Morgan Stanley
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| Morgan Stanley | |
| |
| Founded | 1935 |
|---|---|
| Headquarters | New York, NY, USA |
| Key People | James Gorman, CEO; Michael Pettrick/Jerker Johansson, co-heads, Institutional Securities Sales and Trading; Neal Shear, chrmn, Commodities |
| Employees | 45,000 worldwide |
| Products | Financial services |
| Website | http://www.morganstanley.com/ |
Morgan Stanley (NYSE: MS) is a global financial services firm that provides investment banking, securities, investment management and wealth management services to corporations, governments, institutions and individuals. Morgan Stanley has more than 600 offices in 33 countries.
History[edit]
- Though Morgan Stanley was founded in New York on September 5, 1935,[1] its roots go further back. J.P. Morgan founder J. Pierpont Morgan in the early part of the 20th century acted as an unofficial central banker helping to reorganize U.S. railroads and pave the way for the creation of companies like General Electric and U.S. Steel. In September 1935, Morgan Stanley was born when Henry S. Morgan and Harold Stanley of J. P. Morgan & Co., along with others from J.P. Morgan & Co, broke from the company. This split of the commercial and investment banks came as a result of the Glass-Steagall Act. Within its first year, Morgan Stanley achieved 24% of market share among public offerings. It joined the New York Stock Exchange in 1942.
- In 1964, Morgan Stanley created the first viable computer model for financial analysis.
- In 1986, Morgan Stanley Group, Inc., became publicly listed.
- In 1996, Morgan Stanley acquired mutual fund company Van Kampen American Capital.
- On Feb. 5, 1997, the company merged with Dean Witter, and Discover & Co. (a.k.a. Dean Witter Reynolds) the spun-off financial services business of Sears Roebuck. In 2001 the Dean Witter name was dropped and the firm became Morgan Stanley.
- Co-President Zoe Cruz retires from the firm after 25 years of service to Morgan Stanley.[2]
- On Dec. 19, 2006, after reporting 4th quarter earnings, Morgan Stanley announced the spinoff of its Discover Card unit.
- On Dec. 19, 2007, Morgan Stanley reported a $9.4-billion writedown from bad investments in mortgage-related debt, leading it to take a $5 billion infusion from an arm of the Chinese government in exchange for securities that would be convertible to 10% of its shares. The writedown, nearly triple what Morgan Stanley warned of in November, pushed the investment house to the first quarterly loss in its 73-year history.[3][4]
- On Nov. 16, 2011, the SEC filed formal charges against Morgan Stanley Investment Management (MSIM) for violating securities laws in a bad fee arrangement.
- In June of 2013, Morgan Stanley completed the purchase of Citigroup's 35 percent stake in the two firms' Smith Barney brokerage unit, capping a deal, struck in 2009, to combine Smith Barney with Morgan Stanley's Dean Witter brokerage unit. The combined brokerage group operates under the nameMorgan Stanley Wealth Management. [5]
- In February of 2022, the SEC opened a probe into Morgan Stanley's block trading practices and whether they tipped off hedge fund clients before large share sales. Others included in the probe are Goldman Sachs and several hedge funds.[6]
Products and Services[edit]
- Wealth Management, including wealth planning, investment strategies and private wealth management
- Institutional Services, including trading, investment banking, investment management, prime brokerage, research and consulting
Key People[edit]
- James P. Gorman, Chairman and CEO
- Mark Eichorn, Global Co-Head of Investment Banking
- Greg Fleming, President of Morgan Stanley Wealth Management, President of Morgan Stanley Investment Management
- Colm Kelleher, President of Institutional Securities, CEO of Morgan Stanley International
- Thomas Nides, Vice Chairman
Registration[edit]
- MORGAN STANLEY & CO INCORPORATED - NFA ID: 0003045
References[edit]
- ↑ "Morgan Stanley Company History”. Morgan Stanley.
- ↑ Walid Chammah and James Gorman Named Co-Presidents of Morgan Stanley. Morgan Stanley.
- ↑ "Morgan Stanley Posts Loss After $9.4B 4th-Qtr Writedown, Gets $5B Investment From China”. Yahoo!.
- ↑ "Morgan Stanley”. Google Finance.
- ↑ Morgan Stanley Completes Purchase of Smith Barney Venture. Bloomberg.
- ↑ Regulators Probe Block Trading at Morgan Stanley, Goldman, Other Wall Street Firms. The Wall Street Journal.