="lab_us-gaap_InterestAndDividendIncomeOperatingAbstract_label_en-US" xlink:label="lab_us-gaap_InterestAndDividendIncomeOperatingAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Interest and Dividend Income, Operating [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestAndDividendIncomeOperatingAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_InterestAndDividendIncomeOperatingAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestAndDividendIncomeOperatingAbstract" xlink:to="lab_us-gaap_InterestAndDividendIncomeOperatingAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsAmortizedCost_bc2284e9-a133-4177-a52a-57b35075a540_terseLabel_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsAmortizedCost" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> AFS securities: Amortized cost, after 5 years through 10 years </link:label>
<link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsAmortizedCost_label_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsAmortizedCost" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year 5 Through 10 </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsAmortizedCost" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsAmortizedCost"/>
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<link:label id="lab_us-gaap_OtherComprehensiveIncomeLossTax_d2383e2b-7537-45d6-8e21-3642b7868121_negatedTotalLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossTax" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Net OCI </link:label>
<link:label id="lab_us-gaap_OtherComprehensiveIncomeLossTax_label_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other Comprehensive Income (Loss), Tax </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossTax" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OtherComprehensiveIncomeLossTax"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherComprehensiveIncomeLossTax" xlink:to="lab_us-gaap_OtherComprehensiveIncomeLossTax" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_NetIncomeLoss_40b1cf10-4355-45c1-81ba-ab05617cab85_totalLabel_en-US" xlink:label="lab_us-gaap_NetIncomeLoss" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Net income applicable to Morgan Stanley </link:label>
<link:label id="lab_us-gaap_NetIncomeLoss_d3b86097-66f0-4ead-a6c3-76a27595694d_terseLabel_en-US" xlink:label="lab_us-gaap_NetIncomeLoss" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Net income applicable to Morgan Stanley </link:label>
<link:label id="lab_us-gaap_NetIncomeLoss_label_en-US" xlink:label="lab_us-gaap_NetIncomeLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Net Income (Loss) </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetIncomeLoss" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_NetIncomeLoss"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetIncomeLoss" xlink:to="lab_us-gaap_NetIncomeLoss" xlink:type="arc" order="1"/>
<link:label id="lab_ms_MeasurementInputEquityForeignExchangeCorrelationMember_f6801aa0-b847-4653-b4e0-fb93a8994e81_terseLabel_en-US" xlink:label="lab_ms_MeasurementInputEquityForeignExchangeCorrelationMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Equity - FX Correlation </link:label>
<link:label id="lab_ms_MeasurementInputEquityForeignExchangeCorrelationMember_label_en-US" xlink:label="lab_ms_MeasurementInputEquityForeignExchangeCorrelationMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Measurement Input, Equity - Foreign Exchange Correlation [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_MeasurementInputEquityForeignExchangeCorrelationMember" xlink:href="ms-20231231.xsd#ms_MeasurementInputEquityForeignExchangeCorrelationMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_MeasurementInputEquityForeignExchangeCorrelationMember" xlink:to="lab_ms_MeasurementInputEquityForeignExchangeCorrelationMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DerivativeContractTypeDomain_8fbbc839-ef39-4743-839c-b911c47811c5_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeContractTypeDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative Contract [Domain] </link:label>
<link:label id="lab_us-gaap_DerivativeContractTypeDomain_label_en-US" xlink:label="lab_us-gaap_DerivativeContractTypeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative Contract [Domain] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeContractTypeDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DerivativeContractTypeDomain"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeContractTypeDomain" xlink:to="lab_us-gaap_DerivativeContractTypeDomain" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock_dfccfbed-0027-4055-90e1-7f3850cee651_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Notionals of Derivative Contracts </link:label>
<link:label id="lab_us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block] </link:label>
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<link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost_c3044c67-4275-426e-a811-ac3c3840d613_terseLabel_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> AFS securities: Amortized cost, after 1 year through 5 years </link:label>
<link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost_label_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year One Through Five </link:label>
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<link:label id="lab_us-gaap_DefinedBenefitPlanOtherChanges_44eac879-a725-4873-9a52-d60fea8d5d6a_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanOtherChanges" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other </link:label>
<link:label id="lab_us-gaap_DefinedBenefitPlanOtherChanges_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanOtherChanges" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Defined Benefit Plan, Benefit Obligation, Increase (Decrease) for Other Change </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanOtherChanges" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DefinedBenefitPlanOtherChanges"/>
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<link:label id="lab_ms_NetProceedsFromFinancingActivitiesAbstract_180ac452-3c00-44e7-8105-64af13446949_terseLabel_en-US" xlink:label="lab_ms_NetProceedsFromFinancingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Net proceeds from (payments for): </link:label>
<link:label id="lab_ms_NetProceedsFromFinancingActivitiesAbstract_label_en-US" xlink:label="lab_ms_NetProceedsFromFinancingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Net Proceeds From Financing Activities [Abstract] </link:label>
<link:label id="lab_ms_NetProceedsFromFinancingActivitiesAbstract_documentation_en-US" xlink:label="lab_ms_NetProceedsFromFinancingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Net proceeds from: [Abstract] </link:label>
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<link:label id="lab_ms_UnrecognizedTaxBenefitsInterestExpenseOnIncomeTaxesAccruedNet_bfb4b8ba-af2c-453f-8142-96ba98d2aece_terseLabel_en-US" xlink:label="lab_ms_UnrecognizedTaxBenefitsInterestExpenseOnIncomeTaxesAccruedNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Accrued at end of period </link:label>
<link:label id="lab_ms_UnrecognizedTaxBenefitsInterestExpenseOnIncomeTaxesAccruedNet_label_en-US" xlink:label="lab_ms_UnrecognizedTaxBenefitsInterestExpenseOnIncomeTaxesAccruedNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Unrecognized Tax Benefits, Interest Expense on Income Taxes Accrued, Net </link:label>
<link:label id="lab_ms_UnrecognizedTaxBenefitsInterestExpenseOnIncomeTaxesAccruedNet_documentation_en-US" xlink:label="lab_ms_UnrecognizedTaxBenefitsInterestExpenseOnIncomeTaxesAccruedNet" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Interest expense accrued net of federal and state income tax benefits. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_UnrecognizedTaxBenefitsInterestExpenseOnIncomeTaxesAccruedNet" xlink:href="ms-20231231.xsd#ms_UnrecognizedTaxBenefitsInterestExpenseOnIncomeTaxesAccruedNet"/>
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<link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsLineItems_e648b91d-11c3-4d84-8aec-22f3fe0d8009_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Amortizable Intangible Assets </link:label>
<link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsLineItems_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Finite-Lived Intangible Assets [Line Items] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FiniteLivedIntangibleAssetsLineItems"/>
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<link:label id="lab_us-gaap_HedgedLiabilityDiscontinuedFairValueHedgeCumulativeIncreaseDecrease_31bf7d38-456c-4a82-abf4-0f6ea5470882_terseLabel_en-US" xlink:label="lab_us-gaap_HedgedLiabilityDiscontinuedFairValueHedgeCumulativeIncreaseDecrease" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Basis adjustments included in carrying amount—Terminated hedges </link:label>
<link:label id="lab_us-gaap_HedgedLiabilityDiscontinuedFairValueHedgeCumulativeIncreaseDecrease_label_en-US" xlink:label="lab_us-gaap_HedgedLiabilityDiscontinuedFairValueHedgeCumulativeIncreaseDecrease" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Hedged Liability, Discontinued Fair Value Hedge, Cumulative Increase (Decrease) </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_HedgedLiabilityDiscontinuedFairValueHedgeCumulativeIncreaseDecrease" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_HedgedLiabilityDiscontinuedFairValueHedgeCumulativeIncreaseDecrease"/>
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<link:label id="lab_us-gaap_StockRepurchasedDuringPeriodValue_9b1f1e6f-8828-4680-a99c-7ee92472b57a_terseLabel_en-US" xlink:label="lab_us-gaap_StockRepurchasedDuringPeriodValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Repurchases of common stock under the Firm’s Share Repurchase Program </link:label>
<link:label id="lab_us-gaap_StockRepurchasedDuringPeriodValue_label_en-US" xlink:label="lab_us-gaap_StockRepurchasedDuringPeriodValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Stock Repurchased During Period, Value </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockRepurchasedDuringPeriodValue" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_StockRepurchasedDuringPeriodValue"/>
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<link:label id="lab_ms_ParticipantsOfACertainCompensationLevelMember_e11a135c-ae84-4629-9109-2a95b87b0aa2_terseLabel_en-US" xlink:label="lab_ms_ParticipantsOfACertainCompensationLevelMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Participants of a Certain Compensation Level </link:label>
<link:label id="lab_ms_ParticipantsOfACertainCompensationLevelMember_label_en-US" xlink:label="lab_ms_ParticipantsOfACertainCompensationLevelMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Participants of a Certain Compensation Level [Member] </link:label>
<link:label id="lab_ms_ParticipantsOfACertainCompensationLevelMember_documentation_en-US" xlink:label="lab_ms_ParticipantsOfACertainCompensationLevelMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Participants of a Certain Compensation Level </link:label>
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<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_ParticipantsOfACertainCompensationLevelMember" xlink:to="lab_ms_ParticipantsOfACertainCompensationLevelMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax_0e2d88e4-5d92-4cff-8d8a-5dc856386c71_terseLabel_en-US" xlink:label="lab_us-gaap_AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Gross Unrealized Losses </link:label>
<link:label id="lab_us-gaap_AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax_label_en-US" xlink:label="lab_us-gaap_AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Loss, before Tax </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax"/>
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<link:label id="lab_us-gaap_FairValueInputsLevel12And3Member_b36c83bb-28da-42d1-bcd6-9f43ba646491_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueInputsLevel12And3Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Total </link:label>
<link:label id="lab_us-gaap_FairValueInputsLevel12And3Member_label_en-US" xlink:label="lab_us-gaap_FairValueInputsLevel12And3Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value, Inputs, Level 1, Level 2, and Level 3 [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueInputsLevel12And3Member" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueInputsLevel12And3Member"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueInputsLevel12And3Member" xlink:to="lab_us-gaap_FairValueInputsLevel12And3Member" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_SummaryOfIncomeTaxExaminationsTextBlock_3697dade-3b5c-423b-b731-e44e9f6d7fb4_terseLabel_en-US" xlink:label="lab_us-gaap_SummaryOfIncomeTaxExaminationsTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Earliest Tax Year Subject to Examination in Major Tax Jurisdictions </link:label>
<link:label id="lab_us-gaap_SummaryOfIncomeTaxExaminationsTextBlock_label_en-US" xlink:label="lab_us-gaap_SummaryOfIncomeTaxExaminationsTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Summary of Income Tax Examinations [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_SummaryOfIncomeTaxExaminationsTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SummaryOfIncomeTaxExaminationsTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SummaryOfIncomeTaxExaminationsTextBlock" xlink:to="lab_us-gaap_SummaryOfIncomeTaxExaminationsTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_8e3f7c61-7346-4f51-828e-1eeeec763bd1_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Award vesting period </link:label>
<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1"/>
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<link:label id="lab_us-gaap_CommonClassBMember_6e8d8a7e-b1dd-4ac2-a282-ae58f7ada57f_terseLabel_en-US" xlink:label="lab_us-gaap_CommonClassBMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Common Class B </link:label>
<link:label id="lab_us-gaap_CommonClassBMember_label_en-US" xlink:label="lab_us-gaap_CommonClassBMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Common Class B [Member] </link:label>
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<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonClassBMember" xlink:to="lab_us-gaap_CommonClassBMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_FICOScoreLessthan680Member_8d642b1e-da68-4985-8b8a-089e84c73104_terseLabel_en-US" xlink:label="lab_ms_FICOScoreLessthan680Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Less than or equal to 679 </link:label>
<link:label id="lab_ms_FICOScoreLessthan680Member_label_en-US" xlink:label="lab_ms_FICOScoreLessthan680Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> FICO Score, Less than 680 [Member] </link:label>
<link:label id="lab_ms_FICOScoreLessthan680Member_documentation_en-US" xlink:label="lab_ms_FICOScoreLessthan680Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> FICO Score, Less than 680 [Member] </link:label>
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<link:label id="lab_ms_QualifyingSpecialPurposeEntityClassificationAxis_978f484b-8948-47d9-887e-fb673ab0ea17_terseLabel_en-US" xlink:label="lab_ms_QualifyingSpecialPurposeEntityClassificationAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Qualifying Special Purpose Entity, Classification [Axis] </link:label>
<link:label id="lab_ms_QualifyingSpecialPurposeEntityClassificationAxis_label_en-US" xlink:label="lab_ms_QualifyingSpecialPurposeEntityClassificationAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Qualifying Special Purpose Entity, Classification [Axis] </link:label>
<link:label id="lab_ms_QualifyingSpecialPurposeEntityClassificationAxis_documentation_en-US" xlink:label="lab_ms_QualifyingSpecialPurposeEntityClassificationAxis" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Qualifying Special Purpose Entity by Classification </link:label>
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<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_QualifyingSpecialPurposeEntityClassificationAxis" xlink:to="lab_ms_QualifyingSpecialPurposeEntityClassificationAxis" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ForeignExchangeContractMember_5a20a151-ad86-46da-a291-a46219203d66_terseLabel_en-US" xlink:label="lab_us-gaap_ForeignExchangeContractMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Foreign exchange </link:label>
<link:label id="lab_us-gaap_ForeignExchangeContractMember_label_en-US" xlink:label="lab_us-gaap_ForeignExchangeContractMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Foreign Exchange Contract [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ForeignExchangeContractMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ForeignExchangeContractMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ForeignExchangeContractMember" xlink:to="lab_us-gaap_ForeignExchangeContractMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_OtherCommitmentsTable_96f85c74-c7d0-4a76-87e8-5b1c1f919362_terseLabel_en-US" xlink:label="lab_us-gaap_OtherCommitmentsTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other Commitments [Table] </link:label>
<link:label id="lab_us-gaap_OtherCommitmentsTable_label_en-US" xlink:label="lab_us-gaap_OtherCommitmentsTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other Commitments [Table] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherCommitmentsTable" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OtherCommitmentsTable"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherCommitmentsTable" xlink:to="lab_us-gaap_OtherCommitmentsTable" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_TimeDepositLiabilityUninsured_0298aff7-7570-4c20-92df-a5e2b4dd8e09_totalLabel_en-US" xlink:label="lab_us-gaap_TimeDepositLiabilityUninsured" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Total </link:label>
<link:label id="lab_us-gaap_TimeDepositLiabilityUninsured_label_en-US" xlink:label="lab_us-gaap_TimeDepositLiabilityUninsured" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Time Deposit Liability, Uninsured </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_TimeDepositLiabilityUninsured" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_TimeDepositLiabilityUninsured"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TimeDepositLiabilityUninsured" xlink:to="lab_us-gaap_TimeDepositLiabilityUninsured" xlink:type="arc" order="1"/>
<link:label id="lab_ms_SavingsAndDemandDeposits_f6b30ba8-6445-4c72-a705-ee47c95a8b10_terseLabel_en-US" xlink:label="lab_ms_SavingsAndDemandDeposits" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Savings and demand deposits </link:label>
<link:label id="lab_ms_SavingsAndDemandDeposits_label_en-US" xlink:label="lab_ms_SavingsAndDemandDeposits" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Savings and Demand Deposits </link:label>
<link:label id="lab_ms_SavingsAndDemandDeposits_documentation_en-US" xlink:label="lab_ms_SavingsAndDemandDeposits" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> The aggregate of amount of money in accounts that may bear interest and that the depositor is entitled to withdraw at any time without prior notice; and amount of interest bearing deposits with no stated maturity, which may include passbook and statement savings accounts and money-market deposit accounts (MMDAs). </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_SavingsAndDemandDeposits" xlink:href="ms-20231231.xsd#ms_SavingsAndDemandDeposits"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_SavingsAndDemandDeposits" xlink:to="lab_ms_SavingsAndDemandDeposits" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_Goodwill_c0dc0dd5-7f89-4188-bb3f-6ebb38c9f984_terseLabel_en-US" xlink:label="lab_us-gaap_Goodwill" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Goodwill </link:label>
<link:label id="lab_us-gaap_Goodwill_fa41c601-a730-440c-ac52-b33e856d87a0_periodStartLabel_en-US" xlink:label="lab_us-gaap_Goodwill" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Balance at beginning of period </link:label>
<link:label id="lab_us-gaap_Goodwill_4906290a-c119-4e15-bd48-e511792d1fba_periodEndLabel_en-US" xlink:label="lab_us-gaap_Goodwill" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Balance at end of period </link:label>
<link:label id="lab_us-gaap_Goodwill_label_en-US" xlink:label="lab_us-gaap_Goodwill" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Goodwill </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_Goodwill" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_Goodwill"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Goodwill" xlink:to="lab_us-gaap_Goodwill" xlink:type="arc" order="1"/>
<link:label id="lab_ms_MinimumTier1LeverageRatioPercent_feab4d1e-fdb6-411d-aa1d-0b85206aafcf_terseLabel_en-US" xlink:label="lab_ms_MinimumTier1LeverageRatioPercent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Minimum tier 1 leverage ratio (as a percent) </link:label>
<link:label id="lab_ms_MinimumTier1LeverageRatioPercent_label_en-US" xlink:label="lab_ms_MinimumTier1LeverageRatioPercent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Minimum Tier 1 Leverage Ratio, Percent </link:label>
<link:label id="lab_ms_MinimumTier1LeverageRatioPercent_documentation_en-US" xlink:label="lab_ms_MinimumTier1LeverageRatioPercent" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Minimum Tier 1 Leverage Ratio, Percent </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_MinimumTier1LeverageRatioPercent" xlink:href="ms-20231231.xsd#ms_MinimumTier1LeverageRatioPercent"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_MinimumTier1LeverageRatioPercent" xlink:to="lab_ms_MinimumTier1LeverageRatioPercent" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_AssetPledgedAsCollateralWithoutRightMember_62e6fd0b-6603-441a-8e49-1b6b25d592c3_terseLabel_en-US" xlink:label="lab_us-gaap_AssetPledgedAsCollateralWithoutRightMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Asset Pledged as Collateral without Right </link:label>
<link:label id="lab_us-gaap_AssetPledgedAsCollateralWithoutRightMember_label_en-US" xlink:label="lab_us-gaap_AssetPledgedAsCollateralWithoutRightMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Asset Pledged as Collateral without Right [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AssetPledgedAsCollateralWithoutRightMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AssetPledgedAsCollateralWithoutRightMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetPledgedAsCollateralWithoutRightMember" xlink:to="lab_us-gaap_AssetPledgedAsCollateralWithoutRightMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_TierOneRiskBasedCommonCapitalWellCapitalizedRequiredforCapitalAdequacytoRiskWeightedAssets_28daae72-e442-44b5-bdc4-bc67d5cb2265_terseLabel_en-US" xlink:label="lab_ms_TierOneRiskBasedCommonCapitalWellCapitalizedRequiredforCapitalAdequacytoRiskWeightedAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Common Equity Tier 1 capital (as a percent) </link:label>
<link:label id="lab_ms_TierOneRiskBasedCommonCapitalWellCapitalizedRequiredforCapitalAdequacytoRiskWeightedAssets_label_en-US" xlink:label="lab_ms_TierOneRiskBasedCommonCapitalWellCapitalizedRequiredforCapitalAdequacytoRiskWeightedAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Tier One Risk Based Common Capital Well-Capitalized Required for Capital Adequacy to Risk Weighted Assets </link:label>
<link:label id="lab_ms_TierOneRiskBasedCommonCapitalWellCapitalizedRequiredforCapitalAdequacytoRiskWeightedAssets_documentation_en-US" xlink:label="lab_ms_TierOneRiskBasedCommonCapitalWellCapitalizedRequiredforCapitalAdequacytoRiskWeightedAssets" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Tier One Risk Based Common Capital Well-Capitalized Required for Capital Adequacy to Risk Weighted Assets </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_TierOneRiskBasedCommonCapitalWellCapitalizedRequiredforCapitalAdequacytoRiskWeightedAssets" xlink:href="ms-20231231.xsd#ms_TierOneRiskBasedCommonCapitalWellCapitalizedRequiredforCapitalAdequacytoRiskWeightedAssets"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_TierOneRiskBasedCommonCapitalWellCapitalizedRequiredforCapitalAdequacytoRiskWeightedAssets" xlink:to="lab_ms_TierOneRiskBasedCommonCapitalWellCapitalizedRequiredforCapitalAdequacytoRiskWeightedAssets" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FairValueByMeasurementBasisAxis_fa49efa3-9cb6-4280-9a0c-9a742545c891_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueByMeasurementBasisAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Measurement Basis [Axis] </link:label>
<link:label id="lab_us-gaap_FairValueByMeasurementBasisAxis_label_en-US" xlink:label="lab_us-gaap_FairValueByMeasurementBasisAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Measurement Basis [Axis] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueByMeasurementBasisAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueByMeasurementBasisAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueByMeasurementBasisAxis" xlink:to="lab_us-gaap_FairValueByMeasurementBasisAxis" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_CommonEquityTierOneCapitalRatio_413e756f-e5fd-45cc-ab52-5c7fd7461ac8_terseLabel_en-US" xlink:label="lab_us-gaap_CommonEquityTierOneCapitalRatio" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Common Equity Tier 1 capital (as a percent) </link:label>
<link:label id="lab_us-gaap_CommonEquityTierOneCapitalRatio_label_en-US" xlink:label="lab_us-gaap_CommonEquityTierOneCapitalRatio" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Banking Regulation, Common Equity Tier 1 Risk-Based Capital Ratio, Actual </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonEquityTierOneCapitalRatio" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CommonEquityTierOneCapitalRatio"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonEquityTierOneCapitalRatio" xlink:to="lab_us-gaap_CommonEquityTierOneCapitalRatio" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FairValueDisclosureItemAmountsDomain_738d4cd9-8f03-4fed-b574-64a374c20d9f_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueDisclosureItemAmountsDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value Measurement [Domain] </link:label>
<link:label id="lab_us-gaap_FairValueDisclosureItemAmountsDomain_label_en-US" xlink:label="lab_us-gaap_FairValueDisclosureItemAmountsDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value Measurement [Domain] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueDisclosureItemAmountsDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueDisclosureItemAmountsDomain"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueDisclosureItemAmountsDomain" xlink:to="lab_us-gaap_FairValueDisclosureItemAmountsDomain" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_TransactionDomain_8bbe27d9-3744-4ba2-bd02-f690330b07d1_terseLabel_en-US" xlink:label="lab_us-gaap_TransactionDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Transaction [Domain] </link:label>
<link:label id="lab_us-gaap_TransactionDomain_label_en-US" xlink:label="lab_us-gaap_TransactionDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Transaction [Domain] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_TransactionDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_TransactionDomain"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TransactionDomain" xlink:to="lab_us-gaap_TransactionDomain" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_CollateralAxis_943bc54b-20a6-4b6e-8b13-5e7c30ffcbf4_terseLabel_en-US" xlink:label="lab_us-gaap_CollateralAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Collateral [Axis] </link:label>
<link:label id="lab_us-gaap_CollateralAxis_label_en-US" xlink:label="lab_us-gaap_CollateralAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Collateral Held [Axis] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CollateralAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CollateralAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CollateralAxis" xlink:to="lab_us-gaap_CollateralAxis" xlink:type="arc" order="1"/>
<link:label id="lab_srt_FinancingReceivableAllowanceForCreditLossToOutstandingPercent_c71f670d-eebe-4673-b2f3-c68ac7941c55_terseLabel_en-US" xlink:label="lab_srt_FinancingReceivableAllowanceForCreditLossToOutstandingPercent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> ACL for loans to total HFI loans </link:label>
<link:label id="lab_srt_FinancingReceivableAllowanceForCreditLossToOutstandingPercent_label_en-US" xlink:label="lab_srt_FinancingReceivableAllowanceForCreditLossToOutstandingPercent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financing Receivable, Allowance for Credit Loss to Outstanding, Percent </link:label>
<link:loc xlink:type="locator" xlink:label="loc_srt_FinancingReceivableAllowanceForCreditLossToOutstandingPercent" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_FinancingReceivableAllowanceForCreditLossToOutstandingPercent"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_FinancingReceivableAllowanceForCreditLossToOutstandingPercent" xlink:to="lab_srt_FinancingReceivableAllowanceForCreditLossToOutstandingPercent" xlink:type="arc" order="1"/>
<link:label id="lab_ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalInYearSix_fee59871-0dd6-4efb-90b9-8d3b8027f24a_terseLabel_en-US" xlink:label="lab_ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalInYearSix" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Year 6 </link:label>
<link:label id="lab_ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalInYearSix_label_en-US" xlink:label="lab_ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalInYearSix" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Transfers Accounted for as Secured Borrowings, Associated Liabilities, Maturities, Repayments of Principal in Year Six </link:label>
<link:label id="lab_ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalInYearSix_documentation_en-US" xlink:label="lab_ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalInYearSix" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Transfers Accounted for as Secured Borrowings, Associated Liabilities, Maturities, Repayments of Principal in Year Six </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalInYearSix" xlink:href="ms-20231231.xsd#ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalInYearSix"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalInYearSix" xlink:to="lab_ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalInYearSix" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock_02d14469-f8c5-46b2-b09b-b6f64c77426d_terseLabel_en-US" xlink:label="lab_us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Investment Securities by Contractual Maturity </link:label>
<link:label id="lab_us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock_label_en-US" xlink:label="lab_us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Investments Classified by Contractual Maturity Date [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock" xlink:to="lab_us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_IncreaseDecreaseInPayablesUnderRepurchaseAgreements_adf3b58e-2548-4994-af29-67b22d4a1106_verboseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInPayablesUnderRepurchaseAgreements" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Securities sold under agreements to repurchase </link:label>
<link:label id="lab_us-gaap_IncreaseDecreaseInPayablesUnderRepurchaseAgreements_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInPayablesUnderRepurchaseAgreements" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Increase (Decrease) in Payables under Repurchase Agreements </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInPayablesUnderRepurchaseAgreements" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_IncreaseDecreaseInPayablesUnderRepurchaseAgreements"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInPayablesUnderRepurchaseAgreements" xlink:to="lab_us-gaap_IncreaseDecreaseInPayablesUnderRepurchaseAgreements" xlink:type="arc" order="1"/>
<link:label id="lab_ms_MeasurementInputLossGivenDefaultMember_9d6c4f86-26e0-4907-89ee-6520af459a0b_terseLabel_en-US" xlink:label="lab_ms_MeasurementInputLossGivenDefaultMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Loss given default </link:label>
<link:label id="lab_ms_MeasurementInputLossGivenDefaultMember_label_en-US" xlink:label="lab_ms_MeasurementInputLossGivenDefaultMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Measurement Input, Loss Given Default [Member] </link:label>
<link:label id="lab_ms_MeasurementInputLossGivenDefaultMember_documentation_en-US" xlink:label="lab_ms_MeasurementInputLossGivenDefaultMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Measurement input using amount expressed as a percentage of par that is expected to be received when a credit event occurs. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_MeasurementInputLossGivenDefaultMember" xlink:href="ms-20231231.xsd#ms_MeasurementInputLossGivenDefaultMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_MeasurementInputLossGivenDefaultMember" xlink:to="lab_ms_MeasurementInputLossGivenDefaultMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_InvestmentVehiclesMember_ae3147ab-5e95-47e7-b6e1-e7f36ed2db4c_terseLabel_en-US" xlink:label="lab_ms_InvestmentVehiclesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Investment Vehicles </link:label>
<link:label id="lab_ms_InvestmentVehiclesMember_label_en-US" xlink:label="lab_ms_InvestmentVehiclesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Investment Vehicles [Member] </link:label>
<link:label id="lab_ms_InvestmentVehiclesMember_documentation_en-US" xlink:label="lab_ms_InvestmentVehiclesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Investment Vehicles </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_InvestmentVehiclesMember" xlink:href="ms-20231231.xsd#ms_InvestmentVehiclesMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_InvestmentVehiclesMember" xlink:to="lab_ms_InvestmentVehiclesMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DerivativeAssetMeasurementInput_b0e5dbdc-8585-43e0-8845-9eebe095774e_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeAssetMeasurementInput" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative assets, measurement input value </link:label>
<link:label id="lab_us-gaap_DerivativeAssetMeasurementInput_label_en-US" xlink:label="lab_us-gaap_DerivativeAssetMeasurementInput" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative Asset, Measurement Input </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeAssetMeasurementInput" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DerivativeAssetMeasurementInput"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeAssetMeasurementInput" xlink:to="lab_us-gaap_DerivativeAssetMeasurementInput" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_AssetPledgedAsCollateralMember_3ab66496-6848-458d-84a4-91c8ef45b870_terseLabel_en-US" xlink:label="lab_us-gaap_AssetPledgedAsCollateralMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Asset Pledged as Collateral </link:label>
<link:label id="lab_us-gaap_AssetPledgedAsCollateralMember_label_en-US" xlink:label="lab_us-gaap_AssetPledgedAsCollateralMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Asset Pledged as Collateral [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AssetPledgedAsCollateralMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AssetPledgedAsCollateralMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetPledgedAsCollateralMember" xlink:to="lab_us-gaap_AssetPledgedAsCollateralMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_CapitalAbstract_1601725b-751b-477f-8512-0f87a6d043db_terseLabel_en-US" xlink:label="lab_us-gaap_CapitalAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Total capital ratio </link:label>
<link:label id="lab_us-gaap_CapitalAbstract_label_en-US" xlink:label="lab_us-gaap_CapitalAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Banking Regulation, Total Capital [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CapitalAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CapitalAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CapitalAbstract" xlink:to="lab_us-gaap_CapitalAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_LesseeOperatingLeaseLiabilityMaturityTableTextBlock_0044fdd2-24f7-4ad0-a193-51cdc72e1ad6_terseLabel_en-US" xlink:label="lab_us-gaap_LesseeOperatingLeaseLiabilityMaturityTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Lease Liabilities </link:label>
<link:label id="lab_us-gaap_LesseeOperatingLeaseLiabilityMaturityTableTextBlock_label_en-US" xlink:label="lab_us-gaap_LesseeOperatingLeaseLiabilityMaturityTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityMaturityTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LesseeOperatingLeaseLiabilityMaturityTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityMaturityTableTextBlock" xlink:to="lab_us-gaap_LesseeOperatingLeaseLiabilityMaturityTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FinancingReceivableRevolvingWriteoff_69899872-7180-4595-a5d0-86d0a85fad8f_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableRevolvingWriteoff" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Revolving </link:label>
<link:label id="lab_us-gaap_FinancingReceivableRevolvingWriteoff_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableRevolvingWriteoff" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financing Receivable, Revolving, Writeoff </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableRevolvingWriteoff" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FinancingReceivableRevolvingWriteoff"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableRevolvingWriteoff" xlink:to="lab_us-gaap_FinancingReceivableRevolvingWriteoff" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DefinedBenefitPlanChangeInBenefitObligationRollForward_8d3ff51b-3ca4-4f52-bc54-02a4e3ca8664_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanChangeInBenefitObligationRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Rollforward of projected benefit obligation </link:label>
<link:label id="lab_us-gaap_DefinedBenefitPlanChangeInBenefitObligationRollForward_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanChangeInBenefitObligationRollForward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanChangeInBenefitObligationRollForward" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DefinedBenefitPlanChangeInBenefitObligationRollForward"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanChangeInBenefitObligationRollForward" xlink:to="lab_us-gaap_DefinedBenefitPlanChangeInBenefitObligationRollForward" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_UndistributedEarningsOfForeignSubsidiaries_087df2dc-1695-4190-b01e-b8a057fb470f_terseLabel_en-US" xlink:label="lab_us-gaap_UndistributedEarningsOfForeignSubsidiaries" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Undistributed earnings of foreign subsidiaries </link:label>
<link:label id="lab_us-gaap_UndistributedEarningsOfForeignSubsidiaries_label_en-US" xlink:label="lab_us-gaap_UndistributedEarningsOfForeignSubsidiaries" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Undistributed Earnings of Foreign Subsidiaries </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_UndistributedEarningsOfForeignSubsidiaries" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_UndistributedEarningsOfForeignSubsidiaries"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_UndistributedEarningsOfForeignSubsidiaries" xlink:to="lab_us-gaap_UndistributedEarningsOfForeignSubsidiaries" xlink:type="arc" order="1"/>
<link:label id="lab_ms_NonredeemableFundsMaturityAfterTenYearsAtCarryingValue_647af1d5-3ecb-4e6e-8d33-b81eb76165a0_terseLabel_en-US" xlink:label="lab_ms_NonredeemableFundsMaturityAfterTenYearsAtCarryingValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Over 10 years </link:label>
<link:label id="lab_ms_NonredeemableFundsMaturityAfterTenYearsAtCarryingValue_label_en-US" xlink:label="lab_ms_NonredeemableFundsMaturityAfterTenYearsAtCarryingValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Nonredeemable Funds, Maturity, after Ten Years, at Carrying Value </link:label>
<link:label id="lab_ms_NonredeemableFundsMaturityAfterTenYearsAtCarryingValue_documentation_en-US" xlink:label="lab_ms_NonredeemableFundsMaturityAfterTenYearsAtCarryingValue" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Carrying value of nonredeemable funds maturing after tenth fiscal year following latest fiscal year. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_NonredeemableFundsMaturityAfterTenYearsAtCarryingValue" xlink:href="ms-20231231.xsd#ms_NonredeemableFundsMaturityAfterTenYearsAtCarryingValue"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_NonredeemableFundsMaturityAfterTenYearsAtCarryingValue" xlink:to="lab_ms_NonredeemableFundsMaturityAfterTenYearsAtCarryingValue" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DefinedContributionPlanTable_74416cf4-da64-4951-9e31-c297409b9dde_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedContributionPlanTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Defined Contribution Plan [Table] </link:label>
<link:label id="lab_us-gaap_DefinedContributionPlanTable_label_en-US" xlink:label="lab_us-gaap_DefinedContributionPlanTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Defined Contribution Plan [Table] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedContributionPlanTable" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DefinedContributionPlanTable"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedContributionPlanTable" xlink:to="lab_us-gaap_DefinedContributionPlanTable" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_PledgedStatusAxis_6150e2b1-1a92-4c65-b078-2d060b40acf9_terseLabel_en-US" xlink:label="lab_us-gaap_PledgedStatusAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Pledged Status [Axis] </link:label>
<link:label id="lab_us-gaap_PledgedStatusAxis_label_en-US" xlink:label="lab_us-gaap_PledgedStatusAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Pledged Status [Axis] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_PledgedStatusAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PledgedStatusAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PledgedStatusAxis" xlink:to="lab_us-gaap_PledgedStatusAxis" xlink:type="arc" order="1"/>
<link:label id="lab_srt_ProductsAndServicesDomain_0bc2b7da-3380-42b7-9f08-6d18b70548dd_terseLabel_en-US" xlink:label="lab_srt_ProductsAndServicesDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Product and Service [Domain] </link:label>
<link:label id="lab_srt_ProductsAndServicesDomain_label_en-US" xlink:label="lab_srt_ProductsAndServicesDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Product and Service [Domain] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_srt_ProductsAndServicesDomain" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_ProductsAndServicesDomain"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_ProductsAndServicesDomain" xlink:to="lab_srt_ProductsAndServicesDomain" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_CommercialMortgageBackedSecuritiesMember_bf11bf3f-f1b5-4ed3-8463-4c07261a572a_terseLabel_en-US" xlink:label="lab_us-gaap_CommercialMortgageBackedSecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Commercial mortgages </link:label>
<link:label id="lab_us-gaap_CommercialMortgageBackedSecuritiesMember_d46c8453-16a3-4a4c-8a57-e8abe2c37029_verboseLabel_en-US" xlink:label="lab_us-gaap_CommercialMortgageBackedSecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> CML </link:label>
<link:label id="lab_us-gaap_CommercialMortgageBackedSecuritiesMember_label_en-US" xlink:label="lab_us-gaap_CommercialMortgageBackedSecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Commercial Mortgage-Backed Securities [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommercialMortgageBackedSecuritiesMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CommercialMortgageBackedSecuritiesMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommercialMortgageBackedSecuritiesMember" xlink:to="lab_us-gaap_CommercialMortgageBackedSecuritiesMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_DebtSecuritiesAvailableForSaleMember_50c78a39-7c86-47db-8fa7-587865fdf15b_terseLabel_en-US" xlink:label="lab_ms_DebtSecuritiesAvailableForSaleMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Investment securities—AFS </link:label>
<link:label id="lab_ms_DebtSecuritiesAvailableForSaleMember_label_en-US" xlink:label="lab_ms_DebtSecuritiesAvailableForSaleMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt Securities, Available-For-Sale [Member] </link:label>
<link:label id="lab_ms_DebtSecuritiesAvailableForSaleMember_documentation_en-US" xlink:label="lab_ms_DebtSecuritiesAvailableForSaleMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt Securities, Available-For-Sale </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_DebtSecuritiesAvailableForSaleMember" xlink:href="ms-20231231.xsd#ms_DebtSecuritiesAvailableForSaleMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_DebtSecuritiesAvailableForSaleMember" xlink:to="lab_ms_DebtSecuritiesAvailableForSaleMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_AssetBackedSecuritiesFederalFamilyEducationLoanProgramMember_f17389a5-3aa0-4168-9295-03d3f455eb6f_terseLabel_en-US" xlink:label="lab_ms_AssetBackedSecuritiesFederalFamilyEducationLoanProgramMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> FFELP student loan ABS </link:label>
<link:label id="lab_ms_AssetBackedSecuritiesFederalFamilyEducationLoanProgramMember_label_en-US" xlink:label="lab_ms_AssetBackedSecuritiesFederalFamilyEducationLoanProgramMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Asset-backed Securities, Federal Family Education Loan Program [Member] </link:label>
<link:label id="lab_ms_AssetBackedSecuritiesFederalFamilyEducationLoanProgramMember_documentation_en-US" xlink:label="lab_ms_AssetBackedSecuritiesFederalFamilyEducationLoanProgramMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Asset-backed securities that are repaid with cash flows derived from student loans that are guaranteed under the Federal Family Education Loan Program (FFELP). </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_AssetBackedSecuritiesFederalFamilyEducationLoanProgramMember" xlink:href="ms-20231231.xsd#ms_AssetBackedSecuritiesFederalFamilyEducationLoanProgramMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_AssetBackedSecuritiesFederalFamilyEducationLoanProgramMember" xlink:to="lab_ms_AssetBackedSecuritiesFederalFamilyEducationLoanProgramMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FairValueOptionChangesInFairValueGainLoss1_64a7d248-1dc0-4b8b-8a75-03a41a469997_verboseLabel_en-US" xlink:label="lab_us-gaap_FairValueOptionChangesInFairValueGainLoss1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Gains (losses) from fair value remeasurements </link:label>
<link:label id="lab_us-gaap_FairValueOptionChangesInFairValueGainLoss1_19a5673a-4266-47ac-91df-91cdcff6bd7b_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueOptionChangesInFairValueGainLoss1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Earnings impact </link:label>
<link:label id="lab_us-gaap_FairValueOptionChangesInFairValueGainLoss1_label_en-US" xlink:label="lab_us-gaap_FairValueOptionChangesInFairValueGainLoss1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value, Option, Changes in Fair Value, Gain (Loss) </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueOptionChangesInFairValueGainLoss1" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueOptionChangesInFairValueGainLoss1"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueOptionChangesInFairValueGainLoss1" xlink:to="lab_us-gaap_FairValueOptionChangesInFairValueGainLoss1" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FairValueOptionLoansHeldAsAssetsAggregateAmountInNonaccrualStatus_3034e297-2515-4ddd-a42c-e5aa8810f38a_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueOptionLoansHeldAsAssetsAggregateAmountInNonaccrualStatus" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Nonaccrual loans </link:label>
<link:label id="lab_us-gaap_FairValueOptionLoansHeldAsAssetsAggregateAmountInNonaccrualStatus_label_en-US" xlink:label="lab_us-gaap_FairValueOptionLoansHeldAsAssetsAggregateAmountInNonaccrualStatus" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value, Option, Loans Held as Assets, Aggregate Amount in Nonaccrual Status </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueOptionLoansHeldAsAssetsAggregateAmountInNonaccrualStatus" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueOptionLoansHeldAsAssetsAggregateAmountInNonaccrualStatus"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueOptionLoansHeldAsAssetsAggregateAmountInNonaccrualStatus" xlink:to="lab_us-gaap_FairValueOptionLoansHeldAsAssetsAggregateAmountInNonaccrualStatus" xlink:type="arc" order="1"/>
<link:label id="lab_ms_NonredeemableFundsMaturityAtCarryingValue_59006fdf-85b7-4b05-a3f5-7f564d391f79_totalLabel_en-US" xlink:label="lab_ms_NonredeemableFundsMaturityAtCarryingValue" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Total </link:label>
<link:label id="lab_ms_NonredeemableFundsMaturityAtCarryingValue_label_en-US" xlink:label="lab_ms_NonredeemableFundsMaturityAtCarryingValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Nonredeemable Funds, Maturity, at Carrying Value </link:label>
<link:label id="lab_ms_NonredeemableFundsMaturityAtCarryingValue_documentation_en-US" xlink:label="lab_ms_NonredeemableFundsMaturityAtCarryingValue" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Carrying value of nonredeemable funds. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_NonredeemableFundsMaturityAtCarryingValue" xlink:href="ms-20231231.xsd#ms_NonredeemableFundsMaturityAtCarryingValue"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_NonredeemableFundsMaturityAtCarryingValue" xlink:to="lab_ms_NonredeemableFundsMaturityAtCarryingValue" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FinancingReceivableYearFiveOriginatedFourYearsBeforeCurrentFiscalYearWriteoff_205e166f-aca0-4946-8c36-7b3561274144_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableYearFiveOriginatedFourYearsBeforeCurrentFiscalYearWriteoff" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> 2019 </link:label>
<link:label id="lab_us-gaap_FinancingReceivableYearFiveOriginatedFourYearsBeforeCurrentFiscalYearWriteoff_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableYearFiveOriginatedFourYearsBeforeCurrentFiscalYearWriteoff" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableYearFiveOriginatedFourYearsBeforeCurrentFiscalYearWriteoff" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FinancingReceivableYearFiveOriginatedFourYearsBeforeCurrentFiscalYearWriteoff"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableYearFiveOriginatedFourYearsBeforeCurrentFiscalYearWriteoff" xlink:to="lab_us-gaap_FinancingReceivableYearFiveOriginatedFourYearsBeforeCurrentFiscalYearWriteoff" xlink:type="arc" order="1"/>
<link:label id="lab_ms_LongTermDebtMaturityAfterYearSix_35590310-f8f8-481e-8a93-8dc17ebd4169_terseLabel_en-US" xlink:label="lab_ms_LongTermDebtMaturityAfterYearSix" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> After year 6 </link:label>
<link:label id="lab_ms_LongTermDebtMaturityAfterYearSix_label_en-US" xlink:label="lab_ms_LongTermDebtMaturityAfterYearSix" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Long-Term Debt, Maturity, After Year Six </link:label>
<link:label id="lab_ms_LongTermDebtMaturityAfterYearSix_documentation_en-US" xlink:label="lab_ms_LongTermDebtMaturityAfterYearSix" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Long-Term Debt, Maturity, After Year Six </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_LongTermDebtMaturityAfterYearSix" xlink:href="ms-20231231.xsd#ms_LongTermDebtMaturityAfterYearSix"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_LongTermDebtMaturityAfterYearSix" xlink:to="lab_ms_LongTermDebtMaturityAfterYearSix" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_CreditDerivativesByContractTypeAxis_819f2a0e-dd3a-424a-a5d4-4a1c42235102_terseLabel_en-US" xlink:label="lab_us-gaap_CreditDerivativesByContractTypeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Credit Derivatives Contract Type [Axis] </link:label>
<link:label id="lab_us-gaap_CreditDerivativesByContractTypeAxis_label_en-US" xlink:label="lab_us-gaap_CreditDerivativesByContractTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Credit Derivatives Contract Type [Axis] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CreditDerivativesByContractTypeAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CreditDerivativesByContractTypeAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CreditDerivativesByContractTypeAxis" xlink:to="lab_us-gaap_CreditDerivativesByContractTypeAxis" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FinancialAssetPastDueMember_dd35d093-5e81-4bfb-8397-c0228d5f56f1_terseLabel_en-US" xlink:label="lab_us-gaap_FinancialAssetPastDueMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Total </link:label>
<link:label id="lab_us-gaap_FinancialAssetPastDueMember_label_en-US" xlink:label="lab_us-gaap_FinancialAssetPastDueMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financial Asset, Past Due [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancialAssetPastDueMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FinancialAssetPastDueMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancialAssetPastDueMember" xlink:to="lab_us-gaap_FinancialAssetPastDueMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_InterestIncomeAndInterestExpenseDisclosureTableTextBlock_ba9a54ca-6454-4ea4-afdf-5c27c9bec088_terseLabel_en-US" xlink:label="lab_us-gaap_InterestIncomeAndInterestExpenseDisclosureTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Details of Interest Income and Interest Expense </link:label>
<link:label id="lab_us-gaap_InterestIncomeAndInterestExpenseDisclosureTableTextBlock_label_en-US" xlink:label="lab_us-gaap_InterestIncomeAndInterestExpenseDisclosureTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Interest Income and Interest Expense Disclosure [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestIncomeAndInterestExpenseDisclosureTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_InterestIncomeAndInterestExpenseDisclosureTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestIncomeAndInterestExpenseDisclosureTableTextBlock" xlink:to="lab_us-gaap_InterestIncomeAndInterestExpenseDisclosureTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_ms_ScheduleOfIncomeTaxExpenseBenefitContinuingOperationsByJurisdictionTable_f22a6ca8-945b-4b44-b5eb-d71029ab3adf_terseLabel_en-US" xlink:label="lab_ms_ScheduleOfIncomeTaxExpenseBenefitContinuingOperationsByJurisdictionTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Income Tax Expense (Benefit), Continuing Operations, by Jurisdiction [Table] </link:label>
<link:label id="lab_ms_ScheduleOfIncomeTaxExpenseBenefitContinuingOperationsByJurisdictionTable_label_en-US" xlink:label="lab_ms_ScheduleOfIncomeTaxExpenseBenefitContinuingOperationsByJurisdictionTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Income Tax Expense (Benefit), Continuing Operations, by Jurisdiction [Table] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_ScheduleOfIncomeTaxExpenseBenefitContinuingOperationsByJurisdictionTable" xlink:href="ms-20231231.xsd#ms_ScheduleOfIncomeTaxExpenseBenefitContinuingOperationsByJurisdictionTable"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_ScheduleOfIncomeTaxExpenseBenefitContinuingOperationsByJurisdictionTable" xlink:to="lab_ms_ScheduleOfIncomeTaxExpenseBenefitContinuingOperationsByJurisdictionTable" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ShareBasedCompensationPerformanceSharesAwardOutstandingActivityTableTextBlock_e246768a-4b5c-4ca1-a8b4-0082040b9833_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationPerformanceSharesAwardOutstandingActivityTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of PSU Fair Value on Award Date </link:label>
<link:label id="lab_us-gaap_ShareBasedCompensationPerformanceSharesAwardOutstandingActivityTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationPerformanceSharesAwardOutstandingActivityTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Share-Based Payment Arrangement, Performance Shares, Outstanding Activity [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationPerformanceSharesAwardOutstandingActivityTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ShareBasedCompensationPerformanceSharesAwardOutstandingActivityTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationPerformanceSharesAwardOutstandingActivityTableTextBlock" xlink:to="lab_us-gaap_ShareBasedCompensationPerformanceSharesAwardOutstandingActivityTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_AvailableForSaleSecuritiesAbstract_056028e3-1002-4104-8018-d4eca0f15678_terseLabel_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Investment Securities—AFS and Deposits </link:label>
<link:label id="lab_us-gaap_AvailableForSaleSecuritiesAbstract_a936063f-4f01-4f14-9bd8-d6368056dbac_verboseLabel_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> AFS securities </link:label>
<link:label id="lab_us-gaap_AvailableForSaleSecuritiesAbstract_label_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt Securities, Available-for-Sale [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AvailableForSaleSecuritiesAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesAbstract" xlink:to="lab_us-gaap_AvailableForSaleSecuritiesAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_dei_EntityFileNumber_91ead40d-ce08-4b91-8dd7-b0258a6f9116_terseLabel_en-US" xlink:label="lab_dei_EntityFileNumber" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Entity File Number </link:label>
<link:label id="lab_dei_EntityFileNumber_label_en-US" xlink:label="lab_dei_EntityFileNumber" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Entity File Number </link:label>
<link:loc xlink:type="locator" xlink:label="loc_dei_EntityFileNumber" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityFileNumber"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityFileNumber" xlink:to="lab_dei_EntityFileNumber" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive_d2b7483c-3b52-49e5-bc64-496e9b613838_terseLabel_en-US" xlink:label="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Thereafter </link:label>
<link:label id="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive_label_en-US" xlink:label="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Lessee, Operating Lease, Liability, to be Paid, after Year Five </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive" xlink:to="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DerivativeTermOfContract_da6d85e7-5653-4d5d-b040-c116075fa594_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeTermOfContract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Maximum length of time over which forecasted cash flows are hedged </link:label>
<link:label id="lab_us-gaap_DerivativeTermOfContract_label_en-US" xlink:label="lab_us-gaap_DerivativeTermOfContract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative, Term of Contract </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeTermOfContract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DerivativeTermOfContract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeTermOfContract" xlink:to="lab_us-gaap_DerivativeTermOfContract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_61de60e8-e394-4ae0-97a9-db18d15ae1fa_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Year 3 </link:label>
<link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_label_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Long-Term Debt, Maturity, Year Three </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:to="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_TimeDepositMaturitiesYearOne_a0a81684-eaa2-4753-aec3-d133136b8e3e_terseLabel_en-US" xlink:label="lab_us-gaap_TimeDepositMaturitiesYearOne" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> 2024 </link:label>
<link:label id="lab_us-gaap_TimeDepositMaturitiesYearOne_label_en-US" xlink:label="lab_us-gaap_TimeDepositMaturitiesYearOne" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Time Deposit Maturities, Year One </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_TimeDepositMaturitiesYearOne" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_TimeDepositMaturitiesYearOne"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TimeDepositMaturitiesYearOne" xlink:to="lab_us-gaap_TimeDepositMaturitiesYearOne" xlink:type="arc" order="1"/>
<link:label id="lab_dei_AuditorFirmId_a938cfa9-9290-46ab-9841-b9e95dd420d6_terseLabel_en-US" xlink:label="lab_dei_AuditorFirmId" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Auditor Firm ID </link:label>
<link:label id="lab_dei_AuditorFirmId_label_en-US" xlink:label="lab_dei_AuditorFirmId" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Auditor Firm ID </link:label>
<link:loc xlink:type="locator" xlink:label="loc_dei_AuditorFirmId" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_AuditorFirmId"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_AuditorFirmId" xlink:to="lab_dei_AuditorFirmId" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_AmortizationOfIntangibleAssets_2027a776-4724-45ef-a9b8-92776c5d9dea_negatedLabel_en-US" xlink:label="lab_us-gaap_AmortizationOfIntangibleAssets" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Amortization expense </link:label>
<link:label id="lab_us-gaap_AmortizationOfIntangibleAssets_label_en-US" xlink:label="lab_us-gaap_AmortizationOfIntangibleAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Amortization of Intangible Assets </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AmortizationOfIntangibleAssets" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AmortizationOfIntangibleAssets"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AmortizationOfIntangibleAssets" xlink:to="lab_us-gaap_AmortizationOfIntangibleAssets" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_LoansReceivableHeldForSaleAmount_e966366d-7624-49fc-9e9b-456836bc1158_verboseLabel_en-US" xlink:label="lab_us-gaap_LoansReceivableHeldForSaleAmount" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Total loans </link:label>
<link:label id="lab_us-gaap_LoansReceivableHeldForSaleAmount_label_en-US" xlink:label="lab_us-gaap_LoansReceivableHeldForSaleAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financing Receivable, Held-for-Sale </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LoansReceivableHeldForSaleAmount" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LoansReceivableHeldForSaleAmount"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LoansReceivableHeldForSaleAmount" xlink:to="lab_us-gaap_LoansReceivableHeldForSaleAmount" xlink:type="arc" order="1"/>
<link:label id="lab_ms_CommitmentsGuaranteesAndOtherMember_57399b08-571a-4747-8a19-230ecf03dc86_terseLabel_en-US" xlink:label="lab_ms_CommitmentsGuaranteesAndOtherMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Commitments, guarantees and other </link:label>
<link:label id="lab_ms_CommitmentsGuaranteesAndOtherMember_label_en-US" xlink:label="lab_ms_CommitmentsGuaranteesAndOtherMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Commitments, Guarantees and Other </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_CommitmentsGuaranteesAndOtherMember" xlink:href="ms-20231231.xsd#ms_CommitmentsGuaranteesAndOtherMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_CommitmentsGuaranteesAndOtherMember" xlink:to="lab_ms_CommitmentsGuaranteesAndOtherMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_ScheduleOfSeniorDebtSubjectToPutOptionsOrLiquidityArrangementsTableTextBlock_43279275-4487-4ee3-a50a-9ea4593d5dc1_terseLabel_en-US" xlink:label="lab_ms_ScheduleOfSeniorDebtSubjectToPutOptionsOrLiquidityArrangementsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Senior Debt Subject to Put Options or Liquidity Obligations </link:label>
<link:label id="lab_ms_ScheduleOfSeniorDebtSubjectToPutOptionsOrLiquidityArrangementsTableTextBlock_label_en-US" xlink:label="lab_ms_ScheduleOfSeniorDebtSubjectToPutOptionsOrLiquidityArrangementsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Senior Debt Subject to Put Options or Liquidity Arrangements [Table Text Block] </link:label>
<link:label id="lab_ms_ScheduleOfSeniorDebtSubjectToPutOptionsOrLiquidityArrangementsTableTextBlock_documentation_en-US" xlink:label="lab_ms_ScheduleOfSeniorDebtSubjectToPutOptionsOrLiquidityArrangementsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Tabular disclosure of information related to senior debt that is structured to be callable by the issuer or extendible at the option of holders of the senior debt securities. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_ScheduleOfSeniorDebtSubjectToPutOptionsOrLiquidityArrangementsTableTextBlock" xlink:href="ms-20231231.xsd#ms_ScheduleOfSeniorDebtSubjectToPutOptionsOrLiquidityArrangementsTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_ScheduleOfSeniorDebtSubjectToPutOptionsOrLiquidityArrangementsTableTextBlock" xlink:to="lab_ms_ScheduleOfSeniorDebtSubjectToPutOptionsOrLiquidityArrangementsTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions_2d5b7ec3-d66a-4379-999e-82abfa3fbc73_terseLabel_en-US" xlink:label="lab_us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Increases based on tax positions related to the current period </link:label>
<link:label id="lab_us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions_label_en-US" xlink:label="lab_us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Unrecognized Tax Benefits, Increase Resulting from Current Period Tax Positions </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions" xlink:to="lab_us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FairValueByAssetClassAxis_3551b456-0c4e-4cf9-9d62-ad958ff24310_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueByAssetClassAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Asset Class [Axis] </link:label>
<link:label id="lab_us-gaap_FairValueByAssetClassAxis_label_en-US" xlink:label="lab_us-gaap_FairValueByAssetClassAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Asset Class [Axis] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueByAssetClassAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueByAssetClassAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueByAssetClassAxis" xlink:to="lab_us-gaap_FairValueByAssetClassAxis" xlink:type="arc" order="1"/>
<link:label id="lab_ms_PreferredStockDisclosureTableTextBlock_eaf9b8ad-e775-4713-b74b-fd6edd7b393e_terseLabel_en-US" xlink:label="lab_ms_PreferredStockDisclosureTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Preferred Stock, Issuance Description and Dividends </link:label>
<link:label id="lab_ms_PreferredStockDisclosureTableTextBlock_label_en-US" xlink:label="lab_ms_PreferredStockDisclosureTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Preferred Stock Disclosure [Table Text Block] </link:label>
<link:label id="lab_ms_PreferredStockDisclosureTableTextBlock_documentation_en-US" xlink:label="lab_ms_PreferredStockDisclosureTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Tabular disclosure of the entire disclosure for terms, amounts, nature of changes, rights and privileges, dividends, and other matters related to preferred stock. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_PreferredStockDisclosureTableTextBlock" xlink:href="ms-20231231.xsd#ms_PreferredStockDisclosureTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_PreferredStockDisclosureTableTextBlock" xlink:to="lab_ms_PreferredStockDisclosureTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DividendsPreferredStockAbstract_44a26dca-8ff7-4036-8953-adb6d182f22c_terseLabel_en-US" xlink:label="lab_us-gaap_DividendsPreferredStockAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Preferred Stock Dividends </link:label>
<link:label id="lab_us-gaap_DividendsPreferredStockAbstract_label_en-US" xlink:label="lab_us-gaap_DividendsPreferredStockAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Dividends, Preferred Stock [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DividendsPreferredStockAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DividendsPreferredStockAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DividendsPreferredStockAbstract" xlink:to="lab_us-gaap_DividendsPreferredStockAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_VariableLeaseCost_1644936d-1697-4bd9-9574-03cf69df73ae_terseLabel_en-US" xlink:label="lab_us-gaap_VariableLeaseCost" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Variable costs </link:label>
<link:label id="lab_us-gaap_VariableLeaseCost_label_en-US" xlink:label="lab_us-gaap_VariableLeaseCost" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Variable Lease, Cost </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_VariableLeaseCost" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_VariableLeaseCost"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_VariableLeaseCost" xlink:to="lab_us-gaap_VariableLeaseCost" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger_88227299-156b-438b-95af-e775792493ed_terseLabel_en-US" xlink:label="lab_us-gaap_DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> AFS: Fair Value, 12 Months or Longer </link:label>
<link:label id="lab_us-gaap_DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger_label_en-US" xlink:label="lab_us-gaap_DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger" xlink:to="lab_us-gaap_DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_LongTermDebt_e1755e41-5df1-4dcb-89ca-23dc07c6105f_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Total greater than one year </link:label>
<link:label id="lab_us-gaap_LongTermDebt_74866bf1-9bf8-4dea-9b08-52f9baa83f38_totalLabel_en-US" xlink:label="lab_us-gaap_LongTermDebt" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Total </link:label>
<link:label id="lab_us-gaap_LongTermDebt_label_en-US" xlink:label="lab_us-gaap_LongTermDebt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Long-Term Debt </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebt" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LongTermDebt"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebt" xlink:to="lab_us-gaap_LongTermDebt" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_AssetsSoldUnderAgreementsToRepurchaseMaturityPeriodsAxis_a9257db8-ec23-40c2-a13b-11aa7571e1a7_terseLabel_en-US" xlink:label="lab_us-gaap_AssetsSoldUnderAgreementsToRepurchaseMaturityPeriodsAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Repurchase Agreements and Similar Transactions, Maturity Periods [Axis] </link:label>
<link:label id="lab_us-gaap_AssetsSoldUnderAgreementsToRepurchaseMaturityPeriodsAxis_label_en-US" xlink:label="lab_us-gaap_AssetsSoldUnderAgreementsToRepurchaseMaturityPeriodsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Repurchase Agreements and Similar Transactions, Maturity Periods [Axis] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AssetsSoldUnderAgreementsToRepurchaseMaturityPeriodsAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AssetsSoldUnderAgreementsToRepurchaseMaturityPeriodsAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetsSoldUnderAgreementsToRepurchaseMaturityPeriodsAxis" xlink:to="lab_us-gaap_AssetsSoldUnderAgreementsToRepurchaseMaturityPeriodsAxis" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_AccumulatedTranslationAdjustmentMember_625f8a0b-3e30-4f4b-94bf-a528b9fd60aa_verboseLabel_en-US" xlink:label="lab_us-gaap_AccumulatedTranslationAdjustmentMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> CTA </link:label>
<link:label id="lab_us-gaap_AccumulatedTranslationAdjustmentMember_acd87d93-d033-4db7-b1b5-82a99e4c28d6_terseLabel_en-US" xlink:label="lab_us-gaap_AccumulatedTranslationAdjustmentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Foreign Currency Translation Adjustment Attributable to Parent </link:label>
<link:label id="lab_us-gaap_AccumulatedTranslationAdjustmentMember_label_en-US" xlink:label="lab_us-gaap_AccumulatedTranslationAdjustmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Accumulated Foreign Currency Adjustment Attributable to Parent [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccumulatedTranslationAdjustmentMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AccumulatedTranslationAdjustmentMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccumulatedTranslationAdjustmentMember" xlink:to="lab_us-gaap_AccumulatedTranslationAdjustmentMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_CommonClassAMember_facff685-2554-4682-b8c7-775333a44b95_verboseLabel_en-US" xlink:label="lab_us-gaap_CommonClassAMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Common Stock, $0.01 par value </link:label>
<link:label id="lab_us-gaap_CommonClassAMember_label_en-US" xlink:label="lab_us-gaap_CommonClassAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Common Class A [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonClassAMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CommonClassAMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonClassAMember" xlink:to="lab_us-gaap_CommonClassAMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ProceedsFromPaymentsForOtherFinancingActivities_4da04e00-eaa3-4187-b052-2bcd8603798b_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromPaymentsForOtherFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other financing activities </link:label>
<link:label id="lab_us-gaap_ProceedsFromPaymentsForOtherFinancingActivities_label_en-US" xlink:label="lab_us-gaap_ProceedsFromPaymentsForOtherFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Proceeds from (Payments for) Other Financing Activities </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromPaymentsForOtherFinancingActivities" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ProceedsFromPaymentsForOtherFinancingActivities"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromPaymentsForOtherFinancingActivities" xlink:to="lab_us-gaap_ProceedsFromPaymentsForOtherFinancingActivities" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ComprehensiveIncomeNetOfTax_783c92eb-4c9e-4221-a5a8-78d5c5229685_totalLabel_en-US" xlink:label="lab_us-gaap_ComprehensiveIncomeNetOfTax" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Comprehensive income applicable to Morgan Stanley </link:label>
<link:label id="lab_us-gaap_ComprehensiveIncomeNetOfTax_label_en-US" xlink:label="lab_us-gaap_ComprehensiveIncomeNetOfTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Comprehensive Income (Loss), Net of Tax, Attributable to Parent </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ComprehensiveIncomeNetOfTax" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ComprehensiveIncomeNetOfTax"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ComprehensiveIncomeNetOfTax" xlink:to="lab_us-gaap_ComprehensiveIncomeNetOfTax" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ScheduleOfExpectedBenefitPaymentsTableTextBlock_bde32868-2b64-4383-be98-283d833bd49e_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfExpectedBenefitPaymentsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Expected Future Benefit Payments </link:label>
<link:label id="lab_us-gaap_ScheduleOfExpectedBenefitPaymentsTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfExpectedBenefitPaymentsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Expected Benefit Payments [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfExpectedBenefitPaymentsTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfExpectedBenefitPaymentsTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfExpectedBenefitPaymentsTableTextBlock" xlink:to="lab_us-gaap_ScheduleOfExpectedBenefitPaymentsTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_SeriesFPreferredStockMember_03f72b76-ccd1-44a6-92a2-2cc4bc601741_verboseLabel_en-US" xlink:label="lab_us-gaap_SeriesFPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Non-Cumulative Preferred Stock, Series F, $0.01 par value </link:label>
<link:label id="lab_us-gaap_SeriesFPreferredStockMember_6a425905-16ad-40e8-aff8-f4ed5d75d487_terseLabel_en-US" xlink:label="lab_us-gaap_SeriesFPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Series F </link:label>
<link:label id="lab_us-gaap_SeriesFPreferredStockMember_label_en-US" xlink:label="lab_us-gaap_SeriesFPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Series F Preferred Stock [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_SeriesFPreferredStockMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SeriesFPreferredStockMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SeriesFPreferredStockMember" xlink:to="lab_us-gaap_SeriesFPreferredStockMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DefinedBenefitPlanFundedStatusOfPlan_2827d33a-f708-4159-a316-462f43617dc0_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanFundedStatusOfPlan" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Funded (unfunded) status </link:label>
<link:label id="lab_us-gaap_DefinedBenefitPlanFundedStatusOfPlan_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanFundedStatusOfPlan" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Defined Benefit Plan, Funded (Unfunded) Status of Plan </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanFundedStatusOfPlan" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DefinedBenefitPlanFundedStatusOfPlan"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanFundedStatusOfPlan" xlink:to="lab_us-gaap_DefinedBenefitPlanFundedStatusOfPlan" xlink:type="arc" order="1"/>
<link:label id="lab_ms_LessThanTwelveMonthsFromBalanceSheetDateMember_22bee386-9093-4d4a-b9fe-d52a4f2392b8_terseLabel_en-US" xlink:label="lab_ms_LessThanTwelveMonthsFromBalanceSheetDateMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Less Than 1 (Year) </link:label>
<link:label id="lab_ms_LessThanTwelveMonthsFromBalanceSheetDateMember_label_en-US" xlink:label="lab_ms_LessThanTwelveMonthsFromBalanceSheetDateMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Less than Twelve Months from Balance Sheet Date [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_LessThanTwelveMonthsFromBalanceSheetDateMember" xlink:href="ms-20231231.xsd#ms_LessThanTwelveMonthsFromBalanceSheetDateMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_LessThanTwelveMonthsFromBalanceSheetDateMember" xlink:to="lab_ms_LessThanTwelveMonthsFromBalanceSheetDateMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_IncomeTaxExpenseBenefitContinuingOperationsByJurisdictionLineItems_f84991e2-f37f-4c11-af47-9473d1d7e56e_terseLabel_en-US" xlink:label="lab_ms_IncomeTaxExpenseBenefitContinuingOperationsByJurisdictionLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Components of Income Tax Expense (Benefit) from Continuing Operations, by Jurisdiction </link:label>
<link:label id="lab_ms_IncomeTaxExpenseBenefitContinuingOperationsByJurisdictionLineItems_label_en-US" xlink:label="lab_ms_IncomeTaxExpenseBenefitContinuingOperationsByJurisdictionLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Income Tax Expense (Benefit), Continuing Operations, by Jurisdiction [Line Items] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_IncomeTaxExpenseBenefitContinuingOperationsByJurisdictionLineItems" xlink:href="ms-20231231.xsd#ms_IncomeTaxExpenseBenefitContinuingOperationsByJurisdictionLineItems"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_IncomeTaxExpenseBenefitContinuingOperationsByJurisdictionLineItems" xlink:to="lab_ms_IncomeTaxExpenseBenefitContinuingOperationsByJurisdictionLineItems" xlink:type="arc" order="1"/>
<link:label id="lab_dei_EntityAddressAddressLine1_35bb175b-ac7e-4d4c-8148-afe20128ad3e_terseLabel_en-US" xlink:label="lab_dei_EntityAddressAddressLine1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Entity Address, Address Line One </link:label>
<link:label id="lab_dei_EntityAddressAddressLine1_label_en-US" xlink:label="lab_dei_EntityAddressAddressLine1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Entity Address, Address Line One </link:label>
<link:loc xlink:type="locator" xlink:label="loc_dei_EntityAddressAddressLine1" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressAddressLine1"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityAddressAddressLine1" xlink:to="lab_dei_EntityAddressAddressLine1" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_AccruedLiabilitiesAndOtherLiabilities_d2f922ac-5b6d-4a98-87d1-1cf87b6c5bb5_terseLabel_en-US" xlink:label="lab_us-gaap_AccruedLiabilitiesAndOtherLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other liabilities and accrued expenses </link:label>
<link:label id="lab_us-gaap_AccruedLiabilitiesAndOtherLiabilities_label_en-US" xlink:label="lab_us-gaap_AccruedLiabilitiesAndOtherLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Accrued Liabilities and Other Liabilities </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccruedLiabilitiesAndOtherLiabilities" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AccruedLiabilitiesAndOtherLiabilities"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccruedLiabilitiesAndOtherLiabilities" xlink:to="lab_us-gaap_AccruedLiabilitiesAndOtherLiabilities" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract_d03e3ed9-07ea-4143-b39a-43116e7e51ca_terseLabel_en-US" xlink:label="lab_us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financial Liabilities </link:label>
<link:label id="lab_us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract_label_en-US" xlink:label="lab_us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract" xlink:to="lab_us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_MeasurementInputSharePriceMember_4810623d-a85c-4215-b9e5-b62ac65a9302_terseLabel_en-US" xlink:label="lab_us-gaap_MeasurementInputSharePriceMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Equity Price </link:label>
<link:label id="lab_us-gaap_MeasurementInputSharePriceMember_label_en-US" xlink:label="lab_us-gaap_MeasurementInputSharePriceMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Measurement Input, Share Price [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_MeasurementInputSharePriceMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_MeasurementInputSharePriceMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MeasurementInputSharePriceMember" xlink:to="lab_us-gaap_MeasurementInputSharePriceMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_DeferredCompensationArrangementWithIndividualCompensationExpenseRetirementEligibleAwards_331635ad-aca5-423d-9017-07f69077116e_terseLabel_en-US" xlink:label="lab_ms_DeferredCompensationArrangementWithIndividualCompensationExpenseRetirementEligibleAwards" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Retirement eligible awards </link:label>
<link:label id="lab_ms_DeferredCompensationArrangementWithIndividualCompensationExpenseRetirementEligibleAwards_label_en-US" xlink:label="lab_ms_DeferredCompensationArrangementWithIndividualCompensationExpenseRetirementEligibleAwards" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Deferred Compensation Arrangement with Individual, Compensation Expense, Retirement-eligible Awards </link:label>
<link:label id="lab_ms_DeferredCompensationArrangementWithIndividualCompensationExpenseRetirementEligibleAwards_documentation_en-US" xlink:label="lab_ms_DeferredCompensationArrangementWithIndividualCompensationExpenseRetirementEligibleAwards" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> The compensation expense recognized during the period pertaining to the deferred compensation arrangement with employees who satisfied retirement-eligible requirements under award terms that do not contain a service period. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_DeferredCompensationArrangementWithIndividualCompensationExpenseRetirementEligibleAwards" xlink:href="ms-20231231.xsd#ms_DeferredCompensationArrangementWithIndividualCompensationExpenseRetirementEligibleAwards"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_DeferredCompensationArrangementWithIndividualCompensationExpenseRetirementEligibleAwards" xlink:to="lab_ms_DeferredCompensationArrangementWithIndividualCompensationExpenseRetirementEligibleAwards" xlink:type="arc" order="1"/>
<link:label id="lab_ms_DebtSecuritiesHeldtomaturityMaturityAllocatedandSingleMaturityDateRollingafterFiveThroughTenYearsAmortizedCostLessAllowanceforCreditLoss_267050d4-7b7c-499d-ae44-a231eb11054c_terseLabel_en-US" xlink:label="lab_ms_DebtSecuritiesHeldtomaturityMaturityAllocatedandSingleMaturityDateRollingafterFiveThroughTenYearsAmortizedCostLessAllowanceforCreditLoss" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> HTM securities: Net carrying amount, after 5 year through 10 years </link:label>
<link:label id="lab_ms_DebtSecuritiesHeldtomaturityMaturityAllocatedandSingleMaturityDateRollingafterFiveThroughTenYearsAmortizedCostLessAllowanceforCreditLoss_label_en-US" xlink:label="lab_ms_DebtSecuritiesHeldtomaturityMaturityAllocatedandSingleMaturityDateRollingafterFiveThroughTenYearsAmortizedCostLessAllowanceforCreditLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, Rolling after Five Through Ten Years, Amortized Cost Less Allowance for Credit Loss </link:label>
<link:label id="lab_ms_DebtSecuritiesHeldtomaturityMaturityAllocatedandSingleMaturityDateRollingafterFiveThroughTenYearsAmortizedCostLessAllowanceforCreditLoss_documentation_en-US" xlink:label="lab_ms_DebtSecuritiesHeldtomaturityMaturityAllocatedandSingleMaturityDateRollingafterFiveThroughTenYearsAmortizedCostLessAllowanceforCreditLoss" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, Rolling after Five Through Ten Years, Amortized Cost Less Allowance for Credit Loss </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_DebtSecuritiesHeldtomaturityMaturityAllocatedandSingleMaturityDateRollingafterFiveThroughTenYearsAmortizedCostLessAllowanceforCreditLoss" xlink:href="ms-20231231.xsd#ms_DebtSecuritiesHeldtomaturityMaturityAllocatedandSingleMaturityDateRollingafterFiveThroughTenYearsAmortizedCostLessAllowanceforCreditLoss"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_DebtSecuritiesHeldtomaturityMaturityAllocatedandSingleMaturityDateRollingafterFiveThroughTenYearsAmortizedCostLessAllowanceforCreditLoss" xlink:to="lab_ms_DebtSecuritiesHeldtomaturityMaturityAllocatedandSingleMaturityDateRollingafterFiveThroughTenYearsAmortizedCostLessAllowanceforCreditLoss" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_PortionAtOtherThanFairValueFairValueDisclosureMember_0bca1bb4-5583-45c7-b422-0a16c32748ed_terseLabel_en-US" xlink:label="lab_us-gaap_PortionAtOtherThanFairValueFairValueDisclosureMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Carrying Value </link:label>
<link:label id="lab_us-gaap_PortionAtOtherThanFairValueFairValueDisclosureMember_label_en-US" xlink:label="lab_us-gaap_PortionAtOtherThanFairValueFairValueDisclosureMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Portion at Other than Fair Value Measurement [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_PortionAtOtherThanFairValueFairValueDisclosureMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PortionAtOtherThanFairValueFairValueDisclosureMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PortionAtOtherThanFairValueFairValueDisclosureMember" xlink:to="lab_us-gaap_PortionAtOtherThanFairValueFairValueDisclosureMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems_2cad5078-054b-4549-809a-b2636e077ff3_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Balance Sheet Captions </link:label>
<link:label id="lab_us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems_label_en-US" xlink:label="lab_us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems" xlink:to="lab_us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeBeforeTax_b36614c3-0be9-48e9-a9e7-d7b149e47be5_negatedPeriodStartLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeBeforeTax" xlink:role="http://www.xbrl.org/2009/role/negatedPeriodStartLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Beginning balance </link:label>
<link:label id="lab_us-gaap_DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeBeforeTax_117545a1-8031-417c-b330-ce4e97f7586a_negatedPeriodEndLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeBeforeTax" xlink:role="http://www.xbrl.org/2009/role/negatedPeriodEndLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Ending balance </link:label>
<link:label id="lab_us-gaap_DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeBeforeTax_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeBeforeTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeBeforeTax" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeBeforeTax"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeBeforeTax" xlink:to="lab_us-gaap_DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeBeforeTax" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_SubsequentEventMember_35850fc8-2116-499f-aa7b-35894f82797c_terseLabel_en-US" xlink:label="lab_us-gaap_SubsequentEventMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Subsequent Event </link:label>
<link:label id="lab_us-gaap_SubsequentEventMember_label_en-US" xlink:label="lab_us-gaap_SubsequentEventMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Subsequent Event [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_SubsequentEventMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SubsequentEventMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsequentEventMember" xlink:to="lab_us-gaap_SubsequentEventMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_DeferredCompensationArrangementWithIndividualCompensationExpenseAndReturnOnReferencedInvestments_051b8d62-5bab-45eb-9fda-c28dd841da69_totalLabel_en-US" xlink:label="lab_ms_DeferredCompensationArrangementWithIndividualCompensationExpenseAndReturnOnReferencedInvestments" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Total </link:label>
<link:label id="lab_ms_DeferredCompensationArrangementWithIndividualCompensationExpenseAndReturnOnReferencedInvestments_label_en-US" xlink:label="lab_ms_DeferredCompensationArrangementWithIndividualCompensationExpenseAndReturnOnReferencedInvestments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Deferred Compensation Arrangement with Individual, Compensation Expense and Return on Referenced Investments </link:label>
<link:label id="lab_ms_DeferredCompensationArrangementWithIndividualCompensationExpenseAndReturnOnReferencedInvestments_documentation_en-US" xlink:label="lab_ms_DeferredCompensationArrangementWithIndividualCompensationExpenseAndReturnOnReferencedInvestments" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> The aggregate amount of the compensation expense recognized during the period pertaining to the deferred compensation arrangement. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_DeferredCompensationArrangementWithIndividualCompensationExpenseAndReturnOnReferencedInvestments" xlink:href="ms-20231231.xsd#ms_DeferredCompensationArrangementWithIndividualCompensationExpenseAndReturnOnReferencedInvestments"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_DeferredCompensationArrangementWithIndividualCompensationExpenseAndReturnOnReferencedInvestments" xlink:to="lab_ms_DeferredCompensationArrangementWithIndividualCompensationExpenseAndReturnOnReferencedInvestments" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_LoanRestructuringModificationDomain_0222b5be-4de7-4eca-9b90-2e5a536cddc1_terseLabel_en-US" xlink:label="lab_us-gaap_LoanRestructuringModificationDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Loan Restructuring Modification [Domain] </link:label>
<link:label id="lab_us-gaap_LoanRestructuringModificationDomain_label_en-US" xlink:label="lab_us-gaap_LoanRestructuringModificationDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Loan Restructuring Modification [Domain] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LoanRestructuringModificationDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LoanRestructuringModificationDomain"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LoanRestructuringModificationDomain" xlink:to="lab_us-gaap_LoanRestructuringModificationDomain" xlink:type="arc" order="1"/>
<link:label id="lab_ms_SecuritizationsRepresentationsAndGuaranteesMember_441e8eeb-7358-4232-9c67-0934b86e1051_terseLabel_en-US" xlink:label="lab_ms_SecuritizationsRepresentationsAndGuaranteesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Securitizations representations and warranties </link:label>
<link:label id="lab_ms_SecuritizationsRepresentationsAndGuaranteesMember_label_en-US" xlink:label="lab_ms_SecuritizationsRepresentationsAndGuaranteesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Securitizations Representations and Guarantees [Member] </link:label>
<link:label id="lab_ms_SecuritizationsRepresentationsAndGuaranteesMember_documentation_en-US" xlink:label="lab_ms_SecuritizationsRepresentationsAndGuaranteesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Securitizations Representations and Guarantees </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_SecuritizationsRepresentationsAndGuaranteesMember" xlink:href="ms-20231231.xsd#ms_SecuritizationsRepresentationsAndGuaranteesMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_SecuritizationsRepresentationsAndGuaranteesMember" xlink:to="lab_ms_SecuritizationsRepresentationsAndGuaranteesMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ValuationTechniqueAxis_55ced674-7284-4ef1-aa97-03ffe01feb65_terseLabel_en-US" xlink:label="lab_us-gaap_ValuationTechniqueAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Valuation Approach and Technique [Axis] </link:label>
<link:label id="lab_us-gaap_ValuationTechniqueAxis_label_en-US" xlink:label="lab_us-gaap_ValuationTechniqueAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Valuation Approach and Technique [Axis] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ValuationTechniqueAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ValuationTechniqueAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ValuationTechniqueAxis" xlink:to="lab_us-gaap_ValuationTechniqueAxis" xlink:type="arc" order="1"/>
<link:label id="lab_ms_OtherSecuredFinancingsFairValueDisclosure_d4e83e50-2987-4e88-9e0e-7c4cc86ac800_verboseLabel_en-US" xlink:label="lab_ms_OtherSecuredFinancingsFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other secured financings at fair value </link:label>
<link:label id="lab_ms_OtherSecuredFinancingsFairValueDisclosure_b290c457-87cb-48d9-8fbd-01fb1ccd4658_terseLabel_en-US" xlink:label="lab_ms_OtherSecuredFinancingsFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other secured financings </link:label>
<link:label id="lab_ms_OtherSecuredFinancingsFairValueDisclosure_label_en-US" xlink:label="lab_ms_OtherSecuredFinancingsFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other Secured Financings, Fair Value Disclosure </link:label>
<link:label id="lab_ms_OtherSecuredFinancingsFairValueDisclosure_documentation_en-US" xlink:label="lab_ms_OtherSecuredFinancingsFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair value portion of secured financings other than securities sold under agreements to repurchase and securities loaned. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_OtherSecuredFinancingsFairValueDisclosure" xlink:href="ms-20231231.xsd#ms_OtherSecuredFinancingsFairValueDisclosure"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_OtherSecuredFinancingsFairValueDisclosure" xlink:to="lab_ms_OtherSecuredFinancingsFairValueDisclosure" xlink:type="arc" order="1"/>
<link:label id="lab_ms_ScheduleOfAccountsNotesLoansAndFinancingReceivableInterestRateTypeTableTextBlock_868b4b13-6683-42c0-97fd-bee3d2766053_terseLabel_en-US" xlink:label="lab_ms_ScheduleOfAccountsNotesLoansAndFinancingReceivableInterestRateTypeTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Loans by Interest Rate Type </link:label>
<link:label id="lab_ms_ScheduleOfAccountsNotesLoansAndFinancingReceivableInterestRateTypeTableTextBlock_label_en-US" xlink:label="lab_ms_ScheduleOfAccountsNotesLoansAndFinancingReceivableInterestRateTypeTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Accounts, Notes, Loans and Financing Receivable, Interest Rate Type [Table Text Block] </link:label>
<link:label id="lab_ms_ScheduleOfAccountsNotesLoansAndFinancingReceivableInterestRateTypeTableTextBlock_documentation_en-US" xlink:label="lab_ms_ScheduleOfAccountsNotesLoansAndFinancingReceivableInterestRateTypeTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Accounts, Notes, Loans and Financing Receivable, Interest Rate Type </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_ScheduleOfAccountsNotesLoansAndFinancingReceivableInterestRateTypeTableTextBlock" xlink:href="ms-20231231.xsd#ms_ScheduleOfAccountsNotesLoansAndFinancingReceivableInterestRateTypeTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_ScheduleOfAccountsNotesLoansAndFinancingReceivableInterestRateTypeTableTextBlock" xlink:to="lab_ms_ScheduleOfAccountsNotesLoansAndFinancingReceivableInterestRateTypeTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DefinedBenefitPlanNetPeriodicBenefitCostAbstract_228b45f9-47b3-45d2-a6b2-a69550d20759_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanNetPeriodicBenefitCostAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Components of Net Periodic Benefit Expense (Income) </link:label>
<link:label id="lab_us-gaap_DefinedBenefitPlanNetPeriodicBenefitCostAbstract_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanNetPeriodicBenefitCostAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanNetPeriodicBenefitCostAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DefinedBenefitPlanNetPeriodicBenefitCostAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanNetPeriodicBenefitCostAbstract" xlink:to="lab_us-gaap_DefinedBenefitPlanNetPeriodicBenefitCostAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_ms_MunicipalTenderOptionBondsMember_36cbaa4d-3526-4d49-a759-43d0b060b7b1_terseLabel_en-US" xlink:label="lab_ms_MunicipalTenderOptionBondsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> MTOB </link:label>
<link:label id="lab_ms_MunicipalTenderOptionBondsMember_f67031c3-ee8f-4da7-97fc-4ed83f175032_verboseLabel_en-US" xlink:label="lab_ms_MunicipalTenderOptionBondsMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> MTOB </link:label>
<link:label id="lab_ms_MunicipalTenderOptionBondsMember_label_en-US" xlink:label="lab_ms_MunicipalTenderOptionBondsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Municipal Tender Option Bonds [Member] </link:label>
<link:label id="lab_ms_MunicipalTenderOptionBondsMember_documentation_en-US" xlink:label="lab_ms_MunicipalTenderOptionBondsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Municipal Tender Option Bonds </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_MunicipalTenderOptionBondsMember" xlink:href="ms-20231231.xsd#ms_MunicipalTenderOptionBondsMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_MunicipalTenderOptionBondsMember" xlink:to="lab_ms_MunicipalTenderOptionBondsMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_LendingCommitmentMember_43f7ad51-2bf7-48e0-8b0c-fa657f6c71e2_verboseLabel_en-US" xlink:label="lab_ms_LendingCommitmentMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Loans </link:label>
<link:label id="lab_ms_LendingCommitmentMember_label_en-US" xlink:label="lab_ms_LendingCommitmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Lending commitment [Member] </link:label>
<link:label id="lab_ms_LendingCommitmentMember_documentation_en-US" xlink:label="lab_ms_LendingCommitmentMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> It represents the notitonal amount of legally binding obligations to provide funding to clients for different types of loan transactions. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_LendingCommitmentMember" xlink:href="ms-20231231.xsd#ms_LendingCommitmentMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_LendingCommitmentMember" xlink:to="lab_ms_LendingCommitmentMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation_69f9d40d-f622-47d6-a003-bb4250ce46b6_terseLabel_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Share-based award activity </link:label>
<link:label id="lab_us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation_label_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Shares Issued, Value, Share-Based Payment Arrangement, after Forfeiture </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation" xlink:to="lab_us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation" xlink:type="arc" order="1"/>
<link:label id="lab_ms_InvestmentSecuritiesAmortizedCost_cc277a9c-ef03-4c35-a8d8-607005f0c339_terseLabel_en-US" xlink:label="lab_ms_InvestmentSecuritiesAmortizedCost" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Amortized Cost </link:label>
<link:label id="lab_ms_InvestmentSecuritiesAmortizedCost_4ec506d1-28e9-4e8f-abd3-cfb0163587b5_totalLabel_en-US" xlink:label="lab_ms_InvestmentSecuritiesAmortizedCost" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Investment securities: Amortized cost, total </link:label>
<link:label id="lab_ms_InvestmentSecuritiesAmortizedCost_label_en-US" xlink:label="lab_ms_InvestmentSecuritiesAmortizedCost" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Investment Securities Amortized Cost </link:label>
<link:label id="lab_ms_InvestmentSecuritiesAmortizedCost_documentation_en-US" xlink:label="lab_ms_InvestmentSecuritiesAmortizedCost" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> This item represents the investment securities, including, but not limited to, marketable securities, derivative financial instruments, and investments accounted for under the equity method, which are net of adjustments including accretion, amortization, collection of cash, previous other-than-temporary impairments recognized in earnings (less any cumulative-effect adjustments recognized, as defined), and fair value hedge accounting adjustments, if any. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_InvestmentSecuritiesAmortizedCost" xlink:href="ms-20231231.xsd#ms_InvestmentSecuritiesAmortizedCost"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_InvestmentSecuritiesAmortizedCost" xlink:to="lab_ms_InvestmentSecuritiesAmortizedCost" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ClassOfStockLineItems_804b03a5-3ea0-4db0-a504-552b18ac0ac2_terseLabel_en-US" xlink:label="lab_us-gaap_ClassOfStockLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Class of Stock </link:label>
<link:label id="lab_us-gaap_ClassOfStockLineItems_label_en-US" xlink:label="lab_us-gaap_ClassOfStockLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Class of Stock [Line Items] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ClassOfStockLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ClassOfStockLineItems"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ClassOfStockLineItems" xlink:to="lab_us-gaap_ClassOfStockLineItems" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ExchangeClearedMember_745b5c71-6b06-4024-a743-c7f443f4b926_terseLabel_en-US" xlink:label="lab_us-gaap_ExchangeClearedMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Cleared OTC </link:label>
<link:label id="lab_us-gaap_ExchangeClearedMember_label_en-US" xlink:label="lab_us-gaap_ExchangeClearedMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Exchange Cleared [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ExchangeClearedMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ExchangeClearedMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ExchangeClearedMember" xlink:to="lab_us-gaap_ExchangeClearedMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_ScheduleOfProceedsFromSecuritizationTransactionsTableTextBlock_0030ed82-360a-47e2-a778-7638bcb2fe05_terseLabel_en-US" xlink:label="lab_ms_ScheduleOfProceedsFromSecuritizationTransactionsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Proceeds from New Securitization Transactions and Sales of Loans </link:label>
<link:label id="lab_ms_ScheduleOfProceedsFromSecuritizationTransactionsTableTextBlock_label_en-US" xlink:label="lab_ms_ScheduleOfProceedsFromSecuritizationTransactionsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule Of Proceeds From Securitization Transactions [Table Text Block] </link:label>
<link:label id="lab_ms_ScheduleOfProceedsFromSecuritizationTransactionsTableTextBlock_documentation_en-US" xlink:label="lab_ms_ScheduleOfProceedsFromSecuritizationTransactionsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Tabular disclosure of the proceeds received from securitization activities. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_ScheduleOfProceedsFromSecuritizationTransactionsTableTextBlock" xlink:href="ms-20231231.xsd#ms_ScheduleOfProceedsFromSecuritizationTransactionsTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_ScheduleOfProceedsFromSecuritizationTransactionsTableTextBlock" xlink:to="lab_ms_ScheduleOfProceedsFromSecuritizationTransactionsTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_OtherComprehensiveIncomeLossTaxAbstract_89f1aa31-880a-4690-bf1b-099881b8892c_terseLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossTaxAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Income Tax Benefit (Provision) </link:label>
<link:label id="lab_us-gaap_OtherComprehensiveIncomeLossTaxAbstract_label_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossTaxAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other Comprehensive Income (Loss), Tax [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossTaxAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OtherComprehensiveIncomeLossTaxAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherComprehensiveIncomeLossTaxAbstract" xlink:to="lab_us-gaap_OtherComprehensiveIncomeLossTaxAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_EquityMethodInvestments_68b9344c-04e9-42cf-86c9-e95adf83e618_terseLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Investments </link:label>
<link:label id="lab_us-gaap_EquityMethodInvestments_label_en-US" xlink:label="lab_us-gaap_EquityMethodInvestments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Equity Method Investments </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_EquityMethodInvestments" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_EquityMethodInvestments"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityMethodInvestments" xlink:to="lab_us-gaap_EquityMethodInvestments" xlink:type="arc" order="1"/>
<link:label id="lab_ms_MeasurementInputForeignExchangeCorrelationMember_d416125e-52bb-4482-9e67-0462588fd803_terseLabel_en-US" xlink:label="lab_ms_MeasurementInputForeignExchangeCorrelationMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> FX Correlation </link:label>
<link:label id="lab_ms_MeasurementInputForeignExchangeCorrelationMember_label_en-US" xlink:label="lab_ms_MeasurementInputForeignExchangeCorrelationMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Measurement Input, Foreign Exchange Correlation [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_MeasurementInputForeignExchangeCorrelationMember" xlink:href="ms-20231231.xsd#ms_MeasurementInputForeignExchangeCorrelationMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_MeasurementInputForeignExchangeCorrelationMember" xlink:to="lab_ms_MeasurementInputForeignExchangeCorrelationMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_OtherInvestmentsMember_3689bab1-64a1-4b28-906e-c8b22431c8de_verboseLabel_en-US" xlink:label="lab_us-gaap_OtherInvestmentsMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other assets-other investments </link:label>
<link:label id="lab_us-gaap_OtherInvestmentsMember_8ffa5b8a-dc39-4a5d-917c-5973e3b27b56_terseLabel_en-US" xlink:label="lab_us-gaap_OtherInvestmentsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other investments </link:label>
<link:label id="lab_us-gaap_OtherInvestmentsMember_label_en-US" xlink:label="lab_us-gaap_OtherInvestmentsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other Investments [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherInvestmentsMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OtherInvestmentsMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherInvestmentsMember" xlink:to="lab_us-gaap_OtherInvestmentsMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FinancialInstrumentAxis_ff0f1ed5-d136-4dcb-8322-3ae1c2d40dde_terseLabel_en-US" xlink:label="lab_us-gaap_FinancialInstrumentAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financial Instrument [Axis] </link:label>
<link:label id="lab_us-gaap_FinancialInstrumentAxis_label_en-US" xlink:label="lab_us-gaap_FinancialInstrumentAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financial Instrument [Axis] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancialInstrumentAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FinancialInstrumentAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancialInstrumentAxis" xlink:to="lab_us-gaap_FinancialInstrumentAxis" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_InterestReceivable_2756c787-e954-4865-bb34-a1b638a01f54_terseLabel_en-US" xlink:label="lab_us-gaap_InterestReceivable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Customer and other receivables </link:label>
<link:label id="lab_us-gaap_InterestReceivable_label_en-US" xlink:label="lab_us-gaap_InterestReceivable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Interest Receivable </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestReceivable" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_InterestReceivable"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestReceivable" xlink:to="lab_us-gaap_InterestReceivable" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_NotDesignatedAsHedgingInstrumentTradingMember_8e3f4505-395f-4672-9390-28db7e06671f_terseLabel_en-US" xlink:label="lab_us-gaap_NotDesignatedAsHedgingInstrumentTradingMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other derivatives </link:label>
<link:label id="lab_us-gaap_NotDesignatedAsHedgingInstrumentTradingMember_label_en-US" xlink:label="lab_us-gaap_NotDesignatedAsHedgingInstrumentTradingMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Not Designated as Hedging Instrument, Trading [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_NotDesignatedAsHedgingInstrumentTradingMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_NotDesignatedAsHedgingInstrumentTradingMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NotDesignatedAsHedgingInstrumentTradingMember" xlink:to="lab_us-gaap_NotDesignatedAsHedgingInstrumentTradingMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageGrantDateFairValueAbstract_9677acb5-1376-4b51-b444-b715d52ab228_terseLabel_en-US" xlink:label="lab_ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageGrantDateFairValueAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Weighted Average Award Date Fair Value </link:label>
<link:label id="lab_ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageGrantDateFairValueAbstract_label_en-US" xlink:label="lab_ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageGrantDateFairValueAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Weighted Average Grant Date Fair Value [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageGrantDateFairValueAbstract" xlink:href="ms-20231231.xsd#ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageGrantDateFairValueAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageGrantDateFairValueAbstract" xlink:to="lab_ms_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageGrantDateFairValueAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_SecuritiesLoanedGrossIncludingNotSubjectToMasterNettingArrangement_05fab8d1-2ef3-4233-aca0-a1c8c54bb573_verboseLabel_en-US" xlink:label="lab_us-gaap_SecuritiesLoanedGrossIncludingNotSubjectToMasterNettingArrangement" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Gross Amounts </link:label>
<link:label id="lab_us-gaap_SecuritiesLoanedGrossIncludingNotSubjectToMasterNettingArrangement_ac3bd9b1-9e61-490a-9079-7715afe752a8_terseLabel_en-US" xlink:label="lab_us-gaap_SecuritiesLoanedGrossIncludingNotSubjectToMasterNettingArrangement" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Securities loaned </link:label>
<link:label id="lab_us-gaap_SecuritiesLoanedGrossIncludingNotSubjectToMasterNettingArrangement_label_en-US" xlink:label="lab_us-gaap_SecuritiesLoanedGrossIncludingNotSubjectToMasterNettingArrangement" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Securities Loaned, Gross Including Not Subject to Master Netting Arrangement </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_SecuritiesLoanedGrossIncludingNotSubjectToMasterNettingArrangement" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SecuritiesLoanedGrossIncludingNotSubjectToMasterNettingArrangement"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SecuritiesLoanedGrossIncludingNotSubjectToMasterNettingArrangement" xlink:to="lab_us-gaap_SecuritiesLoanedGrossIncludingNotSubjectToMasterNettingArrangement" xlink:type="arc" order="1"/>
<link:label id="lab_dei_EntityCommonStockSharesOutstanding_e286875c-9681-4679-a721-6a20f73a8d39_terseLabel_en-US" xlink:label="lab_dei_EntityCommonStockSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Entity Common Stock, Shares Outstanding </link:label>
<link:label id="lab_dei_EntityCommonStockSharesOutstanding_label_en-US" xlink:label="lab_dei_EntityCommonStockSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Entity Common Stock, Shares Outstanding </link:label>
<link:loc xlink:type="locator" xlink:label="loc_dei_EntityCommonStockSharesOutstanding" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityCommonStockSharesOutstanding"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityCommonStockSharesOutstanding" xlink:to="lab_dei_EntityCommonStockSharesOutstanding" xlink:type="arc" order="1"/>
<link:label id="lab_ms_RedeemablePreferredStockPeriodFollowingRegulatoryCapitalTreatmentEventforRedemption_a0300828-41c9-430e-9fd8-60ecd73186a9_terseLabel_en-US" xlink:label="lab_ms_RedeemablePreferredStockPeriodFollowingRegulatoryCapitalTreatmentEventforRedemption" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Redemption period following regulatory capital treatment event </link:label>
<link:label id="lab_ms_RedeemablePreferredStockPeriodFollowingRegulatoryCapitalTreatmentEventforRedemption_label_en-US" xlink:label="lab_ms_RedeemablePreferredStockPeriodFollowingRegulatoryCapitalTreatmentEventforRedemption" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Redeemable Preferred Stock, Period Following Regulatory Capital Treatment Event for Redemption </link:label>
<link:label id="lab_ms_RedeemablePreferredStockPeriodFollowingRegulatoryCapitalTreatmentEventforRedemption_documentation_en-US" xlink:label="lab_ms_RedeemablePreferredStockPeriodFollowingRegulatoryCapitalTreatmentEventforRedemption" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Redeemable Preferred Stock, Period Following Regulatory Capital Treatment Event for Redemption </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_RedeemablePreferredStockPeriodFollowingRegulatoryCapitalTreatmentEventforRedemption" xlink:href="ms-20231231.xsd#ms_RedeemablePreferredStockPeriodFollowingRegulatoryCapitalTreatmentEventforRedemption"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_RedeemablePreferredStockPeriodFollowingRegulatoryCapitalTreatmentEventforRedemption" xlink:to="lab_ms_RedeemablePreferredStockPeriodFollowingRegulatoryCapitalTreatmentEventforRedemption" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember_94226547-935d-4dac-9e1b-707c50a17f9f_terseLabel_en-US" xlink:label="lab_us-gaap_MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Non-agency CMBS </link:label>
<link:label id="lab_us-gaap_MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember_label_en-US" xlink:label="lab_us-gaap_MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Mortgage-Backed Securities, Issued by Private Enterprises [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember" xlink:to="lab_us-gaap_MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DeferredForeignIncomeTaxExpenseBenefit_7f23ebd9-582d-4a5c-8549-7ce55769be7d_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredForeignIncomeTaxExpenseBenefit" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Non-U.S. </link:label>
<link:label id="lab_us-gaap_DeferredForeignIncomeTaxExpenseBenefit_label_en-US" xlink:label="lab_us-gaap_DeferredForeignIncomeTaxExpenseBenefit" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Deferred Foreign Income Tax Expense (Benefit) </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredForeignIncomeTaxExpenseBenefit" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DeferredForeignIncomeTaxExpenseBenefit"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredForeignIncomeTaxExpenseBenefit" xlink:to="lab_us-gaap_DeferredForeignIncomeTaxExpenseBenefit" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FinancialInstrumentsSoldNotYetPurchasedAtFairValue_7d3065d9-dbde-437f-bfc1-7267db1b645d_verboseLabel_en-US" xlink:label="lab_us-gaap_FinancialInstrumentsSoldNotYetPurchasedAtFairValue" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Trading liabilities at fair value </link:label>
<link:label id="lab_us-gaap_FinancialInstrumentsSoldNotYetPurchasedAtFairValue_label_en-US" xlink:label="lab_us-gaap_FinancialInstrumentsSoldNotYetPurchasedAtFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financial Instruments Sold, Not yet Purchased, at Fair Value </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancialInstrumentsSoldNotYetPurchasedAtFairValue" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FinancialInstrumentsSoldNotYetPurchasedAtFairValue"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancialInstrumentsSoldNotYetPurchasedAtFairValue" xlink:to="lab_us-gaap_FinancialInstrumentsSoldNotYetPurchasedAtFairValue" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_SegmentDomain_4ebc52e9-cc0a-46b5-8e7f-8d7db67610ad_terseLabel_en-US" xlink:label="lab_us-gaap_SegmentDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Segments [Domain] </link:label>
<link:label id="lab_us-gaap_SegmentDomain_label_en-US" xlink:label="lab_us-gaap_SegmentDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Segments [Domain] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_SegmentDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SegmentDomain"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SegmentDomain" xlink:to="lab_us-gaap_SegmentDomain" xlink:type="arc" order="1"/>
<link:label id="lab_srt_ConsolidationItemsDomain_0796535d-451b-49d6-bcf8-6668c232b534_terseLabel_en-US" xlink:label="lab_srt_ConsolidationItemsDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Consolidation Items [Domain] </link:label>
<link:label id="lab_srt_ConsolidationItemsDomain_label_en-US" xlink:label="lab_srt_ConsolidationItemsDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Consolidation Items [Domain] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_srt_ConsolidationItemsDomain" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_ConsolidationItemsDomain"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_ConsolidationItemsDomain" xlink:to="lab_srt_ConsolidationItemsDomain" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_TimeDepositMaturitiesYearFour_74b64505-693c-4c61-a5bd-f46efbb4880f_terseLabel_en-US" xlink:label="lab_us-gaap_TimeDepositMaturitiesYearFour" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> 2027 </link:label>
<link:label id="lab_us-gaap_TimeDepositMaturitiesYearFour_label_en-US" xlink:label="lab_us-gaap_TimeDepositMaturitiesYearFour" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Time Deposit Maturities, Year Four </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_TimeDepositMaturitiesYearFour" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_TimeDepositMaturitiesYearFour"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TimeDepositMaturitiesYearFour" xlink:to="lab_us-gaap_TimeDepositMaturitiesYearFour" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_RetainedEarningsAccumulatedDeficit_0e635eb3-232e-48a6-a89c-c98b457314d2_terseLabel_en-US" xlink:label="lab_us-gaap_RetainedEarningsAccumulatedDeficit" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Retained earnings </link:label>
<link:label id="lab_us-gaap_RetainedEarningsAccumulatedDeficit_label_en-US" xlink:label="lab_us-gaap_RetainedEarningsAccumulatedDeficit" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Retained Earnings (Accumulated Deficit) </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_RetainedEarningsAccumulatedDeficit" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_RetainedEarningsAccumulatedDeficit"/>
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<link:label id="lab_us-gaap_CollateralDomain_b9361aba-a596-4844-a113-267b46c44668_terseLabel_en-US" xlink:label="lab_us-gaap_CollateralDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Collateral [Domain] </link:label>
<link:label id="lab_us-gaap_CollateralDomain_label_en-US" xlink:label="lab_us-gaap_CollateralDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Collateral Held [Domain] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CollateralDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CollateralDomain"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CollateralDomain" xlink:to="lab_us-gaap_CollateralDomain" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_GoodwillMember_655aeb63-72e3-4573-92f8-2b38325d6755_terseLabel_en-US" xlink:label="lab_us-gaap_GoodwillMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Goodwill </link:label>
<link:label id="lab_us-gaap_GoodwillMember_label_en-US" xlink:label="lab_us-gaap_GoodwillMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Goodwill [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_GoodwillMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_GoodwillMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GoodwillMember" xlink:to="lab_us-gaap_GoodwillMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_HeldToMaturitySecuritiesDebtMaturitiesYearSixThroughTenAnnualizedAverageYield_e9a297c7-b35f-4d70-be81-e446b75f1395_terseLabel_en-US" xlink:label="lab_ms_HeldToMaturitySecuritiesDebtMaturitiesYearSixThroughTenAnnualizedAverageYield" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> HTM securities: Annualized average yield, after 5 years through 10 years (as a percent) </link:label>
<link:label id="lab_ms_HeldToMaturitySecuritiesDebtMaturitiesYearSixThroughTenAnnualizedAverageYield_label_en-US" xlink:label="lab_ms_HeldToMaturitySecuritiesDebtMaturitiesYearSixThroughTenAnnualizedAverageYield" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Held-to-maturity Securities Debt Maturities, Year Six Through Ten, Annualized Average Yield </link:label>
<link:label id="lab_ms_HeldToMaturitySecuritiesDebtMaturitiesYearSixThroughTenAnnualizedAverageYield_documentation_en-US" xlink:label="lab_ms_HeldToMaturitySecuritiesDebtMaturitiesYearSixThroughTenAnnualizedAverageYield" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Annualized average yield of Held-to-maturity securities maturing in the sixth fiscal year through the tenth fiscal year following the latest fiscal year. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_HeldToMaturitySecuritiesDebtMaturitiesYearSixThroughTenAnnualizedAverageYield" xlink:href="ms-20231231.xsd#ms_HeldToMaturitySecuritiesDebtMaturitiesYearSixThroughTenAnnualizedAverageYield"/>
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<link:label id="lab_ms_ValuationTechniqueComparablePricingMember_bed5b10c-9234-4990-b32e-6aca2e939943_terseLabel_en-US" xlink:label="lab_ms_ValuationTechniqueComparablePricingMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Comparable Pricing </link:label>
<link:label id="lab_ms_ValuationTechniqueComparablePricingMember_label_en-US" xlink:label="lab_ms_ValuationTechniqueComparablePricingMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Valuation Technique, Comparable Pricing [Member] </link:label>
<link:label id="lab_ms_ValuationTechniqueComparablePricingMember_documentation_en-US" xlink:label="lab_ms_ValuationTechniqueComparablePricingMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Valuation approach when prices for the identical instrument are not available. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_ValuationTechniqueComparablePricingMember" xlink:href="ms-20231231.xsd#ms_ValuationTechniqueComparablePricingMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_ValuationTechniqueComparablePricingMember" xlink:to="lab_ms_ValuationTechniqueComparablePricingMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_MeasurementInputLoanPriceMember_33190c30-e265-4218-813e-586224688f8d_terseLabel_en-US" xlink:label="lab_ms_MeasurementInputLoanPriceMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Loan Price </link:label>
<link:label id="lab_ms_MeasurementInputLoanPriceMember_label_en-US" xlink:label="lab_ms_MeasurementInputLoanPriceMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Measurement Input, Loan Price [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_MeasurementInputLoanPriceMember" xlink:href="ms-20231231.xsd#ms_MeasurementInputLoanPriceMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_MeasurementInputLoanPriceMember" xlink:to="lab_ms_MeasurementInputLoanPriceMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_ViacomMember_62e017d2-8d23-485d-94bb-3398075a6142_terseLabel_en-US" xlink:label="lab_ms_ViacomMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Viacom </link:label>
<link:label id="lab_ms_ViacomMember_label_en-US" xlink:label="lab_ms_ViacomMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Viacom [Member] </link:label>
<link:label id="lab_ms_ViacomMember_documentation_en-US" xlink:label="lab_ms_ViacomMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Viacom </link:label>
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<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_ViacomMember" xlink:to="lab_ms_ViacomMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DerivativeLiabilityFairValueGrossAssetAndRightToReclaimCashOffset_009779ce-62e6-43f7-a66c-0dc38d6e545f_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_DerivativeLiabilityFairValueGrossAssetAndRightToReclaimCashOffset" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Netting </link:label>
<link:label id="lab_us-gaap_DerivativeLiabilityFairValueGrossAssetAndRightToReclaimCashOffset_label_en-US" xlink:label="lab_us-gaap_DerivativeLiabilityFairValueGrossAssetAndRightToReclaimCashOffset" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeLiabilityFairValueGrossAssetAndRightToReclaimCashOffset" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DerivativeLiabilityFairValueGrossAssetAndRightToReclaimCashOffset"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeLiabilityFairValueGrossAssetAndRightToReclaimCashOffset" xlink:to="lab_us-gaap_DerivativeLiabilityFairValueGrossAssetAndRightToReclaimCashOffset" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ResidentialMortgageBackedSecuritiesMember_be00fd50-f576-4c57-93c3-919e96e981d1_verboseLabel_en-US" xlink:label="lab_us-gaap_ResidentialMortgageBackedSecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Residential mortgages </link:label>
<link:label id="lab_us-gaap_ResidentialMortgageBackedSecuritiesMember_label_en-US" xlink:label="lab_us-gaap_ResidentialMortgageBackedSecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Residential Mortgage-Backed Securities [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ResidentialMortgageBackedSecuritiesMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ResidentialMortgageBackedSecuritiesMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ResidentialMortgageBackedSecuritiesMember" xlink:to="lab_us-gaap_ResidentialMortgageBackedSecuritiesMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ScheduleOfDerivativeAssetsAtFairValueTableTextBlock_bea9ec3c-3f2f-47d6-80e3-bc32c68bde0d_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfDerivativeAssetsAtFairValueTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Fair Values of Derivative Asset Contracts </link:label>
<link:label id="lab_us-gaap_ScheduleOfDerivativeAssetsAtFairValueTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfDerivativeAssetsAtFairValueTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Derivative Assets at Fair Value [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfDerivativeAssetsAtFairValueTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfDerivativeAssetsAtFairValueTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfDerivativeAssetsAtFairValueTableTextBlock" xlink:to="lab_us-gaap_ScheduleOfDerivativeAssetsAtFairValueTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionQualitativeDisclosureAbstract_04f92697-2953-4c90-8ec0-bf5dd78833b0_terseLabel_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionQualitativeDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Available-for-sale Securities, Continuous Unrealized Loss Position, Qualitative Disclosure [Abstract] </link:label>
<link:label id="lab_us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionQualitativeDisclosureAbstract_label_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionQualitativeDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Available-for-Sale Securities, Continuous Unrealized Loss Position, Qualitative Disclosure [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionQualitativeDisclosureAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionQualitativeDisclosureAbstract"/>
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<link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossLineItems_aa69fe19-9c13-44e5-abef-e39b2167cd16_terseLabel_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Accumulated Other Comprehensive Income (Loss) [Line Items] </link:label>
<link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossLineItems_label_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Accumulated Other Comprehensive Income (Loss) [Line Items] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossLineItems"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossLineItems" xlink:to="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossLineItems" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationByAssetClassDomain_8f86299c-dabd-42ce-9f28-8cea30609519_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationByAssetClassDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Asset Class [Domain] </link:label>
<link:label id="lab_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationByAssetClassDomain_label_en-US" xlink:label="lab_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationByAssetClassDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Asset Class [Domain] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationByAssetClassDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationByAssetClassDomain"/>
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<link:label id="lab_us-gaap_EffectiveIncomeTaxRateReconciliationOtherAdjustments_ce3ff591-7016-4496-bc70-15bfea1e12a5_terseLabel_en-US" xlink:label="lab_us-gaap_EffectiveIncomeTaxRateReconciliationOtherAdjustments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other </link:label>
<link:label id="lab_us-gaap_EffectiveIncomeTaxRateReconciliationOtherAdjustments_label_en-US" xlink:label="lab_us-gaap_EffectiveIncomeTaxRateReconciliationOtherAdjustments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Effective Income Tax Rate Reconciliation, Other Adjustments, Percent </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateReconciliationOtherAdjustments" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationOtherAdjustments"/>
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<link:label id="lab_us-gaap_ClassOfStockDomain_fe17f989-c23d-4258-9cec-681e18878aec_terseLabel_en-US" xlink:label="lab_us-gaap_ClassOfStockDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Class of Stock [Domain] </link:label>
<link:label id="lab_us-gaap_ClassOfStockDomain_label_en-US" xlink:label="lab_us-gaap_ClassOfStockDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Class of Stock [Domain] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ClassOfStockDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ClassOfStockDomain"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ClassOfStockDomain" xlink:to="lab_us-gaap_ClassOfStockDomain" xlink:type="arc" order="1"/>
<link:label id="lab_ms_CollateralizedLoanObligationsEntitiesSponsoredByNonAffiliatesMember_64c5c9f8-6144-4ea2-bc47-f6d14790add0_terseLabel_en-US" xlink:label="lab_ms_CollateralizedLoanObligationsEntitiesSponsoredByNonAffiliatesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> CLO SPEs </link:label>
<link:label id="lab_ms_CollateralizedLoanObligationsEntitiesSponsoredByNonAffiliatesMember_label_en-US" xlink:label="lab_ms_CollateralizedLoanObligationsEntitiesSponsoredByNonAffiliatesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Collateralized Loan Obligations Entities Sponsored by Non-Affiliates [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_CollateralizedLoanObligationsEntitiesSponsoredByNonAffiliatesMember" xlink:href="ms-20231231.xsd#ms_CollateralizedLoanObligationsEntitiesSponsoredByNonAffiliatesMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_CollateralizedLoanObligationsEntitiesSponsoredByNonAffiliatesMember" xlink:to="lab_ms_CollateralizedLoanObligationsEntitiesSponsoredByNonAffiliatesMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_CollaborativeArrangementMember_d65ea869-f6fa-4530-bdd4-d58cbfd75367_terseLabel_en-US" xlink:label="lab_us-gaap_CollaborativeArrangementMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Bilateral Downgrade Agreement </link:label>
<link:label id="lab_us-gaap_CollaborativeArrangementMember_label_en-US" xlink:label="lab_us-gaap_CollaborativeArrangementMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Collaborative Arrangement [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CollaborativeArrangementMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CollaborativeArrangementMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CollaborativeArrangementMember" xlink:to="lab_us-gaap_CollaborativeArrangementMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_SecuritiesBorrowedGrossIncludingNotSubjectToMasterNettingArrangement_f96d4be5-50bf-456b-9111-2b6be93f8fd1_terseLabel_en-US" xlink:label="lab_us-gaap_SecuritiesBorrowedGrossIncludingNotSubjectToMasterNettingArrangement" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Gross Amounts </link:label>
<link:label id="lab_us-gaap_SecuritiesBorrowedGrossIncludingNotSubjectToMasterNettingArrangement_label_en-US" xlink:label="lab_us-gaap_SecuritiesBorrowedGrossIncludingNotSubjectToMasterNettingArrangement" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Securities Borrowed, Gross Including Not Subject to Master Netting Arrangement </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_SecuritiesBorrowedGrossIncludingNotSubjectToMasterNettingArrangement" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SecuritiesBorrowedGrossIncludingNotSubjectToMasterNettingArrangement"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SecuritiesBorrowedGrossIncludingNotSubjectToMasterNettingArrangement" xlink:to="lab_us-gaap_SecuritiesBorrowedGrossIncludingNotSubjectToMasterNettingArrangement" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_LitigationSettlementExpense_c8ccfc0d-ffdd-4c9f-a951-cb2c8f79e214_terseLabel_en-US" xlink:label="lab_us-gaap_LitigationSettlementExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Legal expenses </link:label>
<link:label id="lab_us-gaap_LitigationSettlementExpense_label_en-US" xlink:label="lab_us-gaap_LitigationSettlementExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Litigation Settlement, Expense </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LitigationSettlementExpense" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LitigationSettlementExpense"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LitigationSettlementExpense" xlink:to="lab_us-gaap_LitigationSettlementExpense" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_EffectiveIncomeTaxRateContinuingOperations_68f7ccad-5681-4635-a188-7b218122486f_totalLabel_en-US" xlink:label="lab_us-gaap_EffectiveIncomeTaxRateContinuingOperations" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Effective income tax rate </link:label>
<link:label id="lab_us-gaap_EffectiveIncomeTaxRateContinuingOperations_label_en-US" xlink:label="lab_us-gaap_EffectiveIncomeTaxRateContinuingOperations" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Effective Income Tax Rate Reconciliation, Percent </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateContinuingOperations" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_EffectiveIncomeTaxRateContinuingOperations"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EffectiveIncomeTaxRateContinuingOperations" xlink:to="lab_us-gaap_EffectiveIncomeTaxRateContinuingOperations" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeTax_1cf42366-4ec1-45a0-975c-5a75d2d2c534_totalLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeTax" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Changes recognized in OCI </link:label>
<link:label id="lab_us-gaap_OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeTax_label_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, before Tax </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeTax" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeTax"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeTax" xlink:to="lab_us-gaap_OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeTax" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_SecuritiesAssetsMember_89595215-9314-415d-8d96-27bad53dd681_verboseLabel_en-US" xlink:label="lab_us-gaap_SecuritiesAssetsMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt and Equity Interests </link:label>
<link:label id="lab_us-gaap_SecuritiesAssetsMember_label_en-US" xlink:label="lab_us-gaap_SecuritiesAssetsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Securities (Assets) [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_SecuritiesAssetsMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SecuritiesAssetsMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SecuritiesAssetsMember" xlink:to="lab_us-gaap_SecuritiesAssetsMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_CollateralReceivedToTotalAssetsRatioMember_f0e2839a-5318-4807-8809-98ceaff50b65_terseLabel_en-US" xlink:label="lab_ms_CollateralReceivedToTotalAssetsRatioMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Off balance sheet—Collateral received </link:label>
<link:label id="lab_ms_CollateralReceivedToTotalAssetsRatioMember_label_en-US" xlink:label="lab_ms_CollateralReceivedToTotalAssetsRatioMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Collateral Received to Total Assets Ratio [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_CollateralReceivedToTotalAssetsRatioMember" xlink:href="ms-20231231.xsd#ms_CollateralReceivedToTotalAssetsRatioMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_CollateralReceivedToTotalAssetsRatioMember" xlink:to="lab_ms_CollateralReceivedToTotalAssetsRatioMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_ScheduleOfLongTermDebtByTypeTableTextBlock_73955732-dd66-47c8-9be2-4c18ee818007_terseLabel_en-US" xlink:label="lab_ms_ScheduleOfLongTermDebtByTypeTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Borrowings with Original Maturities Greater than One Year </link:label>
<link:label id="lab_ms_ScheduleOfLongTermDebtByTypeTableTextBlock_label_en-US" xlink:label="lab_ms_ScheduleOfLongTermDebtByTypeTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Long-term Debt, by Type [Table Text Block] </link:label>
<link:label id="lab_ms_ScheduleOfLongTermDebtByTypeTableTextBlock_documentation_en-US" xlink:label="lab_ms_ScheduleOfLongTermDebtByTypeTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Tabular disclosure of long-term debt by type. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_ScheduleOfLongTermDebtByTypeTableTextBlock" xlink:href="ms-20231231.xsd#ms_ScheduleOfLongTermDebtByTypeTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_ScheduleOfLongTermDebtByTypeTableTextBlock" xlink:to="lab_ms_ScheduleOfLongTermDebtByTypeTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_b40032fb-8ec4-4c24-8d84-ac403d989687_terseLabel_en-US" xlink:label="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Introduction and Basis of Presentation </link:label>
<link:label id="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" xlink:to="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeMember_83e42f72-12b3-4f9a-9660-8b6651a929a5_terseLabel_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Accumulated Other Comprehensive Income (Loss) </link:label>
<link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeMember_1d2d985e-4d26-4e94-b0bf-3bbd48e868da_verboseLabel_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Total </link:label>
<link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeMember_label_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> AOCI Attributable to Parent [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccumulatedOtherComprehensiveIncomeMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccumulatedOtherComprehensiveIncomeMember" xlink:to="lab_us-gaap_AccumulatedOtherComprehensiveIncomeMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_LoansReceivableHeldForSaleNetNotPartOfDisposalGroup_4608a313-517c-4127-b200-64aa31a551ec_verboseLabel_en-US" xlink:label="lab_us-gaap_LoansReceivableHeldForSaleNetNotPartOfDisposalGroup" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Held for sale </link:label>
<link:label id="lab_us-gaap_LoansReceivableHeldForSaleNetNotPartOfDisposalGroup_4428b7e8-892b-402a-8a3f-d4163fc54a0b_terseLabel_en-US" xlink:label="lab_us-gaap_LoansReceivableHeldForSaleNetNotPartOfDisposalGroup" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Held for sale </link:label>
<link:label id="lab_us-gaap_LoansReceivableHeldForSaleNetNotPartOfDisposalGroup_25e1d814-fcb2-418d-9aec-157a8a37f393_totalLabel_en-US" xlink:label="lab_us-gaap_LoansReceivableHeldForSaleNetNotPartOfDisposalGroup" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Total loans, net </link:label>
<link:label id="lab_us-gaap_LoansReceivableHeldForSaleNetNotPartOfDisposalGroup_label_en-US" xlink:label="lab_us-gaap_LoansReceivableHeldForSaleNetNotPartOfDisposalGroup" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financing Receivable, Held-for-Sale, Not Part of Disposal Group, after Valuation Allowance </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LoansReceivableHeldForSaleNetNotPartOfDisposalGroup" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LoansReceivableHeldForSaleNetNotPartOfDisposalGroup"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LoansReceivableHeldForSaleNetNotPartOfDisposalGroup" xlink:to="lab_us-gaap_LoansReceivableHeldForSaleNetNotPartOfDisposalGroup" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DefinedContributionPlanCostRecognized_c747f6e1-19ba-4537-9aca-4c739335172a_verboseLabel_en-US" xlink:label="lab_us-gaap_DefinedContributionPlanCostRecognized" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Expense </link:label>
<link:label id="lab_us-gaap_DefinedContributionPlanCostRecognized_label_en-US" xlink:label="lab_us-gaap_DefinedContributionPlanCostRecognized" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Defined Contribution Plan, Cost </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedContributionPlanCostRecognized" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DefinedContributionPlanCostRecognized"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedContributionPlanCostRecognized" xlink:to="lab_us-gaap_DefinedContributionPlanCostRecognized" xlink:type="arc" order="1"/>
<link:label id="lab_ms_FiniteLivedIntangibleAssetsDisposedDuringPeriod_3e8c1874-b018-462c-8e98-2fafed9e250a_negatedTerseLabel_en-US" xlink:label="lab_ms_FiniteLivedIntangibleAssetsDisposedDuringPeriod" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Disposals </link:label>
<link:label id="lab_ms_FiniteLivedIntangibleAssetsDisposedDuringPeriod_label_en-US" xlink:label="lab_ms_FiniteLivedIntangibleAssetsDisposedDuringPeriod" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Finite Lived Intangible Assets Disposed During Period </link:label>
<link:label id="lab_ms_FiniteLivedIntangibleAssetsDisposedDuringPeriod_documentation_en-US" xlink:label="lab_ms_FiniteLivedIntangibleAssetsDisposedDuringPeriod" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Finite-lived Intangible Assets, Disposed During Period </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_FiniteLivedIntangibleAssetsDisposedDuringPeriod" xlink:href="ms-20231231.xsd#ms_FiniteLivedIntangibleAssetsDisposedDuringPeriod"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_FiniteLivedIntangibleAssetsDisposedDuringPeriod" xlink:to="lab_ms_FiniteLivedIntangibleAssetsDisposedDuringPeriod" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_SettledLitigationMember_784d07d7-081b-4d02-b64e-6b4bc19ee70e_terseLabel_en-US" xlink:label="lab_us-gaap_SettledLitigationMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Settled Litigation </link:label>
<link:label id="lab_us-gaap_SettledLitigationMember_label_en-US" xlink:label="lab_us-gaap_SettledLitigationMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Settled Litigation [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_SettledLitigationMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SettledLitigationMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SettledLitigationMember" xlink:to="lab_us-gaap_SettledLitigationMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_MeasurementInputInterestRateVolatilitySkewMember_7f0fc611-4f36-4159-b571-f4603089702a_terseLabel_en-US" xlink:label="lab_ms_MeasurementInputInterestRateVolatilitySkewMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> IR Volatility Skew </link:label>
<link:label id="lab_ms_MeasurementInputInterestRateVolatilitySkewMember_label_en-US" xlink:label="lab_ms_MeasurementInputInterestRateVolatilitySkewMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Measurement Input, Interest Rate Volatility Skew [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_MeasurementInputInterestRateVolatilitySkewMember" xlink:href="ms-20231231.xsd#ms_MeasurementInputInterestRateVolatilitySkewMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_MeasurementInputInterestRateVolatilitySkewMember" xlink:to="lab_ms_MeasurementInputInterestRateVolatilitySkewMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_MorganStanleyBankNationalAssociationMember_c7bc2f7b-c706-470e-9740-71405c2a1c8f_terseLabel_en-US" xlink:label="lab_ms_MorganStanleyBankNationalAssociationMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> MSBNA </link:label>
<link:label id="lab_ms_MorganStanleyBankNationalAssociationMember_label_en-US" xlink:label="lab_ms_MorganStanleyBankNationalAssociationMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Morgan Stanley Bank, National Association [Member] </link:label>
<link:label id="lab_ms_MorganStanleyBankNationalAssociationMember_documentation_en-US" xlink:label="lab_ms_MorganStanleyBankNationalAssociationMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Morgan Stanley Bank, National Association </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_MorganStanleyBankNationalAssociationMember" xlink:href="ms-20231231.xsd#ms_MorganStanleyBankNationalAssociationMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_MorganStanleyBankNationalAssociationMember" xlink:to="lab_ms_MorganStanleyBankNationalAssociationMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_TimeDeposits_158a4eeb-7855-41d8-8d93-54d66cd56fae_terseLabel_en-US" xlink:label="lab_us-gaap_TimeDeposits" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Time deposits </link:label>
<link:label id="lab_us-gaap_TimeDeposits_788087d4-f219-4883-b458-ed02047b733b_totalLabel_en-US" xlink:label="lab_us-gaap_TimeDeposits" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Total </link:label>
<link:label id="lab_us-gaap_TimeDeposits_label_en-US" xlink:label="lab_us-gaap_TimeDeposits" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Time Deposits </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_TimeDeposits" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_TimeDeposits"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TimeDeposits" xlink:to="lab_us-gaap_TimeDeposits" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_AccumulatedDefinedBenefitPlansAdjustmentMember_2d6c141d-0a82-442a-99f7-3efa90737a27_verboseLabel_en-US" xlink:label="lab_us-gaap_AccumulatedDefinedBenefitPlansAdjustmentMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Pension and Other </link:label>
<link:label id="lab_us-gaap_AccumulatedDefinedBenefitPlansAdjustmentMember_dd008b13-80a9-4b06-a6fb-348259371cbb_terseLabel_en-US" xlink:label="lab_us-gaap_AccumulatedDefinedBenefitPlansAdjustmentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Pension and Other Attributable to Parent </link:label>
<link:label id="lab_us-gaap_AccumulatedDefinedBenefitPlansAdjustmentMember_label_en-US" xlink:label="lab_us-gaap_AccumulatedDefinedBenefitPlansAdjustmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccumulatedDefinedBenefitPlansAdjustmentMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AccumulatedDefinedBenefitPlansAdjustmentMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccumulatedDefinedBenefitPlansAdjustmentMember" xlink:to="lab_us-gaap_AccumulatedDefinedBenefitPlansAdjustmentMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DebtDisclosureAbstract_ad07fc72-8177-4d75-9a1e-3c7e007628dd_terseLabel_en-US" xlink:label="lab_us-gaap_DebtDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt Disclosure [Abstract] </link:label>
<link:label id="lab_us-gaap_DebtDisclosureAbstract_label_en-US" xlink:label="lab_us-gaap_DebtDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt Disclosure [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtDisclosureAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DebtDisclosureAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtDisclosureAbstract" xlink:to="lab_us-gaap_DebtDisclosureAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_EarningsPerShareAbstract_60134040-b677-47bb-83db-c59a7a5c6ef1_terseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerShareAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Earnings per common share </link:label>
<link:label id="lab_us-gaap_EarningsPerShareAbstract_label_en-US" xlink:label="lab_us-gaap_EarningsPerShareAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Earnings Per Share [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_EarningsPerShareAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_EarningsPerShareAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EarningsPerShareAbstract" xlink:to="lab_us-gaap_EarningsPerShareAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ScheduleOfVariableInterestEntitiesTextBlock_139cdbb3-44a9-4260-95a1-b06931308fe1_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfVariableInterestEntitiesTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Consolidated VIEs </link:label>
<link:label id="lab_us-gaap_ScheduleOfVariableInterestEntitiesTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfVariableInterestEntitiesTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Variable Interest Entities [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfVariableInterestEntitiesTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfVariableInterestEntitiesTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfVariableInterestEntitiesTextBlock" xlink:to="lab_us-gaap_ScheduleOfVariableInterestEntitiesTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingRollForward_44b8832f-279a-4ade-ba85-6d4ce77c27f2_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Number of Shares </link:label>
<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingRollForward_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingRollForward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingRollForward" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingRollForward"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingRollForward" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingRollForward" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_CapitalRequiredForCapitalAdequacyToRiskWeightedAssets_cf5188e0-f59c-4f93-88ab-0248a3260e8a_verboseLabel_en-US" xlink:label="lab_us-gaap_CapitalRequiredForCapitalAdequacyToRiskWeightedAssets" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Standardized (as a percent) </link:label>
<link:label id="lab_us-gaap_CapitalRequiredForCapitalAdequacyToRiskWeightedAssets_61c8b3bd-3e11-4d41-927e-5f4e833d8429_terseLabel_en-US" xlink:label="lab_us-gaap_CapitalRequiredForCapitalAdequacyToRiskWeightedAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Total capital (as a percent) </link:label>
<link:label id="lab_us-gaap_CapitalRequiredForCapitalAdequacyToRiskWeightedAssets_label_en-US" xlink:label="lab_us-gaap_CapitalRequiredForCapitalAdequacyToRiskWeightedAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Banking Regulation, Total Risk-Based Capital Ratio, Capital Adequacy, Minimum </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CapitalRequiredForCapitalAdequacyToRiskWeightedAssets" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CapitalRequiredForCapitalAdequacyToRiskWeightedAssets"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CapitalRequiredForCapitalAdequacyToRiskWeightedAssets" xlink:to="lab_us-gaap_CapitalRequiredForCapitalAdequacyToRiskWeightedAssets" xlink:type="arc" order="1"/>
<link:label id="lab_ms_CommodityAndOtherContractsMember_c2c7b734-d865-4ce8-82e5-6f7f6fd421d5_terseLabel_en-US" xlink:label="lab_ms_CommodityAndOtherContractsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Commodity and other </link:label>
<link:label id="lab_ms_CommodityAndOtherContractsMember_d54bca19-d6f0-4e4c-80eb-488b17339bbe_verboseLabel_en-US" xlink:label="lab_ms_CommodityAndOtherContractsMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Commodities </link:label>
<link:label id="lab_ms_CommodityAndOtherContractsMember_label_en-US" xlink:label="lab_ms_CommodityAndOtherContractsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Commodity and Other Contracts [Member] </link:label>
<link:label id="lab_ms_CommodityAndOtherContractsMember_documentation_en-US" xlink:label="lab_ms_CommodityAndOtherContractsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative instrument whose primary underlying risk is tied to commodity contracts and other contracts that are not reported as interest rate, foreign exchange, equity security and index or credit contracts. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_CommodityAndOtherContractsMember" xlink:href="ms-20231231.xsd#ms_CommodityAndOtherContractsMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_CommodityAndOtherContractsMember" xlink:to="lab_ms_CommodityAndOtherContractsMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue_39cb7679-f4ff-4c5e-8fbf-3a2e4e353822_terseLabel_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> AFS securities: Fair value, after 1 year through 5 years </link:label>
<link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue_label_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year One Through Five </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue" xlink:to="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FairValueMeasuredAtNetAssetValuePerShareMember_a78b66c4-acf1-40fd-bdd3-56127650f628_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueMeasuredAtNetAssetValuePerShareMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Measured at NAV </link:label>
<link:label id="lab_us-gaap_FairValueMeasuredAtNetAssetValuePerShareMember_label_en-US" xlink:label="lab_us-gaap_FairValueMeasuredAtNetAssetValuePerShareMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value Measured at Net Asset Value Per Share [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueMeasuredAtNetAssetValuePerShareMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueMeasuredAtNetAssetValuePerShareMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueMeasuredAtNetAssetValuePerShareMember" xlink:to="lab_us-gaap_FairValueMeasuredAtNetAssetValuePerShareMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_TradeNamesMember_b4577684-9dec-4018-a198-b8e8d6c9c832_terseLabel_en-US" xlink:label="lab_us-gaap_TradeNamesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Trade names </link:label>
<link:label id="lab_us-gaap_TradeNamesMember_label_en-US" xlink:label="lab_us-gaap_TradeNamesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Trade Names [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_TradeNamesMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_TradeNamesMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TradeNamesMember" xlink:to="lab_us-gaap_TradeNamesMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_InterestPayableCurrentAndNoncurrent_dca8e9ad-f74d-438a-8975-471aec5e6ae1_terseLabel_en-US" xlink:label="lab_us-gaap_InterestPayableCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Customer and other payables </link:label>
<link:label id="lab_us-gaap_InterestPayableCurrentAndNoncurrent_label_en-US" xlink:label="lab_us-gaap_InterestPayableCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Interest Payable </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestPayableCurrentAndNoncurrent" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_InterestPayableCurrentAndNoncurrent"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestPayableCurrentAndNoncurrent" xlink:to="lab_us-gaap_InterestPayableCurrentAndNoncurrent" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_RestrictedCash_7073cdcb-9751-4fe8-8e8f-ff8f34ec1e89_terseLabel_en-US" xlink:label="lab_us-gaap_RestrictedCash" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Restricted cash </link:label>
<link:label id="lab_us-gaap_RestrictedCash_label_en-US" xlink:label="lab_us-gaap_RestrictedCash" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Restricted Cash </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_RestrictedCash" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_RestrictedCash"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RestrictedCash" xlink:to="lab_us-gaap_RestrictedCash" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_CashAndDueFromBanksAbstract_892f5383-fbe6-4295-aafd-7115d9abd8a9_terseLabel_en-US" xlink:label="lab_us-gaap_CashAndDueFromBanksAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Cash and cash equivalents: </link:label>
<link:label id="lab_us-gaap_CashAndDueFromBanksAbstract_label_en-US" xlink:label="lab_us-gaap_CashAndDueFromBanksAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Cash and Due from Banks [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashAndDueFromBanksAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CashAndDueFromBanksAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashAndDueFromBanksAbstract" xlink:to="lab_us-gaap_CashAndDueFromBanksAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_ms_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchasesAndOriginations_036a9bc0-bed3-4fae-945a-c4cfabac3108_terseLabel_en-US" xlink:label="lab_ms_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchasesAndOriginations" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Purchases and originations </link:label>
<link:label id="lab_ms_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchasesAndOriginations_label_en-US" xlink:label="lab_ms_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchasesAndOriginations" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases and Originations </link:label>
<link:label id="lab_ms_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchasesAndOriginations_documentation_en-US" xlink:label="lab_ms_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchasesAndOriginations" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases and Originations </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchasesAndOriginations" xlink:href="ms-20231231.xsd#ms_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchasesAndOriginations"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchasesAndOriginations" xlink:to="lab_ms_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchasesAndOriginations" xlink:type="arc" order="1"/>
<link:label id="lab_dei_EntityFilerCategory_645f8932-3b1c-470b-88da-c779180e865b_terseLabel_en-US" xlink:label="lab_dei_EntityFilerCategory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Entity Filer Category </link:label>
<link:label id="lab_dei_EntityFilerCategory_label_en-US" xlink:label="lab_dei_EntityFilerCategory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Entity Filer Category </link:label>
<link:loc xlink:type="locator" xlink:label="loc_dei_EntityFilerCategory" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityFilerCategory"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityFilerCategory" xlink:to="lab_dei_EntityFilerCategory" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_775670b0-bd1f-49b3-bd63-16e9985954dd_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Equity Method Investments </link:label>
<link:label id="lab_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_label_en-US" xlink:label="lab_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Equity Method Investments [Line Items] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfEquityMethodInvestmentsLineItems"/>
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<link:label id="lab_us-gaap_InvestmentRelatedLiabilities_5dd8cf88-d07e-4c86-ae17-5aefca47b140_totalLabel_en-US" xlink:label="lab_us-gaap_InvestmentRelatedLiabilities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Total </link:label>
<link:label id="lab_us-gaap_InvestmentRelatedLiabilities_label_en-US" xlink:label="lab_us-gaap_InvestmentRelatedLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Investment-related Liabilities </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_InvestmentRelatedLiabilities" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_InvestmentRelatedLiabilities"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InvestmentRelatedLiabilities" xlink:to="lab_us-gaap_InvestmentRelatedLiabilities" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_StatementTable_42486135-6f6c-4255-9cb2-49e1adef44a0_terseLabel_en-US" xlink:label="lab_us-gaap_StatementTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Statement [Table] </link:label>
<link:label id="lab_us-gaap_StatementTable_label_en-US" xlink:label="lab_us-gaap_StatementTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Statement [Table] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementTable" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_StatementTable"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementTable" xlink:to="lab_us-gaap_StatementTable" xlink:type="arc" order="1"/>
<link:label id="lab_ms_EmploymentStatusAxis_363d062f-4f33-4f7c-8dab-d2e8ea2275bf_terseLabel_en-US" xlink:label="lab_ms_EmploymentStatusAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Employment Status [Axis] </link:label>
<link:label id="lab_ms_EmploymentStatusAxis_label_en-US" xlink:label="lab_ms_EmploymentStatusAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Employment Status [Axis] </link:label>
<link:label id="lab_ms_EmploymentStatusAxis_documentation_en-US" xlink:label="lab_ms_EmploymentStatusAxis" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Employment Status [Axis] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_EmploymentStatusAxis" xlink:href="ms-20231231.xsd#ms_EmploymentStatusAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_EmploymentStatusAxis" xlink:to="lab_ms_EmploymentStatusAxis" xlink:type="arc" order="1"/>
<link:label id="lab_dei_CurrentFiscalYearEndDate_e3989303-4e41-4eb4-ab7c-abc651ab9a5d_terseLabel_en-US" xlink:label="lab_dei_CurrentFiscalYearEndDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Current Fiscal Year End Date </link:label>
<link:label id="lab_dei_CurrentFiscalYearEndDate_label_en-US" xlink:label="lab_dei_CurrentFiscalYearEndDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Current Fiscal Year End Date </link:label>
<link:loc xlink:type="locator" xlink:label="loc_dei_CurrentFiscalYearEndDate" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_CurrentFiscalYearEndDate"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_CurrentFiscalYearEndDate" xlink:to="lab_dei_CurrentFiscalYearEndDate" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_StockRepurchaseProgramAuthorizedAmount1_5fd262b3-d929-4978-82da-e3ff72ba18fc_terseLabel_en-US" xlink:label="lab_us-gaap_StockRepurchaseProgramAuthorizedAmount1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Authorized repurchase amount of outstanding common stock </link:label>
<link:label id="lab_us-gaap_StockRepurchaseProgramAuthorizedAmount1_label_en-US" xlink:label="lab_us-gaap_StockRepurchaseProgramAuthorizedAmount1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Stock Repurchase Program, Authorized Amount </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockRepurchaseProgramAuthorizedAmount1" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_StockRepurchaseProgramAuthorizedAmount1"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockRepurchaseProgramAuthorizedAmount1" xlink:to="lab_us-gaap_StockRepurchaseProgramAuthorizedAmount1" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_5ce94ed3-220a-4814-b394-342be64b3ace_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Reconciliation of the U.S. Federal Statutory Income Tax Rate to the Effective Income Tax Rate </link:label>
<link:label id="lab_us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock" xlink:to="lab_us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ScheduleOfEffectOfSignificantUnobservableInputsChangesInPlanAssetsTableTextBlock_703b64f6-507d-4ce6-bde2-5d875cb48c07_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfEffectOfSignificantUnobservableInputsChangesInPlanAssetsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Rollforward of Level 3 Plan Assets </link:label>
<link:label id="lab_us-gaap_ScheduleOfEffectOfSignificantUnobservableInputsChangesInPlanAssetsTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfEffectOfSignificantUnobservableInputsChangesInPlanAssetsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfEffectOfSignificantUnobservableInputsChangesInPlanAssetsTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfEffectOfSignificantUnobservableInputsChangesInPlanAssetsTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfEffectOfSignificantUnobservableInputsChangesInPlanAssetsTableTextBlock" xlink:to="lab_us-gaap_ScheduleOfEffectOfSignificantUnobservableInputsChangesInPlanAssetsTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_ms_ScheduleOfRepurchaseOfCommonStockTableTextBlock_cada7914-0a60-4c06-b3a5-190a5ad507ea_terseLabel_en-US" xlink:label="lab_ms_ScheduleOfRepurchaseOfCommonStockTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Share Repurchases </link:label>
<link:label id="lab_ms_ScheduleOfRepurchaseOfCommonStockTableTextBlock_label_en-US" xlink:label="lab_ms_ScheduleOfRepurchaseOfCommonStockTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Repurchase of Common Stock [Table Text Block] </link:label>
<link:label id="lab_ms_ScheduleOfRepurchaseOfCommonStockTableTextBlock_documentation_en-US" xlink:label="lab_ms_ScheduleOfRepurchaseOfCommonStockTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Tabular disclosure of repurchase of common stock. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_ScheduleOfRepurchaseOfCommonStockTableTextBlock" xlink:href="ms-20231231.xsd#ms_ScheduleOfRepurchaseOfCommonStockTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_ScheduleOfRepurchaseOfCommonStockTableTextBlock" xlink:to="lab_ms_ScheduleOfRepurchaseOfCommonStockTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FairValueByBalanceSheetGroupingTable_cb868dd2-1f92-4a4c-8d70-c9c8266dd3ab_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueByBalanceSheetGroupingTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value, by Balance Sheet Grouping [Table] </link:label>
<link:label id="lab_us-gaap_FairValueByBalanceSheetGroupingTable_label_en-US" xlink:label="lab_us-gaap_FairValueByBalanceSheetGroupingTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value, by Balance Sheet Grouping [Table] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueByBalanceSheetGroupingTable" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueByBalanceSheetGroupingTable"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueByBalanceSheetGroupingTable" xlink:to="lab_us-gaap_FairValueByBalanceSheetGroupingTable" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_PreferredStockSharesAuthorized_fd2dc5e5-28f1-459b-9853-4fa65c639e7e_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockSharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Preferred stock authorized (in shares) </link:label>
<link:label id="lab_us-gaap_PreferredStockSharesAuthorized_label_en-US" xlink:label="lab_us-gaap_PreferredStockSharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Preferred Stock, Shares Authorized </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_PreferredStockSharesAuthorized" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PreferredStockSharesAuthorized"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PreferredStockSharesAuthorized" xlink:to="lab_us-gaap_PreferredStockSharesAuthorized" xlink:type="arc" order="1"/>
<link:label id="lab_ms_OffsettingAssetsAndLiabilitiesTableTextBlock_3c681ee4-c7df-4e09-a14e-ceb68f8d0b43_terseLabel_en-US" xlink:label="lab_ms_OffsettingAssetsAndLiabilitiesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Offsetting of Certain Collateralized Transactions </link:label>
<link:label id="lab_ms_OffsettingAssetsAndLiabilitiesTableTextBlock_label_en-US" xlink:label="lab_ms_OffsettingAssetsAndLiabilitiesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Offsetting Assets and Liabilities [Table Text Block] </link:label>
<link:label id="lab_ms_OffsettingAssetsAndLiabilitiesTableTextBlock_documentation_en-US" xlink:label="lab_ms_OffsettingAssetsAndLiabilitiesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Tabular disclosure of derivative and other financial assets and liabilities that are subject to offsetting, including master netting arrangements. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_OffsettingAssetsAndLiabilitiesTableTextBlock" xlink:href="ms-20231231.xsd#ms_OffsettingAssetsAndLiabilitiesTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_OffsettingAssetsAndLiabilitiesTableTextBlock" xlink:to="lab_ms_OffsettingAssetsAndLiabilitiesTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FinancingReceivablesTextBlock_357c312c-ede9-4751-acc4-ece512a423c1_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivablesTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Loans, Lending Commitments and Related Allowance for Credit Losses </link:label>
<link:label id="lab_us-gaap_FinancingReceivablesTextBlock_label_en-US" xlink:label="lab_us-gaap_FinancingReceivablesTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financing Receivables [Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivablesTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FinancingReceivablesTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivablesTextBlock" xlink:to="lab_us-gaap_FinancingReceivablesTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsFiveFiscalYearsThereafter_66928ebc-a157-41d5-b1c5-e7738340e653_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsFiveFiscalYearsThereafter" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> 2029-2033 </link:label>
<link:label id="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsFiveFiscalYearsThereafter_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsFiveFiscalYearsThereafter" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Defined Benefit Plan, Expected Future Benefit Payment, after Year Five for Next Five Years </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsFiveFiscalYearsThereafter" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsFiveFiscalYearsThereafter"/>
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<link:label id="lab_us-gaap_ScheduleOfGoodwillTextBlock_c06214d6-4562-4f1b-ad0e-a3dce23644bd_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfGoodwillTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Goodwill Rollforward </link:label>
<link:label id="lab_us-gaap_ScheduleOfGoodwillTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfGoodwillTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Goodwill [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfGoodwillTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfGoodwillTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfGoodwillTextBlock" xlink:to="lab_us-gaap_ScheduleOfGoodwillTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_PreferredStockSharesOutstanding_4a79c174-0bb8-47d1-bb58-baa4e2f7e233_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Preferred stock shares outstanding (in shares) </link:label>
<link:label id="lab_us-gaap_PreferredStockSharesOutstanding_label_en-US" xlink:label="lab_us-gaap_PreferredStockSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Preferred Stock, Shares Outstanding </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_PreferredStockSharesOutstanding" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PreferredStockSharesOutstanding"/>
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<link:label id="lab_us-gaap_IncomeLossFromSubsidiariesNetOfTax_0a1b21f3-8bcd-4e9f-ba8e-20dd95c3d8ce_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeLossFromSubsidiariesNetOfTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Undistributed (loss) gain of subsidiaries </link:label>
<link:label id="lab_us-gaap_IncomeLossFromSubsidiariesNetOfTax_label_en-US" xlink:label="lab_us-gaap_IncomeLossFromSubsidiariesNetOfTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Income (Loss) from Subsidiaries, Net of Tax </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeLossFromSubsidiariesNetOfTax" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_IncomeLossFromSubsidiariesNetOfTax"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeLossFromSubsidiariesNetOfTax" xlink:to="lab_us-gaap_IncomeLossFromSubsidiariesNetOfTax" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_GoodwillTranslationAndPurchaseAccountingAdjustments_6bbb29f4-b683-48c8-8de5-2447dad0d906_verboseLabel_en-US" xlink:label="lab_us-gaap_GoodwillTranslationAndPurchaseAccountingAdjustments" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Foreign currency </link:label>
<link:label id="lab_us-gaap_GoodwillTranslationAndPurchaseAccountingAdjustments_label_en-US" xlink:label="lab_us-gaap_GoodwillTranslationAndPurchaseAccountingAdjustments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Goodwill, Translation and Purchase Accounting Adjustments </link:label>
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<link:label id="lab_us-gaap_FinancingReceivableAllowanceForCreditLossesLineItems_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableAllowanceForCreditLossesLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financing Receivable, Allowance for Credit Loss [Line Items] </link:label>
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<link:label id="lab_ms_OtherVariableInterestsMember_1bc73fd0-b09e-44e2-819b-7cba2e9b1292_terseLabel_en-US" xlink:label="lab_ms_OtherVariableInterestsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other </link:label>
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<link:label id="lab_ms_BankingRegulationCountercyclicalCapitalBufferAbstract_4c504ae4-740b-4905-a6df-479e6626754f_terseLabel_en-US" xlink:label="lab_ms_BankingRegulationCountercyclicalCapitalBufferAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> CCyB </link:label>
<link:label id="lab_ms_BankingRegulationCountercyclicalCapitalBufferAbstract_label_en-US" xlink:label="lab_ms_BankingRegulationCountercyclicalCapitalBufferAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Banking Regulation, Countercyclical Capital Buffer [Abstract] </link:label>
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<link:label id="lab_us-gaap_TierOneRiskBasedCapitalRequiredForCapitalAdequacyToRiskWeightedAssets_49f66526-3a46-4bc5-a354-1a09e1dd13b3_verboseLabel_en-US" xlink:label="lab_us-gaap_TierOneRiskBasedCapitalRequiredForCapitalAdequacyToRiskWeightedAssets" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Standardized (as a percent) </link:label>
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<link:label id="lab_us-gaap_MaturitiesOfTimeDepositsAbstract_982d501b-48a8-4e60-ac88-7a6d2a5d79a2_terseLabel_en-US" xlink:label="lab_us-gaap_MaturitiesOfTimeDepositsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Time Deposit Maturities </link:label>
<link:label id="lab_us-gaap_MaturitiesOfTimeDepositsAbstract_label_en-US" xlink:label="lab_us-gaap_MaturitiesOfTimeDepositsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Maturities of Time Deposits [Abstract] </link:label>
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<link:label id="lab_us-gaap_StatementOfFinancialPositionAbstract_label_en-US" xlink:label="lab_us-gaap_StatementOfFinancialPositionAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Statement of Financial Position [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementOfFinancialPositionAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_StatementOfFinancialPositionAbstract"/>
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<link:label id="lab_ms_HeldToMaturitySecuritiesDebtMaturitiesYearTwoThroughFiveAnnualizedAverageYield_b250c08c-4aa3-4201-8ea6-52369cfe16c3_terseLabel_en-US" xlink:label="lab_ms_HeldToMaturitySecuritiesDebtMaturitiesYearTwoThroughFiveAnnualizedAverageYield" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> HTM securities: Annualized average yield, after 1 years through 5 years (as a percent) </link:label>
<link:label id="lab_ms_HeldToMaturitySecuritiesDebtMaturitiesYearTwoThroughFiveAnnualizedAverageYield_label_en-US" xlink:label="lab_ms_HeldToMaturitySecuritiesDebtMaturitiesYearTwoThroughFiveAnnualizedAverageYield" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Held-to-maturity Securities Debt Maturities Year Two Through Five Annualized Average Yield </link:label>
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<link:label id="lab_us-gaap_UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate_015eabef-42b9-42d0-a848-a4e88ca2b018_terseLabel_en-US" xlink:label="lab_us-gaap_UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Net unrecognized tax benefits </link:label>
<link:label id="lab_us-gaap_UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate_label_en-US" xlink:label="lab_us-gaap_UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Unrecognized Tax Benefits that Would Impact Effective Tax Rate </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate"/>
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<link:label id="lab_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesWithinOneYearFairValue_label_en-US" xlink:label="lab_us-gaap_HeldToMaturitySecuritiesDebtMaturitiesWithinOneYearFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, Year One </link:label>
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<link:label id="lab_ms_BondVolatilityMeasurementInputMember_62fd7a21-711c-4e7d-90f6-cf1aefb1a7ef_terseLabel_en-US" xlink:label="lab_ms_BondVolatilityMeasurementInputMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Bond volatility </link:label>
<link:label id="lab_ms_BondVolatilityMeasurementInputMember_label_en-US" xlink:label="lab_ms_BondVolatilityMeasurementInputMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Bond Volatility Measurement Input [Member] </link:label>
<link:label id="lab_ms_BondVolatilityMeasurementInputMember_documentation_en-US" xlink:label="lab_ms_BondVolatilityMeasurementInputMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Bond Volatility Measurement Input </link:label>
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<link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_920d412b-778b-4af0-a735-ceffcccf71f8_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Finite-Lived Intangible Assets, Major Class Name [Domain] </link:label>
<link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Finite-Lived Intangible Assets, Major Class Name [Domain] </link:label>
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<link:label id="lab_us-gaap_FloorBrokerageExchangeAndClearanceFees_61ac85f9-0d54-43a2-9ab9-c1bbf504cc63_terseLabel_en-US" xlink:label="lab_us-gaap_FloorBrokerageExchangeAndClearanceFees" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Brokerage, clearing and exchange fees </link:label>
<link:label id="lab_us-gaap_FloorBrokerageExchangeAndClearanceFees_label_en-US" xlink:label="lab_us-gaap_FloorBrokerageExchangeAndClearanceFees" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Floor Brokerage, Exchange and Clearance Fees </link:label>
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<link:label id="lab_us-gaap_ConcentrationRiskByTypeAxis_5968e7cc-c4b6-4186-8a74-7c31bcf5c8ad_terseLabel_en-US" xlink:label="lab_us-gaap_ConcentrationRiskByTypeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Concentration Risk Type [Axis] </link:label>
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<link:label id="lab_us-gaap_ProceedsFromPaymentsForSecuritiesPurchasedUnderAgreementsToResell_1fe0ecf4-457e-4bea-824c-39e4affb280d_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromPaymentsForSecuritiesPurchasedUnderAgreementsToResell" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Securities purchased under agreements to resell with affiliates </link:label>
<link:label id="lab_us-gaap_ProceedsFromPaymentsForSecuritiesPurchasedUnderAgreementsToResell_label_en-US" xlink:label="lab_us-gaap_ProceedsFromPaymentsForSecuritiesPurchasedUnderAgreementsToResell" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Proceeds from (Payments for) Securities Purchased under Agreements to Resell </link:label>
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<link:label id="lab_us-gaap_LongTermDebtByMaturityAbstract_84b41f67-0c4f-4b78-9d30-5e1fea59e9be_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtByMaturityAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Original maturities greater than one year: </link:label>
<link:label id="lab_us-gaap_LongTermDebtByMaturityAbstract_label_en-US" xlink:label="lab_us-gaap_LongTermDebtByMaturityAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Long-Term Debt, Fiscal Year Maturity [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtByMaturityAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LongTermDebtByMaturityAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtByMaturityAbstract" xlink:to="lab_us-gaap_LongTermDebtByMaturityAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_ms_CaseNumber153637AndCaseNumber154353Member_e44ea567-1dca-4a4e-b8fa-09e6370c28fd_terseLabel_en-US" xlink:label="lab_ms_CaseNumber153637AndCaseNumber154353Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Case Number 15/3637 and Case Number 15/4353 </link:label>
<link:label id="lab_ms_CaseNumber153637AndCaseNumber154353Member_label_en-US" xlink:label="lab_ms_CaseNumber153637AndCaseNumber154353Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Case Number 153637 and Case Number 154353 [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_CaseNumber153637AndCaseNumber154353Member" xlink:href="ms-20231231.xsd#ms_CaseNumber153637AndCaseNumber154353Member"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_CaseNumber153637AndCaseNumber154353Member" xlink:to="lab_ms_CaseNumber153637AndCaseNumber154353Member" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_EffectOfNetInvestmentHedgeOnResultsOfOperationsAbstract_837bc065-3950-48ac-a851-85d7e3676df6_terseLabel_en-US" xlink:label="lab_us-gaap_EffectOfNetInvestmentHedgeOnResultsOfOperationsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Net Investment Hedges </link:label>
<link:label id="lab_us-gaap_EffectOfNetInvestmentHedgeOnResultsOfOperationsAbstract_label_en-US" xlink:label="lab_us-gaap_EffectOfNetInvestmentHedgeOnResultsOfOperationsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Effect of Net Investment Hedge on Results of Operations [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_EffectOfNetInvestmentHedgeOnResultsOfOperationsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_EffectOfNetInvestmentHedgeOnResultsOfOperationsAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EffectOfNetInvestmentHedgeOnResultsOfOperationsAbstract" xlink:to="lab_us-gaap_EffectOfNetInvestmentHedgeOnResultsOfOperationsAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FairValueInputsLevel2Member_1ed99fa5-ee07-4084-82cb-84b484954ef8_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueInputsLevel2Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Level 2 </link:label>
<link:label id="lab_us-gaap_FairValueInputsLevel2Member_label_en-US" xlink:label="lab_us-gaap_FairValueInputsLevel2Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value, Inputs, Level 2 [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueInputsLevel2Member" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueInputsLevel2Member"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueInputsLevel2Member" xlink:to="lab_us-gaap_FairValueInputsLevel2Member" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_NetInvestmentHedgingMember_a6119007-52ac-4a1f-b723-b4bfaae233ea_terseLabel_en-US" xlink:label="lab_us-gaap_NetInvestmentHedgingMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Net Investment Hedges </link:label>
<link:label id="lab_us-gaap_NetInvestmentHedgingMember_label_en-US" xlink:label="lab_us-gaap_NetInvestmentHedgingMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Net Investment Hedging [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetInvestmentHedgingMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_NetInvestmentHedgingMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetInvestmentHedgingMember" xlink:to="lab_us-gaap_NetInvestmentHedgingMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerShareTable_42308890-0d63-49bc-8781-16c260c260b4_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerShareTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Table] </link:label>
<link:label id="lab_us-gaap_FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerShareTable_label_en-US" xlink:label="lab_us-gaap_FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerShareTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Table] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerShareTable" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerShareTable"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerShareTable" xlink:to="lab_us-gaap_FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerShareTable" xlink:type="arc" order="1"/>
<link:label id="lab_ms_NetCapitalExcessShortageUnderSecuritiesAndExchangeCommissionRegulationAndCommodityExchangeAct_d76f57f2-2816-4ded-a292-a31d89f9a214_terseLabel_en-US" xlink:label="lab_ms_NetCapitalExcessShortageUnderSecuritiesAndExchangeCommissionRegulationAndCommodityExchangeAct" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Excess net capital </link:label>
<link:label id="lab_ms_NetCapitalExcessShortageUnderSecuritiesAndExchangeCommissionRegulationAndCommodityExchangeAct_label_en-US" xlink:label="lab_ms_NetCapitalExcessShortageUnderSecuritiesAndExchangeCommissionRegulationAndCommodityExchangeAct" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Net Capital Excess (Shortage) under Securities and Exchange Commission Regulation and Commodity Exchange Act </link:label>
<link:label id="lab_ms_NetCapitalExcessShortageUnderSecuritiesAndExchangeCommissionRegulationAndCommodityExchangeAct_documentation_en-US" xlink:label="lab_ms_NetCapitalExcessShortageUnderSecuritiesAndExchangeCommissionRegulationAndCommodityExchangeAct" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> The amount by which actual net capital exceeds (does not exceed) the greater required net capital under Securities and Exchange Commission and CFTC regulations. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_NetCapitalExcessShortageUnderSecuritiesAndExchangeCommissionRegulationAndCommodityExchangeAct" xlink:href="ms-20231231.xsd#ms_NetCapitalExcessShortageUnderSecuritiesAndExchangeCommissionRegulationAndCommodityExchangeAct"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_NetCapitalExcessShortageUnderSecuritiesAndExchangeCommissionRegulationAndCommodityExchangeAct" xlink:to="lab_ms_NetCapitalExcessShortageUnderSecuritiesAndExchangeCommissionRegulationAndCommodityExchangeAct" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoffAfterRecovery_c0c3571b-de79-4436-a970-e30ad480fd92_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoffAfterRecovery" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Net (charge-offs) recoveries </link:label>
<link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoffAfterRecovery_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoffAfterRecovery" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff (Recovery) </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoffAfterRecovery" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoffAfterRecovery"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoffAfterRecovery" xlink:to="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoffAfterRecovery" xlink:type="arc" order="1"/>
<link:label id="lab_ms_DebtAmountCallableOrExtendibleAtOptionOfHolders_0c56ecbc-fff1-4d81-bc37-d25df7d27b38_terseLabel_en-US" xlink:label="lab_ms_DebtAmountCallableOrExtendibleAtOptionOfHolders" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Liquidity obligations </link:label>
<link:label id="lab_ms_DebtAmountCallableOrExtendibleAtOptionOfHolders_label_en-US" xlink:label="lab_ms_DebtAmountCallableOrExtendibleAtOptionOfHolders" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt Amount Callable or Extendible at Option of Holders </link:label>
<link:label id="lab_ms_DebtAmountCallableOrExtendibleAtOptionOfHolders_documentation_en-US" xlink:label="lab_ms_DebtAmountCallableOrExtendibleAtOptionOfHolders" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt, amount that is callable or extendible at the option of holders. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_DebtAmountCallableOrExtendibleAtOptionOfHolders" xlink:href="ms-20231231.xsd#ms_DebtAmountCallableOrExtendibleAtOptionOfHolders"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_DebtAmountCallableOrExtendibleAtOptionOfHolders" xlink:to="lab_ms_DebtAmountCallableOrExtendibleAtOptionOfHolders" xlink:type="arc" order="1"/>
<link:label id="lab_ms_CaseNumberB80318PreviouslyBS9969982017Member_72f50138-b3e6-4662-8093-c2dd324ae5aa_terseLabel_en-US" xlink:label="lab_ms_CaseNumberB80318PreviouslyBS9969982017Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Case number B-803-18 (previously BS 99-6998/2017 </link:label>
<link:label id="lab_ms_CaseNumberB80318PreviouslyBS9969982017Member_label_en-US" xlink:label="lab_ms_CaseNumberB80318PreviouslyBS9969982017Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Case number B-803-18 (previously BS 99-6998/2017 [Member] </link:label>
<link:label id="lab_ms_CaseNumberB80318PreviouslyBS9969982017Member_documentation_en-US" xlink:label="lab_ms_CaseNumberB80318PreviouslyBS9969982017Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Case number B-803-18 (previously BS 99-6998/2017 </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_CaseNumberB80318PreviouslyBS9969982017Member" xlink:href="ms-20231231.xsd#ms_CaseNumberB80318PreviouslyBS9969982017Member"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_CaseNumberB80318PreviouslyBS9969982017Member" xlink:to="lab_ms_CaseNumberB80318PreviouslyBS9969982017Member" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_SecuritiesLoanedCollateralRightToReclaimCash_48f84238-8656-4b1b-b77c-3594730ae700_negatedLabel_en-US" xlink:label="lab_us-gaap_SecuritiesLoanedCollateralRightToReclaimCash" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Amounts Not Offset </link:label>
<link:label id="lab_us-gaap_SecuritiesLoanedCollateralRightToReclaimCash_label_en-US" xlink:label="lab_us-gaap_SecuritiesLoanedCollateralRightToReclaimCash" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Security Loaned, Subject to Master Netting Arrangement, Collateral, Right to Reclaim Cash Not Offset </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_SecuritiesLoanedCollateralRightToReclaimCash" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SecuritiesLoanedCollateralRightToReclaimCash"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SecuritiesLoanedCollateralRightToReclaimCash" xlink:to="lab_us-gaap_SecuritiesLoanedCollateralRightToReclaimCash" xlink:type="arc" order="1"/>
<link:label id="lab_ms_DeferredCompensationArrangementwithIndividualReturnonReferencedInvestmentsCarriedInterest_9265cfaa-540c-4786-97b5-aef2362eb38b_terseLabel_en-US" xlink:label="lab_ms_DeferredCompensationArrangementwithIndividualReturnonReferencedInvestmentsCarriedInterest" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Expense </link:label>
<link:label id="lab_ms_DeferredCompensationArrangementwithIndividualReturnonReferencedInvestmentsCarriedInterest_label_en-US" xlink:label="lab_ms_DeferredCompensationArrangementwithIndividualReturnonReferencedInvestmentsCarriedInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Deferred Compensation Arrangement with Individual, Return on Referenced Investments, Carried Interest </link:label>
<link:label id="lab_ms_DeferredCompensationArrangementwithIndividualReturnonReferencedInvestmentsCarriedInterest_documentation_en-US" xlink:label="lab_ms_DeferredCompensationArrangementwithIndividualReturnonReferencedInvestmentsCarriedInterest" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Deferred Compensation Arrangement with Individual, Return on Referenced Investments, Carried Interest </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_DeferredCompensationArrangementwithIndividualReturnonReferencedInvestmentsCarriedInterest" xlink:href="ms-20231231.xsd#ms_DeferredCompensationArrangementwithIndividualReturnonReferencedInvestmentsCarriedInterest"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_DeferredCompensationArrangementwithIndividualReturnonReferencedInvestmentsCarriedInterest" xlink:to="lab_ms_DeferredCompensationArrangementwithIndividualReturnonReferencedInvestmentsCarriedInterest" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_SecuritiesPurchasedUnderAgreementsToResellLiability_6642e370-c418-4aa8-b8d6-52451e7d8fb2_negatedLabel_en-US" xlink:label="lab_us-gaap_SecuritiesPurchasedUnderAgreementsToResellLiability" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Amounts Offset </link:label>
<link:label id="lab_us-gaap_SecuritiesPurchasedUnderAgreementsToResellLiability_label_en-US" xlink:label="lab_us-gaap_SecuritiesPurchasedUnderAgreementsToResellLiability" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Security Purchased under Agreement to Resell, Subject to Master Netting Arrangement, Liability Offset </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_SecuritiesPurchasedUnderAgreementsToResellLiability" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SecuritiesPurchasedUnderAgreementsToResellLiability"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SecuritiesPurchasedUnderAgreementsToResellLiability" xlink:to="lab_us-gaap_SecuritiesPurchasedUnderAgreementsToResellLiability" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted_6684a347-1550-467c-b626-10d1b8177ef5_verboseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Awarded (in shares) </link:label>
<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Granted </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFour_cf3dec8a-6cd3-4602-b9ef-80b9258133c0_terseLabel_en-US" xlink:label="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFour" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Year Four </link:label>
<link:label id="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFour_label_en-US" xlink:label="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFour" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Lessee, Operating Lease, Liability, to be Paid, Year Four </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFour" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFour"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFour" xlink:to="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFour" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_CustomerSecuritiesForWhichEntityHasRightToSellOrRepledgeFairValueOfSecuritiesSoldOrRepledged_030a3ecf-35b0-411b-8f30-7417d10b0474_terseLabel_en-US" xlink:label="lab_us-gaap_CustomerSecuritiesForWhichEntityHasRightToSellOrRepledgeFairValueOfSecuritiesSoldOrRepledged" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Collateral that was sold or repledged </link:label>
<link:label id="lab_us-gaap_CustomerSecuritiesForWhichEntityHasRightToSellOrRepledgeFairValueOfSecuritiesSoldOrRepledged_label_en-US" xlink:label="lab_us-gaap_CustomerSecuritiesForWhichEntityHasRightToSellOrRepledgeFairValueOfSecuritiesSoldOrRepledged" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Customer Securities for which Entity has Right to Sell or Repledge, Fair Value of Securities Sold or Repledged </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CustomerSecuritiesForWhichEntityHasRightToSellOrRepledgeFairValueOfSecuritiesSoldOrRepledged" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CustomerSecuritiesForWhichEntityHasRightToSellOrRepledgeFairValueOfSecuritiesSoldOrRepledged"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CustomerSecuritiesForWhichEntityHasRightToSellOrRepledgeFairValueOfSecuritiesSoldOrRepledged" xlink:to="lab_us-gaap_CustomerSecuritiesForWhichEntityHasRightToSellOrRepledgeFairValueOfSecuritiesSoldOrRepledged" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ShareBasedCompensation_8963c63e-d973-4644-a89e-bb697105d499_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Stock-based compensation expense </link:label>
<link:label id="lab_us-gaap_ShareBasedCompensation_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Share-Based Payment Arrangement, Noncash Expense </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensation" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ShareBasedCompensation"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensation" xlink:to="lab_us-gaap_ShareBasedCompensation" xlink:type="arc" order="1"/>
<link:label id="lab_srt_WeightedAverageMember_46ca39a7-c16e-4571-a426-986df08bea3c_terseLabel_en-US" xlink:label="lab_srt_WeightedAverageMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Weighted Average </link:label>
<link:label id="lab_srt_WeightedAverageMember_label_en-US" xlink:label="lab_srt_WeightedAverageMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Weighted Average [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_srt_WeightedAverageMember" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_WeightedAverageMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_WeightedAverageMember" xlink:to="lab_srt_WeightedAverageMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_WithholdingTaxCreditSetOff_419f528a-be50-4c9e-931e-85eab400e457_terseLabel_en-US" xlink:label="lab_ms_WithholdingTaxCreditSetOff" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Withholding tax credit set-off </link:label>
<link:label id="lab_ms_WithholdingTaxCreditSetOff_label_en-US" xlink:label="lab_ms_WithholdingTaxCreditSetOff" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Withholding Tax Credit Set-Off </link:label>
<link:label id="lab_ms_WithholdingTaxCreditSetOff_documentation_en-US" xlink:label="lab_ms_WithholdingTaxCreditSetOff" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Withholding Tax Credit Set-Off </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_WithholdingTaxCreditSetOff" xlink:href="ms-20231231.xsd#ms_WithholdingTaxCreditSetOff"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_WithholdingTaxCreditSetOff" xlink:to="lab_ms_WithholdingTaxCreditSetOff" xlink:type="arc" order="1"/>
<link:label id="lab_ms_IncreaseDecreaseInSecuritiesPurchasedUnderAgreementsToResell_7c40d6cd-fd96-4c5f-902d-eb90e792dd63_negatedLabel_en-US" xlink:label="lab_ms_IncreaseDecreaseInSecuritiesPurchasedUnderAgreementsToResell" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Securities purchased under agreements to resell </link:label>
<link:label id="lab_ms_IncreaseDecreaseInSecuritiesPurchasedUnderAgreementsToResell_label_en-US" xlink:label="lab_ms_IncreaseDecreaseInSecuritiesPurchasedUnderAgreementsToResell" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Increase (Decrease) in Securities Purchased under Agreements to Resell </link:label>
<link:label id="lab_ms_IncreaseDecreaseInSecuritiesPurchasedUnderAgreementsToResell_documentation_en-US" xlink:label="lab_ms_IncreaseDecreaseInSecuritiesPurchasedUnderAgreementsToResell" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> The net change in the beginning and end of period for investments purchased under the agreement to resell such investment balances. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_IncreaseDecreaseInSecuritiesPurchasedUnderAgreementsToResell" xlink:href="ms-20231231.xsd#ms_IncreaseDecreaseInSecuritiesPurchasedUnderAgreementsToResell"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_IncreaseDecreaseInSecuritiesPurchasedUnderAgreementsToResell" xlink:to="lab_ms_IncreaseDecreaseInSecuritiesPurchasedUnderAgreementsToResell" xlink:type="arc" order="1"/>
<link:label id="lab_dei_CityAreaCode_c87b2c39-16c0-4670-a9b8-d608f6835a19_terseLabel_en-US" xlink:label="lab_dei_CityAreaCode" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> City Area Code </link:label>
<link:label id="lab_dei_CityAreaCode_label_en-US" xlink:label="lab_dei_CityAreaCode" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> City Area Code </link:label>
<link:loc xlink:type="locator" xlink:label="loc_dei_CityAreaCode" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_CityAreaCode"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_CityAreaCode" xlink:to="lab_dei_CityAreaCode" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FinancingReceivablesPeriodPastDueDomain_8e8960c2-db04-4649-a94d-64522d8ebf1d_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivablesPeriodPastDueDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financial Asset, Period Past Due [Domain] </link:label>
<link:label id="lab_us-gaap_FinancingReceivablesPeriodPastDueDomain_label_en-US" xlink:label="lab_us-gaap_FinancingReceivablesPeriodPastDueDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financial Asset, Aging [Domain] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivablesPeriodPastDueDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FinancingReceivablesPeriodPastDueDomain"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivablesPeriodPastDueDomain" xlink:to="lab_us-gaap_FinancingReceivablesPeriodPastDueDomain" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_EquityMethodInvestmentOwnershipPercentage_cd7a6311-8179-4eb3-aa4d-95e8e9d444bd_terseLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentOwnershipPercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Voting/ economic interest (as a percent) </link:label>
<link:label id="lab_us-gaap_EquityMethodInvestmentOwnershipPercentage_label_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentOwnershipPercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Equity Method Investment, Ownership Percentage </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_EquityMethodInvestmentOwnershipPercentage" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_EquityMethodInvestmentOwnershipPercentage"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityMethodInvestmentOwnershipPercentage" xlink:to="lab_us-gaap_EquityMethodInvestmentOwnershipPercentage" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_OtherNoninterestExpense_2f6b533a-6f18-469e-a2a7-bb448d5b3888_terseLabel_en-US" xlink:label="lab_us-gaap_OtherNoninterestExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other </link:label>
<link:label id="lab_us-gaap_OtherNoninterestExpense_label_en-US" xlink:label="lab_us-gaap_OtherNoninterestExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other Noninterest Expense </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherNoninterestExpense" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OtherNoninterestExpense"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherNoninterestExpense" xlink:to="lab_us-gaap_OtherNoninterestExpense" xlink:type="arc" order="1"/>
<link:label id="lab_dei_DocumentFiscalYearFocus_b83ac7e9-b3bf-42b9-b493-bba87a65db16_terseLabel_en-US" xlink:label="lab_dei_DocumentFiscalYearFocus" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Document Fiscal Year Focus </link:label>
<link:label id="lab_dei_DocumentFiscalYearFocus_label_en-US" xlink:label="lab_dei_DocumentFiscalYearFocus" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Document Fiscal Year Focus </link:label>
<link:loc xlink:type="locator" xlink:label="loc_dei_DocumentFiscalYearFocus" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentFiscalYearFocus"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentFiscalYearFocus" xlink:to="lab_dei_DocumentFiscalYearFocus" xlink:type="arc" order="1"/>
<link:label id="lab_ms_VariableInterestEntityByInterestAxis_7613c318-7363-4149-8f53-0c1231b47a4e_terseLabel_en-US" xlink:label="lab_ms_VariableInterestEntityByInterestAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Variable Interest Entity, by Interest [Axis] </link:label>
<link:label id="lab_ms_VariableInterestEntityByInterestAxis_label_en-US" xlink:label="lab_ms_VariableInterestEntityByInterestAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Variable Interest Entity, by Interest [Axis] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_VariableInterestEntityByInterestAxis" xlink:href="ms-20231231.xsd#ms_VariableInterestEntityByInterestAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_VariableInterestEntityByInterestAxis" xlink:to="lab_ms_VariableInterestEntityByInterestAxis" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_GainLossOnFairValueHedgesRecognizedInEarnings_75d1f979-4c96-45a5-93ae-bd2471dda565_terseLabel_en-US" xlink:label="lab_us-gaap_GainLossOnFairValueHedgesRecognizedInEarnings" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Gains (losses) recognized in Interest Income / Expense </link:label>
<link:label id="lab_us-gaap_GainLossOnFairValueHedgesRecognizedInEarnings_label_en-US" xlink:label="lab_us-gaap_GainLossOnFairValueHedgesRecognizedInEarnings" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Gain (Loss) on Fair Value Hedges Recognized in Earnings </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_GainLossOnFairValueHedgesRecognizedInEarnings" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_GainLossOnFairValueHedgesRecognizedInEarnings"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GainLossOnFairValueHedgesRecognizedInEarnings" xlink:to="lab_us-gaap_GainLossOnFairValueHedgesRecognizedInEarnings" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_Deposits_a7e4d5f2-c6f6-40b4-9908-ab73888949c0_terseLabel_en-US" xlink:label="lab_us-gaap_Deposits" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Deposits (includes $6,472 and $4,796 at fair value) </link:label>
<link:label id="lab_us-gaap_Deposits_6f54b02b-dfc4-4ef9-b42e-561a1dc15d1b_verboseLabel_en-US" xlink:label="lab_us-gaap_Deposits" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Deposits </link:label>
<link:label id="lab_us-gaap_Deposits_77eec775-86d0-4f62-a5dd-29cb98cdd8f0_totalLabel_en-US" xlink:label="lab_us-gaap_Deposits" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Total deposits </link:label>
<link:label id="lab_us-gaap_Deposits_label_en-US" xlink:label="lab_us-gaap_Deposits" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Deposits </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_Deposits" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_Deposits"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Deposits" xlink:to="lab_us-gaap_Deposits" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_CompensationRelatedCostsPolicyTextBlock_4b85d3ef-1422-4b97-96ca-9ef5b7cd67b0_terseLabel_en-US" xlink:label="lab_us-gaap_CompensationRelatedCostsPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Deferred Compensation </link:label>
<link:label id="lab_us-gaap_CompensationRelatedCostsPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_CompensationRelatedCostsPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Compensation Related Costs, Policy [Policy Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CompensationRelatedCostsPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CompensationRelatedCostsPolicyTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CompensationRelatedCostsPolicyTextBlock" xlink:to="lab_us-gaap_CompensationRelatedCostsPolicyTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_LiabilityMember_03114a0e-fa42-4d2a-a613-98890c4b072e_terseLabel_en-US" xlink:label="lab_us-gaap_LiabilityMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Liabilities </link:label>
<link:label id="lab_us-gaap_LiabilityMember_label_en-US" xlink:label="lab_us-gaap_LiabilityMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Liability [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LiabilityMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LiabilityMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LiabilityMember" xlink:to="lab_us-gaap_LiabilityMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_LongtermLineofCreditAllowanceforCreditLoss_d59f9fc9-68a8-430e-9280-104152738835_terseLabel_en-US" xlink:label="lab_ms_LongtermLineofCreditAllowanceforCreditLoss" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Allowance for credit loss </link:label>
<link:label id="lab_ms_LongtermLineofCreditAllowanceforCreditLoss_label_en-US" xlink:label="lab_ms_LongtermLineofCreditAllowanceforCreditLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Long-term Line of Credit, Allowance for Credit Loss </link:label>
<link:label id="lab_ms_LongtermLineofCreditAllowanceforCreditLoss_documentation_en-US" xlink:label="lab_ms_LongtermLineofCreditAllowanceforCreditLoss" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Long-term Line of Credit, Allowance for Credit Loss </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_LongtermLineofCreditAllowanceforCreditLoss" xlink:href="ms-20231231.xsd#ms_LongtermLineofCreditAllowanceforCreditLoss"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_LongtermLineofCreditAllowanceforCreditLoss" xlink:to="lab_ms_LongtermLineofCreditAllowanceforCreditLoss" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_TierOneLeverageCapital_f8adb6cc-2f6c-4159-8250-a146661e2230_terseLabel_en-US" xlink:label="lab_us-gaap_TierOneLeverageCapital" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Tier 1 leverage </link:label>
<link:label id="lab_us-gaap_TierOneLeverageCapital_label_en-US" xlink:label="lab_us-gaap_TierOneLeverageCapital" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Banking Regulation, Tier 1 Leverage Capital, Actual </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_TierOneLeverageCapital" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_TierOneLeverageCapital"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TierOneLeverageCapital" xlink:to="lab_us-gaap_TierOneLeverageCapital" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_LoanToValueDomain_e51ba803-d305-4fd1-9581-0139fe5f4598_terseLabel_en-US" xlink:label="lab_us-gaap_LoanToValueDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt-to-Value [Domain] </link:label>
<link:label id="lab_us-gaap_LoanToValueDomain_label_en-US" xlink:label="lab_us-gaap_LoanToValueDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt-to-Value [Domain] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LoanToValueDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LoanToValueDomain"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LoanToValueDomain" xlink:to="lab_us-gaap_LoanToValueDomain" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_UnderlyingAssetClassAxis_badfe7a3-fed4-4213-bd06-c572109da58c_terseLabel_en-US" xlink:label="lab_us-gaap_UnderlyingAssetClassAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Underlying Asset Class [Axis] </link:label>
<link:label id="lab_us-gaap_UnderlyingAssetClassAxis_label_en-US" xlink:label="lab_us-gaap_UnderlyingAssetClassAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Underlying Asset Class [Axis] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_UnderlyingAssetClassAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_UnderlyingAssetClassAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_UnderlyingAssetClassAxis" xlink:to="lab_us-gaap_UnderlyingAssetClassAxis" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ProfitLoss_da0a2714-167d-4e9c-8917-d69336a625ea_totalLabel_en-US" xlink:label="lab_us-gaap_ProfitLoss" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Net income </link:label>
<link:label id="lab_us-gaap_ProfitLoss_ee29cbd5-6a5f-4e2f-a2a6-34a32e8e01fd_terseLabel_en-US" xlink:label="lab_us-gaap_ProfitLoss" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Net income </link:label>
<link:label id="lab_us-gaap_ProfitLoss_label_en-US" xlink:label="lab_us-gaap_ProfitLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Net Income (Loss), Including Portion Attributable to Noncontrolling Interest </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProfitLoss" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ProfitLoss"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProfitLoss" xlink:to="lab_us-gaap_ProfitLoss" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FinancingReceivableModifiedWeightedAverageTermIncreaseFromModification_1a2d3025-a5d5-4b25-9e9d-6db8bb7d7e86_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableModifiedWeightedAverageTermIncreaseFromModification" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Weighted average term increase from modification </link:label>
<link:label id="lab_us-gaap_FinancingReceivableModifiedWeightedAverageTermIncreaseFromModification_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableModifiedWeightedAverageTermIncreaseFromModification" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financing Receivable, Modified, Weighted Average Term Increase from Modification </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableModifiedWeightedAverageTermIncreaseFromModification" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FinancingReceivableModifiedWeightedAverageTermIncreaseFromModification"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableModifiedWeightedAverageTermIncreaseFromModification" xlink:to="lab_us-gaap_FinancingReceivableModifiedWeightedAverageTermIncreaseFromModification" xlink:type="arc" order="1"/>
<link:label id="lab_ms_LongTermDebtVariableRateMember_00f21836-4b2e-42f0-a77c-be90ffebe750_terseLabel_en-US" xlink:label="lab_ms_LongTermDebtVariableRateMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Variable Rate </link:label>
<link:label id="lab_ms_LongTermDebtVariableRateMember_label_en-US" xlink:label="lab_ms_LongTermDebtVariableRateMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Long-term Debt, Variable Rate [Member] </link:label>
<link:label id="lab_ms_LongTermDebtVariableRateMember_documentation_en-US" xlink:label="lab_ms_LongTermDebtVariableRateMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Long-term debt with variable interest rate. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_LongTermDebtVariableRateMember" xlink:href="ms-20231231.xsd#ms_LongTermDebtVariableRateMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_LongTermDebtVariableRateMember" xlink:to="lab_ms_LongTermDebtVariableRateMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_OccupancyNet_de027955-a94a-47b7-af44-011cb6b3fbd1_terseLabel_en-US" xlink:label="lab_us-gaap_OccupancyNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Occupancy and equipment </link:label>
<link:label id="lab_us-gaap_OccupancyNet_label_en-US" xlink:label="lab_us-gaap_OccupancyNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Occupancy, Net </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OccupancyNet" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OccupancyNet"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OccupancyNet" xlink:to="lab_us-gaap_OccupancyNet" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_OperatingLeaseRightOfUseAsset_a178e7cd-94c7-4a7c-9466-404f647f84a9_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeaseRightOfUseAsset" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other assets—ROU assets </link:label>
<link:label id="lab_us-gaap_OperatingLeaseRightOfUseAsset_label_en-US" xlink:label="lab_us-gaap_OperatingLeaseRightOfUseAsset" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Operating Lease, Right-of-Use Asset </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingLeaseRightOfUseAsset" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OperatingLeaseRightOfUseAsset"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingLeaseRightOfUseAsset" xlink:to="lab_us-gaap_OperatingLeaseRightOfUseAsset" xlink:type="arc" order="1"/>
<link:label id="lab_ms_DeferredTaxAssetsInventoryInvestmentsAndReceivables_cace3345-2af1-4d1a-9779-f2984296d873_terseLabel_en-US" xlink:label="lab_ms_DeferredTaxAssetsInventoryInvestmentsAndReceivables" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Valuation of net trading inventory, investments and receivables </link:label>
<link:label id="lab_ms_DeferredTaxAssetsInventoryInvestmentsAndReceivables_label_en-US" xlink:label="lab_ms_DeferredTaxAssetsInventoryInvestmentsAndReceivables" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Deferred Tax Assets, Inventory, Investments and Receivables </link:label>
<link:label id="lab_ms_DeferredTaxAssetsInventoryInvestmentsAndReceivables_documentation_en-US" xlink:label="lab_ms_DeferredTaxAssetsInventoryInvestmentsAndReceivables" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from inventory, investments and receivables. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_DeferredTaxAssetsInventoryInvestmentsAndReceivables" xlink:href="ms-20231231.xsd#ms_DeferredTaxAssetsInventoryInvestmentsAndReceivables"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_DeferredTaxAssetsInventoryInvestmentsAndReceivables" xlink:to="lab_ms_DeferredTaxAssetsInventoryInvestmentsAndReceivables" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_TransferOfFinancialAssetsAccountedForAsSalesLineItems_3477bb64-bead-48d6-bef0-949c0139af51_terseLabel_en-US" xlink:label="lab_us-gaap_TransferOfFinancialAssetsAccountedForAsSalesLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Transfer of Financial Assets Accounted for as Sales </link:label>
<link:label id="lab_us-gaap_TransferOfFinancialAssetsAccountedForAsSalesLineItems_label_en-US" xlink:label="lab_us-gaap_TransferOfFinancialAssetsAccountedForAsSalesLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Transfer of Financial Assets Accounted for as Sales [Line Items] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_TransferOfFinancialAssetsAccountedForAsSalesLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_TransferOfFinancialAssetsAccountedForAsSalesLineItems"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TransferOfFinancialAssetsAccountedForAsSalesLineItems" xlink:to="lab_us-gaap_TransferOfFinancialAssetsAccountedForAsSalesLineItems" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_CurrentForeignTaxExpenseBenefit_aec59f7d-4948-4c3c-a8e9-0915a3ad50b0_terseLabel_en-US" xlink:label="lab_us-gaap_CurrentForeignTaxExpenseBenefit" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Non-U.S. </link:label>
<link:label id="lab_us-gaap_CurrentForeignTaxExpenseBenefit_label_en-US" xlink:label="lab_us-gaap_CurrentForeignTaxExpenseBenefit" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Current Foreign Tax Expense (Benefit) </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CurrentForeignTaxExpenseBenefit" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CurrentForeignTaxExpenseBenefit"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CurrentForeignTaxExpenseBenefit" xlink:to="lab_us-gaap_CurrentForeignTaxExpenseBenefit" xlink:type="arc" order="1"/>
<link:label id="lab_ms_LoansAndOtherReceivablesMember_f3c636a6-306a-4cfd-a947-59e90b000713_terseLabel_en-US" xlink:label="lab_ms_LoansAndOtherReceivablesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Loans and other receivables </link:label>
<link:label id="lab_ms_LoansAndOtherReceivablesMember_label_en-US" xlink:label="lab_ms_LoansAndOtherReceivablesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Loans and Other Receivables [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_LoansAndOtherReceivablesMember" xlink:href="ms-20231231.xsd#ms_LoansAndOtherReceivablesMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_LoansAndOtherReceivablesMember" xlink:to="lab_ms_LoansAndOtherReceivablesMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_CommercialRealEstatePortfolioSegmentMember_dc4c6c50-cf73-4921-ac15-9faf8969d904_terseLabel_en-US" xlink:label="lab_us-gaap_CommercialRealEstatePortfolioSegmentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Commercial real estate </link:label>
<link:label id="lab_us-gaap_CommercialRealEstatePortfolioSegmentMember_label_en-US" xlink:label="lab_us-gaap_CommercialRealEstatePortfolioSegmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Commercial Real Estate Portfolio Segment [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommercialRealEstatePortfolioSegmentMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CommercialRealEstatePortfolioSegmentMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommercialRealEstatePortfolioSegmentMember" xlink:to="lab_us-gaap_CommercialRealEstatePortfolioSegmentMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_NetRevenueFromExternalCustomersByGeographicAreasTableTextBlock_ed74fa73-e375-44c1-95f8-240deab42206_terseLabel_en-US" xlink:label="lab_ms_NetRevenueFromExternalCustomersByGeographicAreasTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Net Revenues by Region </link:label>
<link:label id="lab_ms_NetRevenueFromExternalCustomersByGeographicAreasTableTextBlock_label_en-US" xlink:label="lab_ms_NetRevenueFromExternalCustomersByGeographicAreasTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Net Revenue from External Customers by Geographic Areas [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_NetRevenueFromExternalCustomersByGeographicAreasTableTextBlock" xlink:href="ms-20231231.xsd#ms_NetRevenueFromExternalCustomersByGeographicAreasTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_NetRevenueFromExternalCustomersByGeographicAreasTableTextBlock" xlink:to="lab_ms_NetRevenueFromExternalCustomersByGeographicAreasTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_ms_MorganStanleyTotalShareholderReturnRelativeToTotalShareholderReturnOfStandardPoors500FinancialsSectorIndexMember_029885bb-3ff0-46fa-a8e8-3e0c7420238d_terseLabel_en-US" xlink:label="lab_ms_MorganStanleyTotalShareholderReturnRelativeToTotalShareholderReturnOfStandardPoors500FinancialsSectorIndexMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> MS Relative TSR </link:label>
<link:label id="lab_ms_MorganStanleyTotalShareholderReturnRelativeToTotalShareholderReturnOfStandardPoors500FinancialsSectorIndexMember_label_en-US" xlink:label="lab_ms_MorganStanleyTotalShareholderReturnRelativeToTotalShareholderReturnOfStandardPoors500FinancialsSectorIndexMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Morgan Stanley Total Shareholder Return, Relative to Total Shareholder Return of Standard & Poor's 500 Financials Sector Index [Member] </link:label>
<link:label id="lab_ms_MorganStanleyTotalShareholderReturnRelativeToTotalShareholderReturnOfStandardPoors500FinancialsSectorIndexMember_documentation_en-US" xlink:label="lab_ms_MorganStanleyTotalShareholderReturnRelativeToTotalShareholderReturnOfStandardPoors500FinancialsSectorIndexMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Morgan Stanley's total shareholder return, relative to the total shareholder return of Standard & Poor's 500 Financials Sector Index. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_MorganStanleyTotalShareholderReturnRelativeToTotalShareholderReturnOfStandardPoors500FinancialsSectorIndexMember" xlink:href="ms-20231231.xsd#ms_MorganStanleyTotalShareholderReturnRelativeToTotalShareholderReturnOfStandardPoors500FinancialsSectorIndexMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_MorganStanleyTotalShareholderReturnRelativeToTotalShareholderReturnOfStandardPoors500FinancialsSectorIndexMember" xlink:to="lab_ms_MorganStanleyTotalShareholderReturnRelativeToTotalShareholderReturnOfStandardPoors500FinancialsSectorIndexMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_RelatedPartyMember_a6015c7a-28dd-4520-80de-16a9c3c62b42_terseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Related Party </link:label>
<link:label id="lab_us-gaap_RelatedPartyMember_label_en-US" xlink:label="lab_us-gaap_RelatedPartyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Related Party [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_RelatedPartyMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_RelatedPartyMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyMember" xlink:to="lab_us-gaap_RelatedPartyMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_ForeignTargetedCashFlowFundsMember_1f7a22e0-f7e0-4743-878a-96a11f6e7c52_terseLabel_en-US" xlink:label="lab_ms_ForeignTargetedCashFlowFundsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Foreign Funds: Targeted Cash Flow </link:label>
<link:label id="lab_ms_ForeignTargetedCashFlowFundsMember_label_en-US" xlink:label="lab_ms_ForeignTargetedCashFlowFundsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Foreign Targeted Cash Flow Funds [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_ForeignTargetedCashFlowFundsMember" xlink:href="ms-20231231.xsd#ms_ForeignTargetedCashFlowFundsMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_ForeignTargetedCashFlowFundsMember" xlink:to="lab_ms_ForeignTargetedCashFlowFundsMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ScheduleOfCashAndCashEquivalentsTable_4f02d416-7641-4dad-af3a-6e8de99a36fd_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfCashAndCashEquivalentsTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Cash and Cash Equivalents [Table] </link:label>
<link:label id="lab_us-gaap_ScheduleOfCashAndCashEquivalentsTable_label_en-US" xlink:label="lab_us-gaap_ScheduleOfCashAndCashEquivalentsTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Cash and Cash Equivalents [Table] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfCashAndCashEquivalentsTable" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfCashAndCashEquivalentsTable"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfCashAndCashEquivalentsTable" xlink:to="lab_us-gaap_ScheduleOfCashAndCashEquivalentsTable" xlink:type="arc" order="1"/>
<link:label id="lab_ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalInYearFive_561d4bb7-c11c-4a4a-9228-1e64bb26ba7d_terseLabel_en-US" xlink:label="lab_ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalInYearFive" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Year 5 </link:label>
<link:label id="lab_ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalInYearFive_label_en-US" xlink:label="lab_ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalInYearFive" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Transfers Accounted for as Secured Borrowings, Associated Liabilities, Maturities, Repayments of Principal in Year Five </link:label>
<link:label id="lab_ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalInYearFive_documentation_en-US" xlink:label="lab_ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalInYearFive" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Amount of liabilities associated with financial assets accounted for as secured borrowings maturing in the fifth fiscal year following the latest fiscal year. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalInYearFive" xlink:href="ms-20231231.xsd#ms_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesMaturitiesRepaymentsOfPrincipalInYearFive"/>
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<link:label id="lab_ms_SecuredFinancingsOriginalMaturitiesOneYearOrLess_ae82bf95-9ca8-499f-8bb5-ec4be6320009_terseLabel_en-US" xlink:label="lab_ms_SecuredFinancingsOriginalMaturitiesOneYearOrLess" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Secured financings with original maturities one year or less </link:label>
<link:label id="lab_ms_SecuredFinancingsOriginalMaturitiesOneYearOrLess_label_en-US" xlink:label="lab_ms_SecuredFinancingsOriginalMaturitiesOneYearOrLess" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Secured Financings, Original Maturities One Year or Less </link:label>
<link:label id="lab_ms_SecuredFinancingsOriginalMaturitiesOneYearOrLess_documentation_en-US" xlink:label="lab_ms_SecuredFinancingsOriginalMaturitiesOneYearOrLess" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Secured financings with original maturities one year or less. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_SecuredFinancingsOriginalMaturitiesOneYearOrLess" xlink:href="ms-20231231.xsd#ms_SecuredFinancingsOriginalMaturitiesOneYearOrLess"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_SecuredFinancingsOriginalMaturitiesOneYearOrLess" xlink:to="lab_ms_SecuredFinancingsOriginalMaturitiesOneYearOrLess" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DerivativeAssetFairValueGrossLiabilityAndObligationToReturnCashOffset_ce74da25-0d1c-410c-8540-b0f0bc75f131_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_DerivativeAssetFairValueGrossLiabilityAndObligationToReturnCashOffset" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Netting </link:label>
<link:label id="lab_us-gaap_DerivativeAssetFairValueGrossLiabilityAndObligationToReturnCashOffset_label_en-US" xlink:label="lab_us-gaap_DerivativeAssetFairValueGrossLiabilityAndObligationToReturnCashOffset" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeAssetFairValueGrossLiabilityAndObligationToReturnCashOffset" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DerivativeAssetFairValueGrossLiabilityAndObligationToReturnCashOffset"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeAssetFairValueGrossLiabilityAndObligationToReturnCashOffset" xlink:to="lab_us-gaap_DerivativeAssetFairValueGrossLiabilityAndObligationToReturnCashOffset" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ScheduleOfFinancialInstrumentsOwnedAndPledgedAsCollateralTextBlock_2be56199-7b97-4ebe-803b-6acc98a58461_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfFinancialInstrumentsOwnedAndPledgedAsCollateralTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Carrying Value of Assets Loaned or Pledged Without Counterparty Right to Sell or Repledge </link:label>
<link:label id="lab_us-gaap_ScheduleOfFinancialInstrumentsOwnedAndPledgedAsCollateralTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfFinancialInstrumentsOwnedAndPledgedAsCollateralTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Financial Instruments Owned and Pledged as Collateral [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfFinancialInstrumentsOwnedAndPledgedAsCollateralTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfFinancialInstrumentsOwnedAndPledgedAsCollateralTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfFinancialInstrumentsOwnedAndPledgedAsCollateralTextBlock" xlink:to="lab_us-gaap_ScheduleOfFinancialInstrumentsOwnedAndPledgedAsCollateralTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_CommonStockSharesAuthorized_39077106-f423-4e8e-a790-3538eb7660f5_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockSharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Common stock authorized (in shares) </link:label>
<link:label id="lab_us-gaap_CommonStockSharesAuthorized_label_en-US" xlink:label="lab_us-gaap_CommonStockSharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Common Stock, Shares Authorized </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockSharesAuthorized" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CommonStockSharesAuthorized"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockSharesAuthorized" xlink:to="lab_us-gaap_CommonStockSharesAuthorized" xlink:type="arc" order="1"/>
<link:label id="lab_ms_TreasuryStockValueAcquiredCostMethodAndEmployeeTaxWithholdings_b3e4c182-e36b-4183-aff7-3213c5e33ede_negatedTerseLabel_en-US" xlink:label="lab_ms_TreasuryStockValueAcquiredCostMethodAndEmployeeTaxWithholdings" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Repurchases of common stock and employee tax withholdings </link:label>
<link:label id="lab_ms_TreasuryStockValueAcquiredCostMethodAndEmployeeTaxWithholdings_label_en-US" xlink:label="lab_ms_TreasuryStockValueAcquiredCostMethodAndEmployeeTaxWithholdings" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Treasury Stock, Value, Acquired, Cost Method and Employee Tax Withholdings </link:label>
<link:label id="lab_ms_TreasuryStockValueAcquiredCostMethodAndEmployeeTaxWithholdings_documentation_en-US" xlink:label="lab_ms_TreasuryStockValueAcquiredCostMethodAndEmployeeTaxWithholdings" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Equity impact of the cost of common and preferred stock that were repurchased during the period recorded using the cost method, and employee tax withholdings. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_TreasuryStockValueAcquiredCostMethodAndEmployeeTaxWithholdings" xlink:href="ms-20231231.xsd#ms_TreasuryStockValueAcquiredCostMethodAndEmployeeTaxWithholdings"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_TreasuryStockValueAcquiredCostMethodAndEmployeeTaxWithholdings" xlink:to="lab_ms_TreasuryStockValueAcquiredCostMethodAndEmployeeTaxWithholdings" xlink:type="arc" order="1"/>
<link:label id="lab_ms_DebtSecuritiesHeldtomaturityMaturityAllocatedandSingleMaturityDateRollingafter10YearsAmortizedCostLessAllowanceforCreditLoss_1e026b4d-8fca-4323-9548-1cb657da5d82_terseLabel_en-US" xlink:label="lab_ms_DebtSecuritiesHeldtomaturityMaturityAllocatedandSingleMaturityDateRollingafter10YearsAmortizedCostLessAllowanceforCreditLoss" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> HTM securities: Net carrying amount, after 10 years </link:label>
<link:label id="lab_ms_DebtSecuritiesHeldtomaturityMaturityAllocatedandSingleMaturityDateRollingafter10YearsAmortizedCostLessAllowanceforCreditLoss_label_en-US" xlink:label="lab_ms_DebtSecuritiesHeldtomaturityMaturityAllocatedandSingleMaturityDateRollingafter10YearsAmortizedCostLessAllowanceforCreditLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, Rolling after 10 Years, Amortized Cost Less Allowance for Credit Loss </link:label>
<link:label id="lab_ms_DebtSecuritiesHeldtomaturityMaturityAllocatedandSingleMaturityDateRollingafter10YearsAmortizedCostLessAllowanceforCreditLoss_documentation_en-US" xlink:label="lab_ms_DebtSecuritiesHeldtomaturityMaturityAllocatedandSingleMaturityDateRollingafter10YearsAmortizedCostLessAllowanceforCreditLoss" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, Rolling after 10 Years, Amortized Cost Less Allowance for Credit Loss </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_DebtSecuritiesHeldtomaturityMaturityAllocatedandSingleMaturityDateRollingafter10YearsAmortizedCostLessAllowanceforCreditLoss" xlink:href="ms-20231231.xsd#ms_DebtSecuritiesHeldtomaturityMaturityAllocatedandSingleMaturityDateRollingafter10YearsAmortizedCostLessAllowanceforCreditLoss"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_DebtSecuritiesHeldtomaturityMaturityAllocatedandSingleMaturityDateRollingafter10YearsAmortizedCostLessAllowanceforCreditLoss" xlink:to="lab_ms_DebtSecuritiesHeldtomaturityMaturityAllocatedandSingleMaturityDateRollingafter10YearsAmortizedCostLessAllowanceforCreditLoss" xlink:type="arc" order="1"/>
<link:label id="lab_ms_FinancingReceivableAndOffBalanceSheetCreditLossLiabilityCreditLossExpenseReversal_f638d01e-2f70-4418-a405-ef8c31359c9b_terseLabel_en-US" xlink:label="lab_ms_FinancingReceivableAndOffBalanceSheetCreditLossLiabilityCreditLossExpenseReversal" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Provision for credit losses </link:label>
<link:label id="lab_ms_FinancingReceivableAndOffBalanceSheetCreditLossLiabilityCreditLossExpenseReversal_label_en-US" xlink:label="lab_ms_FinancingReceivableAndOffBalanceSheetCreditLossLiabilityCreditLossExpenseReversal" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financing Receivable And Off-Balance Sheet, Credit Loss, Liability, Credit Loss Expense (Reversal) </link:label>
<link:label id="lab_ms_FinancingReceivableAndOffBalanceSheetCreditLossLiabilityCreditLossExpenseReversal_documentation_en-US" xlink:label="lab_ms_FinancingReceivableAndOffBalanceSheetCreditLossLiabilityCreditLossExpenseReversal" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financing Receivable And Off-Balance Sheet, Credit Loss, Liability, Credit Loss Expense (Reversal) </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_FinancingReceivableAndOffBalanceSheetCreditLossLiabilityCreditLossExpenseReversal" xlink:href="ms-20231231.xsd#ms_FinancingReceivableAndOffBalanceSheetCreditLossLiabilityCreditLossExpenseReversal"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_FinancingReceivableAndOffBalanceSheetCreditLossLiabilityCreditLossExpenseReversal" xlink:to="lab_ms_FinancingReceivableAndOffBalanceSheetCreditLossLiabilityCreditLossExpenseReversal" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_TransferOfFinancialAssetsAccountedForAsSalesTable_d3da9cef-d54c-432c-a47a-e702ada541d4_terseLabel_en-US" xlink:label="lab_us-gaap_TransferOfFinancialAssetsAccountedForAsSalesTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Transfer of Financial Assets Accounted for as Sales [Table] </link:label>
<link:label id="lab_us-gaap_TransferOfFinancialAssetsAccountedForAsSalesTable_label_en-US" xlink:label="lab_us-gaap_TransferOfFinancialAssetsAccountedForAsSalesTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Transfer of Financial Assets Accounted for as Sales [Table] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_TransferOfFinancialAssetsAccountedForAsSalesTable" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_TransferOfFinancialAssetsAccountedForAsSalesTable"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TransferOfFinancialAssetsAccountedForAsSalesTable" xlink:to="lab_us-gaap_TransferOfFinancialAssetsAccountedForAsSalesTable" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_c5f001ff-d501-4b3c-8a73-f78ff67813eb_verboseLabel_en-US" xlink:label="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Adjustments to reconcile net income to net cash provided by (used for) operating activities: </link:label>
<link:label id="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_label_en-US" xlink:label="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DerivativeLineItems_29e4592c-6e9a-4dce-ad64-37e264ed0e84_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative [Line Items] </link:label>
<link:label id="lab_us-gaap_DerivativeLineItems_label_en-US" xlink:label="lab_us-gaap_DerivativeLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative [Line Items] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DerivativeLineItems"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeLineItems" xlink:to="lab_us-gaap_DerivativeLineItems" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_TierOneLeverageCapitalToAverageAssets_2d7e1edf-5ebe-44cb-9f94-c0f01d086756_terseLabel_en-US" xlink:label="lab_us-gaap_TierOneLeverageCapitalToAverageAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Tier 1 leverage (as a percent) </link:label>
<link:label id="lab_us-gaap_TierOneLeverageCapitalToAverageAssets_label_en-US" xlink:label="lab_us-gaap_TierOneLeverageCapitalToAverageAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Banking Regulation, Tier 1 Leverage Capital Ratio, Actual </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_TierOneLeverageCapitalToAverageAssets" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_TierOneLeverageCapitalToAverageAssets"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TierOneLeverageCapitalToAverageAssets" xlink:to="lab_us-gaap_TierOneLeverageCapitalToAverageAssets" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_SecuritiesPurchasedUnderAgreementsToResellAbstract_0d1776ea-4004-4366-9494-82b2dcfc85ab_terseLabel_en-US" xlink:label="lab_us-gaap_SecuritiesPurchasedUnderAgreementsToResellAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Securities purchased under agreements to resell </link:label>
<link:label id="lab_us-gaap_SecuritiesPurchasedUnderAgreementsToResellAbstract_label_en-US" xlink:label="lab_us-gaap_SecuritiesPurchasedUnderAgreementsToResellAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Securities Purchased under Agreements to Resell [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_SecuritiesPurchasedUnderAgreementsToResellAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SecuritiesPurchasedUnderAgreementsToResellAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SecuritiesPurchasedUnderAgreementsToResellAbstract" xlink:to="lab_us-gaap_SecuritiesPurchasedUnderAgreementsToResellAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTable_235ff014-d4ae-41a6-97d5-5722d7afe7b4_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Accounts, Notes, Loans and Financing Receivable [Table] </link:label>
<link:label id="lab_us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTable_label_en-US" xlink:label="lab_us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Accounts, Notes, Loans and Financing Receivable [Table] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTable" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTable"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTable" xlink:to="lab_us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTable" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue_c0bbae22-1222-45c2-bc59-955967b1c0c1_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Vested </link:label>
<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_OtherCommitmentsAxis_d0ade038-d002-4d08-ad66-f2c2f99690e5_terseLabel_en-US" xlink:label="lab_us-gaap_OtherCommitmentsAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other Commitments [Axis] </link:label>
<link:label id="lab_us-gaap_OtherCommitmentsAxis_label_en-US" xlink:label="lab_us-gaap_OtherCommitmentsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other Commitments [Axis] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherCommitmentsAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OtherCommitmentsAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherCommitmentsAxis" xlink:to="lab_us-gaap_OtherCommitmentsAxis" xlink:type="arc" order="1"/>
<link:label id="lab_ms_FairValueAssetsandLiabilitiesMeasuredonRecurringBasisUnobservableInputReconciliationLineItems_531750e6-ca07-4879-8dfd-157acbc8d2ed_terseLabel_en-US" xlink:label="lab_ms_FairValueAssetsandLiabilitiesMeasuredonRecurringBasisUnobservableInputReconciliationLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] </link:label>
<link:label id="lab_ms_FairValueAssetsandLiabilitiesMeasuredonRecurringBasisUnobservableInputReconciliationLineItems_label_en-US" xlink:label="lab_ms_FairValueAssetsandLiabilitiesMeasuredonRecurringBasisUnobservableInputReconciliationLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] </link:label>
<link:label id="lab_ms_FairValueAssetsandLiabilitiesMeasuredonRecurringBasisUnobservableInputReconciliationLineItems_documentation_en-US" xlink:label="lab_ms_FairValueAssetsandLiabilitiesMeasuredonRecurringBasisUnobservableInputReconciliationLineItems" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_FairValueAssetsandLiabilitiesMeasuredonRecurringBasisUnobservableInputReconciliationLineItems" xlink:href="ms-20231231.xsd#ms_FairValueAssetsandLiabilitiesMeasuredonRecurringBasisUnobservableInputReconciliationLineItems"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_FairValueAssetsandLiabilitiesMeasuredonRecurringBasisUnobservableInputReconciliationLineItems" xlink:to="lab_ms_FairValueAssetsandLiabilitiesMeasuredonRecurringBasisUnobservableInputReconciliationLineItems" xlink:type="arc" order="1"/>
<link:label id="lab_dei_DocumentInformationLineItems_dafb5d15-275e-43ad-8194-2861a85b60a0_terseLabel_en-US" xlink:label="lab_dei_DocumentInformationLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Document Information [Line Items] </link:label>
<link:label id="lab_dei_DocumentInformationLineItems_label_en-US" xlink:label="lab_dei_DocumentInformationLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Document Information [Line Items] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_dei_DocumentInformationLineItems" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentInformationLineItems"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentInformationLineItems" xlink:to="lab_dei_DocumentInformationLineItems" xlink:type="arc" order="1"/>
<link:label id="lab_ms_SecuredFinancingsOriginalMaturitiesGreaterThanOneYear_b96effdf-b67e-498e-9c7f-e4c70605aeb1_terseLabel_en-US" xlink:label="lab_ms_SecuredFinancingsOriginalMaturitiesGreaterThanOneYear" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Secured financings with original maturities greater than one year </link:label>
<link:label id="lab_ms_SecuredFinancingsOriginalMaturitiesGreaterThanOneYear_label_en-US" xlink:label="lab_ms_SecuredFinancingsOriginalMaturitiesGreaterThanOneYear" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Secured Financings, Original Maturities Greater than One Year </link:label>
<link:label id="lab_ms_SecuredFinancingsOriginalMaturitiesGreaterThanOneYear_documentation_en-US" xlink:label="lab_ms_SecuredFinancingsOriginalMaturitiesGreaterThanOneYear" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Secured financings with original maturities greater than one year. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_SecuredFinancingsOriginalMaturitiesGreaterThanOneYear" xlink:href="ms-20231231.xsd#ms_SecuredFinancingsOriginalMaturitiesGreaterThanOneYear"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_SecuredFinancingsOriginalMaturitiesGreaterThanOneYear" xlink:to="lab_ms_SecuredFinancingsOriginalMaturitiesGreaterThanOneYear" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_PledgedStatusDomain_51774774-40b1-46a1-87cd-aa99f9b70dcb_terseLabel_en-US" xlink:label="lab_us-gaap_PledgedStatusDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Pledged Status [Domain] </link:label>
<link:label id="lab_us-gaap_PledgedStatusDomain_label_en-US" xlink:label="lab_us-gaap_PledgedStatusDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Pledged Status [Domain] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_PledgedStatusDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PledgedStatusDomain"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PledgedStatusDomain" xlink:to="lab_us-gaap_PledgedStatusDomain" xlink:type="arc" order="1"/>
<link:label id="lab_ms_InvestmentInSubsidiariesAtEquityAbstract_e002a829-19c6-46e6-b78c-886219e73665_terseLabel_en-US" xlink:label="lab_ms_InvestmentInSubsidiariesAtEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Equity investments in subsidiaries: </link:label>
<link:label id="lab_ms_InvestmentInSubsidiariesAtEquityAbstract_label_en-US" xlink:label="lab_ms_InvestmentInSubsidiariesAtEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Investment in Subsidiaries at Equity [Abstract] </link:label>
<link:label id="lab_ms_InvestmentInSubsidiariesAtEquityAbstract_documentation_en-US" xlink:label="lab_ms_InvestmentInSubsidiariesAtEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Investment in subsidiaries, at equity [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_InvestmentInSubsidiariesAtEquityAbstract" xlink:href="ms-20231231.xsd#ms_InvestmentInSubsidiariesAtEquityAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_InvestmentInSubsidiariesAtEquityAbstract" xlink:to="lab_ms_InvestmentInSubsidiariesAtEquityAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_IncomeTaxPolicyTextBlock_f8dcc5e0-5044-49b1-803d-2e08800a4cb1_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Income Taxes </link:label>
<link:label id="lab_us-gaap_IncomeTaxPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_IncomeTaxPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Income Tax, Policy [Policy Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeTaxPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_IncomeTaxPolicyTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeTaxPolicyTextBlock" xlink:to="lab_us-gaap_IncomeTaxPolicyTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_ms_MeasurementInputFundingSpreadMember_90857e6a-bb18-442c-ba8e-0c4912119361_terseLabel_en-US" xlink:label="lab_ms_MeasurementInputFundingSpreadMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Funding Spread </link:label>
<link:label id="lab_ms_MeasurementInputFundingSpreadMember_label_en-US" xlink:label="lab_ms_MeasurementInputFundingSpreadMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Measurement Input, Funding Spread [Member] </link:label>
<link:label id="lab_ms_MeasurementInputFundingSpreadMember_documentation_en-US" xlink:label="lab_ms_MeasurementInputFundingSpreadMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Measurement input using the cost of borrowing defined as the incremental spread over the OIS rate for a specific collateral rate (which refers to the rate applicable to a specific type of security pledged as collateral). </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_MeasurementInputFundingSpreadMember" xlink:href="ms-20231231.xsd#ms_MeasurementInputFundingSpreadMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_MeasurementInputFundingSpreadMember" xlink:to="lab_ms_MeasurementInputFundingSpreadMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_LoanRestructuringModificationAxis_82062657-48db-4999-af53-7abde1f8f846_terseLabel_en-US" xlink:label="lab_us-gaap_LoanRestructuringModificationAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Loan Restructuring Modification [Axis] </link:label>
<link:label id="lab_us-gaap_LoanRestructuringModificationAxis_label_en-US" xlink:label="lab_us-gaap_LoanRestructuringModificationAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Loan Restructuring Modification [Axis] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LoanRestructuringModificationAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LoanRestructuringModificationAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LoanRestructuringModificationAxis" xlink:to="lab_us-gaap_LoanRestructuringModificationAxis" xlink:type="arc" order="1"/>
<link:label id="lab_ms_FinancingReceivableIncludingHeldForSaleWithFixedRatesOfInterest_96d76f50-2098-4987-961f-c72c8829b6e5_terseLabel_en-US" xlink:label="lab_ms_FinancingReceivableIncludingHeldForSaleWithFixedRatesOfInterest" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fixed Rate </link:label>
<link:label id="lab_ms_FinancingReceivableIncludingHeldForSaleWithFixedRatesOfInterest_label_en-US" xlink:label="lab_ms_FinancingReceivableIncludingHeldForSaleWithFixedRatesOfInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financing Receivable Including Held-for-Sale with Fixed Rates of Interest </link:label>
<link:label id="lab_ms_FinancingReceivableIncludingHeldForSaleWithFixedRatesOfInterest_documentation_en-US" xlink:label="lab_ms_FinancingReceivableIncludingHeldForSaleWithFixedRatesOfInterest" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Financing Receivable Including Held-for-Sale with Fixed Rates of Interest </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_FinancingReceivableIncludingHeldForSaleWithFixedRatesOfInterest" xlink:href="ms-20231231.xsd#ms_FinancingReceivableIncludingHeldForSaleWithFixedRatesOfInterest"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_FinancingReceivableIncludingHeldForSaleWithFixedRatesOfInterest" xlink:to="lab_ms_FinancingReceivableIncludingHeldForSaleWithFixedRatesOfInterest" xlink:type="arc" order="1"/>
<link:label id="lab_ms_SeriesOPreferredStockMember_93911d92-889f-45ac-9cc9-d8b5b53267ae_terseLabel_en-US" xlink:label="lab_ms_SeriesOPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Non-Cumulative Preferred Stock, Series O, $0.01 par value </link:label>
<link:label id="lab_ms_SeriesOPreferredStockMember_b5c19d6d-b4bc-4905-9c3f-119e394d9b05_verboseLabel_en-US" xlink:label="lab_ms_SeriesOPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Series O </link:label>
<link:label id="lab_ms_SeriesOPreferredStockMember_label_en-US" xlink:label="lab_ms_SeriesOPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Series O Preferred Stock [Member] </link:label>
<link:label id="lab_ms_SeriesOPreferredStockMember_documentation_en-US" xlink:label="lab_ms_SeriesOPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Series O Preferred Stock </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_SeriesOPreferredStockMember" xlink:href="ms-20231231.xsd#ms_SeriesOPreferredStockMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_SeriesOPreferredStockMember" xlink:to="lab_ms_SeriesOPreferredStockMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_ScheduleOfParentGuarantorObligationsTableTextBlock_d1a098ba-637f-40e8-b7df-27d410a170dd_terseLabel_en-US" xlink:label="lab_ms_ScheduleOfParentGuarantorObligationsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Obligations under Guarantee Arrangements </link:label>
<link:label id="lab_ms_ScheduleOfParentGuarantorObligationsTableTextBlock_label_en-US" xlink:label="lab_ms_ScheduleOfParentGuarantorObligationsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Parent Guarantor Obligations [Table Text Block] </link:label>
<link:label id="lab_ms_ScheduleOfParentGuarantorObligationsTableTextBlock_documentation_en-US" xlink:label="lab_ms_ScheduleOfParentGuarantorObligationsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Tabular disclosure of each guarantee obligation, or each group of similar guarantee obligations by parent company. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_ScheduleOfParentGuarantorObligationsTableTextBlock" xlink:href="ms-20231231.xsd#ms_ScheduleOfParentGuarantorObligationsTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_ScheduleOfParentGuarantorObligationsTableTextBlock" xlink:to="lab_ms_ScheduleOfParentGuarantorObligationsTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_CommonEquityTierOneCapitalAbstract_488dda72-48ae-4669-b108-dbe411778fa0_terseLabel_en-US" xlink:label="lab_us-gaap_CommonEquityTierOneCapitalAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Common Equity Tier 1 capital ratio </link:label>
<link:label id="lab_us-gaap_CommonEquityTierOneCapitalAbstract_label_en-US" xlink:label="lab_us-gaap_CommonEquityTierOneCapitalAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Banking Regulation, Common Equity Tier 1 Risk-Based Capital [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonEquityTierOneCapitalAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CommonEquityTierOneCapitalAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonEquityTierOneCapitalAbstract" xlink:to="lab_us-gaap_CommonEquityTierOneCapitalAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_dei_EntityRegistrantName_fda0224f-6528-461d-a02f-c0ea15f93208_terseLabel_en-US" xlink:label="lab_dei_EntityRegistrantName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Entity Registrant Name </link:label>
<link:label id="lab_dei_EntityRegistrantName_label_en-US" xlink:label="lab_dei_EntityRegistrantName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Entity Registrant Name </link:label>
<link:loc xlink:type="locator" xlink:label="loc_dei_EntityRegistrantName" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityRegistrantName"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityRegistrantName" xlink:to="lab_dei_EntityRegistrantName" xlink:type="arc" order="1"/>
<link:label id="lab_ms_ProceedsFromPaymentsForAbstract_5b4e6dbc-7574-4753-bdd0-3c6c3ccdfeba_terseLabel_en-US" xlink:label="lab_ms_ProceedsFromPaymentsForAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Proceeds from (payments for): </link:label>
<link:label id="lab_ms_ProceedsFromPaymentsForAbstract_label_en-US" xlink:label="lab_ms_ProceedsFromPaymentsForAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Proceeds from (Payments for) [Abstract] </link:label>
<link:label id="lab_ms_ProceedsFromPaymentsForAbstract_documentation_en-US" xlink:label="lab_ms_ProceedsFromPaymentsForAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Proceeds from (Payments for) </link:label>
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<link:label id="lab_us-gaap_EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential_317b2601-a780-40e6-bb58-4287da3c9b12_terseLabel_en-US" xlink:label="lab_us-gaap_EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Non-U.S. earnings </link:label>
<link:label id="lab_us-gaap_EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential_label_en-US" xlink:label="lab_us-gaap_EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Percent </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential" xlink:to="lab_us-gaap_EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential" xlink:type="arc" order="1"/>
<link:label id="lab_ms_ScheduleOfCashAndSecuritiesSegregatedUnderFederalAndOtherRegulationsTableTextBlock_164a5875-c656-4190-94c4-cb8511dced21_terseLabel_en-US" xlink:label="lab_ms_ScheduleOfCashAndSecuritiesSegregatedUnderFederalAndOtherRegulationsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Restricted Cash and Segregated Securities </link:label>
<link:label id="lab_ms_ScheduleOfCashAndSecuritiesSegregatedUnderFederalAndOtherRegulationsTableTextBlock_label_en-US" xlink:label="lab_ms_ScheduleOfCashAndSecuritiesSegregatedUnderFederalAndOtherRegulationsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Cash and Securities Segregated under Federal and Other Regulations [Table Text Block] </link:label>
<link:label id="lab_ms_ScheduleOfCashAndSecuritiesSegregatedUnderFederalAndOtherRegulationsTableTextBlock_documentation_en-US" xlink:label="lab_ms_ScheduleOfCashAndSecuritiesSegregatedUnderFederalAndOtherRegulationsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Tabular disclosure of cash subject to withdrawal restrictions, restricted deposits held as compensating balances, and cash and securities segregated in compliance with regulations (such as cash deposited in a special reserve account for the exclusive benefit of customers). </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_ScheduleOfCashAndSecuritiesSegregatedUnderFederalAndOtherRegulationsTableTextBlock" xlink:href="ms-20231231.xsd#ms_ScheduleOfCashAndSecuritiesSegregatedUnderFederalAndOtherRegulationsTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_ScheduleOfCashAndSecuritiesSegregatedUnderFederalAndOtherRegulationsTableTextBlock" xlink:to="lab_ms_ScheduleOfCashAndSecuritiesSegregatedUnderFederalAndOtherRegulationsTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FairValueOptionTextBlock_ad47c91b-6bb9-47d1-a38d-5ed6ab0bf85d_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueOptionTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value Option </link:label>
<link:label id="lab_us-gaap_FairValueOptionTextBlock_label_en-US" xlink:label="lab_us-gaap_FairValueOptionTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value, Option [Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueOptionTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueOptionTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueOptionTextBlock" xlink:to="lab_us-gaap_FairValueOptionTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_ms_MeasurementInputEquityVolatilityMember_e985448f-ad5b-4e10-b81a-863b0dda8b9c_terseLabel_en-US" xlink:label="lab_ms_MeasurementInputEquityVolatilityMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Equity Volatility </link:label>
<link:label id="lab_ms_MeasurementInputEquityVolatilityMember_label_en-US" xlink:label="lab_ms_MeasurementInputEquityVolatilityMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Measurement Input, Equity Volatility [Member] </link:label>
<link:label id="lab_ms_MeasurementInputEquityVolatilityMember_documentation_en-US" xlink:label="lab_ms_MeasurementInputEquityVolatilityMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Measurement Input, Equity Volatility </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_MeasurementInputEquityVolatilityMember" xlink:href="ms-20231231.xsd#ms_MeasurementInputEquityVolatilityMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_MeasurementInputEquityVolatilityMember" xlink:to="lab_ms_MeasurementInputEquityVolatilityMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_EligibleUsEmployeesWithEligiblePayLessThanOrEqualToOneHundredThousandsDollarsMember_a4c7e3a0-3e7a-42ef-b4c1-3fc982f557b1_terseLabel_en-US" xlink:label="lab_ms_EligibleUsEmployeesWithEligiblePayLessThanOrEqualToOneHundredThousandsDollarsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Eligible U.S. Employees with Eligible Pay Less than or Equal to $100,000 </link:label>
<link:label id="lab_ms_EligibleUsEmployeesWithEligiblePayLessThanOrEqualToOneHundredThousandsDollarsMember_label_en-US" xlink:label="lab_ms_EligibleUsEmployeesWithEligiblePayLessThanOrEqualToOneHundredThousandsDollarsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Eligible U.S. Employees with Eligible Pay Less than or Equal to One Hundred Thousands Dollars [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_EligibleUsEmployeesWithEligiblePayLessThanOrEqualToOneHundredThousandsDollarsMember" xlink:href="ms-20231231.xsd#ms_EligibleUsEmployeesWithEligiblePayLessThanOrEqualToOneHundredThousandsDollarsMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_EligibleUsEmployeesWithEligiblePayLessThanOrEqualToOneHundredThousandsDollarsMember" xlink:to="lab_ms_EligibleUsEmployeesWithEligiblePayLessThanOrEqualToOneHundredThousandsDollarsMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_SingleNameCreditDefaultSwapMember_5e9822dc-eaa7-4d7a-baf0-4afedb0e0a28_terseLabel_en-US" xlink:label="lab_ms_SingleNameCreditDefaultSwapMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Single-name CDS </link:label>
<link:label id="lab_ms_SingleNameCreditDefaultSwapMember_16707a56-880a-4351-9d3d-1cdfcabf8dfc_verboseLabel_en-US" xlink:label="lab_ms_SingleNameCreditDefaultSwapMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Single name </link:label>
<link:label id="lab_ms_SingleNameCreditDefaultSwapMember_label_en-US" xlink:label="lab_ms_SingleNameCreditDefaultSwapMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Single Name Credit Default Swap [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_SingleNameCreditDefaultSwapMember" xlink:href="ms-20231231.xsd#ms_SingleNameCreditDefaultSwapMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_SingleNameCreditDefaultSwapMember" xlink:to="lab_ms_SingleNameCreditDefaultSwapMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerShareTableTextBlock_e969e373-b479-4205-ba32-6ae15037167a_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerShareTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Net Asset Value Measurements </link:label>
<link:label id="lab_us-gaap_FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerShareTableTextBlock_label_en-US" xlink:label="lab_us-gaap_FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerShareTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerShareTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerShareTableTextBlock"/>
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<link:label id="lab_us-gaap_OtherComprehensiveIncomeLossFinalizationOfPensionAndNonPensionPostretirementPlanValuationBeforeTax_a4ae135e-bf6b-4d86-81f5-d8598d780b22_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossFinalizationOfPensionAndNonPensionPostretirementPlanValuationBeforeTax" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Plan settlements and curtailments </link:label>
<link:label id="lab_us-gaap_OtherComprehensiveIncomeLossFinalizationOfPensionAndNonPensionPostretirementPlanValuationBeforeTax_label_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossFinalizationOfPensionAndNonPensionPostretirementPlanValuationBeforeTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other Comprehensive Income (Loss), Defined Benefit Plan, Settlement and Curtailment Gain (Loss), before Tax </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossFinalizationOfPensionAndNonPensionPostretirementPlanValuationBeforeTax" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OtherComprehensiveIncomeLossFinalizationOfPensionAndNonPensionPostretirementPlanValuationBeforeTax"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherComprehensiveIncomeLossFinalizationOfPensionAndNonPensionPostretirementPlanValuationBeforeTax" xlink:to="lab_us-gaap_OtherComprehensiveIncomeLossFinalizationOfPensionAndNonPensionPostretirementPlanValuationBeforeTax" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DerivativeGainLossOnDerivativeNet_2cf1119e-64a8-4c58-919e-85df9ff4c3e7_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeGainLossOnDerivativeNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Forward points excluded from hedge effectiveness testing—Recognized in Interest income </link:label>
<link:label id="lab_us-gaap_DerivativeGainLossOnDerivativeNet_8a48dbb6-2049-4819-8d60-55037fb44e7d_verboseLabel_en-US" xlink:label="lab_us-gaap_DerivativeGainLossOnDerivativeNet" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Gain (loss) on derivative recognized in Other Revenues </link:label>
<link:label id="lab_us-gaap_DerivativeGainLossOnDerivativeNet_label_en-US" xlink:label="lab_us-gaap_DerivativeGainLossOnDerivativeNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative, Gain (Loss) on Derivative, Net </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeGainLossOnDerivativeNet" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DerivativeGainLossOnDerivativeNet"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeGainLossOnDerivativeNet" xlink:to="lab_us-gaap_DerivativeGainLossOnDerivativeNet" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_TransferOfFinancialAssetsAccountedForAsSalesTableTextBlock_5e38a063-2951-4a30-a451-171066d48c53_terseLabel_en-US" xlink:label="lab_us-gaap_TransferOfFinancialAssetsAccountedForAsSalesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Schedule of Transfers of Assets with Continuing Involvement </link:label>
<link:label id="lab_us-gaap_TransferOfFinancialAssetsAccountedForAsSalesTableTextBlock_label_en-US" xlink:label="lab_us-gaap_TransferOfFinancialAssetsAccountedForAsSalesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Transfer of Financial Assets Accounted for as Sales [Table Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_TransferOfFinancialAssetsAccountedForAsSalesTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_TransferOfFinancialAssetsAccountedForAsSalesTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TransferOfFinancialAssetsAccountedForAsSalesTableTextBlock" xlink:to="lab_us-gaap_TransferOfFinancialAssetsAccountedForAsSalesTableTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1_39a88c2b-9b2c-4f71-b0d5-c42147069650_verboseLabel_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Realized and unrealized gains (losses) </link:label>
<link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1_label_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1" xlink:to="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsGross_f848329c-210d-4813-934f-6373f554683b_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsGross" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Amortizable assets - gross carrying amount </link:label>
<link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsGross_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsGross" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Finite-Lived Intangible Assets, Gross </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsGross" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FiniteLivedIntangibleAssetsGross"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsGross" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsGross" xlink:type="arc" order="1"/>
<link:label id="lab_ms_LongTermDebtRateTypeAxis_d338abb9-de31-433e-b9d3-476e819c25c5_terseLabel_en-US" xlink:label="lab_ms_LongTermDebtRateTypeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Long-term Debt, Rate Type [Axis] </link:label>
<link:label id="lab_ms_LongTermDebtRateTypeAxis_label_en-US" xlink:label="lab_ms_LongTermDebtRateTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Long-term Debt, Rate Type [Axis] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_LongTermDebtRateTypeAxis" xlink:href="ms-20231231.xsd#ms_LongTermDebtRateTypeAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_LongTermDebtRateTypeAxis" xlink:to="lab_ms_LongTermDebtRateTypeAxis" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent_c319a92e-c8d2-42c6-a93c-904ad9d1f775_netLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> OCI during the period </link:label>
<link:label id="lab_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent_label_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent"/>
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<link:label id="lab_us-gaap_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossBeforeTax_324676a4-556c-4290-a0b1-126225359f49_verboseLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossBeforeTax" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Amortization of net gains and losses  </link:label>
<link:label id="lab_us-gaap_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossBeforeTax_label_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossBeforeTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, before Tax </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossBeforeTax" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossBeforeTax"/>
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<link:label id="lab_ms_MinimumRegulatoryCapitalRatioAbstract_6b70835e-79fa-4baf-b252-169305772a2c_terseLabel_en-US" xlink:label="lab_ms_MinimumRegulatoryCapitalRatioAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Required Ratio </link:label>
<link:label id="lab_ms_MinimumRegulatoryCapitalRatioAbstract_label_en-US" xlink:label="lab_ms_MinimumRegulatoryCapitalRatioAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Minimum Regulatory Capital Ratio [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_MinimumRegulatoryCapitalRatioAbstract" xlink:href="ms-20231231.xsd#ms_MinimumRegulatoryCapitalRatioAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_MinimumRegulatoryCapitalRatioAbstract" xlink:to="lab_ms_MinimumRegulatoryCapitalRatioAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_CashAndCashEquivalentsLineItems_c3a9e177-4bdc-4a2a-b34b-a85e31f9d8ef_terseLabel_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Cash and Cash Equivalents [Line Items] </link:label>
<link:label id="lab_us-gaap_CashAndCashEquivalentsLineItems_label_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Cash and Cash Equivalents [Line Items] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashAndCashEquivalentsLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CashAndCashEquivalentsLineItems"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashAndCashEquivalentsLineItems" xlink:to="lab_us-gaap_CashAndCashEquivalentsLineItems" xlink:type="arc" order="1"/>
<link:label id="lab_dei_LegalEntityAxis_a43a4d0c-6c31-415d-966e-67ca31c04fa2_terseLabel_en-US" xlink:label="lab_dei_LegalEntityAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Legal Entity [Axis] </link:label>
<link:label id="lab_dei_LegalEntityAxis_label_en-US" xlink:label="lab_dei_LegalEntityAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Legal Entity [Axis] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_dei_LegalEntityAxis" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_LegalEntityAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_LegalEntityAxis" xlink:to="lab_dei_LegalEntityAxis" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FairValueHedgingMember_bb06a1f1-fbe7-44e8-b520-6930e6452c34_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueHedgingMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value Hedges </link:label>
<link:label id="lab_us-gaap_FairValueHedgingMember_label_en-US" xlink:label="lab_us-gaap_FairValueHedgingMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value Hedging [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueHedgingMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueHedgingMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueHedgingMember" xlink:to="lab_us-gaap_FairValueHedgingMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_TransactionTaxes_7ccb66ba-f0b1-48f3-820e-35a888b9ce9c_terseLabel_en-US" xlink:label="lab_ms_TransactionTaxes" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Transaction taxes </link:label>
<link:label id="lab_ms_TransactionTaxes_label_en-US" xlink:label="lab_ms_TransactionTaxes" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Transaction Taxes </link:label>
<link:label id="lab_ms_TransactionTaxes_documentation_en-US" xlink:label="lab_ms_TransactionTaxes" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Transaction Taxes </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_TransactionTaxes" xlink:href="ms-20231231.xsd#ms_TransactionTaxes"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_TransactionTaxes" xlink:to="lab_ms_TransactionTaxes" xlink:type="arc" order="1"/>
<link:label id="lab_ms_RightOfUseAssetsMember_87214d5d-61f0-4950-b65d-38c041e8ada6_terseLabel_en-US" xlink:label="lab_ms_RightOfUseAssetsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other assets—ROU assets5 </link:label>
<link:label id="lab_ms_RightOfUseAssetsMember_label_en-US" xlink:label="lab_ms_RightOfUseAssetsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Right-of-Use Assets [Member] </link:label>
<link:label id="lab_ms_RightOfUseAssetsMember_documentation_en-US" xlink:label="lab_ms_RightOfUseAssetsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Right-of-Use Assets </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_RightOfUseAssetsMember" xlink:href="ms-20231231.xsd#ms_RightOfUseAssetsMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_RightOfUseAssetsMember" xlink:to="lab_ms_RightOfUseAssetsMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_SeniorNotes_750fc7ba-eb3a-450e-8d56-e83577977a32_terseLabel_en-US" xlink:label="lab_us-gaap_SeniorNotes" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Senior </link:label>
<link:label id="lab_us-gaap_SeniorNotes_label_en-US" xlink:label="lab_us-gaap_SeniorNotes" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Senior Notes </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_SeniorNotes" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SeniorNotes"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SeniorNotes" xlink:to="lab_us-gaap_SeniorNotes" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_InterestIncomeExpenseNet_08acbbe3-56d9-444d-9fb4-48a784cb3b38_totalLabel_en-US" xlink:label="lab_us-gaap_InterestIncomeExpenseNet" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Net interest </link:label>
<link:label id="lab_us-gaap_InterestIncomeExpenseNet_label_en-US" xlink:label="lab_us-gaap_InterestIncomeExpenseNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Interest Income (Expense), Net </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestIncomeExpenseNet" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_InterestIncomeExpenseNet"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestIncomeExpenseNet" xlink:to="lab_us-gaap_InterestIncomeExpenseNet" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_AssetsFairValueDisclosureAbstract_806c9b08-9242-414e-b1ca-e2249e433ac4_verboseLabel_en-US" xlink:label="lab_us-gaap_AssetsFairValueDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Assets at fair value </link:label>
<link:label id="lab_us-gaap_AssetsFairValueDisclosureAbstract_label_en-US" xlink:label="lab_us-gaap_AssetsFairValueDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Assets, Fair Value Disclosure [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AssetsFairValueDisclosureAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AssetsFairValueDisclosureAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetsFairValueDisclosureAbstract" xlink:to="lab_us-gaap_AssetsFairValueDisclosureAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_SecuritiesSoldUnderAgreementsToRepurchaseNotSubjectToMasterNettingArrangement_21196c12-f01e-41e2-a73f-604460d54d1f_terseLabel_en-US" xlink:label="lab_us-gaap_SecuritiesSoldUnderAgreementsToRepurchaseNotSubjectToMasterNettingArrangement" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Securities sold under agreements to repurchase </link:label>
<link:label id="lab_us-gaap_SecuritiesSoldUnderAgreementsToRepurchaseNotSubjectToMasterNettingArrangement_label_en-US" xlink:label="lab_us-gaap_SecuritiesSoldUnderAgreementsToRepurchaseNotSubjectToMasterNettingArrangement" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Securities Sold under Agreements to Repurchase, Not Subject to Master Netting Arrangement </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_SecuritiesSoldUnderAgreementsToRepurchaseNotSubjectToMasterNettingArrangement" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SecuritiesSoldUnderAgreementsToRepurchaseNotSubjectToMasterNettingArrangement"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SecuritiesSoldUnderAgreementsToRepurchaseNotSubjectToMasterNettingArrangement" xlink:to="lab_us-gaap_SecuritiesSoldUnderAgreementsToRepurchaseNotSubjectToMasterNettingArrangement" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DeferredTaxLiabilities_c032ea4a-743f-46bd-8705-f6a1bb744395_totalLabel_en-US" xlink:label="lab_us-gaap_DeferredTaxLiabilities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Total deferred tax liabilities </link:label>
<link:label id="lab_us-gaap_DeferredTaxLiabilities_label_en-US" xlink:label="lab_us-gaap_DeferredTaxLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Deferred Tax Liabilities, Net </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxLiabilities" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DeferredTaxLiabilities"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredTaxLiabilities" xlink:to="lab_us-gaap_DeferredTaxLiabilities" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_61a257c8-566b-41fb-88f1-762f0f6d8194_terseLabel_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Diluted (in shares) </link:label>
<link:label id="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_483ce8e7-d288-4ce9-9390-22fd0ea0b7a8_totalLabel_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Weighted average common shares outstanding and common stock equivalents, diluted (in shares) </link:label>
<link:label id="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_label_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Weighted Average Number of Shares Outstanding, Diluted </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:to="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_NotDesignatedAsHedgingInstrumentEconomicHedgeMember_5d031bc9-9f47-49dc-b8a8-4d4ed5f03f17_terseLabel_en-US" xlink:label="lab_us-gaap_NotDesignatedAsHedgingInstrumentEconomicHedgeMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Economic hedges of loans </link:label>
<link:label id="lab_us-gaap_NotDesignatedAsHedgingInstrumentEconomicHedgeMember_label_en-US" xlink:label="lab_us-gaap_NotDesignatedAsHedgingInstrumentEconomicHedgeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Not Designated as Hedging Instrument, Economic Hedge [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_NotDesignatedAsHedgingInstrumentEconomicHedgeMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_NotDesignatedAsHedgingInstrumentEconomicHedgeMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NotDesignatedAsHedgingInstrumentEconomicHedgeMember" xlink:to="lab_us-gaap_NotDesignatedAsHedgingInstrumentEconomicHedgeMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_RetirementPlanSponsorLocationAxis_9816a5bc-487d-4c26-b4fe-2a744ce60b11_terseLabel_en-US" xlink:label="lab_us-gaap_RetirementPlanSponsorLocationAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Retirement Plan Sponsor Location [Axis] </link:label>
<link:label id="lab_us-gaap_RetirementPlanSponsorLocationAxis_label_en-US" xlink:label="lab_us-gaap_RetirementPlanSponsorLocationAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Retirement Plan Sponsor Location [Axis] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_RetirementPlanSponsorLocationAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_RetirementPlanSponsorLocationAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RetirementPlanSponsorLocationAxis" xlink:to="lab_us-gaap_RetirementPlanSponsorLocationAxis" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DepositsMember_eedd9f93-fa83-4d49-a354-36a2d5735a26_terseLabel_en-US" xlink:label="lab_us-gaap_DepositsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Deposits </link:label>
<link:label id="lab_us-gaap_DepositsMember_label_en-US" xlink:label="lab_us-gaap_DepositsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Deposits [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DepositsMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DepositsMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DepositsMember" xlink:to="lab_us-gaap_DepositsMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_InterestIncomeExpenseNonoperatingNet_8218d9a3-697b-46fd-8327-c09ba2d594da_negatedLabel_en-US" xlink:label="lab_us-gaap_InterestIncomeExpenseNonoperatingNet" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Recognized in income statement </link:label>
<link:label id="lab_us-gaap_InterestIncomeExpenseNonoperatingNet_label_en-US" xlink:label="lab_us-gaap_InterestIncomeExpenseNonoperatingNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Interest Income (Expense), Nonoperating, Net </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestIncomeExpenseNonoperatingNet" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_InterestIncomeExpenseNonoperatingNet"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestIncomeExpenseNonoperatingNet" xlink:to="lab_us-gaap_InterestIncomeExpenseNonoperatingNet" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_GoodwillWrittenOffRelatedToSaleOfBusinessUnit_399b0ab9-3393-4bb0-97ae-6895df73ef81_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_GoodwillWrittenOffRelatedToSaleOfBusinessUnit" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Disposals </link:label>
<link:label id="lab_us-gaap_GoodwillWrittenOffRelatedToSaleOfBusinessUnit_label_en-US" xlink:label="lab_us-gaap_GoodwillWrittenOffRelatedToSaleOfBusinessUnit" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Goodwill, Written off Related to Sale of Business Unit </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_GoodwillWrittenOffRelatedToSaleOfBusinessUnit" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_GoodwillWrittenOffRelatedToSaleOfBusinessUnit"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GoodwillWrittenOffRelatedToSaleOfBusinessUnit" xlink:to="lab_us-gaap_GoodwillWrittenOffRelatedToSaleOfBusinessUnit" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DebtSecuritiesAvailableForSaleRealizedLoss_0f23bce5-e021-4064-871f-9aa655bc4c7c_negatedLabel_en-US" xlink:label="lab_us-gaap_DebtSecuritiesAvailableForSaleRealizedLoss" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Gross realized (losses) </link:label>
<link:label id="lab_us-gaap_DebtSecuritiesAvailableForSaleRealizedLoss_label_en-US" xlink:label="lab_us-gaap_DebtSecuritiesAvailableForSaleRealizedLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt Securities, Available-for-Sale, Realized Loss </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtSecuritiesAvailableForSaleRealizedLoss" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DebtSecuritiesAvailableForSaleRealizedLoss"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtSecuritiesAvailableForSaleRealizedLoss" xlink:to="lab_us-gaap_DebtSecuritiesAvailableForSaleRealizedLoss" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ScheduleOfHeldToMaturitySecuritiesTable_5b402316-cedb-4b0a-b93a-a6931a978ee8_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfHeldToMaturitySecuritiesTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt Securities, Held-to-Maturity [Table] </link:label>
<link:label id="lab_us-gaap_ScheduleOfHeldToMaturitySecuritiesTable_label_en-US" xlink:label="lab_us-gaap_ScheduleOfHeldToMaturitySecuritiesTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt Securities, Held-to-Maturity [Table] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfHeldToMaturitySecuritiesTable" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfHeldToMaturitySecuritiesTable"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfHeldToMaturitySecuritiesTable" xlink:to="lab_us-gaap_ScheduleOfHeldToMaturitySecuritiesTable" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFour_905ce047-0f89-4294-a4b8-0f142286a352_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFour" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> 2027 </link:label>
<link:label id="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFour_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFour" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Defined Benefit Plan, Expected Future Benefit Payment, Year Four </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFour" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFour"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFour" xlink:to="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFour" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_Assets_00d645b7-8349-4bd9-81d6-65c6f8231609_totalLabel_en-US" xlink:label="lab_us-gaap_Assets" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Total assets </link:label>
<link:label id="lab_us-gaap_Assets_858f47da-6486-4723-81af-65b65f4f3e2f_netLabel_en-US" xlink:label="lab_us-gaap_Assets" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Carrying value of variable interests—Assets </link:label>
<link:label id="lab_us-gaap_Assets_f75f6740-f4c3-4566-bfd1-b88a3c827113_verboseLabel_en-US" xlink:label="lab_us-gaap_Assets" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt and Equity Interests </link:label>
<link:label id="lab_us-gaap_Assets_eeeb65f8-e168-46e3-8a1e-763308a65b39_terseLabel_en-US" xlink:label="lab_us-gaap_Assets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Assets </link:label>
<link:label id="lab_us-gaap_Assets_label_en-US" xlink:label="lab_us-gaap_Assets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Assets </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_Assets" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_Assets"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Assets" xlink:to="lab_us-gaap_Assets" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DerivativeLiabilityFairValueGrossLiabilityIncludingNotSubjectToMasterNettingArrangement_69ef9e23-eeb7-4df6-aa56-c45cb23abea6_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeLiabilityFairValueGrossLiabilityIncludingNotSubjectToMasterNettingArrangement" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Total gross derivatives </link:label>
<link:label id="lab_us-gaap_DerivativeLiabilityFairValueGrossLiabilityIncludingNotSubjectToMasterNettingArrangement_label_en-US" xlink:label="lab_us-gaap_DerivativeLiabilityFairValueGrossLiabilityIncludingNotSubjectToMasterNettingArrangement" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeLiabilityFairValueGrossLiabilityIncludingNotSubjectToMasterNettingArrangement" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DerivativeLiabilityFairValueGrossLiabilityIncludingNotSubjectToMasterNettingArrangement"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeLiabilityFairValueGrossLiabilityIncludingNotSubjectToMasterNettingArrangement" xlink:to="lab_us-gaap_DerivativeLiabilityFairValueGrossLiabilityIncludingNotSubjectToMasterNettingArrangement" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_EquipmentMember_43384f2c-342e-42dd-8843-f5bcca19b065_terseLabel_en-US" xlink:label="lab_us-gaap_EquipmentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Computer and communications equipment </link:label>
<link:label id="lab_us-gaap_EquipmentMember_label_en-US" xlink:label="lab_us-gaap_EquipmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Equipment [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_EquipmentMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_EquipmentMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquipmentMember" xlink:to="lab_us-gaap_EquipmentMember" xlink:type="arc" order="1"/>
<link:label id="lab_ms_IKBInternationalS.A.InLiquidationEtAl.V.MorganStanleyEtAl.Member_39bd6e13-cda6-4a03-94c6-7d123cc1d062_terseLabel_en-US" xlink:label="lab_ms_IKBInternationalS.A.InLiquidationEtAl.V.MorganStanleyEtAl.Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> IKB International S.A. in Liquidation, et al. v. Morgan Stanley, et al. </link:label>
<link:label id="lab_ms_IKBInternationalS.A.InLiquidationEtAl.V.MorganStanleyEtAl.Member_label_en-US" xlink:label="lab_ms_IKBInternationalS.A.InLiquidationEtAl.V.MorganStanleyEtAl.Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> IKB International S.A. in Liquidation, et al. v. Morgan Stanley, et al. [Member] </link:label>
<link:label id="lab_ms_IKBInternationalS.A.InLiquidationEtAl.V.MorganStanleyEtAl.Member_documentation_en-US" xlink:label="lab_ms_IKBInternationalS.A.InLiquidationEtAl.V.MorganStanleyEtAl.Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> IKB International S.A. in Liquidation, et al. v. Morgan Stanley, et al. </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_IKBInternationalS.A.InLiquidationEtAl.V.MorganStanleyEtAl.Member" xlink:href="ms-20231231.xsd#ms_IKBInternationalS.A.InLiquidationEtAl.V.MorganStanleyEtAl.Member"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_IKBInternationalS.A.InLiquidationEtAl.V.MorganStanleyEtAl.Member" xlink:to="lab_ms_IKBInternationalS.A.InLiquidationEtAl.V.MorganStanleyEtAl.Member" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_584149d4-06fb-413a-a36e-e1d3882c4cf5_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Year 5 </link:label>
<link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_label_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Long-Term Debt, Maturity, Year Five </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive" xlink:to="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_LaborAndRelatedExpense_65047334-d1da-42c2-abec-eea8145d6da4_terseLabel_en-US" xlink:label="lab_us-gaap_LaborAndRelatedExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Compensation and benefits </link:label>
<link:label id="lab_us-gaap_LaborAndRelatedExpense_label_en-US" xlink:label="lab_us-gaap_LaborAndRelatedExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Labor and Related Expense </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LaborAndRelatedExpense" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LaborAndRelatedExpense"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LaborAndRelatedExpense" xlink:to="lab_us-gaap_LaborAndRelatedExpense" xlink:type="arc" order="1"/>
<link:label id="lab_ms_MorganStanleyPrivateBankNationalAssociationMember_67b32852-ea37-4a8f-8650-24bdee6925ec_terseLabel_en-US" xlink:label="lab_ms_MorganStanleyPrivateBankNationalAssociationMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> MSPBNA </link:label>
<link:label id="lab_ms_MorganStanleyPrivateBankNationalAssociationMember_label_en-US" xlink:label="lab_ms_MorganStanleyPrivateBankNationalAssociationMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Morgan Stanley Private Bank, National Association [Member] </link:label>
<link:label id="lab_ms_MorganStanleyPrivateBankNationalAssociationMember_documentation_en-US" xlink:label="lab_ms_MorganStanleyPrivateBankNationalAssociationMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Morgan Stanley Private Bank, National Association </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_MorganStanleyPrivateBankNationalAssociationMember" xlink:href="ms-20231231.xsd#ms_MorganStanleyPrivateBankNationalAssociationMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_MorganStanleyPrivateBankNationalAssociationMember" xlink:to="lab_ms_MorganStanleyPrivateBankNationalAssociationMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_PensionPlansDefinedBenefitMember_2f9909bf-be31-4aec-8487-3cdeccac4eae_terseLabel_en-US" xlink:label="lab_us-gaap_PensionPlansDefinedBenefitMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Pension Plans </link:label>
<link:label id="lab_us-gaap_PensionPlansDefinedBenefitMember_label_en-US" xlink:label="lab_us-gaap_PensionPlansDefinedBenefitMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Pension Plan [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_PensionPlansDefinedBenefitMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PensionPlansDefinedBenefitMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PensionPlansDefinedBenefitMember" xlink:to="lab_us-gaap_PensionPlansDefinedBenefitMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_CashAndCashEquivalentsDisclosureTextBlock_7461e52a-b595-43ca-a513-2b3bb67d006a_terseLabel_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Cash and Cash Equivalents </link:label>
<link:label id="lab_us-gaap_CashAndCashEquivalentsDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Cash and Cash Equivalents Disclosure [Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashAndCashEquivalentsDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CashAndCashEquivalentsDisclosureTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashAndCashEquivalentsDisclosureTextBlock" xlink:to="lab_us-gaap_CashAndCashEquivalentsDisclosureTextBlock" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward_35766064-3083-4a54-a130-3eb591467d70_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Assets at Fair value </link:label>
<link:label id="lab_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward_label_en-US" xlink:label="lab_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward" xlink:to="lab_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_NotionalAmountOfDerivativesAbstract_25e4367a-da19-4f17-aad9-982d8a6195e8_terseLabel_en-US" xlink:label="lab_us-gaap_NotionalAmountOfDerivativesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivatives, Notional Amount </link:label>
<link:label id="lab_us-gaap_NotionalAmountOfDerivativesAbstract_label_en-US" xlink:label="lab_us-gaap_NotionalAmountOfDerivativesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Notional Disclosures [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_NotionalAmountOfDerivativesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_NotionalAmountOfDerivativesAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NotionalAmountOfDerivativesAbstract" xlink:to="lab_us-gaap_NotionalAmountOfDerivativesAbstract" xlink:type="arc" order="1"/>
<link:label id="lab_ms_DepositsNotSubjectToFDICInsurance_360738e6-5068-40e1-8ebf-b66d913f5a4e_terseLabel_en-US" xlink:label="lab_ms_DepositsNotSubjectToFDICInsurance" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Deposits not subject to FDIC insurance </link:label>
<link:label id="lab_ms_DepositsNotSubjectToFDICInsurance_label_en-US" xlink:label="lab_ms_DepositsNotSubjectToFDICInsurance" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Deposits not subject to FDIC insurance </link:label>
<link:label id="lab_ms_DepositsNotSubjectToFDICInsurance_documentation_en-US" xlink:label="lab_ms_DepositsNotSubjectToFDICInsurance" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Deposits not subject to FDIC insurance </link:label>
<link:loc xlink:type="locator" xlink:label="loc_ms_DepositsNotSubjectToFDICInsurance" xlink:href="ms-20231231.xsd#ms_DepositsNotSubjectToFDICInsurance"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_DepositsNotSubjectToFDICInsurance" xlink:to="lab_ms_DepositsNotSubjectToFDICInsurance" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_DerivativeAssetFairValueGrossLiability_4221c793-63cc-4acd-bb33-cb3b58df8be2_negatedLabel_en-US" xlink:label="lab_us-gaap_DerivativeAssetFairValueGrossLiability" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Amounts offset against counterparty netting </link:label>
<link:label id="lab_us-gaap_DerivativeAssetFairValueGrossLiability_label_en-US" xlink:label="lab_us-gaap_DerivativeAssetFairValueGrossLiability" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivative Asset, Subject to Master Netting Arrangement, Liability Offset </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeAssetFairValueGrossLiability" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DerivativeAssetFairValueGrossLiability"/>
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<link:label id="lab_us-gaap_ContractWithCustomerAssetNet_9730e95d-efc7-40d7-9d17-a369df55e1f2_terseLabel_en-US" xlink:label="lab_us-gaap_ContractWithCustomerAssetNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Customer and other receivables </link:label>
<link:label id="lab_us-gaap_ContractWithCustomerAssetNet_label_en-US" xlink:label="lab_us-gaap_ContractWithCustomerAssetNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Contract with Customer, Asset, after Allowance for Credit Loss </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ContractWithCustomerAssetNet" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ContractWithCustomerAssetNet"/>
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<link:label id="lab_us-gaap_DebtInstrumentLineItems_8bbe863c-50b4-4221-bed3-036b789e3322_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt Instrument [Line Items] </link:label>
<link:label id="lab_us-gaap_DebtInstrumentLineItems_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Debt Instrument [Line Items] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DebtInstrumentLineItems"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentLineItems" xlink:to="lab_us-gaap_DebtInstrumentLineItems" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_7af6c09a-0782-40e3-9929-ea169bc54c03_verboseLabel_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Basic (in shares) </link:label>
<link:label id="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_22278b05-60ea-47fc-ac24-2f0d588d4fb3_terseLabel_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Weighted average common shares outstanding (in shares) </link:label>
<link:label id="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_label_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Weighted Average Number of Shares Outstanding, Basic </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingBasic"/>
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<link:label id="lab_us-gaap_DefinedBenefitPlanChangeInFairValueOfPlanAssetsLevel3ReconciliationRollForward_8bdb46b3-b923-4fb1-9a48-1eda48e37ce4_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanChangeInFairValueOfPlanAssetsLevel3ReconciliationRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward] </link:label>
<link:label id="lab_us-gaap_DefinedBenefitPlanChangeInFairValueOfPlanAssetsLevel3ReconciliationRollForward_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanChangeInFairValueOfPlanAssetsLevel3ReconciliationRollForward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward] </link:label>
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<link:label id="lab_ms_OtherCountriesMember_d90de776-f7b3-4ccb-83cc-e1d17e3f7fda_terseLabel_en-US" xlink:label="lab_ms_OtherCountriesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other </link:label>
<link:label id="lab_ms_OtherCountriesMember_label_en-US" xlink:label="lab_ms_OtherCountriesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Other Countries [Member] </link:label>
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<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ms_OtherCountriesMember" xlink:to="lab_ms_OtherCountriesMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_RealEstateMember_2e143c68-a3f5-4a36-afad-675136d5558c_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstateMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Commercial and Residential real estate </link:label>
<link:label id="lab_us-gaap_RealEstateMember_label_en-US" xlink:label="lab_us-gaap_RealEstateMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Real Estate [Member] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_RealEstateMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_RealEstateMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateMember" xlink:to="lab_us-gaap_RealEstateMember" xlink:type="arc" order="1"/>
<link:label id="lab_us-gaap_ConcentrationRiskByBenchmarkAxis_5f0f1f1f-8aed-41f8-bbfd-ce102c3a9e24_terseLabel_en-US" xlink:label="lab_us-gaap_ConcentrationRiskByBenchmarkAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Concentration Risk Benchmark [Axis] </link:label>
<link:label id="lab_us-gaap_ConcentrationRiskByBenchmarkAxis_label_en-US" xlink:label="lab_us-gaap_ConcentrationRiskByBenchmarkAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Concentration Risk Benchmark [Axis] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ConcentrationRiskByBenchmarkAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ConcentrationRiskByBenchmarkAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ConcentrationRiskByBenchmarkAxis" xlink:to="lab_us-gaap_ConcentrationRiskByBenchmarkAxis" xlink:type="arc" order="1"/>
<link:label id="lab_ms_EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostWillBeRecognizedAbsentEstimatedOrActualForfeituresOrCancellationsWithinNextTwelveMonths_b24fb111-a9c5-41be-8d72-5913eb2c3fa3_terseLabel_en-US" xlink:label="lab_ms_EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostWillBeRecognizedAbsentEstimatedOrActualForfeituresOrCancellationsWithinNextTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> 2024 </link:label>
<link:label id="lab_ms_EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostWillBeRecognizedAbsentEstimatedOrActualForfeituresOrCancellationsWithinNextTwelveMonths_label_en-US" xlink:label="lab_ms_EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostWillBeRecognizedAbsentEstimatedOrActualForfeituresOrCancellationsWithinNextTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Will Be Recognized Absent Estimated or Actual Forfeitures or Cancellations, within Next Twelve Months </link:label>
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<link:loc xlink:type="locator" xlink:label="loc_ms_EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostWillBeRecognizedAbsentEstimatedOrActualForfeituresOrCancellationsWithinNextTwelveMonths" xlink:href="ms-20231231.xsd#ms_EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostWillBeRecognizedAbsentEstimatedOrActualForfeituresOrCancellationsWithinNextTwelveMonths"/>
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<link:label id="lab_us-gaap_SecuritiesReserveDepositRequiredAndMade_2d431830-8015-4841-bfaf-77ba5b7e4990_terseLabel_en-US" xlink:label="lab_us-gaap_SecuritiesReserveDepositRequiredAndMade" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Segregated securities </link:label>
<link:label id="lab_us-gaap_SecuritiesReserveDepositRequiredAndMade_label_en-US" xlink:label="lab_us-gaap_SecuritiesReserveDepositRequiredAndMade" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Securities Reserve Deposit Required and Made </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_SecuritiesReserveDepositRequiredAndMade" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SecuritiesReserveDepositRequiredAndMade"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SecuritiesReserveDepositRequiredAndMade" xlink:to="lab_us-gaap_SecuritiesReserveDepositRequiredAndMade" xlink:type="arc" order="1"/>
<link:label id="lab_ms_ProportionOfInvestmentBankingRevenueRecognizedUnderNewAccountingPronouncement_82a8a859-a70d-45ad-878f-efa7b4a27355_terseLabel_en-US" xlink:label="lab_ms_ProportionOfInvestmentBankingRevenueRecognizedUnderNewAccountingPronouncement" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Firm Investment banking revenues from contracts with customers </link:label>
<link:label id="lab_ms_ProportionOfInvestmentBankingRevenueRecognizedUnderNewAccountingPronouncement_label_en-US" xlink:label="lab_ms_ProportionOfInvestmentBankingRevenueRecognizedUnderNewAccountingPronouncement" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Proportion of Investment Banking Revenue Recognized under New Accounting Pronouncement </link:label>
<link:label id="lab_ms_ProportionOfInvestmentBankingRevenueRecognizedUnderNewAccountingPronouncement_documentation_en-US" xlink:label="lab_ms_ProportionOfInvestmentBankingRevenueRecognizedUnderNewAccountingPronouncement" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Proportion of investment banking revenue determined under new accounting pronouncement. </link:label>
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<link:label id="lab_us-gaap_DerivativesOffsettingFairValueAmountsPolicy_6abb4757-1610-48ca-9772-73f2e31ca8b2_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativesOffsettingFairValueAmountsPolicy" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Offsetting of Derivative Instruments </link:label>
<link:label id="lab_us-gaap_DerivativesOffsettingFairValueAmountsPolicy_label_en-US" xlink:label="lab_us-gaap_DerivativesOffsettingFairValueAmountsPolicy" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Derivatives, Offsetting Fair Value Amounts, Policy [Policy Text Block] </link:label>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativesOffsettingFairValueAmountsPolicy" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DerivativesOffsettingFairValueAmountsPolicy"/>
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<link:label id="lab_srt_ScheduleOfCondensedFinancialStatementsTable_52d7a50f-51b3-41dc-82fe-e8329c7a029c_terseLabel_en-US" xlink:label="lab_srt_ScheduleOfCondensedFinancialStatementsTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Condensed Financial Statements [Table] </link:label>
<link:label id="lab_srt_ScheduleOfCondensedFinancialStatementsTable_label_en-US" xlink:label="lab_srt_ScheduleOfCondensedFinancialStatementsTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Condensed Financial Statements [Table] </link:label>
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<link:label id="lab_us-gaap_AccumulatedNetInvestmentGainLossAttributableToNoncontrollingInterestMember_0cf2d544-2227-4e51-bd70-b56f99dc3f21_terseLabel_en-US" xlink:label="lab_us-gaap_AccumulatedNetInvestmentGainLossAttributableToNoncontrollingInterestMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"> Change in Net Unrealized Gains (Losses) on AFS Securities Attributable to Noncontrolling Interest </link:label>
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2 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 4/12/24  Morgan Stanley                    424B2                  1:796K                                   Davis Polk & … LLP 01/FA
 2/26/24  Morgan Stanley                    POS AM                 5:1M                                     Davis Polk & … LLP 01/FA


49 Previous Filings that this Filing References

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

12/08/23  Morgan Stanley                    8-K:5,9    12/07/23   12:497K                                   Davis Polk & … LLP 01/FA
11/03/23  Morgan Stanley                    10-Q        9/30/23  151:34M
 2/24/23  Morgan Stanley                    10-K       12/31/22  227:50M
 8/05/22  Morgan Stanley                    10-Q        6/30/22  147:40M
 8/01/22  Morgan Stanley                    8-A12B                 4:286K                                   Davis Polk & … LLP 01/FA
 2/24/22  Morgan Stanley                    10-K       12/31/21  225:51M
10/22/21  Morgan Stanley                    8-A12B                 4:271K                                   Davis Polk & … LLP 01/FA
 8/02/21  Morgan Stanley                    10-Q        6/30/21  147:38M
 2/26/21  Morgan Stanley                    10-K       12/31/20  225:50M
11/03/20  Morgan Stanley                    10-Q        9/30/20  144:41M
10/02/20  Morgan Stanley                    8-K:2,3,5,710/02/20   17:818K                                   Davis Polk & … LLP 01/FA
 2/27/20  Morgan Stanley                    10-K       12/31/19  214:53M
11/22/19  Morgan Stanley                    8-A12B                 4:257K                                   Davis Polk & … LLP 01/FA
 2/26/19  Morgan Stanley                    10-K       12/31/18  188:49M                                    Donnelley … Solutions/FA
 5/04/18  Morgan Stanley                    10-Q        3/31/18  131:34M                                    Donnelley … Solutions/FA
 1/30/17  Morgan Stanley                    8-A12B                 4:313K                                   Davis Polk & … LLP 01/FA
 1/11/17  Morgan Stanley                    8-K:8,9     1/11/17   13:2.6M                                   Davis Polk & … LLP 01/FA
 5/04/16  Morgan Stanley                    10-Q        3/31/16  123:34M                                    Donnelley … Solutions/FA
 5/04/15  Morgan Stanley                    10-Q        3/31/15  123:45M                                    Donnelley … Solutions/FA
11/04/14  Morgan Stanley                    10-Q        9/30/14  122:46M                                    Donnelley … Solutions/FA
 9/17/14  Morgan Stanley                    8-A12B                 4:420K                                   Davis Polk & … LLP 01/FA
 5/06/14  Morgan Stanley                    10-Q        3/31/14  126:40M                                    Donnelley … Solutions/FA
 2/25/14  Morgan Stanley                    10-K       12/31/13  174:59M                                    Donnelley … Solutions/FA
12/09/13  Morgan Stanley                    8-A12B                 4:406K                                   Davis Polk & … LLP 01/FA
11/04/13  Morgan Stanley                    10-Q        9/30/13  127:48M                                    Donnelley … Solutions/FA
 9/27/13  Morgan Stanley                    8-A12B                 4:422K                                   Davis Polk & … LLP 01/FA
 8/06/12  Morgan Stanley                    10-Q        6/30/12  120:39M                                    Donnelley … Solutions/FA
 2/27/12  Morgan Stanley                    10-K       12/31/11  194:48M                                    Donnelley … Solutions/FA
11/07/11  Morgan Stanley                    10-Q        9/30/11  121:32M                                    Donnelley … Solutions/FA
 8/08/11  Morgan Stanley                    10-Q        6/30/11  124:32M                                    Donnelley … Solutions/FA
 6/30/11  Morgan Stanley                    8-K:1,9     6/30/11    2:230K                                   Davis Polk & … LLP 01/FA
 2/28/11  Morgan Stanley                    10-K       12/31/10  194:59M                                    Donnelley … Solutions/FA
 5/07/10  Morgan Stanley                    10-Q        3/31/10   51:8.5M                                   Donnelley … Solutions/FA
 2/26/10  Morgan Stanley                    10-K       12/31/09   60:14M                                    Donnelley … Solutions/FA
 8/07/09  Morgan Stanley                    10-Q        6/30/09   33:9.1M                                   Donnelley … Solutions/FA
 5/07/09  Morgan Stanley                    10-Q        3/31/09   17:3.3M                                   Donnelley … Solutions/FA
12/05/08  Morgan Stanley                    8-K:8,9    12/01/08    4:310K                                   Davis Polk & … LLP 01/FA
10/09/08  Morgan Stanley                    10-Q        8/31/08   11:2.2M                                   Donnelley … Solutions/FA
 9/02/08  Morgan Stanley                    8-K:8,9     8/29/08    2:368K                                   Davis Polk & … LLP 01/FA
 1/29/08  Morgan Stanley                    10-K       11/30/07   20:4.1M                                   Donnelley … Solutions/FA
 1/10/08  Morgan Stanley                    8-K:8,9     1/04/08    8:1.5M                                   Davis Polk & … LLP 01/FA
10/26/07  Morgan Stanley                    S-8        10/26/07    4:385K                                   Shearman & Sterling LLP
10/12/06  Morgan Stanley                    8-K:8,9    10/12/06    6:1M                                     Davis Polk & … LLP 01/FA
 7/07/06  Morgan Stanley                    10-Q        5/31/06   12:2.2M                                   Donnelley … Solutions/FA
 7/05/06  Morgan Stanley                    8-A12B                 4:240K                                   Davis Polk & … LLP 01/FA
11/22/05  Morgan Stanley                    8-K:1,9    11/22/05    2:18K                                    Sidley Austin LLP/FA
11/10/04  Morgan Stanley Capital Trust VI   S-3/A                 40:3.4M                                   Davis Polk & … LLP 01/FA
 5/04/99  Morgan Stanley                    S-3/A                 39:2.7M                                   Davis Polk & … LLP 01/FA
 2/27/97  Morgan Stanley Group Inc./DE      10-K405    11/30/96   14:484K                                   Donnelley … Solutions/FA
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