![]() The firm formally opened its doors for business on September 16, 1935, at 2 Wall Street, New York City, just down the street from J.P Morgan. and joined others from the Drexel partners to form Morgan Stanley. As a result, some of the employees of J.P. chose the commercial banking business over the investment banking business. Following the Glass–Steagall Act, it was no longer possible for a corporation to have investment banking and commercial banking businesses under a single holding entity. The company operates in three business segments: Institutional Securities, Wealth Management, and Investment Management. 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 bank is considered systemically important by the Financial Stability Board. The main areas of business for the firm today are institutional securities, wealth management and investment management. Purcell, became the Chairman and CEO of the newly merged "Morgan Stanley Dean Witter Discover & Co." The new firm changed its name back to "Morgan Stanley" in 2001. Dean Witter's Chairman and CEO, Philip J. The current Morgan Stanley is the result of the merger of the original Morgan Stanley with Dean Witter Discover & Co. In its first year, the company operated with a 24% market share (US$1.1 billion) in public offerings and private placements. 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. partners Henry Sturgis Morgan (a grandson of J.P. The original Morgan Stanley, formed by J.P. 61 in the 2021 Fortune 500 list of the largest United States corporations by total revenue. With offices in 41 countries and more than 75,000 employees, the firm's clients include corporations, governments, institutions, and individuals. ![]() Morgan Stanley is an American multinational investment bank and financial services company headquartered at 1585 Broadway in Midtown Manhattan, New York City.
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