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Dean Witter logo, c. 1990 Prior to its merger with Morgan Stanley, Dean Witter Reynolds was a diversified financial services organization that provided a broad range of investment and consumer credit and investment products and services.
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.
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.
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 ...
Morgan Stanley: 6,500, $271 (as of Nov. 18): "Looking forward to 2025, we think it will continue to be important for investors to remain nimble around market leadership changes, particularly given ...
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 ...
The Wall Street veteran noted in a Morgan Stanley’s Thoughts on the Market podcast on Monday that stock market valuations remain elevated given the threats to consumer spending, higher interest ...