What Year Was Morgan Stanley Founded

American financial services visitor

Morgan Stanley
Type Public

Traded every bit

  • NYSE: MS
  • S&P 100 component
  • Due south&P 500 component
Industry Fiscal services
Founded
  • 1935 (the original Morgan Stanley)
  • 1924 (Dean Witter & Co.)
  • 1931 (Reynolds Securities)
Founder
  • Henry Sturgis Morgan
  • Harold Stanley
  • Dean G. Witter
  • Richard S. Reynolds, Jr.
Headquarters Morgan Stanley Building
New York City, New York, U.S.

Expanse served

International service

Key people

James P. Gorman
(Chairman & CEO)
Ted Option
(Co-President)
Andy Saperstein
(Co-President)
Jonathan Pruzan
(Principal Operating Officer)
Sharon Yeshaya
(CFO)
Products Investment cyberbanking, Sales and trading, Commodities, Prime brokerage, Wealth management, Investment direction
Revenue Increase
US$59.viii billion
(2021)

Operating income

Increase
United states of america$xix.7 billion (2021)

Internet income

Increase
US$xv.1 billion (2021)
AUM Increase
United states of america$half dozen,495 billion (2021)
Total assets Increase
US$1,118 billion (2021)
Total disinterestedness Increase
United states$105.44 billion (2021)
Owner MUFG (21.vi%)[one]

Number of employees

75,000 (2021)
Subsidiaries
  • Morgan Stanley Wealth Management
  • E-Merchandise
  • Eaton Vance
  • Solium
  • StraitNZ
  • FrontPoint Partners
  • Jeonju Newspaper
  • (58%)
Majuscule ratio 16.0% (FY 2021)
Website morganstanley.com
Footnotes / references

[2]
[three]

Morgan Stanley
is an American multinational investment management and financial services company headquartered at 1585 Broadway in Midtown Manhattan, New York City. With offices in more than than 41 countries and more than 75,000 employees, the firm’southward 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 acquirement.[4]

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 twelvemonth, the company operated with a 24% market share (United states$1.1 billion) in public offerings and individual placements.

The current Morgan Stanley is the result of the merger of the original Morgan Stanley with Dean Witter Find & 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 house inverse its name back to “Morgan Stanley” in 2001.[8]
[9]
[10]
The principal areas of business organisation for the firm today are institutional securities, wealth management and investment management. The bank is considered systemically important by the Financial Stability Board.

Overview

[edit]

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 3 business segments: Institutional Securities, Wealth Management, and Investment Direction.[ii]

History

[edit]


The original Morgan Stanley (1935–1997)

[edit]

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 nether a single holding entity.[11]
[12]
J.P. Morgan & Co. chose the commercial cyberbanking business over the investment banking business. Every bit a result, some of the employees of J.P. Morgan & Co., nigh 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 the doors for business on September 16, 1935, at 2 Wall Street, New York City, simply 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 house also obtained the distinction of being the lead syndicate in the 1939 U.S. rails financing.[
commendation needed
]

The firm went through a reorganization in 1941 to allow for more than activeness in its securities business organisation.[
citation needed
]

The firm was led by Perry Hall, the concluding founder to lead Morgan Stanley, from 1951 until 1961.[15]
During this period, the house co-managed the World Bank’s triple-A-rated bonds offering of 1952,[16]
as well as coming up with General Motors’ US$300 one thousand thousand debt issue,[
citation needed
]

US$231 meg IBM stock offer,[
commendation needed
]

and the US$250 meg AT&T’s debt offering.[
commendation needed
]

Morgan Stanley credits itself with having created the outset viable computer model for fiscal analysis in 1962, thereby starting a new tendency 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.[xviii]
The house acquired Brooks, Harvey & Co., Inc. in 1967 and established a presence in the real manor business organisation.[19]
The sales and trading concern is believed to exist the brainchild of Bob Baldwin.[twenty]

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


Morgan Stanley later on the merger (1997–present)

[edit]

Current Morgan Stanley Logo 2013

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 aforementioned roles in the newly merged “Morgan Stanley Dean Witter Discover & Co.” Morgan Stanley’due south 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 exist the combination of the two predecessor companies in society to avoid tension betwixt the 2 firms.[9]
Eventually in 2001 “Dean Witter” was further dropped and the proper noun became “Morgan Stanley” for unrevealed reasons.[9]
[10]
The merged house began expanding overseas operations: in 1999, Mack set upwards a articulation venture in Bharat with local partner JM Financial.[25]

Morgan Stanley had offices located on 35 floors across buildings 1, 2, and 5 of the World Trade Eye, and was the largest tenant of the WTC circuitous. 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 xi 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 Managing director Rick Rescorla) in the towers, while two,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 fourth dimension the largest such move.[29]

Morgan Stanley Children’s Infirmary of New York-Presbyterian is the just stand up-solitary pediatric hospital in New York Urban center and is part of New York-Presbyterian Hospital.

In 2003, NewYork–Presbyterian Infirmary named the Morgan Stanley Children’s Infirmary in recognition of the firm’s sponsorship of the infirmary, which largely funded its construction through philanthropy.[xxx]
The initiative began under CEO Philip J. Purcell and was completed under John Mack. Employees at the business firm have been involved with the infirmary since the 1990s and personally donated to the structure of the current kid-friendly building, which opened in Nov 2003.[31]
[32]

The visitor plant itself in the midst of a direction crisis starting in March 2005[33]
that resulted in a loss of the firm’s staff.[34]
Purcell resigned every bit 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, increment gamble, enter the sub-prime mortgage business concern and make expensive acquisitions; the same strategies that forced Morgan Stanley into massive write-downs, related to the subprime mortgage crisis, past 2007.[37]

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

In Feb 2007, Morgan Stanley announced the end of its Indian joint venture: the bank acquired its local partner’s pale in the institutional brokerage business, and sold its own stake in the other businesses.[xl]
[41]
The banking concern and so fix upwards a wholly-owned subsidiary; the land 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 fabricated Head of Investment Banking.[42]

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

The banking concern’s Process Driven Trading unit was amongst several on Wall Street defenseless in a curt squeeze, reportedly losing well-nigh $300 million in one day. The bubble’s subsequent collapse was considered to be a fundamental feature of the financial crisis of 2007–2010.[45]

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

The banking concern Morgan Stanley was reported to accept lost over 80% of its market value between 2007 and 2008 during the financial crisis.[47]
On September 17, 2008, the British evening-news assay programme
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 “nosotros’re in the midst of a market controlled by fear and rumours and short-sellers are driving our stock downwards.” Past September 19, 2008, the share price had slid 57% in four days, and the visitor 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’south Jamie Dimon refused the offer.[49]

Morgan Stanley and Goldman Sachs, the last two major investment banks in the U.s., both appear on September 22, 2008, that they would become traditional bank property companies regulated by the Federal Reserve.[fifty]
The Federal Reserve’s blessing of their bid to get 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 Banking company of America Corp.[51]

MUFG Bank, Japan’s largest bank, invested $ix billion in a direct purchase of a 21% buying stake in Morgan Stanley on September 29, 2008.[52]
The payment from MUFG was supposed to be wired electronically; nevertheless, because information technology needed to be made on an emergency basis on Columbus Mean solar day when banks were closed in the The states, MUFG cut a United states of america$ix billion physical cheque, the largest corporeality written via physical check at the time.[53]
[54]
The concrete check was accepted by Robert A. Kindler, Global Caput of Mergers and Acquisitions and Vice Chairman of Morgan Stanley, at the offices of Wachtell Lipton.[55]
Concerns over the completion of the Mitsubishi bargain during the October 2008 stock market place volatility caused a dramatic fall in Morgan Stanley’s stock price to levels last seen in 1994. It recovered once Mitsubishi UFJ’s 21% pale in Morgan Stanley was completed on October xiv, 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 information 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 organisation in the globe.

In November 2013, Morgan Stanley appear that information technology would invest $1 billion to help amend affordable housing every bit part of a wider push to encourage investment in efforts that aid economic, social and ecology sustainability.[61]

In July 2014, Morgan Stanley’s Asian individual equity arm announced it had raised around $1.7 billion for its 4th fund in the area.[62]

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

In Oct 2020, the company completed its acquisition of Eastward*Trade, a deal appear in February 2020 for $13 billion, the biggest conquering by a U.South. bank since the global financial crisis.[65]
[66]

In March 2021, Morgan Stanley completed its conquering of Eaton Vance, a deal announced in October 2020. With the addition of Eaton Vance, Morgan Stanley now had $5.four trillion of client assets beyond its Wealth Management and Investment Management segments.[67]

Organisation

[edit]

The company’south 3 divisions are as follows:

Institutional Securities Grouping

[edit]

Morgan Stanley’s Institutional Securities is the most profitable business segment. This concern segment provides institutions with investment banking services such equally capital raising and fiscal advisory services such as mergers and acquisitions advisory, restructurings, real estate and project finance, and corporate lending. The segment besides encompasses the Equities and the Stock-still Income divisions of the business firm; trading is anticipated to maintain its position every bit the “engine room” of the visitor.[68]
Among the major U.Southward. banks, Morgan Stanley sources the highest portion of revenues from fixed income underwriting which was reported at 6.0% of full acquirement in FY12.[69]

Wealth Direction

[edit]

The Global Wealth Direction 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 Direction Grouping was merged with Citi’south Smith Barney to class Morgan Stanley Smith Barney. Morgan Stanley owned 51% of the entity, and Citi held 49%.[lxx]
On May 31, 2012, Morgan Stanley exercised its selection to purchase an additional 14% of the joint venture from Citi.[71]
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.[72]

In February 2019, the visitor announced the acquisition of Solium Capital, a manager of employee stock plans, for $900 million.[73]

In Oct 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 nugget management products and services in equity, stock-still income, culling investments, existent manor investment, and private disinterestedness to institutional and retail clients through tertiary-party retail distribution channels, intermediaries and Morgan Stanley’s institutional distribution aqueduct. Morgan Stanley’s asset management activities were principally conducted under the Morgan Stanley and Van Kampen brands until 2009.

On October xix, 2009, Morgan Stanley announced that information technology would sell Van Kampen to Invesco for $1.five billion, merely would retain the Morgan Stanley brand.[74]
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 director that specializes in the distribution of UCITS hedge funds, and La Française AM, a multi-specialist asset manager with a 10-year track tape in alternative investments.[75]

In March 2018, Morgan Stanley caused Mesa West, a leading U.S. commercial existent estate credit platform, adding to its existing investment strategies and product offerings beyond existent assets and private credit.
[76]

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

Awards and honors

[edit]

  • In 2020 Morgan Stanley was named IFR’due south Banking company of the Year,[77]
    and in 2021 Morgan Stanley was named Euromoney’southward all-time investment bank in the world.[78]
  • Fast Company named Morgan Stanley in its list of Best Workplaces for Innovators in 2020 and 2021.[79]
  • Groovy Place to Work Plant Japan
    in 2007 ranked Morgan Stanley as the second best corporation to piece of work in Nihon, based on the opinions of the employees and the corporate culture.[80]
  • The Times
    listed Morgan Stanley 5th in its
    20 Best Big Companies to Work For 2006.[81]
  • Morgan Stanley was named 1 of the 100 All-time Companies for Working Mothers in 2004 by
    Working Female parent.[82]
  • Family Digest
    named Morgan Stanley one of the “All-time Companies for African Americans” in June 2004.[83]

Lawsuits

[edit]

2000s

[edit]

In 2003, Morgan Stanley agreed to pay $125 meg to settle its portion of a $1.4 billion settlement of a arrange brought by Eliot Spitzer, the Attorney General of New York, the National Association of Securities Dealers (now the Financial Manufacture Regulatory Authority (FINRA), the U.s.a. Securities and Exchange Commission (SEC), and a number of state securities regulators, relating to intentionally misleading research motivated past a desire to win investment banking business organisation with the companies covered.[84]

In 2004, Morgan Stanley settled a sex discrimination suit brought by the Equal Employment Opportunity Commission for $54 million.[85]
In 2007, the business firm agreed to pay $46 one thousand thousand to settle a class activity lawsuit brought by eight female brokers.[86]

In July 2004, the firm paid NASD a $2.ii million fine for more than i,800 late disclosures of reportable information almost its brokers.[87]

In September 2004, the business firm paid a $xix million fine imposed by NYSE for failure to deliver prospectuses to customers in registered offerings, inaccurate reporting of certain plan trading information, brusque sale violations, failures to fingerprint new employees and failure to timely file exchange forms.[88]

The New York Stock Exchange imposed a $19 meg fine on January 12, 2005, for alleged regulatory and supervisory lapses. At the time, it was the largest fine e’er imposed past the NYSE.[89]

On May 16, 2005, a Florida jury plant that Morgan Stanley failed to give adequate information to Ronald Perelman virtually Sunbeam thereby defrauding him and causing damages to him of $604 million. In add-on, punitive amercement were added for total damages of $1.450 billion. This verdict was directed past the estimate equally a sanction against Morgan Stanley after the firm’southward attorneys infuriated the court by failing and refusing to produce documents, and falsely telling the court that certain documents did non exist.[xc]
The ruling was overturned on March 21, 2007, and Morgan Stanley was no longer required to pay the $one.57 billion verdict.[91]

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 fiscal advisor training program. Employees of the plan had claimed the firm expected trainees to clock overtime hours without additional pay and handle diverse administrative expenses as a outcome of their expected duties. A $42.5 1000000 settlement was reached and Morgan Stanley admitted no error.[92]

In May the firm agreed to pay a $15 one thousand thousand fine. The Securities and Substitution Commission accused the firm of deleting emails and failing to cooperate with SEC investigators.[93]

FINRA announced a $12.five million settlement with Morgan Stanley on September 27, 2007. This resolved charges that the firm’s former chapter, Morgan Stanley DW, Inc. (MSDW), failed on numerous occasions to provide emails to claimants in arbitration proceedings besides every bit to regulators. The company had claimed that the destruction of the business firm’s email servers in the September eleven attacks in 2001, terrorist attacks on New York’s Globe 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.[94]
Customers who had lost their arbitration cases against Morgan Stanley DW Inc. considering of their disability 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 $iv.4 million to settle a class-action lawsuit. The firm was accused of incorrectly charging clients for storage of precious metals.[95]

Under a settlement with New York Attorney General Andrew One thousand. Cuomo, the firm agreed to repurchase approximately $4.5 billion worth of auction rate securities. The business firm was accused of misrepresenting sale charge per unit securities in their sales and marketing.[96]

In March 2009, FINRA announced Morgan Stanley was to pay more than $vii 1000000 for misconduct in the treatment of the accounts of 90 Rochester, New York-area retirees.
[97]

The Financial Services Authorization fined the firm £1.4m for declining to employ 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 business firm.[98]

2010s

[edit]

In April, the Commodity Futures Trading Committee appear the firm agreed to pay $fourteen one thousand thousand related to an attempt to hide prohibited trading action in oil futures.[99]

Garth R. Peterson, one of Morgan Stanley’south highest-ranking real estate executives in Mainland china, pleaded guilty on April 25 to violating U.Due south. federal anti-abuse laws. He was charged with secretly acquiring millions of dollars’ worth of holding investments for himself and a Chinese authorities official. The official steered business organization to Morgan Stanley.[100]

Morgan Stanley agreed to pay a $5 1000000 fine to the Commodity Futures Trading Commission and an additional $ane.75 million to CME and the Chicago Lath of Trade. Morgan Stanley employees improperly executed fictitious sales in Eurodollar and Treasury Annotation futures contracts.[101]

On August seven, 2012, it was announced that Morgan Stanley would pay $4.eight million in fines to settle a toll-fixing scandal, which had been estimated to have cost New Yorkers $300 million to appointment. Morgan Stanley fabricated no admission of any wrongdoing; however, the Justice Department commented that they hoped this would “send a bulletin to the banking industry”.[102]

In
Morgan Stanley five. Skowron, 989 F. Supp. 2d 356 (Due south.D.N.Y. 2013), applying New York’due south faithless retainer doctrine to a case involving Morgan Stanley’due south hedge fund subsidiary, United States District Guess Shira Scheindlin held that a hedge fund’s employee engaging in insider trading in violation of his company’s code of carry, which as well required him to study his misconduct, must repay his employer the total $31 million his employer paid him as bounty during his menses of faithlessness.[103]
[104]
[105]
[106]
Judge Scheindlin chosen the insider trading the “ultimate corruption of a portfolio managing director’due south position”.[104]
The judge also wrote:”In addition to exposing Morgan Stanley to government investigations and straight financial losses, Skowron’s behavior damaged the house’south reputation, a valuable corporate nugget.”[104]

In February, Morgan Stanley agreed to pay $1.25 billion to the The states authorities, as a penalty for concealing the full gamble associated with mortgage securities with the Federal Housing Finance Bureau.[
citation needed
]

In September 2014, Morgan Stanley agreed to pay $95 meg to resolve a lawsuit by the Public Employees’ Retirement Organisation of Mississippi (MissPERS) and the West Virginia Investment Management Board. Morgan Stanley was accused of misleading investors in mortgage-backed securities.[107]

In May 2015, Morgan Stanley was fined $two million for short interest reporting and rule violations for more than than half dozen years, past FINRA.[108]

February 2016, Morgan Stanley will pay $3.2 billion to settle with country and federal regime over Morgan Stanley’due south creation of mortgage-backed bonds before the financial crisis.[109]

Baronial 2016, Morgan Stanley Hong Kong Securities Ltd. was fined HK$xviii.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’southward failure to avoid a conflict of involvement between principal and agency trading.[110]

December 2016, another unit of Morgan Stanley paid $seven.v million to settle customer protection rule violations.[111]

In January 2017, the corporation was fined $thirteen meg due to overbilling and violating investor nugget safeguarding custody rules. Morgan Stanley agreed to pay the fine without commenting on the charges.[111]

Douglas E. Greenberg, a broker, was fired in 2018 after information technology was reported that four women from Lake Oswego, Oregon, had sought constabulary protection against him over a 15-twelvemonth period on allegations of harassment, threats, and assail.[112]
[113]
[114]
[115]
According to the study, Morgan Stanley executives were aware of the allegations, and knew of at least ii arrests and a federal subpoena against him, merely did not take any action.[112]
[116]
The story was called a #MeToo moment for Portland’s financial service manufacture.[114]
He managed tens of millions of dollars, and had made the 2018
Forbes
list for top wealth advisors in Oregon.[112]
[117]

In December 2018, FINRA announced a $x million fine against Morgan Stanley for failures in its anti-coin laundering compliance. Morgan Stanley violated the Bank Secrecy Act over a menstruum of v years.[118]

In April 2019, Morgan Stanley agreed to pay $150 million to settle charges that it had misled two large California public pension funds most the risks of mortgage-backed securities.[119]
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.[120]

In November 2019, Morgan Stanley fired or placed on leave 4 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.[121]

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 observe the least costly option.[122]

2020s

[edit]

2020

[edit]

In May 2020, Morgan Stanley agreed to pay a $5 one thousand thousand 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.[123]

Current and one-time chief executives

[edit]

The position of main executive was known every bit president until 1991; the position was not in use between 1961 and 1970 as Morgan Stanley was a partnership during this menstruum.
[124]

  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. Due south. 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)[125]

Global and other headquarters

[edit]

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.
[126]
[127]

Notable alumni

[edit]

  • Dan Ammann, Chief Executive Officer, Prowl Automation[128]
  • Barton Biggs, author and hedge fund manager
  • Erskine Bowles, Clinton White House Principal of Staff
  • Mike Chen, YouTuber[129]
  • Richard A. Debs, Chairman of Carnegie Hall; Eye Eastward power-banker
  • Bob Diamond, quondam Primary Executive Officer, Barclays
  • Richard B. Fisher, Chairman * Bob Diamond, onetime Master Executive Officer, Barclays of the Lath, Rockefeller University and Bard College; fellow member, Trilateral Commission
  • Eric Gleacher, Founder of Gleacher & Co.
  • Nina Godiwalla, author of Suits: A Adult female on Wall Street
  • David Grimaldi, Chief Administrative Officer, New Castle County Regime
  • John Havens, former President, Citigroup, Inc.
  • Nigel MacEwan, former Primary Executive Officer, Kleinwort Benson N America; former President, Merrill Lynch
  • John J. Mack, Chairman of the Board of New York-Presbyterian Infirmary
  • Mary Meeker, Kleiner Perkins partner and founder, Bond Capital
  • Mitchell M. Merin, financial executive
  • Eileen Murray, Co-President, Bridgewater Associates
  • Dr. Ann Olivarius, Chair, McAllister Olivarius, trans-Atlantic employment and discrimination lawyer
  • Stephen A. Oxman, Banana Secretarial assistant of Land; 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, erstwhile President of Oracle, Inc.; C.E.O. of Infor
  • Ruth Porat, Chief Financial Officer; Alphabet Inc.
  • Frank Quattrone, Founder, Qatalyst Group
  • Steven Rattner, individual equity manager and commentator
  • Stephen South. Roach, Yale University professor
  • Benjamin Thousand. Rosen, Co-founder, Compaq Computer; Chairman, California Constitute of Applied science
  • David Eastward. Shaw, hedge fund manager
  • Chip Skowron, hedge fund portfolio managing director convicted of insider trading
  • Bjarne Stroustrup, programmer of the C++ programming language
    [130]
  • John J. Studzinski, CBE, American-British investment banker and philanthropist
  • Sir David Walker, Chairman, Barclays PLC
  • Kevin Warsh, G.Due west. Bush economic counselor; Fellow member, Federal Reserve Board of Governors

See also

[edit]

  • Dean Witter Reynolds
  • Discover Card
  • MSCI
  • Van Kampen Funds
  • Metalmark Capital, formerly Morgan Stanley Majuscule Partners
  • Morgan Stanley Smith Barney, a joint venture with Citigroup

Notes

[edit]


  1. ^


    “Morgan Stanley 2022 Proxy statement”.
    SEC.gov. U.S. Securities and Commutation Commission. April eight, 2022.


  2. ^


    a




    b




    c




    “Morgan Stanley 2021 Form 10-G Annual Report”.
    SEC.gov. U.South. Securities and Substitution Committee. February 24, 2022.



  3. ^


    “Basel Three 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




    “Morgan Stanley Interactive Timeline”.
    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-Yard (Morgan Stanley, Dean Witter, Observe & Co.)”
    (PDF).
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References

[edit]

  • Chernow, Ron (1990).
    The House of Morgan.
  • Hibbard, J. (Jan 17, 2005). “Morgan Stanley: No stars—and lots of peak 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

[edit]

  • Patricia Beard (2008).
    Blue Blood and Mutiny: The Fight for the Soul of Morgan Stanley.

External links

[edit]


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



Source: https://en.wikipedia.org/wiki/Morgan_Stanley

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