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Morgan Stanley [4] is an American multinational investment bank and financial services company headquartered at 1585 Broadway in Midtown Manhattan, New York City.With offices in 41 countries and more than 90,000 employees, the firm's clients include corporations, governments, institutions, and individuals. [2]
Dean Witter Reynolds was an American stock brokerage and securities firm catering to a variety of clients. Prior to the company's acquisition, it was among the largest firms in the securities industry with over 9,000 account executives (ranking third in the US in 1996) and was among the largest members of the New York Stock Exchange.
He joined investment bank Morgan Stanley in 1962 and became a partner in 1970. [1] [3] In 1972, he was appointed by Frank Petito, then Chairman of Morgan Stanley to create and direct the new mergers and acquisitions department, the first of its kind on Wall Street, during which time he was credited with pioneering the modern investment banking analyst program.
The corporate logo of financial firm Morgan Stanley is pictured on the company's world headquarters in the Manhattan borough of New York City, January 20, 2015.
On July 15, 2003, Goldman Sachs, Lehman Brothers and Morgan Stanley were sued for artificially inflating the stock price of RSL Communications by issuing untrue or materially misleading statements in research analyst reports, and paid $3,380,000 (~$5.37 million in 2023) for settlement. [181]
In recent weeks, both Morgan Stanley and Wells Fargo have raised their cash sweep rates. Morgan Stanley raised its rate from 0.01% to 2% on advisory accounts with cash balances over $250,000.
The joint venture operates as Morgan Stanley Smith Barney. [14] Morgan Stanley itself was in a financially cash-strapped position like Citigroup during that time, but they were helped by the $9 billion that Mitsubishi UFJ Financial Group had paid in 2008 for a 21% stake in Morgan Stanley. [15] [16] [17]
David Martin Darst, CFA, is an American financier, educator, author, and triathlete.For 17 years, he was a Managing Director and Chief Investment Strategist of Morgan Stanley Wealth Management, where he served as Vice Chairman of the Morgan Stanley Wealth Management Global Investment Committee.