Morgan Stanley is an American multinational investment bank and financial services company headquartered at 1585 Broadway in the Morgan Stanley Building, Midtown Manhattan, New York City. With offices in more than 42 countries and more than 55,000 employees, the firm’s clients include corporations, governments, institutions and individuals. Morgan Stanley ranked No. 67 in the 2018 Fortune 500 list of the largest United States corporations by total revenue.
The original Morgan Stanley, formed by J.P. Morgan & Co. partners Henry Sturgis Morgan (grandson of J.P. Morgan), Harold Stanley and others, came into existence on September 16, 1935, in response to the Glass–Steagall Act that required the splitting of commercial and investment banking businesses. In its first year the company operated with a 24% market share (US$1.1 billion) in public offerings and private placements.
The current Morgan Stanley is the result of merger of the original Morgan Stanley with Dean Witter Discover & Co. in 1997. Dean Witter’s Chairman and CEO, Philip J. Purcell, became the Chairman and CEO of the newly merged “Morgan Stanley Dean Witter Discover & Co.” Eventually, the new firm changed its name back to “Morgan Stanley” in 2001. The main areas of business for the firm today are institutional securities, wealth management and investment management.
Click to see more
Morgan Stanley Details
Operating Status:Active
Business TypePublic
HeadquartersNew York City, New York, United States
Banking giant Morgan Stanley announced a near-selloff of its Grayscale holdings while liquidating a total of $269.9 million worth of GBTC shares which it held in Q1 2024.
Cohen explained that Bitcoin and Ethereum have met the financial giant’s expectations, and no other crypto has attained the same level of investor interest and demand.
