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The resultant company, Dean Witter Reynolds, was the fifth-largest broker in the U.S. One year later Dean Witter Reynolds became the first securities firm to have offices in all 50 U.S. states and Washington, D.C. After completion of the merger, Dean Witter Reynolds generated revenue of more than $520 million. [19] [21] Dean Witter logo under ...
Reynolds Securities was a publicly traded brokerage firm. Founded in 1931 by Richard S. Reynolds, Jr., the firm merged with Dean Witter & Co. to form Dean Witter Reynolds Organization Inc. in 1978, which was then the biggest merger in the history of Wall Street. [1] [2] The firm's tagline, "We work for a world of investors. One at a time."
The current Morgan Stanley is the result of the merger of the original Morgan Stanley with Dean Witter Discover & Co. in 1997. [7] Dean Witter's chairman and CEO, Philip J. Purcell, became the chairman and CEO of the newly merged "Morgan Stanley Dean Witter Discover & Co." [8] [9] The new firm changed its name back to "Morgan Stanley" in 2001.
Back in 1997, the global investment giant Morgan Stanley merged with brokerage firm Dean Witter Reynolds to become the largest securities company at the time. But the union proved challenging.
He was the main architect of Dean Witter's acquisition of Morgan Stanley in 1997, [4] and was Chairman and CEO of the merged firm (known as Morgan Stanley) from 1997-2005. During that period, the market cap of Morgan Stanley increased from $23 billion to $64 billion. He was previously chairman and CEO of Dean Witter, Discover & Co, from 1986 to ...
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Morgan Stanley: 1997 Bankers Trust: Alex. Brown & Sons: Bankers Trust (BT Alex. Brown & Sons) 1997 Swiss Bank Corporation: Dillon, Read & Co. Swiss Bank Corporation (Warburg Dillon Read) 1997 Travelers Group: Salomon Brothers: Travelers Group (Salomon Smith Barney) 1997 Dean Witter Discover & Co. Morgan Stanley: Morgan Stanley Dean Witter: 1998 ...
On June 1, 2009, Morgan Stanley and Citigroup announced they closed early on the launch of their joint venture that combines Morgan Stanley's wealth management unit (including many former Dean Witter assets) with Citi's Smith Barney brokerage division. The new venture, called Morgan Stanley Smith Barney, was supposed to launch during the third ...