Morgan Stanley

Morgan Stanley is a global financial powerhouse headquartered in New York City, with a presence in 42 countries and over 80,000 employees. The firm serves a diverse clientele including corporations, governments, institutions, and individuals, offering services in investment banking, wealth management, and investment management. In 2023, it ranked No. 61 on the Fortune 500 and No. 30 on the Forbes Global 2000, reflecting its scale and influence.

The company was born on September 16, 1935, when the Glass-Steagall Act forced the separation of commercial and investment banking. J.P. Morgan & Co. partners Henry Sturgis Morgan (grandson of J.P. Morgan) and Harold Stanley, along with others, founded the original Morgan Stanley. In its first year, it captured a 24% market share, handling $1.1 billion in public offerings and private placements.

The modern Morgan Stanley emerged from the 1997 merger with Dean Witter Discover & Co. Philip J. Purcell, Dean Witter's chairman and CEO, took the helm of the combined entity, initially named Morgan Stanley Dean Witter Discover & Co. The firm reclaimed the Morgan Stanley name in 2001. Today, its core businesses are institutional securities, wealth management, and investment management, and it is deemed systemically important by the Financial Stability Board. [edit]