Morgan Stanley (NYSE: MS; commonly known as "Morgan Stanley") is an international financial services company established in New York, USA, providing financial services including securities, asset management, corporate mergers and restructurings, and credit cards. Morgan Stanley currently has representative offices in more than 1,300 cities in 42 countries around the world, with a total of more than 60,000 employees. The company's clients include companies, governments, institutions and individuals. Morgan Stanley changed the company's registration status to "bank holding company" in September 2008.

The old Morgan Stanley was founded on September 16, 1935, first by J.P. Founded by Morgan partners Henry Sturgis Morgan (grandson of John Pierpont Morgan) and Harold Stanley, the new firm was created in response to the requirements of the Glass-Steagall Act - the separation of commercial and investment banking businesses. Within its first year, Morgan Stanley Sr. was responsible for 24% of the total market capitalization ($1.10 billion).

The new Morgan Stanley was established in 1997 by the merger of the old Morgan Stanley and Tianhui Discover Company. The chairperson and CEO of Tianhui Company became the chairperson and CEO of the new company. The new company was named "Morgan Stanley Dean Witter Discover & Co.". In 2001, the new company was finally renamed "Morgan Stanley". The main business areas of the new Morgan Stanley are securities management, wealth management and investment management.

History

The Old Morgan Stanley (1935-1997)

In 1933, the United States experienced the Great Depression, and the US Congress passed the Glass-Steagall Act, which prohibited the company from providing both commercial and investment banking services. JPMorgan board members Henry Sturgis Morgan and Harold Stanley, among others, co-founded Morgan Stanley, which was established as an investment bank in New York on September 5, 1935 and officially opened on September 16, while JPMorgan Chase was transformed into a pure commercial bank. In 1941 Morgan Stanley partnered with the New York Stock Exchange and became a partner of the exchange.

Morgan Stanley expanded rapidly in the 1970s, rapidly growing from more than 250 employees to more than 1,700, and began to grow its business globally. In 1986 Morgan Stanley listed on the New York Stock Exchange. After entering the 1990s, Morgan Stanley expanded further, acquiring an asset management company in 1995.

New Morgan Stanley (1997-present)

In 1997, the old Morgan Stanley merged with Dean Witter Discover & Co., an investment bank owned by Sears Corporation, and changed its name to "Morgan Stanley Dean Witter Discover & Co." The original name of the new company was formed from the original two company names, in order to prevent the management of the two companies from becoming hostile to each other. In 1998, the new company was renamed "Morgan Stanley Dean Witter & Co."

Times Square Headquarters

The merger of the old Morgan Stanley and Tim & Whitney brought together two of the most individualistic bankers in American finance: John Mack of Morgan Stanley and Philip Purcell of Tim & Whitney. The conflict between the two eventually ended with the departure of Mack in July 2001. From then on, Pei took on the role of chairperson and global CEO of Morgan Stanley. Under his leadership, Morgan Stanley grew into a full-service financial services company, able to offer a full stack of financial products. In 2001, the new company was eventually renamed "Morgan Stanley", although the company tried to maintain the image of its founder, Dean G. Witter, to the outside world in the late 1990s after the merger.

During the September 11, 2001, Morgan Stanley lost 13 employees and 1.20 million square feet of office space in the World Trade Center, but the remaining 2,600 employees survived.

John Mack returned to Morgan Stanley in 2005, succeeding Charles Pei as chairperson and chief executive.

Morgan Stanley and Goldman Sachs, the last two major US investment banks, announced on September 22, 2008 that they would become traditional bank holding companies regulated by the Federal Reserve. The Fed's approval of the bank ended the dominance of securities firms 75 years after Congress separated them from deposit-taking lenders and halted weeks of chaos that bankrupted Lehman Brothers Holdings and led to the emergency sale of Merrill Lynch to Bank of America.

On September 29, 2008, Mitsubishi UFJ Financial Group, Japan's largest bank, invested $9 billion directly to buy a 21% stake in Morgan Stanley. This may be the largest acquisition transaction ever. Concerns about whether Mitsubishi would be able to complete the deal during the stock market turmoil of October 2008 caused Morgan Stanley's share price to drop sharply to the lowest level seen in 1994. MUFJ recovered after it completed the acquisition of a 21% stake in Morgan Stanley on October 14, 2008.

On January 12, 2009, Morgan Stanley and Citigroup formed a new joint venture, Morgan Stanley Smith Barney, making Morgan Stanley the world's largest brokerage firm with 20,390 employees and $1.70 trillion in client assets under management. Citigroup acquired a 49% stake in Morgan Stanley Smith Barney with 100% equity in Smith Barney Securities, Smith Barney in Australia, and Quilter, which provides private investment management services in the UK, and $2.70 billion in cash (excluding Citi Private Bank and Japan's Nikko Cordial Securities). Morgan Stanley acquired a 51% stake in Morgan Stanley Smith Barney with a 100% stake in its global wealth management business.

On October 21, 2009, Morgan Stanley sold its retail investment management business, including the Van Kampen division, to Invesco Ltd., for $1.50 billion in stock and cash. On July 21, 2011, Mitsubishi UFJ converted its Morgan Stanley preference shares into 22.4% of Morgan Stanley common stock.

On September 11, 2012, Morgan Stanley and Citigroup agreed to value their securities joint venture, Morgan Stanley Smith Barney, at $13.50 billion, resolving a months-long dispute. Under the agreement, Morgan Stanley will acquire an additional 14% of Morgan Stanley Smith Barney and the remaining 35% of Citi's shares by June 1, 2015.

In 2013, Morgan Stanley acquired Citigroup's stake in Morgan Stanley Smith Barney, gaining full control of Morgan Stanley Smith Barney.

Morgan Stanley's main warehouse is located in a 750,000-square-foot office building in Manhattan, New York City. At present, Morgan Stanley's financial fields include stocks, bonds, foreign exchange, funds, futures, investment banking, securities underwriting, corporate financial consulting, institutional corporate marketing, real estate, private wealth management, direct investment, institutional investment management, etc.

On February 12, 2019, Morgan Stanley acquired Solium Capital, a Canadian employee share plan manager, for about $900 million at C $19.15 per share in cash

On February 21, 2020, Morgan Stanley exchanged 1.0432 shares for one E * Trade share, equivalent to $58.74 per share, and spent $13 billion to acquire E * Trade