Morgan Stanley
Morgan_stanley_logo.gif
Morgan Stanley
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| Type
| Public
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| Slogan
| One client at a time
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| Founded
| 1935
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| Location
| New York, New York
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| Key people
| Philip Purcell, CEO & Director
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| Employees
| 51,196
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| Products
| Financial Services
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| Web site
| www.morganstanley.com
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Morgan Stanley is an investment bank founded in New York on September 5, 1935. It was split off from JP Morgan in order to comply with the provisions of the Glass-Steagall Act.
On February 5, 1997 the company announced a merger with Dean Witter Discover and Company, the spun-off financial services business of Sears Roebuck. The merged company was briefly known as "Morgan Stanley Dean Witter Discover & Co. " until 1998 and then "Morgan Stanley Dean Witter & Co." until late 2001.
Misleading financial analysis was disclosed amongst investment banks in the United Kingdom, and Sir Howard Davies, chairman of the UK Financial Services Authority, decided not to intervene. Davies was also an employee of the bank. In criminal activity in the US similar to that alleged in the UK, Morgan Stanley was fined $125m.
On July 12, 2004, Morgan Stanley settled a sex discrimination suit brought by the Equal Employment Opportunity Commission for $54 million.
On January 12, 2005, The New York Stock Exchange imposed a $19 million fine on Morgan Stanley, for regulatory and supervisory lapses.
- Chairman and CEO: Philip J. Purcell who headed Dean Witter Discover, has been Chairman and CEO since the merger.
Organization
Morgan Stanley is comprised of four main business units:
- Institutional Securities
- Individual Investor Group
- Investment Management
- Credit Services
Diversity
- Morgan Stanley was named one of the 100 Best Companies for Working Mothers in 2004 by Working Mothers magazine.
- Family Digest magazine named Morgan Stanley one of the "Best Companies for African Americans" in June 2004
- Essence magazine named Morgan Stanley as one of the "30 Great Places to Work" in May 2004
- Asian Enterprise magazine named Morgan Stanley as one of the "Top Companies for Asian Americans" in April 2004
- Hispanic magazine selected Morgan Stanley as one of the "100 Companies Providing the Most Opportunities to Hispanics" in February 2004
See Also
External Links
References
- Hibbard, J. (17 January 2005). Morgan Stanley: No stars—and lots of top tech IPOs. In BusinessWeek, 56 – 58.
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