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Last Updated:
2024-09-22 08:21:10

Morgan Stanley

Financial services firm, investment banking.
Financial services firm, investment banking.

Morgan Stanley, founded in 1935, is a global financial services company with over 75,000 employees. It ranks in Fortune 500 and Forbes Global 2000 lists. The firm's main areas of business include institutional securities, wealth management, and investment management.

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1933
Founding of Morgan Stanley

Morgan Stanley was founded 88 years ago with a passion for helping individuals, families, and institutions achieve their financial goals.

1935-09-16
Founding of Morgan Stanley by J.P. Morgan partners

In 1935, J.P. Morgan partners Henry S. Morgan and Harold Stanley founded Morgan Stanley with $6.6 million of nonvoting preferred stock from J.P. Morgan partners, after being barred from the securities business for over a year.

1935-09-16
Morgan Stanley Founded as Partnership

Morgan Stanley was established on September 16, 1935, as a partnership with a small staff of 13. In its inaugural year, the firm managed $1.1 billion in public offerings and private placements, capturing a 24% market share.

1938
Distribution of $100 million debentures for United States Steel Corporation

In 1938, Morgan Stanley played a key role in distributing $100 million of debentures for the United States Steel Corporation as the lead underwriter.

1939
Lead syndicate for U.S. rail financing

In 1939, Morgan Stanley acted as the lead syndicate for U.S. rail financing.

1941
Reorganization for NYSE membership

In 1941, Morgan Stanley liquidated its stock and reorganized to qualify for membership on the New York Stock Exchange (NYSE), which it successfully joined in 1942.

1942
Fundraising for U.S. Committee for the Care of European Children

In the early 1940s, founder Harold Stanley raised $1.5 million for the U.S. Committee for the Care of European Children, marking the firm's commitment to philanthropy.

1947
First bond issuance for World Bank

In 1947, Morgan Stanley issued the first bond on behalf of the World Bank to fund post-war reconstruction in Europe.

1950
General Motors' $300 million debt issuance

During the 1950s, Morgan Stanley managed General Motors' $300 million debt issuance, which was the largest securities issue ever underwritten at that time.

1954
General Motors bond issue

In 1954, Morgan Stanley managed a $300 million bond issue for General Motors, showcasing its involvement in significant financial transactions.

1960
Development of first computer model for financial analysis

In the 1960s, Morgan Stanley pioneered the development of the first computer model to address the growing complexity of financial analysis, marking a significant advancement in the field.

1966
International expansion

In 1966, Morgan Stanley established a French subsidiary with the Morgan Guaranty Trust Company to broaden its international operations, marking a significant milestone in its global presence.

1967
Morgan Stanley opens first international office in Paris

In 1967, Morgan Stanley opened its first international office in Paris, launching Morgan & Cie. International in collaboration with Morgan Guaranty Trust Co. This move was aimed at tapping into the growing European securities market.

1970
Morgan Stanley establishes presence in Japan

In 1970, Morgan Stanley became one of the pioneering global investment banks to set up operations in Japan. This strategic move allowed the firm to expand its reach into the Asian market.

1973
Equity markets entry

In 1973, Morgan Stanley opened a research department and entered the equity markets full-scale, expanding its services to provide individual investment services to wealthy individuals and smaller institutional investors.

1977
Morgan Stanley moves international office from Paris to London

In 1977, Morgan Stanley relocated its international office from Paris to London. This shift marked a significant strategic decision to enhance the firm's presence in the financial hub of London.

1984
Development of Trade Analysis Processing System (TAPS) by Morgan Stanley

In 1984, Morgan Stanley introduced the Trade Analysis Processing System (TAPS) to enhance trade accuracy and volume.

1985
Launch of Fixed Income Division by Morgan Stanley

In 1985, Morgan Stanley inaugurated its Fixed Income Division.

1986
Establishment of Morgan Stanley and Co. International Plc

In 1986, Morgan Stanley established Morgan Stanley and Co. International Plc, a financial services company operating globally in Europe, the Middle East, Africa, the Americas, and Asia.

1988
Launch of MSCI World Index

In 1988, Morgan Stanley launched the MSCI World Index, the first comprehensive index of equity markets in developing countries.

1995
Morgan Stanley Headquarters Relocation

In 1995, Morgan Stanley relocated its global headquarters to 1585 Broadway in New York.

1997-02-05
Merger of Morgan Stanley with Dean Witter Discover & Co.

In 1997, Morgan Stanley merged with Dean Witter Discover & Co., forming the newly merged entity 'Morgan Stanley Dean Witter Discover & Co.' with Philip J. Purcell as chairman and CEO.

1998
Name change to Morgan Stanley Dean Witter & Co.

In 1998, the firm changed its name to 'Morgan Stanley Dean Witter & Co.' to combine the names of the two predecessor companies and avoid tension.

1999
Expansion of overseas operations with joint venture in India

In 1999, Morgan Stanley expanded its overseas operations by setting up a joint venture in India with local partner JM Financial.

2001-09-11
Morgan Stanley Evacuation from South Tower of World Trade Center

On September 11, 2001, Rick Rescorla, the vice president of security at Morgan Stanley, led the evacuation of 2,700 employees from the South Tower of the World Trade Center. Tragically, Rick and 12 colleagues lost their lives in the building.

2003
Morgan Stanley Settlement with Various Authorities

In 2003, Morgan Stanley agreed to pay $125 million as part of a $1.4 billion settlement with multiple entities, including Eliot Spitzer, the Attorney General of New York, and the SEC, over misleading research practices to win investment banking business.

2004-07
Morgan Stanley Fine by NASD

In July 2004, Morgan Stanley paid NASD a $2.2 million fine for numerous late disclosures of broker information, indicating regulatory violations within the firm.

2004-09
Morgan Stanley Fine by NYSE

In September 2004, Morgan Stanley paid a $19 million fine imposed by NYSE for various violations, including failure to deliver prospectuses, inaccurate reporting, and other regulatory shortcomings.

2005-01-12
NYSE Fine on Morgan Stanley

On January 12, 2005, the NYSE imposed a $19 million fine on Morgan Stanley for regulatory and supervisory lapses, marking a significant penalty within the financial industry.

2005-05-16
Morgan Stanley Fraud Verdict

On May 16, 2005, a Florida jury found Morgan Stanley guilty of defrauding Ronald Perelman regarding Sunbeam, resulting in a $604 million damages verdict, which was later overturned in 2007.

2006-03-02
Morgan Stanley Class-Action Lawsuit Settlement

In March 2, 2006, Morgan Stanley settled a class-action lawsuit in California for unfair labor practices, reaching a $42.5 million agreement without admitting fault.

2006-12-19
Spin-off of Discover Card unit

On December 19, 2006, Morgan Stanley announced the spin-off of its Discover Card unit, completing the process on June 30, 2007.

2007-09-27
FINRA Settlement with Morgan Stanley

On September 27, 2007, FINRA announced a $12.5 million settlement with Morgan Stanley for failing to provide emails in arbitration proceedings, revealing misconduct within the firm.

2007-12-19
Capital infusion from China Investment Corporation

On December 19, 2007, Morgan Stanley announced a US$5 billion capital infusion from the China Investment Corporation in exchange for convertible securities.

2008-06-18
FSA Fine on Morgan Stanley

On June 18, 2008, Morgan Stanley admitted to a £1.4m fine by the Financial Services Authority for failing to control a rogue trader, resulting in a significant financial loss for the firm.

2008-09-17
Morgan Stanley Facing Difficulties During Financial Crisis

On September 17, 2008, the British evening-news analysis program Newsnight reported that Morgan Stanley was facing difficulties after a 42% slide in its share price in two days. CEO John J. Mack mentioned the market was controlled by fear and rumors.

2008-09-19
Morgan Stanley Explores Merger Possibilities

By September 19, 2008, Morgan Stanley's share price had slid 57% in four days, leading the company to explore merger possibilities with various banks like CITIC, Wachovia, HSBC, and others.

2008-09-29
MUFG Bank Invests in Morgan Stanley

MUFG Bank, Japan's largest bank, invested $9 billion in a direct purchase of a 21% ownership stake in Morgan Stanley on September 29, 2008. The payment was made via a physical check due to the urgency of the situation.

2008-10-14
Mitsubishi UFJ Completes Stake Purchase in Morgan Stanley

Morgan Stanley's stock price experienced a dramatic fall in October 2008 due to concerns over the completion of the Mitsubishi deal. It recovered once Mitsubishi UFJ's 21% stake in Morgan Stanley was completed on October 14, 2008.

2009-01-13
Merger of Global Wealth Management Group and Citi's Smith Barney

On January 13, 2009, the Global Wealth Management Group merged with Citi's Smith Barney to form Morgan Stanley Smith Barney, with Morgan Stanley owning 51% and Citi holding 49%.

2012-05-31
Morgan Stanley's Purchase of Additional Stake in Smith Barney

On May 31, 2012, Morgan Stanley exercised its option to buy an additional 14% stake in the joint venture with Citi, increasing its ownership.

2012-08-07
Morgan Stanley settles price-fixing scandal

Morgan Stanley agreed to pay $4.8 million in fines to settle a price-fixing scandal that had cost New Yorkers $300 million. The Justice Department hoped this would send a message to the banking industry.

2013-06
Morgan Stanley's Acquisition of Citigroup's Stake in Smith Barney

In June 2013, Morgan Stanley announced securing regulatory approvals to buy Citigroup's remaining 35% stake in Smith Barney, finalizing the deal.

2013-11
Morgan Stanley Invests in Affordable Housing

In November 2013, Morgan Stanley announced a $1 billion investment to improve affordable housing as part of its broader initiative to support economic, social, and environmental sustainability.

2014-07
Morgan Stanley's Asian Private Equity Fund Raises $1.7 Billion

In July 2014, Morgan Stanley's Asian private equity arm raised around $1.7 billion for its fourth fund, focusing on investments in the Asian region.

2015-05
Morgan Stanley fined for short interest reporting violations

Morgan Stanley was fined $2 million for short interest reporting and rule violations by FINRA for over six years.

2015-05-18
Morgan Stanley's Inaugural China Summit

Morgan Stanley's first China Summit took place at Rosewood Hotel in Beijing from May 18 to May 20, 2015.

2015-12
Morgan Stanley Cuts Fixed Income Jobs

In December 2015, Morgan Stanley announced a reduction of around 25% of its fixed income jobs by the end of the month.

2016-02
Morgan Stanley settles over mortgage-backed bonds

Morgan Stanley agreed to pay $3.2 billion to settle with state and federal authorities over the creation of mortgage-backed bonds before the financial crisis.

2016-08
Morgan Stanley Hong Kong Securities fined for violations

Morgan Stanley Hong Kong Securities Ltd. was fined HK$18.5 million by Hong Kong's Securities and Futures Commission for violations of the Code of Conduct.

2016-11-03
Morgan Stanley 15th Annual Asia Pacific Summit

The Morgan Stanley 15th Annual Asia Pacific Summit took place at Mandarin Oriental Singapore on November 3, 2016.

2017-01
Morgan Stanley fined for overbilling and violating investor asset safeguarding rules

Morgan Stanley was fined $13 million for overbilling and violating investor asset safeguarding custody rules.

2018-05-23
Morgan Stanley 4th Annual China Summit

The 4th annual China Summit organized by Morgan Stanley took place at Rosewood Beijing on May 23-24, 2018.

2018-11-28
Morgan Stanley 17th Annual Asia Pacific Summit

The Morgan Stanley 17th Annual Asia Pacific Summit was held from November 28 to November 29, 2018 at Mandarin Oriental Singapore. It served as a platform for discussions on economic trends and investment strategies in the Asia Pacific region.

2018-12
Morgan Stanley fined for anti-money laundering compliance failures

FINRA announced a $10 million fine against Morgan Stanley for failures in its anti-money laundering compliance over a period of five years.

2019-02
Acquisition of Solium Capital

In February 2019, Morgan Stanley announced the acquisition of Solium Capital, a manager of employee stock plans, for $900 million.

2019-03-25
Morgan Stanley 9th Annual Hong Kong Investor Summit

The 9th annual investor summit organized by Morgan Stanley in Hong Kong to discuss investment opportunities.

2019-04
Morgan Stanley settles charges of misleading California pension funds

Morgan Stanley agreed to pay $150 million to settle charges of misleading California public pension funds about the risks of mortgage-backed securities.

2019-05-23
Morgan Stanley 5th Annual China Summit

The 5th Annual China Summit organized by Morgan Stanley took place at Rosewood Beijing on May 23, 2019.

2019-11
Morgan Stanley fires traders for securities mismarking

Morgan Stanley fired or placed on leave four traders for suspected securities mismarking, concealing $100–140 million in losses.

2020-05
Morgan Stanley SEC Settlement for Misleading Information

In May 2020, Morgan Stanley agreed to pay a $5 million penalty to settle allegations by the SEC for providing misleading information to clients in retail wrap fee programs.

2020-10
Acquisition of E*Trade

In October 2020, Morgan Stanley completed the acquisition of E*Trade for $13 billion, marking the largest acquisition by a U.S. bank since the global financial crisis.

2021-03
Morgan Stanley Acquires Eaton Vance

In March 2021, Morgan Stanley completed its acquisition of Eaton Vance, adding $5.4 trillion of client assets across its Wealth Management and Investment Management segments.

2022-09
SEC Charges Against Morgan Stanley for Data Breach

In September 2022, the SEC announced charges against Morgan Stanley for failing to protect personal identifying information of approximately 15 million customers, leading to a $35 million settlement.

2023-05-02
Morgan Stanley Announces Staff Reduction

On May 2, 2023, Morgan Stanley outlined plans to reduce approximately 3,000 positions by the end of June, constituting about 5% of the bank's overall workforce.

2024-01
Morgan Stanley Criminal Investigation Settlement

In January 2024, Morgan Stanley agreed to pay $249 million to settle a criminal investigation and SEC probe related to unauthorized disclosure of block trades to investors.

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Morgan Stanley
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