fbpx
Wikipedia

Morgan Stanley

May 12, 2023

Morgan Stanley is an American multinational investment bank and financial services company headquartered at 1585 Broadway in Midtown Manhattan, New York City. With offices in 41 countries and more than 75,000 employees, the firm's clients include corporations, governments, institutions, and individuals.[2] Morgan Stanley ranked No. 61 in the 2021 Fortune 500 list of the largest United States corporations by total revenue.[4]

Morgan Stanley
TypePublic
IndustryFinancial services
Founded
Founder
HeadquartersMorgan Stanley Building
New York City, New York, U.S.
Area served
International service
Key people
James P. Gorman
(Chairman & CEO)
Ted Pick
(Co-President)
Andy Saperstein
(Co-President)
Jonathan Pruzan
(Chief Operating Officer)
Sharon Yeshaya
(CFO)
ProductsInvestment banking, Sales and trading, Commodities, Prime brokerage, Wealth management, Investment management
Revenue US$53.7 billion (2022)
US$14.1 billion (2022)
US$11.1 billion (2022)
AUM US$1.31 trillion (2022)
Total assets US$1.18 trillion (2022)
Total equity US$101 billion (2022)
OwnerMUFG (21.6%)[1]
Number of employees
 82,427 (2022)
Subsidiaries
Capital ratio15.3% (2022)
Websitemorganstanley.com
Footnotes / references
[2][3]

The original Morgan Stanley, formed by J.P. Morgan & Co. partners Henry Sturgis Morgan (a grandson of J.P. Morgan), Harold Stanley, and others, came into existence on September 16, 1935, in response to the Glass–Steagall Act, which required the splitting of American commercial and investment banking businesses.[5] In its first year, the company operated with a 24% market share (US$1.1 billion) in public offerings and private placements.

The current Morgan Stanley is the result of the merger of the original Morgan Stanley with Dean Witter Discover & Co. in 1997.[5] Dean Witter's Chairman and CEO, Philip J. Purcell, became the Chairman and CEO of the newly merged "Morgan Stanley Dean Witter Discover & Co."[6][7] The new firm changed its name back to "Morgan Stanley" in 2001.[8][9][10] The main areas of business for the firm today are institutional securities, wealth management and investment management. The bank is considered systemically important by the Financial Stability Board.

Overview

Morgan Stanley is a financial services corporation that, through its affiliates and subsidiaries, advises, and originates, trades, manages, and distributes capital for institutions, governments, and individuals. The company operates in three business segments: Institutional Securities, Wealth Management, and Investment Management.[2]

History

See also: JPMorgan Chase and J.P. Morgan & Co.

The original Morgan Stanley (1935–1997)

Morgan Stanley traces its roots to J.P. Morgan & Co. Following the Glass–Steagall Act, it was no longer possible for a corporation to have investment banking and commercial banking businesses under a single holding entity.[11][12] J.P. Morgan & Co. chose the commercial banking business over the investment banking business. As a result, some of the employees of J.P. Morgan & Co., most notably Henry S. Morgan and Harold Stanley, left J.P. Morgan & Co. and joined others from the Drexel partners to form Morgan Stanley.[12] The firm formally opened its doors for business on September 16, 1935, at 2 Wall Street, New York City, just down the street from J.P Morgan.[13] The firm was involved with the distribution of 1938 US$100 million of debentures for the United States Steel Corporation as the lead underwriter.[14] The firm also obtained the distinction of being the lead syndicate in the 1939 U.S. rail financing.[citation needed] The firm went through a reorganization in 1941 to allow for more activity in its securities business.[citation needed]

The firm was led by Perry Hall, the last founder to lead Morgan Stanley, from 1951 until 1961.[15] During this period, the firm co-managed the World Bank's triple-A-rated bonds offering of 1952,[16] as well as coming up with General Motors' US$300 million debt issue,[citation needed] US$231 million IBM stock offering,[citation needed] and the US$250 million AT&T's debt offering.[citation needed]

Morgan Stanley credits itself with having created the first viable computer model for financial analysis in 1962, thereby starting a new trend in the field of financial analysis. Future president and chairman Dick Fisher contributed to the computer model as a young employee, learning the FORTRAN and COBOL programming languages at IBM.[17] In 1967, it established the Morgan & Cie, International in Paris in an attempt to enter the European securities market.[18] The firm acquired Brooks, Harvey & Co., Inc. in 1967 and established a presence in the real estate business.[19] The sales and trading business is believed to be the brainchild of Bob Baldwin.[20]

In 1996, Morgan Stanley acquired Van Kampen American Capital.[21]

Morgan Stanley after the merger (1997–present)

 
Current Morgan Stanley Logo 2022
 
Historical logo used by Morgan Stanley in the early 2000s

On February 5, 1997, the company merged with Dean Witter Discover & Co., the spun-off financial services business of Sears Roebuck.[22] Dean Witter's Chairman and CEO, Philip J. Purcell, continued to hold the same roles in the newly merged "Morgan Stanley Dean Witter Discover & Co." Morgan Stanley’s president John J. Mack became the firm’s president and chief operating officer.[23] In 1998, the name of the firm was changed to "Morgan Stanley Dean Witter & Co."[24] Originally, the name was chosen to be the combination of the two predecessor companies in order to avoid tension between the two firms.[9] Eventually, in 2001 "Dean Witter" was further dropped and the name became "Morgan Stanley" for unrevealed reasons.[9][10] The merged firm began expanding overseas operations: in 1999, Mack set up a joint venture in India with local partner JM Financial.[25]

Morgan Stanley had offices located on 35 floors across buildings 1, 2, and 5 of the World Trade Center, and was the largest tenant of the WTC complex. Most of these offices had been inherited from Dean Witter which had occupied the space since the mid-1980s.[citation needed] The firm lost 13 employees during the September 11 attacks in 2001[26] (Thomas F. Swift, Wesley Mercer, Jennifer de Jesus, Joseph DiPilato, Nolbert Salomon, Godwin Forde, Steve R. Strauss, Lindsay C. Herkness, Albert Joseph, Jorge Velazquez, Titus Davidson, Charles Laurencin and Security Director Rick Rescorla) in the towers, while 2,687 were successfully evacuated by Rick Rescorla.[27][28] The surviving employees moved to temporary headquarters in the vicinity. In 2005 Morgan Stanley moved 2,300 of its employees back to lower Manhattan, at that time the largest such move.[29]

 
Morgan Stanley Children's Hospital of New York-Presbyterian is the only stand-alone pediatric hospital in New York City and is part of New York-Presbyterian Hospital.

In 2003, New York–Presbyterian Hospital named the Morgan Stanley Children's Hospital in recognition of the firm's sponsorship of the hospital, which largely funded its construction through philanthropy.[30] The initiative began under CEO Philip J. Purcell and was completed under John Mack. Employees at the firm have been involved with the hospital since the 1990s and personally donated to the construction of the current child-friendly building, which opened in November 2003.[31][32]

The company found itself in the midst of a management crisis starting in March 2005[33] that resulted in a loss of the firm's staff.[34] Purcell resigned as CEO of Morgan Stanley in June 2005 when a highly public campaign by former Morgan Stanley partners[35][36] threatened to damage the firm and challenged his refusal to aggressively increase leverage, increase risk, enter the sub-prime mortgage business and make expensive acquisitions; the same strategies that forced Morgan Stanley into massive write-downs, related to the subprime mortgage crisis, by 2007.[37]

On December 19, 2006, Morgan Stanley announced the spin-off of its Discover Card unit.[38] The bank completed the spinoff of Discover Financial on June 30, 2007.[39][citation needed]

In February 2007, Morgan Stanley announced the end of its Indian joint venture: the bank acquired its local partner's stake in the institutional brokerage business, and sold its own stake in the other businesses.[40][41] The bank then set up a wholly-owned subsidiary; the country head of Investment Management, Narayan Ramachandran, became CEO of the new subsidiary. Aisha de Sequeira, a Managing Director in the Mergers and Acquisitions group, was made Head of Investment Banking.[42]

In order to cope with the write-downs during the subprime mortgage crisis, Morgan Stanley announced on December 19, 2007, that it would receive a US$5 billion capital infusion from the China Investment Corporation in exchange for securities that would be convertible to 9.9% of its shares in 2010.[43][44]

The bank's Process Driven Trading unit was amongst several on Wall Street caught in a short squeeze, reportedly losing nearly $300 million in one day. The bubble's subsequent collapse was considered to be a central feature of the financial crisis of 2007–2010.[45]

The bank was contracted by the United States Treasury in August 2008 to advise the government on potential rescue strategies for Fannie Mae and Freddie Mac.[46] Within days, Morgan Stanley itself was at risk of failure, with rapidly changing prospects, regulatory model and ownership stakes over the course of four weeks from mid-September to mid-October 2008.

The bank Morgan Stanley was reported to have lost over 80% of its market value between 2007 and 2008 during the financial crisis.[47] On September 17, 2008, the British evening-news analysis program Newsnight reported that Morgan Stanley was facing difficulties after a 42% slide in its share price in two days. CEO John J. Mack wrote in a memo to staff "we're in the midst of a market controlled by fear and rumours and short-sellers are driving our stock down." By September 19, 2008, the share price had slid 57% in four days, and the company was said to have explored merger possibilities with CITIC, Wachovia, HSBC, Standard Chartered, Banco Santander and Nomura.[48] At one point, Hank Paulson offered Morgan Stanley to JPMorgan Chase at no cost, but JPMorgan's Jamie Dimon refused the offer.[49]

Morgan Stanley and Goldman Sachs, the last two major investment banks in the US, both announced on September 22, 2008, that they would become traditional bank holding companies regulated by the Federal Reserve.[50] The Federal Reserve's approval of their bid to become banks ended the ascendancy of securities firms, 75 years after Congress separated them from deposit-taking lenders, and capped weeks of chaos that sent Lehman Brothers Holdings Inc. into bankruptcy and led to the rushed sale of Merrill Lynch & Co. to Bank of America Corp.[51]

MUFG Bank, Japan's largest bank, invested $9 billion in a direct purchase of a 21% ownership stake in Morgan Stanley on September 29, 2008.[52] The payment from MUFG was supposed to be wired electronically; however, because it needed to be made on an emergency basis on Columbus Day when banks were closed in the US, MUFG cut a US$9 billion physical check, the largest amount written via physical check at the time.[53][54] The physical check was accepted by Robert A. Kindler, Global Head of Mergers and Acquisitions and Vice Chairman of Morgan Stanley, at the offices of Wachtell Lipton.[55] Concerns over the completion of the Mitsubishi deal during the October 2008 stock market volatility caused a dramatic fall in Morgan Stanley's stock price to levels last seen in 1994. It recovered once Mitsubishi UFJ's 21% stake in Morgan Stanley was completed on October 14, 2008.[56][57][58][59]

Morgan Stanley borrowed $107.3 billion from the Fed during the 2008 crisis, the most of any bank, according to data compiled by Bloomberg News Service and published August 22, 2011.[60]

In 2009, Morgan Stanley purchased Smith Barney from Citigroup and the new broker-dealer operates under the name Morgan Stanley Smith Barney, the largest wealth management business in the world.

In November 2013, Morgan Stanley announced that it would invest $1 billion to help improve affordable housing as part of a wider push to encourage investment in efforts that aid economic, social and environmental sustainability.[61]

In July 2014, Morgan Stanley's Asian private equity arm announced it had raised around $1.7 billion for its fourth fund in the area.[62]

In December 2015, it was reported that Morgan Stanley would be cutting around 25 percent of its fixed income jobs before month end.[63] In January 2016, the company reported that it had offices in "more than" 43 countries.[64]

In October 2020, the company completed its acquisition of E*Trade, a deal announced in February 2020 for $13 billion, the biggest acquisition by a U.S. bank since the global financial crisis.[65][66]

In March 2021, Morgan Stanley completed its acquisition of Eaton Vance, a deal announced in October 2020. With the addition of Eaton Vance, Morgan Stanley now had $5.4 trillion of client assets across its Wealth Management and Investment Management segments.[67]

The firm conducted layoffs in December 2022,[68][69] and Bloomberg announced the firm expected more layoffs in mid-2023.[70]

On May 2, 2023, an individual familiar with the matter reported that Morgan Stanley has outlined its intention to reduce approximately 3,000 positions by the end of June. The projected reduction constitutes roughly 5 percent of the bank's overall workforce, with financial advisors and support staff exempted from these staff cuts.[71]

Organization

The company's 3 divisions are as follows:

Institutional Securities Group

 
Offices of Morgan Stanley at the International Financial Services District in Glasgow, Scotland in 2018

Morgan Stanley's Institutional Securities is the most profitable business segment. This business segment provides institutions with investment banking services such as capital raising and financial advisory services such as mergers and acquisitions advisory, restructurings, real estate and project finance, and corporate lending. The segment also encompasses the Equities and the Fixed Income divisions of the firm; trading is anticipated to maintain its position as the "engine room" of the company.[72] Among the major U.S. banks, Morgan Stanley sources the highest portion of revenues from fixed-income underwriting, which was reported at 6.0% of total revenue in FY12.[73]

Wealth Management

The Global Wealth Management Group provides stockbrokerage and investment advisory services. This segment provides financial and wealth planning services to its clients, who are primarily high-net-worth individuals.

On January 13, 2009, the Global Wealth Management Group was merged with Citi's Smith Barney to form Morgan Stanley Smith Barney. Morgan Stanley owned 51% of the entity, and Citi held 49%.[74] On May 31, 2012, Morgan Stanley exercised its option to purchase an additional 14% of the joint venture from Citi.[75] In June 2013, Morgan Stanley stated it had secured all regulatory approvals to buy Citigroup's remaining 35% stake in Smith Barney and would proceed to finalize the deal.[76]

In February 2019, the company announced the acquisition of Solium Capital, a manager of employee stock plans, for $900 million.[77]

In October 2020, the company completed its acquisition of E*Trade, a deal announced in February 2020 for $13 billion, the biggest acquisition by a U.S. bank since the global financial crisis.[65][66]

Investment Management

Investment Management provides asset management products and services in equity, fixed income, alternative investments, real estate investment, and private equity to institutional and retail clients through third-party retail distribution channels, intermediaries and Morgan Stanley's institutional distribution channel. Morgan Stanley's asset management activities were principally conducted under the Morgan Stanley and Van Kampen brands until 2009.

On October 19, 2009, Morgan Stanley announced that it would sell Van Kampen to Invesco for $1.5 billion, but would retain the Morgan Stanley brand.[78] It provides asset management products and services to institutional investors worldwide, including pension plans, corporations, private funds, non-profit organizations, foundations, endowments, governmental agencies, insurance companies and banks.

On September 29, 2013, Morgan Stanley announced a partnership with Longchamp Asset Management, a French-based asset manager that specializes in the distribution of UCITS hedge funds, and La Française AM, a multi-specialist asset manager with a 10-year track record in alternative investments.[79]

In March 2018, Morgan Stanley acquired Mesa West, a leading U.S. commercial real estate credit platform, adding to its existing investment strategies and product offerings across real assets and private credit.[80]

In March 2021, Morgan Stanley completed its acquisition of Eaton Vance, a deal announced in October 2020. With the addition of Eaton Vance, Morgan Stanley now had $5.4 trillion of client assets across its Wealth Management and Investment Management segments.[67]

Awards and honors

  • In 2020 Morgan Stanley was named IFR's Bank of the Year,[81] and in 2021 Morgan Stanley was named Euromoney's best investment bank in the world.[82]
  • Fast Company named Morgan Stanley in its list of Best Workplaces for Innovators in 2020 and 2021.[83]
  • Great Place to Work Institute Japan in 2007 ranked Morgan Stanley as the second best corporation to work in Japan, based on the opinions of the employees and the corporate culture.[84]
  • The Times listed Morgan Stanley 5th in its 20 Best Big Companies to Work For 2006.[85]
  • Morgan Stanley was named one of the 100 Best Companies for Working Mothers in 2004 by Working Mother.[86]
  • Family Digest named Morgan Stanley one of the "Best Companies for African Americans" in June 2004.[87]

Lawsuits

2000s

In 2003, Morgan Stanley agreed to pay $125 million to settle its portion of a $1.4 billion settlement of a suit brought by Eliot Spitzer, the Attorney General of New York, the National Association of Securities Dealers (now the Financial Industry Regulatory Authority (FINRA)), the United States Securities and Exchange Commission (SEC), and a number of state securities regulators, relating to intentionally misleading research motivated by a desire to win investment banking business with the companies covered.[88]

In 2004, Morgan Stanley settled a sex discrimination suit brought by the Equal Employment Opportunity Commission for $54 million.[89] In 2007, the firm agreed to pay $46 million to settle a class action lawsuit brought by eight female brokers.[90]

In July 2004, the firm paid NASD a $2.2 million fine for more than 1,800 late disclosures of reportable information about its brokers.[91]

In September 2004, the firm paid a $19 million fine imposed by NYSE for failure to deliver prospectuses to customers in registered offerings, inaccurate reporting of certain program trading information, short sale violations, failures to fingerprint new employees and failure to timely file exchange forms.[92]

The New York Stock Exchange imposed a $19 million fine on January 12, 2005, for alleged regulatory and supervisory lapses. At the time, it was the largest fine ever imposed by the NYSE.[93]

On May 16, 2005, a Florida jury found that Morgan Stanley failed to give adequate information to Ronald Perelman about Sunbeam thereby defrauding him and causing damages to him of $604 million. In addition, punitive damages were added for total damages of $1.450 billion. This verdict was directed by the judge as a sanction against Morgan Stanley after the firm's attorneys infuriated the court by failing and refusing to produce documents, and falsely telling the court that certain documents did not exist.[94] The ruling was overturned on March 21, 2007, and Morgan Stanley was no longer required to pay the $1.57 billion verdict.[95]

Morgan Stanley settled a class-action lawsuit on March 2, 2006. It had been filed in California by both current and former Morgan Stanley employees for unfair labor practices instituted to those in the financial advisor training program. Employees of the program had claimed the firm expected trainees to clock overtime hours without additional pay and handle various administrative expenses as a result of their expected duties. A $42.5 million settlement was reached and Morgan Stanley admitted no fault.[96]

In May the firm agreed to pay a $15 million fine. The Securities and Exchange Commission accused the firm of deleting emails and failing to cooperate with SEC investigators.[97]

FINRA announced a $12.5 million settlement with Morgan Stanley on September 27, 2007. This resolved charges that the firm's former affiliate, Morgan Stanley DW, Inc. (MSDW), failed on numerous occasions to provide emails to claimants in arbitration proceedings as well as to regulators. The company had claimed that the destruction of the firm's email servers in the September 11 attacks in 2001, terrorist attacks on New York's World Trade Center resulted in the loss of all emails before that date. In fact, the firm had millions of earlier emails that had been retrieved from backup copies stored in another location that was not destroyed in the attacks.[98] Customers who had lost their arbitration cases against Morgan Stanley DW Inc. because of their inability to obtain these emails to demonstrate Morgan Stanley's misconduct received a token amount of money as a result of the settlement.

In July 2007, Morgan Stanley agreed to pay $4.4 million to settle a class-action lawsuit. The firm was accused of incorrectly charging clients for storage of precious metals.[99]

Under a settlement with New York Attorney General Andrew M. Cuomo, the firm agreed to repurchase approximately $4.5 billion worth of auction rate securities. The firm was accused of misrepresenting auction rate securities in their sales and marketing.[100]

In March 2009, FINRA announced Morgan Stanley was to pay more than $7 million for misconduct in the handling of the accounts of 90 Rochester, New York-area retirees.[101]

The Financial Services Authority fined the firm £1.4m for failing to use controls properly relating to the actions of a rogue trader on one of its trading desks. Morgan Stanley admitted on June 18, 2008, this resulted in a $120m loss for the firm.[102]

2010s

In April, the Commodity Futures Trading Commission announced the firm agreed to pay $14 million related to an attempt to hide prohibited trading activity in oil futures.[103]

Garth R. Peterson, one of Morgan Stanley's highest-ranking real estate executives in China, pleaded guilty on April 25 to violating U.S. federal anti-corruption laws. He was charged with secretly acquiring millions of dollars' worth of property investments for himself and a Chinese government official. The official steered business to Morgan Stanley.[104]

Morgan Stanley agreed to pay a $5 million fine to the Commodity Futures Trading Commission and an additional $1.75 million to CME and the Chicago Board of Trade. Morgan Stanley employees improperly executed fictitious sales in Eurodollar and Treasury Note futures contracts.[105]

On August 7, 2012, it was announced that Morgan Stanley would pay $4.8 million in fines to settle a price-fixing scandal, which had been estimated to have cost New Yorkers $300 million to date. Morgan Stanley made no admission of any wrongdoing; however, the Justice Department commented that they hoped this would "send a message to the banking industry".[106]

In Morgan Stanley v. Skowron, 989 F. Supp. 2d 356 (S.D.N.Y. 2013), applying New York's faithless servant doctrine to a case involving Morgan Stanley's hedge fund subsidiary, United States District Judge Shira Scheindlin held that a hedge fund's employee engaging in insider trading in violation of his company's code of conduct, which also required him to report his misconduct, must repay his employer the full $31 million his employer paid him as compensation during his period of faithlessness.[107][108][109][110] Judge Scheindlin called the insider trading the "ultimate abuse of a portfolio manager's position".[108] The judge also wrote:"In addition to exposing Morgan Stanley to government investigations and direct financial losses, Skowron's behavior damaged the firm's reputation, a valuable corporate asset."[108]

In February, Morgan Stanley agreed to pay $1.25 billion to the US government, as a penalty for concealing the full risk associated with mortgage securities with the Federal Housing Finance Agency.[citation needed]

In September 2014, Morgan Stanley agreed to pay $95 million to resolve a lawsuit by the Public Employees' Retirement System of Mississippi (MissPERS) and the West Virginia Investment Management Board. Morgan Stanley was accused of misleading investors in mortgage-backed securities.[111]

In May 2015, Morgan Stanley was fined $2 million for short interest reporting and rule violations for more than six years, by FINRA.[112]

February 2016, Morgan Stanley will pay $3.2 billion to settle with state and federal authorities over Morgan Stanley's creation of mortgage-backed bonds before the financial crisis.[113]

August 2016, Morgan Stanley Hong Kong Securities Ltd. was fined HK$18.5 million ($2.4 million) by Hong Kong's securities regulator, Securities and Futures Commission, for violations of Hong Kong's Code of Conduct. Included was Morgan Stanley's failure to avoid a conflict of interest between principal and agency trading.[114]

December 2016, another unit of Morgan Stanley paid $7.5 million to settle customer protection rule violations.[115]

In January 2017, the corporation was fined $13 million due to overbilling and violating investor asset safeguarding custody rules. Morgan Stanley agreed to pay the fine without commenting on the charges.[115]

Douglas E. Greenberg, a broker, was fired in 2018 after it was reported that four women from Lake Oswego, Oregon, had sought police protection against him over a 15-year period on allegations of harassment, threats, and assault.[116][117][118][119] According to the report, Morgan Stanley executives were aware of the allegations, and knew of at least two arrests and a federal subpoena against him, but did not take any action.[116][120] The story was called a #MeToo moment for Portland's financial service industry.[118] He managed tens of millions of dollars, and had made the 2018 Forbes list for top wealth advisors in Oregon.[116][121]

In December 2018, FINRA announced a $10 million fine against Morgan Stanley for failures in its anti-money laundering compliance. Morgan Stanley violated the Bank Secrecy Act over a period of five years.[122]

In April 2019, Morgan Stanley agreed to pay $150 million to settle charges that it had misled two large California public pension funds about the risks of mortgage-backed securities.[123] California Attorney General Xavier Becerra commented: "Morgan Stanley lied about the risk of its products and put profits over teachers and public employees who relied on its advice." Morgan Stanley denied wrongdoing.[124]

In November 2019, Morgan Stanley fired or placed on leave four traders for suspected securities mismarking. The firm suspected that $100–140 million in losses were concealed by the mismarking of the value of the securities.[125]

Morgan Stanley paid a $1.5 million fine to settle SEC claims that it put client money into more expensive mutual fund share classes when cheaper options were available despite representations to clients that it used tools to find the least costly option.[126]

2020s

2020

In May 2020, Morgan Stanley agreed to pay a $5 million penalty to settle allegations made by the SEC that the corporation provided misleading information to some clients in the retail wrap fee programs regarding trade-execution services and transaction costs.[127]

Current and former chief executives

The position of chief executive was known as president until 1991; the position was not in use between 1961 and 1970 as Morgan Stanley was a partnership during this period.[128]

  1. Harold Stanley (1935–1951)
  2. Perry Hall (1951–1961)
  3. Samuel B. Payne (1970–1971)
  4. Chester H. Lasell (1971–1972)
  5. Robert H. B. Baldwin (1973–1982)
  6. S. Parker Gilbert (1983–1984)
  7. Richard B. Fisher (1984–1997)
  8. Phil Purcell (1997–2005)
  9. John Mack (2005–2009)
  10. James P. Gorman (2009–present)[129]

Global and other headquarters

The Morgan Stanley world headquarters are located in New York City, the European headquarters are in London, Asia Pacific headquarters are in both Hong Kong and Tokyo, Canada headquarters in Toronto.[130][131]

Notable alumni

See also

Notes

  1. ^ "Morgan Stanley 2022 Proxy statement". SEC.gov. U.S. Securities and Exchange Commission. April 8, 2022.
  2. ^ a b c "Morgan Stanley 2022 Form 10-K Annual Report". SEC.gov. U.S. Securities and Exchange Commission. February 24, 2023.
  3. ^ "Basel III Pillar 3 Disclosures Report For the Quarterly Period Ended December 31, 2019" (PDF).
  4. ^ "Fortune 500 Companies 2021: Morgan Stanleyt". Fortune. Retrieved May 10, 2022.
  5. ^ a b . www.morganstanley.com. Archived from the original on March 23, 2016. Retrieved May 14, 2018.
  6. ^ "Morgan Stanley Chairman and CEO Philip J. Purcell Announces Plans to Retire". Morgan Stanley. Retrieved May 14, 2018.
  7. ^ "SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Morgan Stanley, Dean Witter, Discover & Co.)" (PDF). Morgan Stanley.
  8. ^ "History of Morgan Stanley Dean Witter & Company – FundingUniverse". www.fundinguniverse.com. Retrieved May 14, 2018.
  9. ^ a b c McGeehan, Patrick (2001). "THE MARKETS: Market Place; Morgan Stanley decides to drop the Dean Witter name". The New York Times. ISSN 0362-4331. Retrieved May 14, 2018.
  10. ^ a b "MORGAN STANLEY'S NEW BRAND UNVEILS TUESDAY". Retrieved May 14, 2018.
  11. ^ Wile, Rob. "DUELS, BOMBINGS AND APPLE: The Incredible Story Behind The Creation Of JPMorgan Chase". Business Insider. Retrieved April 27, 2020.
  12. ^ a b Bazoobandi, Sara (2013). The Political Economy of the Gulf Sovereign Wealth Funds: A Case Study of Iran, Kuwait, Saudi Arabia and the United Arab Emirates. Routledge. ISBN 978-0-415-52222-9.
  13. ^ Knee, Jonathan A. (August 15, 2006). The Accidental Investment Banker: Inside the Decade that Transformed Wall Street. Oxford University Press. ISBN 978-0-19-992414-1.
  14. ^ Committee, United States Congress House Temporary National Economic (1939). Investigation of Concentration of Economic Power: Hearings Before the Temporary National Economic Committee ... U.S. Government Printing Office.
  15. ^ Saxon, Wolfgang (July 18, 1992). "Perry E. Hall, Founding Partner Of Morgan Stanley, Is Dead at 96". The New York Times. ISSN 0362-4331. Retrieved April 27, 2020.
  16. ^ "World Bank Back in U.S. Debt Market". The New York Times. December 10, 1975. ISSN 0362-4331. Retrieved April 27, 2020.
  17. ^ "Alumni Awards 2001 - Dick Fisher". HBS.edu. July 2, 2001. Retrieved September 3, 2014.
  18. ^ Pak, Susie J. (June 1, 2013). Gentlemen Bankers. Harvard University Press. ISBN 978-0-674-07557-3.
  19. ^ Bleakley, Fred R. (June 17, 1985). "Goldman's Rise in Real Estate". The New York Times. ISSN 0362-4331. Retrieved April 27, 2020.
  20. ^ Chernow, Ron (January 19, 2010). The House of Morgan: An American Banking Dynasty and the Rise of Modern Finance. Grove/Atlantic, Inc. ISBN 978-0-8021-9813-6.
  21. ^ Tribune, Chicago. "VAN KAMPEN NEARING SALE TO MORGAN STANLEY". chicagotribune.com. Retrieved April 27, 2020.
  22. ^ Truell, Peter (February 6, 1997). "Morgan Stanley and Dean Witter Agree to Merge". The New York Times. ISSN 0362-4331. Retrieved April 27, 2020.
  23. ^ "Dean Witter to Buy Morgan Stanley in $10-Billion Deal". Los Angeles Times. February 6, 1997. Retrieved April 27, 2020.
  24. ^ Newswires, Cheryl Winokur MunkDow Jones (January 30, 2001). "Morgan Stanley to Eliminate Dean Witter From Its Name". The Wall Street Journal. ISSN 0099-9660. Retrieved April 27, 2020.
  25. ^ John, Satish; Nambisan, Raj (February 22, 2007). "U-turn: Finally, Nimesh Kampani sells out to Morgan Stanley". DNA India. Retrieved August 7, 2021.
  26. ^ "Morgan Stanley Case Study" (PDF). FEMA. Retrieved April 27, 2020.
  27. ^ Stewart, James B. (February 4, 2002). "The Real Heroes Are Dead". The New Yorker. Retrieved April 27, 2020.
  28. ^ "Train named after Cornish 9/11 hero". BBC News. April 13, 2019. Retrieved April 27, 2020.
  29. ^ . Archived from the original on October 28, 2009. Retrieved September 11, 2009.
  30. ^ (PDF). Archived from the original (PDF) on March 9, 2007. Retrieved May 5, 2007.
  31. ^ "At Children's Hospitals, Friendly Designs". The New York Times. November 17, 2002.
  32. ^ "NewYork-Presbyterian Morgan Stanley Children's Hospital | Columbia University Department of Surgery". columbiasurgery.org. Retrieved April 27, 2020.
  33. ^ Moyer, Liz (June 13, 2005). "Lame Duck Purcell". Forbes Website. Retrieved March 22, 2008.
  34. ^ Thomas, Landon Jr. (April 21, 2005). "Morgan Stanley Exodus Continues as 8 Traders Leave". The New York Times. Retrieved March 22, 2008.
  35. ^ Chief Will Leave Morgan Stanley, Ending Struggle. The New York Times, June 14, 2005
  36. ^ "Only the Men Survive". New York Magazine.
  37. ^ The Reward for Leaving: $113 Million. The New York Times, July 8, 2005
  38. ^ "Morgan Stanley to Spin Off Discover Unit". Bloomberg.com. December 19, 2006. Retrieved April 27, 2020.
  39. ^ Distribution of Discover Financial Services Common Stock Morgan Stanley Stockholder Tax Basis Information – Morgan Stanley. Retrieved January 27, 2021
  40. ^ "Morgan Stanley, Kampani end JV". The Times of India. February 23, 2007. Retrieved August 7, 2021.
  41. ^ "Morgan parts ways with JM Financial". The Economic Times. February 23, 2007. Retrieved August 7, 2021.
  42. ^ "Morgan Stanley In India Receives Merchant Banking License and Announces Two Senior Appointments". Morgan Stanley. October 10, 2007. Retrieved August 1, 2021.
  43. ^ . Joe Bel Bruno. Archived from the original on December 21, 2007. Retrieved December 19, 2007.
  44. ^ Merced, Michael J. de la; Bradsher, Keith (December 19, 2007). "Morgan Stanley to Sell Stake to China Amid Loss". The New York Times. ISSN 0362-4331. Retrieved April 27, 2020.
  45. ^ Patterson, Scott D., The Quants: How a New Breed of Math Whizzes Conquered Wall Street and Nearly Destroyed It, Crown Business, 352 pages, 2010. ISBN 0-307-45337-5 ISBN 978-0307453372 Amazon page for book. Specifically in an excerpt from "Chapter 10: The August Factor", in the January 23, 2010 Wall Street Journal.
  46. ^ "Morgan Stanley to Advise U.S. on Fannie and Freddie". The New York Times. August 6, 2008. Retrieved August 11, 2008.
  47. ^ Kudla, David. "Morgan Stanley's future is bright for investors". MarketWatch.
  48. ^ Jagger, Suzy (September 19, 2008). "Morgan Stanley perplexes Wall Street as bank loses $20bn". The Times. Retrieved December 24, 2018.
  49. ^ Duff McDonald, Last Man Standing (2009)
  50. ^ Wall Street in crisis: Last banks standing give up investment bank status, The Guardian (London), September 22, 2008
  51. ^ Goldman, Morgan Stanley Bring Down Curtain on an Era, Bloomberg, September 22, 2008
  52. ^ . September 29, 2008. Archived from the original on October 2, 2008. Retrieved October 2, 2008.
  53. ^ Andrew Ross Sorkin (2009). Too Big to Fail. Viking. pp. 517–18.
  54. ^ . Business Insider. November 20, 2009. Archived from the original on August 31, 2020. Retrieved October 14, 2020.
  55. ^ Morgan Stanley (September 16, 2020). "Episode 04: Surviving the Crisis". Timestamp 14:23: YouTube. Archived from the original on October 30, 2021. Retrieved October 14, 2020.{{cite web}}: CS1 maint: location (link)
  56. ^ "Fed give OK to Mitsubishi, Morgan Stanley deal". Reuters. October 6, 2008. Retrieved April 14, 2012.
  57. ^ "Mitsubishi UFJ buys 21% stake in Morgan Stanley". USA Today. October 13, 2008. Retrieved April 14, 2012.
  58. ^ Clark, Andrew; Bowers, Simon (October 11, 2008). "Morgan Stanley hangs on Mitsubishi's $9bn pledge". The Guardian. London. Retrieved April 14, 2012.
  59. ^ Sato, Shigeru; Taniguchi, Takako (April 2, 2012). "Mitsubishi UFJ Mulls Multi-Billion Dollar U.S. Bank Acquisition". Bloomberg. Retrieved April 14, 2012.
  60. ^ "Morgan Stanley Speculating to Brink of Collapse Got $107 Billion From Fed". Bloomberg. August 22, 2011. Retrieved December 23, 2014.
  61. ^ "Morgan Stanley Pledges Billion to Boost Sustainability". Bloomberg.
  62. ^ Cheung, Sonja (July 7, 2014). "Morgan Stanley Asia Private-Equity Fund Raises $1.7 Billion". The Wall Street Journal. Retrieved July 11, 2014.
  63. ^ "Morgan Stanley to cut 25% of fixed-income jobs in next 2 weeks". Gulf News. Retrieved December 1, 2015.
  64. ^ "Morgan Stanley 4Q2015 Earnings Release" (PDF).
  65. ^ a b Merced, Michael J. de la; Kelly, Kate; Flitter, Emily (June 16, 2020). "Morgan Stanley to Buy E-Trade, Linking Wall Street and Main Street". The New York Times. Retrieved October 8, 2020.
  66. ^ a b Manskar, Noah (October 2, 2020). "Morgan Stanley officially closes all-stock E*Trade takeover deal". New York Post.
  67. ^ a b "Morgan Stanley Closes Acquisition of Eaton Vance" (Press release). Morgan Stanley. March 1, 2021. Retrieved August 20, 2021.
  68. ^ Hirsch, Lauren (December 6, 2022). "Morgan Stanley Cuts 2% of Global Work Force as Deal-Making Slows". The New York Times. Retrieved May 1, 2023.
  69. ^ Natarajan, Sridhar; Doherty, Katherine (May 1, 2023). "Morgan Stanley Plans 3,000 More Job Cuts as Dealmaking Slumps". Bloomberg.com. Retrieved May 1, 2023.
  70. ^ Natarajan, Sridhar (May 1, 2023). "Morgan Stanley Plans 3,000 More Job Cuts as Dealmaking Slumps". Bloomberg.com. Retrieved May 1, 2023.
  71. ^ Son, Hugh (May 2, 2023). "Wall Street layoffs: Morgan Stanley". CNBC. Retrieved May 2, 2023.
  72. ^ FINS.com. "Morgan Stanley Overview". Retrieved July 19, 2010.
  73. ^ Casteleyn, Jonathan (March 4, 2013). "Morgan Stanley and Goldman have bigger bond exposure than Bank of America and Citi". Market Realist. Market Realist, Inc. Retrieved September 11, 2014.
  74. ^ (Press release). January 13, 2009. Archived from the original on January 29, 2015. Retrieved October 2, 2020.
  75. ^ "Morgan Stanley Advises Citigroup of Intention to Exercise Right to Purchase an Additional 14 Percent of Morgan Stanley Smith Barney" (Press release). May 31, 2012.
  76. ^ . Morgan Stanley. June 21, 2013. Archived from the original on January 29, 2015. Retrieved September 21, 2014.
  77. ^ Hoffman, Liz (February 11, 2019). "Morgan Stanley, in Its Biggest Deal Since Crisis, Courts Future Millionaires". Wall Street Journal.
  78. ^ "Invesco to Buy Morgan Stanley Unit for $1.5 Billion". Deal Book. The New York Times. October 19, 2009. Retrieved October 20, 2009.
  79. ^ "Morgan Stanley announces strategic partnership with Longchamp Asset Management and La Française AM… Schroder GAIA platform onboards the GAIA Avoca Credit fund". hedgeweek.com. September 29, 2013.
  80. ^ "Morgan Stanley Investment Management Completes Acquisition of Mesa West Capital, LLC".
  81. ^ "IFR Awards 2020: The winners".
  82. ^ "The world's best investment bank 2021: How Morgan Stanley thrived in a year of challenge". September 10, 2021.
  83. ^ "Best Workplaces for Innovators".
  84. ^ . Greatplacetowork-europe.com. February 18, 2010. Archived from the original on December 1, 2008. Retrieved July 9, 2011.
  85. ^ "Times 20 Best Big Companies to Work For 2006 list". The Times. London. March 5, 2006. Retrieved February 8, 2007.
  86. ^ "2018 Working Mother 100 Best Companies". Working Mother. Retrieved November 4, 2019.
  87. ^ "Family Digest's Second Annual Best Companies for African Americans Awards".
  88. ^ Ulick, Jake (April 28, 2003). "Wall St. deal is finalized". CNN. Retrieved April 11, 2012.
  89. ^ "EEOC AND MORGAN STANLEY ANNOUNCE SETTLEMENT OF SEX DISCRIMINATION LAWSUIT". EEOC. July 12, 2004. Retrieved April 11, 2012.
  90. ^ Anderson, Jenny (April 25, 2007). "Wall St. Firm Will Settle Sex Bias Suit". NYT. Retrieved April 11, 2012.
  91. ^ . Financial Industry Regulatory Authority. July 29, 2004. Archived from the original on October 4, 2014. Retrieved April 11, 2012.
  92. ^ . NYSE. September 22, 2004. Archived from the original on December 10, 2012. Retrieved April 11, 2012.
  93. ^ "The New York Stock Exchange (NYSE) has hit US investment bank Morgan Stanley with a record $19m (£10m) fine". January 12, 2005. Retrieved April 12, 2012.
  94. ^ Barton, Jill (May 19, 2005). "Jury Orders Firm to Pay Perelman $1.4 Billion; Morgan Stanley Cited for Fraud In Coleman Sale". The Washington Post.
  95. ^ . International Herald Tribune. March 29, 2009. Archived from the original on February 17, 2008. Retrieved July 9, 2011.
  96. ^ "Morgan Settles Suit on Overtime". Los Angeles Times. March 3, 2006. Retrieved July 9, 2011.
  97. ^ "More E-Mail Problems, More Fines For Morgan Stanley". InformationWeek. Retrieved April 20, 2011.
  98. ^ . Finra.org. Archived from the original on May 10, 2008. Retrieved July 9, 2011.
  99. ^ "Morgan Stanley to settle class-action lawsuit". Reuters. June 12, 2007. Retrieved April 20, 2012.
  100. ^ . AdvisorOne. Archived from the original on May 30, 2013. Retrieved April 20, 2011.
  101. ^ . FINRA. Archived from the original on October 19, 2011. Retrieved April 20, 2012.
  102. ^ Treanor, Jill (May 13, 2009). "FSA fines Morgan Stanley £1.4m over rogue trader". The Guardian. London. Retrieved April 20, 2012.
  103. ^ "In another Wall Street misdeed, Morgan Stanley settles oil-trading flap". McCaltchyDC. Retrieved April 20, 2012.
  104. ^ Lattman, Peter (April 25, 2012). "Morgan Stanley Executive Pleads Guilty to Violating Anticorruption Laws". The New York Times. Retrieved April 25, 2012.
  105. ^ . Archived from the original on May 6, 2013. Retrieved June 7, 2012.
  106. ^ "Bank To Pay $4.8 Million To Settle Charges That Cost Customers $300 Million". Huffington Post. August 7, 2012.
  107. ^ Glynn, Timothy P.; Arnow-Richman, Rachel S.; Sullivan, Charles A. (2019). Employment Law: Private Ordering and Its Limitations. Wolters Kluwer Law & Business. ISBN 9781543801064 – via Google Books.
  108. ^ a b c Jerin Matthew (December 20, 2013). "'Faithless' Ex-Morgan Stanley Fund Manager Ordered to Repay $31m to Former Employer". International Business Times UK.
  109. ^ Henning, Peter J. (December 23, 2013). "The Huge Costs of Being a 'Faithless Servant'". New York Times DealBook.
  110. ^ "Morgan Stanley seeks $10.2 million from convicted former trader". GreenwichTime. January 15, 2013.
  111. ^ "Morgan Stanley to pay $95 million in U.S. mortgage-debt settlement". Reuters. September 9, 2014.
  112. ^ "Morgan Stanley fined $2M over short-interest violations". USA Today. May 13, 2015.
  113. ^ "Morgan Stanley to Pay $3.2 Billion Over Flawed Mortgage Bonds". The New York Times. February 11, 2016.
  114. ^ "Morgan Stanley Fined $2.4M on Internal Control Failures". Zacks.com. August 25, 2016.
  115. ^ a b "Morgan Stanley to pay $13 million for overbilling clients: SEC". Reuters. January 13, 2017. Retrieved January 15, 2017.
  116. ^ a b c Flitter, Emily (March 28, 2018). "Morgan Stanley Knew of a Star's Alleged Abuse. He Still Works There". The New York Times. ISSN 0362-4331. Retrieved March 29, 2018.
  117. ^ "Disgraced broker still tweeting to clients with tax advice". New York Post. March 29, 2018. Retrieved March 29, 2018.
  118. ^ a b "Morgan Stanley knew of abuse allegations against Lake Oswego broker: report". OregonLive.com. Retrieved March 29, 2018.
  119. ^ Flitter, Emily (April 3, 2018). "Morgan Stanley Fires Broker With History of Abuse Claims". The New York Times. Retrieved August 20, 2021.
  120. ^ "Morgan Stanley's executives knew of an employee's alleged abuse, he still works there". Toronto Star. Retrieved March 30, 2018.
  121. ^ "Best-In-State Wealth Advisors". Forbes. Retrieved March 29, 2018.
  122. ^ Buckman, Caitlyn. "FINRA Fines Morgan Stanley For Five Years Of Ineffective Anti-Money Laundering Monitoring – Syracuse Law Review". Retrieved November 17, 2019.
  123. ^ "Morgan Stanley to pay $150 million to settle California crisis-era mortgage charges". Reuters. April 25, 2019. Retrieved November 17, 2019.
  124. ^ "Attorney General Becerra Announces $150 Million Settlement Against Morgan Stanley for Misleading California's Teachers and Workers with Pensions". State of California - Department of Justice - Office of the Attorney General. April 25, 2019. Retrieved November 17, 2019.
  125. ^ Stefania Spezzati, Donal Griffin, and Viren Vaghela (November 28, 2019). "Morgan Stanley Ousts FX Traders as It Probes Concealed Loss". Bloomberg.{{cite web}}: CS1 maint: multiple names: authors list (link)
  126. ^ "SEC fines Morgan Stanley $1.5m over alleged share class violations". sjo3ekt.js. Retrieved November 17, 2019.
  127. ^ Sebastian, Dave (May 12, 2020). "Morgan Stanley to Pay $5 Million Settlement on Wrap-Fee Claims". The Wall Street Journal. Retrieved August 20, 2021.
  128. ^ "Overview of Morgan Stanley".
  129. ^ "Operating Committee". Morgan Stanley. Retrieved February 19, 2020.
  130. ^ "Morgan Stanley in the United Kingdom". Morganstanley.com. Retrieved July 9, 2011.
  131. ^ "Morgan Stanley in Hong Kong". Morganstanley.com. Retrieved July 9, 2011.
  132. ^ White, Joseph (November 29, 2018). "GM President Ammann will take over Cruise self-driving car unit". Reuters. Retrieved January 2, 2020.
  133. ^ Fierberg, Emma; Huddleston, Tom Jr. (July 13, 2019). "'Strictly Dumpling' YouTuber Mike Chen's best and 'most expensive' food day ever". CNBC. Retrieved May 9, 2022.
  134. ^ "Bjarne Stroustrup". Morgan Stanley. Retrieved January 21, 2021.

References

  • Chernow, Ron (1990). The House of Morgan.
  • Hibbard, J. (January 17, 2005). "Morgan Stanley: No stars—and lots of top tech IPOs". BusinessWeek, 56–58.
  • Partnoy, Frank. F.I.A.S.C.O. New York: Penguin Books, 1997.

Further reading

External links

  • Official website
  • Business data for Morgan Stanley:
    • Google
    • SEC filings
    • Yahoo!

May 12, 2023
morgan, stanley, american, multinational, investment, bank, financial, services, company, headquartered, 1585, broadway, midtown, manhattan, york, city, with, offices, countries, more, than, employees, firm, clients, include, corporations, governments, institu. Morgan Stanley is an American multinational investment bank and financial services company headquartered at 1585 Broadway in Midtown Manhattan New York City With offices in 41 countries and more than 75 000 employees the firm s clients include corporations governments institutions and individuals 2 Morgan Stanley ranked No 61 in the 2021 Fortune 500 list of the largest United States corporations by total revenue 4 Morgan StanleyTypePublicTraded asNYSE MSS amp P 100 componentS amp P 500 componentIndustryFinancial servicesFounded1935 the original Morgan Stanley 1924 Dean Witter amp Co 1931 Reynolds Securities FounderHenry Sturgis MorganHarold StanleyDean G WitterRichard S Reynolds Jr HeadquartersMorgan Stanley BuildingNew York City New York U S Area servedInternational serviceKey peopleJames P Gorman Chairman amp CEO Ted Pick Co President Andy Saperstein Co President Jonathan Pruzan Chief Operating Officer Sharon Yeshaya CFO ProductsInvestment banking Sales and trading Commodities Prime brokerage Wealth management Investment managementRevenueUS 53 7 billion 2022 Operating incomeUS 14 1 billion 2022 Net incomeUS 11 1 billion 2022 AUMUS 1 31 trillion 2022 Total assetsUS 1 18 trillion 2022 Total equityUS 101 billion 2022 OwnerMUFG 21 6 1 Number of employees82 427 2022 SubsidiariesMorgan Stanley Wealth ManagementE TradeEaton VanceSoliumStraitNZFrontPoint PartnersJeonju Paper 58 Capital ratio15 3 2022 Websitemorganstanley wbr comFootnotes references 2 3 The original Morgan Stanley formed by J P Morgan amp Co partners Henry Sturgis Morgan a grandson of J P Morgan Harold Stanley and others came into existence on September 16 1935 in response to the Glass Steagall Act which required the splitting of American commercial and investment banking businesses 5 In its first year the company operated with a 24 market share US 1 1 billion in public offerings and private placements The current Morgan Stanley is the result of the merger of the original Morgan Stanley with Dean Witter Discover amp Co in 1997 5 Dean Witter s Chairman and CEO Philip J Purcell became the Chairman and CEO of the newly merged Morgan Stanley Dean Witter Discover amp Co 6 7 The new firm changed its name back to Morgan Stanley in 2001 8 9 10 The main areas of business for the firm today are institutional securities wealth management and investment management The bank is considered systemically important by the Financial Stability Board Contents 1 Overview 2 History 2 1 The original Morgan Stanley 1935 1997 2 2 Morgan Stanley after the merger 1997 present 3 Organization 3 1 Institutional Securities Group 3 2 Wealth Management 3 3 Investment Management 4 Awards and honors 5 Lawsuits 5 1 2000s 5 2 2010s 5 3 2020s 5 3 1 2020 6 Current and former chief executives 7 Global and other headquarters 8 Notable alumni 9 See also 10 Notes 11 References 12 Further reading 13 External linksOverview EditMorgan Stanley is a financial services corporation that through its affiliates and subsidiaries advises and originates trades manages and distributes capital for institutions governments and individuals The company operates in three business segments Institutional Securities Wealth Management and Investment Management 2 History EditSee also JPMorgan Chase and J P Morgan amp Co The original Morgan Stanley 1935 1997 Edit Morgan Stanley traces its roots to J P Morgan amp Co Following the Glass Steagall Act it was no longer possible for a corporation to have investment banking and commercial banking businesses under a single holding entity 11 12 J P Morgan amp Co chose the commercial banking business over the investment banking business As a result some of the employees of J P Morgan amp Co most notably Henry S Morgan and Harold Stanley left J P Morgan amp Co and joined others from the Drexel partners to form Morgan Stanley 12 The firm formally opened its doors for business on September 16 1935 at 2 Wall Street New York City just down the street from J P Morgan 13 The firm was involved with the distribution of 1938 US 100 million of debentures for the United States Steel Corporation as the lead underwriter 14 The firm also obtained the distinction of being the lead syndicate in the 1939 U S rail financing citation needed The firm went through a reorganization in 1941 to allow for more activity in its securities business citation needed The firm was led by Perry Hall the last founder to lead Morgan Stanley from 1951 until 1961 15 During this period the firm co managed the World Bank s triple A rated bonds offering of 1952 16 as well as coming up with General Motors US 300 million debt issue citation needed US 231 million IBM stock offering citation needed and the US 250 million AT amp T s debt offering citation needed Morgan Stanley credits itself with having created the first viable computer model for financial analysis in 1962 thereby starting a new trend in the field of financial analysis Future president and chairman Dick Fisher contributed to the computer model as a young employee learning the FORTRAN and COBOL programming languages at IBM 17 In 1967 it established the Morgan amp Cie International in Paris in an attempt to enter the European securities market 18 The firm acquired Brooks Harvey amp Co Inc in 1967 and established a presence in the real estate business 19 The sales and trading business is believed to be the brainchild of Bob Baldwin 20 In 1996 Morgan Stanley acquired Van Kampen American Capital 21 Morgan Stanley after the merger 1997 present Edit Current Morgan Stanley Logo 2022 Historical logo used by Morgan Stanley in the early 2000s On February 5 1997 the company merged with Dean Witter Discover amp Co the spun off financial services business of Sears Roebuck 22 Dean Witter s Chairman and CEO Philip J Purcell continued to hold the same roles in the newly merged Morgan Stanley Dean Witter Discover amp Co Morgan Stanley s president John J Mack became the firm s president and chief operating officer 23 In 1998 the name of the firm was changed to Morgan Stanley Dean Witter amp Co 24 Originally the name was chosen to be the combination of the two predecessor companies in order to avoid tension between the two firms 9 Eventually in 2001 Dean Witter was further dropped and the name became Morgan Stanley for unrevealed reasons 9 10 The merged firm began expanding overseas operations in 1999 Mack set up a joint venture in India with local partner JM Financial 25 Morgan Stanley had offices located on 35 floors across buildings 1 2 and 5 of the World Trade Center and was the largest tenant of the WTC complex Most of these offices had been inherited from Dean Witter which had occupied the space since the mid 1980s citation needed The firm lost 13 employees during the September 11 attacks in 2001 26 Thomas F Swift Wesley Mercer Jennifer de Jesus Joseph DiPilato Nolbert Salomon Godwin Forde Steve R Strauss Lindsay C Herkness Albert Joseph Jorge Velazquez Titus Davidson Charles Laurencin and Security Director Rick Rescorla in the towers while 2 687 were successfully evacuated by Rick Rescorla 27 28 The surviving employees moved to temporary headquarters in the vicinity In 2005 Morgan Stanley moved 2 300 of its employees back to lower Manhattan at that time the largest such move 29 Morgan Stanley Children s Hospital of New York Presbyterian is the only stand alone pediatric hospital in New York City and is part of New York Presbyterian Hospital In 2003 New York Presbyterian Hospital named the Morgan Stanley Children s Hospital in recognition of the firm s sponsorship of the hospital which largely funded its construction through philanthropy 30 The initiative began under CEO Philip J Purcell and was completed under John Mack Employees at the firm have been involved with the hospital since the 1990s and personally donated to the construction of the current child friendly building which opened in November 2003 31 32 The company found itself in the midst of a management crisis starting in March 2005 33 that resulted in a loss of the firm s staff 34 Purcell resigned as CEO of Morgan Stanley in June 2005 when a highly public campaign by former Morgan Stanley partners 35 36 threatened to damage the firm and challenged his refusal to aggressively increase leverage increase risk enter the sub prime mortgage business and make expensive acquisitions the same strategies that forced Morgan Stanley into massive write downs related to the subprime mortgage crisis by 2007 37 On December 19 2006 Morgan Stanley announced the spin off of its Discover Card unit 38 The bank completed the spinoff of Discover Financial on June 30 2007 39 citation needed In February 2007 Morgan Stanley announced the end of its Indian joint venture the bank acquired its local partner s stake in the institutional brokerage business and sold its own stake in the other businesses 40 41 The bank then set up a wholly owned subsidiary the country head of Investment Management Narayan Ramachandran became CEO of the new subsidiary Aisha de Sequeira a Managing Director in the Mergers and Acquisitions group was made Head of Investment Banking 42 In order to cope with the write downs during the subprime mortgage crisis Morgan Stanley announced on December 19 2007 that it would receive a US 5 billion capital infusion from the China Investment Corporation in exchange for securities that would be convertible to 9 9 of its shares in 2010 43 44 The bank s Process Driven Trading unit was amongst several on Wall Street caught in a short squeeze reportedly losing nearly 300 million in one day The bubble s subsequent collapse was considered to be a central feature of the financial crisis of 2007 2010 45 The bank was contracted by the United States Treasury in August 2008 to advise the government on potential rescue strategies for Fannie Mae and Freddie Mac 46 Within days Morgan Stanley itself was at risk of failure with rapidly changing prospects regulatory model and ownership stakes over the course of four weeks from mid September to mid October 2008 The bank Morgan Stanley was reported to have lost over 80 of its market value between 2007 and 2008 during the financial crisis 47 On September 17 2008 the British evening news analysis program Newsnight reported that Morgan Stanley was facing difficulties after a 42 slide in its share price in two days CEO John J Mack wrote in a memo to staff we re in the midst of a market controlled by fear and rumours and short sellers are driving our stock down By September 19 2008 the share price had slid 57 in four days and the company was said to have explored merger possibilities with CITIC Wachovia HSBC Standard Chartered Banco Santander and Nomura 48 At one point Hank Paulson offered Morgan Stanley to JPMorgan Chase at no cost but JPMorgan s Jamie Dimon refused the offer 49 Morgan Stanley and Goldman Sachs the last two major investment banks in the US both announced on September 22 2008 that they would become traditional bank holding companies regulated by the Federal Reserve 50 The Federal Reserve s approval of their bid to become banks ended the ascendancy of securities firms 75 years after Congress separated them from deposit taking lenders and capped weeks of chaos that sent Lehman Brothers Holdings Inc into bankruptcy and led to the rushed sale of Merrill Lynch amp Co to Bank of America Corp 51 MUFG Bank Japan s largest bank invested 9 billion in a direct purchase of a 21 ownership stake in Morgan Stanley on September 29 2008 52 The payment from MUFG was supposed to be wired electronically however because it needed to be made on an emergency basis on Columbus Day when banks were closed in the US MUFG cut a US 9 billion physical check the largest amount written via physical check at the time 53 54 The physical check was accepted by Robert A Kindler Global Head of Mergers and Acquisitions and Vice Chairman of Morgan Stanley at the offices of Wachtell Lipton 55 Concerns over the completion of the Mitsubishi deal during the October 2008 stock market volatility caused a dramatic fall in Morgan Stanley s stock price to levels last seen in 1994 It recovered once Mitsubishi UFJ s 21 stake in Morgan Stanley was completed on October 14 2008 56 57 58 59 Morgan Stanley borrowed 107 3 billion from the Fed during the 2008 crisis the most of any bank according to data compiled by Bloomberg News Service and published August 22 2011 60 In 2009 Morgan Stanley purchased Smith Barney from Citigroup and the new broker dealer operates under the name Morgan Stanley Smith Barney the largest wealth management business in the world In November 2013 Morgan Stanley announced that it would invest 1 billion to help improve affordable housing as part of a wider push to encourage investment in efforts that aid economic social and environmental sustainability 61 In July 2014 Morgan Stanley s Asian private equity arm announced it had raised around 1 7 billion for its fourth fund in the area 62 In December 2015 it was reported that Morgan Stanley would be cutting around 25 percent of its fixed income jobs before month end 63 In January 2016 the company reported that it had offices in more than 43 countries 64 In October 2020 the company completed its acquisition of E Trade a deal announced in February 2020 for 13 billion the biggest acquisition by a U S bank since the global financial crisis 65 66 In March 2021 Morgan Stanley completed its acquisition of Eaton Vance a deal announced in October 2020 With the addition of Eaton Vance Morgan Stanley now had 5 4 trillion of client assets across its Wealth Management and Investment Management segments 67 The firm conducted layoffs in December 2022 68 69 and Bloomberg announced the firm expected more layoffs in mid 2023 70 On May 2 2023 an individual familiar with the matter reported that Morgan Stanley has outlined its intention to reduce approximately 3 000 positions by the end of June The projected reduction constitutes roughly 5 percent of the bank s overall workforce with financial advisors and support staff exempted from these staff cuts 71 Organization EditThe company s 3 divisions are as follows Institutional Securities Group Edit Offices of Morgan Stanley at the International Financial Services District in Glasgow Scotland in 2018 Morgan Stanley s Institutional Securities is the most profitable business segment This business segment provides institutions with investment banking services such as capital raising and financial advisory services such as mergers and acquisitions advisory restructurings real estate and project finance and corporate lending The segment also encompasses the Equities and the Fixed Income divisions of the firm trading is anticipated to maintain its position as the engine room of the company 72 Among the major U S banks Morgan Stanley sources the highest portion of revenues from fixed income underwriting which was reported at 6 0 of total revenue in FY12 73 Wealth Management Edit The Global Wealth Management Group provides stockbrokerage and investment advisory services This segment provides financial and wealth planning services to its clients who are primarily high net worth individuals On January 13 2009 the Global Wealth Management Group was merged with Citi s Smith Barney to form Morgan Stanley Smith Barney Morgan Stanley owned 51 of the entity and Citi held 49 74 On May 31 2012 Morgan Stanley exercised its option to purchase an additional 14 of the joint venture from Citi 75 In June 2013 Morgan Stanley stated it had secured all regulatory approvals to buy Citigroup s remaining 35 stake in Smith Barney and would proceed to finalize the deal 76 In February 2019 the company announced the acquisition of Solium Capital a manager of employee stock plans for 900 million 77 In October 2020 the company completed its acquisition of E Trade a deal announced in February 2020 for 13 billion the biggest acquisition by a U S bank since the global financial crisis 65 66 Investment Management Edit Investment Management provides asset management products and services in equity fixed income alternative investments real estate investment and private equity to institutional and retail clients through third party retail distribution channels intermediaries and Morgan Stanley s institutional distribution channel Morgan Stanley s asset management activities were principally conducted under the Morgan Stanley and Van Kampen brands until 2009 On October 19 2009 Morgan Stanley announced that it would sell Van Kampen to Invesco for 1 5 billion but would retain the Morgan Stanley brand 78 It provides asset management products and services to institutional investors worldwide including pension plans corporations private funds non profit organizations foundations endowments governmental agencies insurance companies and banks On September 29 2013 Morgan Stanley announced a partnership with Longchamp Asset Management a French based asset manager that specializes in the distribution of UCITS hedge funds and La Francaise AM a multi specialist asset manager with a 10 year track record in alternative investments 79 In March 2018 Morgan Stanley acquired Mesa West a leading U S commercial real estate credit platform adding to its existing investment strategies and product offerings across real assets and private credit 80 In March 2021 Morgan Stanley completed its acquisition of Eaton Vance a deal announced in October 2020 With the addition of Eaton Vance Morgan Stanley now had 5 4 trillion of client assets across its Wealth Management and Investment Management segments 67 Awards and honors EditIn 2020 Morgan Stanley was named IFR s Bank of the Year 81 and in 2021 Morgan Stanley was named Euromoney s best investment bank in the world 82 Fast Company named Morgan Stanley in its list of Best Workplaces for Innovators in 2020 and 2021 83 Great Place to Work Institute Japan in 2007 ranked Morgan Stanley as the second best corporation to work in Japan based on the opinions of the employees and the corporate culture 84 The Times listed Morgan Stanley 5th in its 20 Best Big Companies to Work For 2006 85 Morgan Stanley was named one of the 100 Best Companies for Working Mothers in 2004 by Working Mother 86 Family Digest named Morgan Stanley one of the Best Companies for African Americans in June 2004 87 Lawsuits Edit2000s Edit In 2003 Morgan Stanley agreed to pay 125 million to settle its portion of a 1 4 billion settlement of a suit brought by Eliot Spitzer the Attorney General of New York the National Association of Securities Dealers now the Financial Industry Regulatory Authority FINRA the United States Securities and Exchange Commission SEC and a number of state securities regulators relating to intentionally misleading research motivated by a desire to win investment banking business with the companies covered 88 In 2004 Morgan Stanley settled a sex discrimination suit brought by the Equal Employment Opportunity Commission for 54 million 89 In 2007 the firm agreed to pay 46 million to settle a class action lawsuit brought by eight female brokers 90 In July 2004 the firm paid NASD a 2 2 million fine for more than 1 800 late disclosures of reportable information about its brokers 91 In September 2004 the firm paid a 19 million fine imposed by NYSE for failure to deliver prospectuses to customers in registered offerings inaccurate reporting of certain program trading information short sale violations failures to fingerprint new employees and failure to timely file exchange forms 92 The New York Stock Exchange imposed a 19 million fine on January 12 2005 for alleged regulatory and supervisory lapses At the time it was the largest fine ever imposed by the NYSE 93 On May 16 2005 a Florida jury found that Morgan Stanley failed to give adequate information to Ronald Perelman about Sunbeam thereby defrauding him and causing damages to him of 604 million In addition punitive damages were added for total damages of 1 450 billion This verdict was directed by the judge as a sanction against Morgan Stanley after the firm s attorneys infuriated the court by failing and refusing to produce documents and falsely telling the court that certain documents did not exist 94 The ruling was overturned on March 21 2007 and Morgan Stanley was no longer required to pay the 1 57 billion verdict 95 Morgan Stanley settled a class action lawsuit on March 2 2006 It had been filed in California by both current and former Morgan Stanley employees for unfair labor practices instituted to those in the financial advisor training program Employees of the program had claimed the firm expected trainees to clock overtime hours without additional pay and handle various administrative expenses as a result of their expected duties A 42 5 million settlement was reached and Morgan Stanley admitted no fault 96 In May the firm agreed to pay a 15 million fine The Securities and Exchange Commission accused the firm of deleting emails and failing to cooperate with SEC investigators 97 FINRA announced a 12 5 million settlement with Morgan Stanley on September 27 2007 This resolved charges that the firm s former affiliate Morgan Stanley DW Inc MSDW failed on numerous occasions to provide emails to claimants in arbitration proceedings as well as to regulators The company had claimed that the destruction of the firm s email servers in the September 11 attacks in 2001 terrorist attacks on New York s World Trade Center resulted in the loss of all emails before that date In fact the firm had millions of earlier emails that had been retrieved from backup copies stored in another location that was not destroyed in the attacks 98 Customers who had lost their arbitration cases against Morgan Stanley DW Inc because of their inability to obtain these emails to demonstrate Morgan Stanley s misconduct received a token amount of money as a result of the settlement In July 2007 Morgan Stanley agreed to pay 4 4 million to settle a class action lawsuit The firm was accused of incorrectly charging clients for storage of precious metals 99 Under a settlement with New York Attorney General Andrew M Cuomo the firm agreed to repurchase approximately 4 5 billion worth of auction rate securities The firm was accused of misrepresenting auction rate securities in their sales and marketing 100 In March 2009 FINRA announced Morgan Stanley was to pay more than 7 million for misconduct in the handling of the accounts of 90 Rochester New York area retirees 101 The Financial Services Authority fined the firm 1 4m for failing to use controls properly relating to the actions of a rogue trader on one of its trading desks Morgan Stanley admitted on June 18 2008 this resulted in a 120m loss for the firm 102 2010s Edit In April the Commodity Futures Trading Commission announced the firm agreed to pay 14 million related to an attempt to hide prohibited trading activity in oil futures 103 Garth R Peterson one of Morgan Stanley s highest ranking real estate executives in China pleaded guilty on April 25 to violating U S federal anti corruption laws He was charged with secretly acquiring millions of dollars worth of property investments for himself and a Chinese government official The official steered business to Morgan Stanley 104 Morgan Stanley agreed to pay a 5 million fine to the Commodity Futures Trading Commission and an additional 1 75 million to CME and the Chicago Board of Trade Morgan Stanley employees improperly executed fictitious sales in Eurodollar and Treasury Note futures contracts 105 On August 7 2012 it was announced that Morgan Stanley would pay 4 8 million in fines to settle a price fixing scandal which had been estimated to have cost New Yorkers 300 million to date Morgan Stanley made no admission of any wrongdoing however the Justice Department commented that they hoped this would send a message to the banking industry 106 In Morgan Stanley v Skowron 989 F Supp 2d 356 S D N Y 2013 applying New York s faithless servant doctrine to a case involving Morgan Stanley s hedge fund subsidiary United States District Judge Shira Scheindlin held that a hedge fund s employee engaging in insider trading in violation of his company s code of conduct which also required him to report his misconduct must repay his employer the full 31 million his employer paid him as compensation during his period of faithlessness 107 108 109 110 Judge Scheindlin called the insider trading the ultimate abuse of a portfolio manager s position 108 The judge also wrote In addition to exposing Morgan Stanley to government investigations and direct financial losses Skowron s behavior damaged the firm s reputation a valuable corporate asset 108 In February Morgan Stanley agreed to pay 1 25 billion to the US government as a penalty for concealing the full risk associated with mortgage securities with the Federal Housing Finance Agency citation needed In September 2014 Morgan Stanley agreed to pay 95 million to resolve a lawsuit by the Public Employees Retirement System of Mississippi MissPERS and the West Virginia Investment Management Board Morgan Stanley was accused of misleading investors in mortgage backed securities 111 In May 2015 Morgan Stanley was fined 2 million for short interest reporting and rule violations for more than six years by FINRA 112 February 2016 Morgan Stanley will pay 3 2 billion to settle with state and federal authorities over Morgan Stanley s creation of mortgage backed bonds before the financial crisis 113 August 2016 Morgan Stanley Hong Kong Securities Ltd was fined HK 18 5 million 2 4 million by Hong Kong s securities regulator Securities and Futures Commission for violations of Hong Kong s Code of Conduct Included was Morgan Stanley s failure to avoid a conflict of interest between principal and agency trading 114 December 2016 another unit of Morgan Stanley paid 7 5 million to settle customer protection rule violations 115 In January 2017 the corporation was fined 13 million due to overbilling and violating investor asset safeguarding custody rules Morgan Stanley agreed to pay the fine without commenting on the charges 115 Douglas E Greenberg a broker was fired in 2018 after it was reported that four women from Lake Oswego Oregon had sought police protection against him over a 15 year period on allegations of harassment threats and assault 116 117 118 119 According to the report Morgan Stanley executives were aware of the allegations and knew of at least two arrests and a federal subpoena against him but did not take any action 116 120 The story was called a MeToo moment for Portland s financial service industry 118 He managed tens of millions of dollars and had made the 2018 Forbes list for top wealth advisors in Oregon 116 121 In December 2018 FINRA announced a 10 million fine against Morgan Stanley for failures in its anti money laundering compliance Morgan Stanley violated the Bank Secrecy Act over a period of five years 122 In April 2019 Morgan Stanley agreed to pay 150 million to settle charges that it had misled two large California public pension funds about the risks of mortgage backed securities 123 California Attorney General Xavier Becerra commented Morgan Stanley lied about the risk of its products and put profits over teachers and public employees who relied on its advice Morgan Stanley denied wrongdoing 124 In November 2019 Morgan Stanley fired or placed on leave four traders for suspected securities mismarking The firm suspected that 100 140 million in losses were concealed by the mismarking of the value of the securities 125 Morgan Stanley paid a 1 5 million fine to settle SEC claims that it put client money into more expensive mutual fund share classes when cheaper options were available despite representations to clients that it used tools to find the least costly option 126 2020s Edit 2020 Edit In May 2020 Morgan Stanley agreed to pay a 5 million penalty to settle allegations made by the SEC that the corporation provided misleading information to some clients in the retail wrap fee programs regarding trade execution services and transaction costs 127 Current and former chief executives EditThe position of chief executive was known as president until 1991 the position was not in use between 1961 and 1970 as Morgan Stanley was a partnership during this period 128 Harold Stanley 1935 1951 Perry Hall 1951 1961 Samuel B Payne 1970 1971 Chester H Lasell 1971 1972 Robert H B Baldwin 1973 1982 S Parker Gilbert 1983 1984 Richard B Fisher 1984 1997 Phil Purcell 1997 2005 John Mack 2005 2009 James P Gorman 2009 present 129 Global and other headquarters EditThe Morgan Stanley world headquarters are located in New York City the European headquarters are in London Asia Pacific headquarters are in both Hong Kong and Tokyo Canada headquarters in Toronto 130 131 Notable alumni EditThis section needs additional citations for verification Please help improve this article by adding citations to reliable sources in this section Unsourced material may be challenged and removed Find sources Morgan Stanley news newspapers books scholar JSTOR March 2019 Learn how and when to remove this template message Dan Ammann former General Motors President Chief Executive Officer Cruise Automation 132 Barton Biggs author and hedge fund manager Erskine Bowles Clinton White House Chief of Staff Mike Chen YouTuber 133 Richard A Debs Chairman of Carnegie Hall Middle East power broker Bob Diamond former Chief Executive Officer Barclays Richard B Fisher Chairman of the Board Rockefeller University and Bard College member Trilateral Commission William E Ford General Atlantic Chairman and CEO Bob Diamond former Chief Executive Officer Barclays Eric Gleacher Founder of Gleacher amp Co Nina Godiwalla author of Suits A Woman on Wall Street Robert F Greenhill founder of Greenhill amp Co David Grimaldi Chief Administrative Officer New Castle County Government John Havens former President Citigroup Inc Lindsay Goldberg pioneering buy out firm founded by alumni Alan Goldberg and Bob Lindsay in 2001 Nigel MacEwan former Chief Executive Officer Kleinwort Benson North America former President Merrill Lynch John J Mack Chairman of the Board of New York Presbyterian Hospital Raymond J McGuire President Lazard Ltd Mary Meeker Kleiner Perkins partner and founder Bond Capital Mitchell M Merin financial executive Eileen Murray Co President Bridgewater Associates Fahad Al Mubarak Governor Saudi Central Bank Thomas R Nides United States Ambassador to Israel Dr Ann Olivarius Chair McAllister Olivarius trans Atlantic employment and discrimination lawyer Stephen A Oxman Assistant Secretary of State Chair Princeton University Board of Trustees Vikram Pandit former Chief Executive Officer Citigroup Joseph R Perella philanthropist Founder of Perella Weinberg Partners Charles E Phillips former President of Oracle Inc C E O of Infor Ruth Porat Chief Financial Officer Alphabet Inc Frank Quattrone Founder Qatalyst Group Steven Rattner private equity manager and commentator Stephen S Roach Yale University professor Benjamin M Rosen Co founder Compaq Computer Chairman California Institute of Technology David E Shaw hedge fund manager Chip Skowron hedge fund portfolio manager convicted of insider trading Bjarne Stroustrup developer of the C programming language 134 Thomas O Staggs COO and CFO Disney Charles F Stewart Sotheby s CEO John J Studzinski CBE American British investment banker and philanthropist Sir David Walker Chairman Barclays PLC Kevin Warsh G W Bush economic advisor Member Federal Reserve Board of Governors Byron Wien legendary investment strategist Blackstone Inc See also Edit New York City portal Companies portal Banks portalDean Witter Reynolds Discover Card MSCI Van Kampen Funds Metalmark Capital formerly Morgan Stanley Capital Partners Morgan Stanley Smith Barney a joint venture with CitigroupNotes Edit Morgan Stanley 2022 Proxy statement SEC gov U S Securities and Exchange Commission April 8 2022 a b c Morgan Stanley 2022 Form 10 K Annual Report SEC gov U S Securities and Exchange Commission February 24 2023 Basel III Pillar 3 Disclosures Report For the Quarterly Period Ended December 31 2019 PDF Fortune 500 Companies 2021 Morgan Stanleyt Fortune Retrieved May 10 2022 a b Morgan Stanley Interactive Timeline www morganstanley com Archived from the original on March 23 2016 Retrieved May 14 2018 Morgan Stanley Chairman and CEO Philip J Purcell Announces Plans to Retire Morgan Stanley Retrieved May 14 2018 SECURITIES AND EXCHANGE COMMISSION WASHINGTON D C 20549 FORM 10 K Morgan Stanley Dean Witter Discover amp Co PDF Morgan Stanley History of Morgan Stanley Dean Witter amp Company FundingUniverse www fundinguniverse com Retrieved May 14 2018 a b c McGeehan Patrick 2001 THE MARKETS Market Place Morgan Stanley decides to drop the Dean Witter name The New York Times ISSN 0362 4331 Retrieved May 14 2018 a b MORGAN STANLEY S NEW BRAND UNVEILS TUESDAY Retrieved May 14 2018 Wile Rob DUELS BOMBINGS AND APPLE The Incredible Story Behind The Creation Of JPMorgan Chase Business Insider Retrieved April 27 2020 a b Bazoobandi Sara 2013 The Political Economy of the Gulf Sovereign Wealth Funds A Case Study of Iran Kuwait Saudi Arabia and the United Arab Emirates Routledge ISBN 978 0 415 52222 9 Knee Jonathan A August 15 2006 The Accidental Investment Banker Inside the Decade that Transformed Wall Street Oxford University Press ISBN 978 0 19 992414 1 Committee United States Congress House Temporary National Economic 1939 Investigation of Concentration of Economic Power Hearings Before the Temporary National Economic Committee U S Government Printing Office Saxon Wolfgang July 18 1992 Perry E Hall Founding Partner Of Morgan Stanley Is Dead at 96 The New York Times ISSN 0362 4331 Retrieved April 27 2020 World Bank Back in U S Debt Market The New York Times December 10 1975 ISSN 0362 4331 Retrieved April 27 2020 Alumni Awards 2001 Dick Fisher HBS edu July 2 2001 Retrieved September 3 2014 Pak Susie J June 1 2013 Gentlemen Bankers Harvard University Press ISBN 978 0 674 07557 3 Bleakley Fred R June 17 1985 Goldman s Rise in Real Estate The New York Times ISSN 0362 4331 Retrieved April 27 2020 Chernow Ron January 19 2010 The House of Morgan An American Banking Dynasty and the Rise of Modern Finance Grove Atlantic Inc ISBN 978 0 8021 9813 6 Tribune Chicago VAN KAMPEN NEARING SALE TO MORGAN STANLEY chicagotribune com Retrieved April 27 2020 Truell Peter February 6 1997 Morgan Stanley and Dean Witter Agree to Merge The New York Times ISSN 0362 4331 Retrieved April 27 2020 Dean Witter to Buy Morgan Stanley in 10 Billion Deal Los Angeles Times February 6 1997 Retrieved April 27 2020 Newswires Cheryl Winokur MunkDow Jones January 30 2001 Morgan Stanley to Eliminate Dean Witter From Its Name The Wall Street Journal ISSN 0099 9660 Retrieved April 27 2020 John Satish Nambisan Raj February 22 2007 U turn Finally Nimesh Kampani sells out to Morgan Stanley DNA India Retrieved August 7 2021 Morgan Stanley Case Study PDF FEMA Retrieved April 27 2020 Stewart James B February 4 2002 The Real Heroes Are Dead The New Yorker Retrieved April 27 2020 Train named after Cornish 9 11 hero BBC News April 13 2019 Retrieved April 27 2020 Surviving 9 11 gave former NHLer Rob Cimetta a new outlook on life Archived from the original on October 28 2009 Retrieved September 11 2009 Morgan Stanley 2005 Charitable Annual Report PDF Archived from the original PDF on March 9 2007 Retrieved May 5 2007 At Children s Hospitals Friendly Designs The New York Times November 17 2002 NewYork Presbyterian Morgan Stanley Children s Hospital Columbia University Department of Surgery columbiasurgery org Retrieved April 27 2020 Moyer Liz June 13 2005 Lame Duck Purcell Forbes Website Retrieved March 22 2008 Thomas Landon Jr April 21 2005 Morgan Stanley Exodus Continues as 8 Traders Leave The New York Times Retrieved March 22 2008 Chief Will Leave Morgan Stanley Ending Struggle The New York Times June 14 2005 Only the Men Survive New York Magazine The Reward for Leaving 113 Million The New York Times July 8 2005 Morgan Stanley to Spin Off Discover Unit Bloomberg com December 19 2006 Retrieved April 27 2020 Distribution of Discover Financial Services Common Stock Morgan Stanley Stockholder Tax Basis Information Morgan Stanley Retrieved January 27 2021 Morgan Stanley Kampani end JV The Times of India February 23 2007 Retrieved August 7 2021 Morgan parts ways with JM Financial The Economic Times February 23 2007 Retrieved August 7 2021 Morgan Stanley In India Receives Merchant Banking License and Announces Two Senior Appointments Morgan Stanley October 10 2007 Retrieved August 1 2021 Morgan Stanley posts loss on writedown Joe Bel Bruno Archived from the original on December 21 2007 Retrieved December 19 2007 Merced Michael J de la Bradsher Keith December 19 2007 Morgan Stanley to Sell Stake to China Amid Loss The New York Times ISSN 0362 4331 Retrieved April 27 2020 Patterson Scott D The Quants How a New Breed of Math Whizzes Conquered Wall Street and Nearly Destroyed It Crown Business 352 pages 2010 ISBN 0 307 45337 5 ISBN 978 0307453372 Amazon page for book Specifically in an excerpt from Chapter 10 The August Factor in the January 23 2010 Wall Street Journal Morgan Stanley to Advise U S on Fannie and Freddie The New York Times August 6 2008 Retrieved August 11 2008 Kudla David Morgan Stanley s future is bright for investors MarketWatch Jagger Suzy September 19 2008 Morgan Stanley perplexes Wall Street as bank loses 20bn The Times Retrieved December 24 2018 Duff McDonald Last Man Standing 2009 Wall Street in crisis Last banks standing give up investment bank status The Guardian London September 22 2008 Goldman Morgan Stanley Bring Down Curtain on an Era Bloomberg September 22 2008 Mitsubishi UFJ Financial Group to Invest 9 billion in Morgan Stanley September 29 2008 Archived from the original on October 2 2008 Retrieved October 2 2008 Andrew Ross Sorkin 2009 Too Big to Fail Viking pp 517 18 Behold The 9 Billion Check That Rescued Morgan Stanley Business Insider November 20 2009 Archived from the original on August 31 2020 Retrieved October 14 2020 Morgan Stanley September 16 2020 Episode 04 Surviving the Crisis Timestamp 14 23 YouTube Archived from the original on October 30 2021 Retrieved October 14 2020 a href Template Cite web html title Template Cite web cite web a CS1 maint location link Fed give OK to Mitsubishi Morgan Stanley deal Reuters October 6 2008 Retrieved April 14 2012 Mitsubishi UFJ buys 21 stake in Morgan Stanley USA Today October 13 2008 Retrieved April 14 2012 Clark Andrew Bowers Simon October 11 2008 Morgan Stanley hangs on Mitsubishi s 9bn pledge The Guardian London Retrieved April 14 2012 Sato Shigeru Taniguchi Takako April 2 2012 Mitsubishi UFJ Mulls Multi Billion Dollar U S Bank Acquisition Bloomberg Retrieved April 14 2012 Morgan Stanley Speculating to Brink of Collapse Got 107 Billion From Fed Bloomberg August 22 2011 Retrieved December 23 2014 Morgan Stanley Pledges Billion to Boost Sustainability Bloomberg Cheung Sonja July 7 2014 Morgan Stanley Asia Private Equity Fund Raises 1 7 Billion The Wall Street Journal Retrieved July 11 2014 Morgan Stanley to cut 25 of fixed income jobs in next 2 weeks Gulf News Retrieved December 1 2015 Morgan Stanley 4Q2015 Earnings Release PDF a b Merced Michael J de la Kelly Kate Flitter Emily June 16 2020 Morgan Stanley to Buy E Trade Linking Wall Street and Main Street The New York Times Retrieved October 8 2020 a b Manskar Noah October 2 2020 Morgan Stanley officially closes all stock E Trade takeover deal New York Post a b Morgan Stanley Closes Acquisition of Eaton Vance Press release Morgan Stanley March 1 2021 Retrieved August 20 2021 Hirsch Lauren December 6 2022 Morgan Stanley Cuts 2 of Global Work Force as Deal Making Slows The New York Times Retrieved May 1 2023 Natarajan Sridhar Doherty Katherine May 1 2023 Morgan Stanley Plans 3 000 More Job Cuts as Dealmaking Slumps Bloomberg com Retrieved May 1 2023 Natarajan Sridhar May 1 2023 Morgan Stanley Plans 3 000 More Job Cuts as Dealmaking Slumps Bloomberg com Retrieved May 1 2023 Son Hugh May 2 2023 Wall Street layoffs Morgan Stanley CNBC Retrieved May 2 2023 FINS com Morgan Stanley Overview Retrieved July 19 2010 Casteleyn Jonathan March 4 2013 Morgan Stanley and Goldman have bigger bond exposure than Bank of America and Citi Market Realist Market Realist Inc Retrieved September 11 2014 Morgan Stanley and Citi To Form Industry Leading Wealth Management Business Through Joint Venture Press release January 13 2009 Archived from the original on January 29 2015 Retrieved October 2 2020 Morgan Stanley Advises Citigroup of Intention to Exercise Right to Purchase an Additional 14 Percent of Morgan Stanley Smith Barney Press release May 31 2012 Morgan Stanley Receives Final Regulatory Approvals to Purchase Remaining 35 Interest in MSSB Wealth Management Joint Venture Fulfilling Key Strategic Priority Morgan Stanley June 21 2013 Archived from the original on January 29 2015 Retrieved September 21 2014 Hoffman Liz February 11 2019 Morgan Stanley in Its Biggest Deal Since Crisis Courts Future Millionaires Wall Street Journal Invesco to Buy Morgan Stanley Unit for 1 5 Billion Deal Book The New York Times October 19 2009 Retrieved October 20 2009 Morgan Stanley announces strategic partnership with Longchamp Asset Management and La Francaise AM Schroder GAIA platform onboards the GAIA Avoca Credit fund hedgeweek com September 29 2013 Morgan Stanley Investment Management Completes Acquisition of Mesa West Capital LLC IFR Awards 2020 The winners The world s best investment bank 2021 How Morgan Stanley thrived in a year of challenge September 10 2021 Best Workplaces for Innovators Great Place to Work Institute Greatplacetowork europe com February 18 2010 Archived from the original on December 1 2008 Retrieved July 9 2011 Times 20 Best Big Companies to Work For 2006 list The Times London March 5 2006 Retrieved February 8 2007 2018 Working Mother 100 Best Companies Working Mother Retrieved November 4 2019 Family Digest s Second Annual Best Companies for African Americans Awards Ulick Jake April 28 2003 Wall St deal is finalized CNN Retrieved April 11 2012 EEOC AND MORGAN STANLEY ANNOUNCE SETTLEMENT OF SEX DISCRIMINATION LAWSUIT EEOC July 12 2004 Retrieved April 11 2012 Anderson Jenny April 25 2007 Wall St Firm Will Settle Sex Bias Suit NYT Retrieved April 11 2012 NASD Fines Morgan Stanley 2 2 Million for Late Reporting Firm Temporarily Suspended from Registering New Brokers Financial Industry Regulatory Authority July 29 2004 Archived from the original on October 4 2014 Retrieved April 11 2012 NYSE Regulation Announces a 19 Million Agreement with Morgan Stanley Citing Failure to Deliver Customer Prospectuses and Other Supervisory and Operational Failures NYSE September 22 2004 Archived from the original on December 10 2012 Retrieved April 11 2012 The New York Stock Exchange NYSE has hit US investment bank Morgan Stanley with a record 19m 10m fine January 12 2005 Retrieved April 12 2012 Barton Jill May 19 2005 Jury Orders Firm to Pay Perelman 1 4 Billion Morgan Stanley Cited for Fraud In Coleman Sale The Washington Post Morgan Stanley has billionaire Perelman s 1 58 billion award reversed in Sunbeam lawsuit International Herald Tribune March 29 2009 Archived from the original on February 17 2008 Retrieved July 9 2011 Morgan Settles Suit on Overtime Los Angeles Times March 3 2006 Retrieved July 9 2011 More E Mail Problems More Fines For Morgan Stanley InformationWeek Retrieved April 20 2011 FINRA News Release Finra org Archived from the original on May 10 2008 Retrieved July 9 2011 Morgan Stanley to settle class action lawsuit Reuters June 12 2007 Retrieved April 20 2012 Morgan Stanley Agrees to ARS Buy Back Deal Fines AdvisorOne Archived from the original on May 30 2013 Retrieved April 20 2011 Morgan Stanley to Pay More than 7 Million to Resolve FINRA Charges Relating to Misconduct in Early Retirement Investment Promotion FINRA Archived from the original on October 19 2011 Retrieved April 20 2012 Treanor Jill May 13 2009 FSA fines Morgan Stanley 1 4m over rogue trader The Guardian London Retrieved April 20 2012 In another Wall Street misdeed Morgan Stanley settles oil trading flap McCaltchyDC Retrieved April 20 2012 Lattman Peter April 25 2012 Morgan Stanley Executive Pleads Guilty to Violating Anticorruption Laws The New York Times Retrieved April 25 2012 Morgan Stanley Will Pay 6 75M Over Claims Archived from the original on May 6 2013 Retrieved June 7 2012 Bank To Pay 4 8 Million To Settle Charges That Cost Customers 300 Million Huffington Post August 7 2012 Glynn Timothy P Arnow Richman Rachel S Sullivan Charles A 2019 Employment Law Private Ordering and Its Limitations Wolters Kluwer Law amp Business ISBN 9781543801064 via Google Books a b c Jerin Matthew December 20 2013 Faithless Ex Morgan Stanley Fund Manager Ordered to Repay 31m to Former Employer International Business Times UK Henning Peter J December 23 2013 The Huge Costs of Being a Faithless Servant New York Times DealBook Morgan Stanley seeks 10 2 million from convicted former trader GreenwichTime January 15 2013 Morgan Stanley to pay 95 million in U S mortgage debt settlement Reuters September 9 2014 Morgan Stanley fined 2M over short interest violations USA Today May 13 2015 Morgan Stanley to Pay 3 2 Billion Over Flawed Mortgage Bonds The New York Times February 11 2016 Morgan Stanley Fined 2 4M on Internal Control Failures Zacks com August 25 2016 a b Morgan Stanley to pay 13 million for overbilling clients SEC Reuters January 13 2017 Retrieved January 15 2017 a b c Flitter Emily March 28 2018 Morgan Stanley Knew of a Star s Alleged Abuse He Still Works There The New York Times ISSN 0362 4331 Retrieved March 29 2018 Disgraced broker still tweeting to clients with tax advice New York Post March 29 2018 Retrieved March 29 2018 a b Morgan Stanley knew of abuse allegations against Lake Oswego broker report OregonLive com Retrieved March 29 2018 Flitter Emily April 3 2018 Morgan Stanley Fires Broker With History of Abuse Claims The New York Times Retrieved August 20 2021 Morgan Stanley s executives knew of an employee s alleged abuse he still works there Toronto Star Retrieved March 30 2018 Best In State Wealth Advisors Forbes Retrieved March 29 2018 Buckman Caitlyn FINRA Fines Morgan Stanley For Five Years Of Ineffective Anti Money Laundering Monitoring Syracuse Law Review Retrieved November 17 2019 Morgan Stanley to pay 150 million to settle California crisis era mortgage charges Reuters April 25 2019 Retrieved November 17 2019 Attorney General Becerra Announces 150 Million Settlement Against Morgan Stanley for Misleading California s Teachers and Workers with Pensions State of California Department of Justice Office of the Attorney General April 25 2019 Retrieved November 17 2019 Stefania Spezzati Donal Griffin and Viren Vaghela November 28 2019 Morgan Stanley Ousts FX Traders as It Probes Concealed Loss Bloomberg a href Template Cite web html title Template Cite web cite web a CS1 maint multiple names authors list link SEC fines Morgan Stanley 1 5m over alleged share class violations sjo3ekt js Retrieved November 17 2019 Sebastian Dave May 12 2020 Morgan Stanley to Pay 5 Million Settlement on Wrap Fee Claims The Wall Street Journal Retrieved August 20 2021 Overview of Morgan Stanley Operating Committee Morgan Stanley Retrieved February 19 2020 Morgan Stanley in the United Kingdom Morganstanley com Retrieved July 9 2011 Morgan Stanley in Hong Kong Morganstanley com Retrieved July 9 2011 White Joseph November 29 2018 GM President Ammann will take over Cruise self driving car unit Reuters Retrieved January 2 2020 Fierberg Emma Huddleston Tom Jr July 13 2019 Strictly Dumpling YouTuber Mike Chen s best and most expensive food day ever CNBC Retrieved May 9 2022 Bjarne Stroustrup Morgan Stanley Retrieved January 21 2021 References EditChernow Ron 1990 The House of Morgan Hibbard J January 17 2005 Morgan Stanley No stars and lots of top tech IPOs BusinessWeek 56 58 John Mack Elected Chairman and CEO of Morgan Stanley Partnoy Frank F I A S C O New York Penguin Books 1997 Further reading EditPatricia Beard 2008 Blue Blood and Mutiny The Fight for the Soul of Morgan Stanley External links EditOfficial website Business data for Morgan Stanley GoogleSEC filingsYahoo Retrieved from https en wikipedia org w index php title Morgan Stanley amp oldid 1153746124, wikipedia, wiki, book, books, library,

article

, read, download, free, free download, mp3, video, mp4, 3gp, jpg, jpeg, gif, png, picture, music, song, movie, book, game, games.