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Morgan Stanley and Dean Witter merged in 1997, creating America's largest asset management company and securities firm in terms of equity capital. The resulting name, Morgan Stanley, Dean Witter, Discover & Company, was shortened to Morgan Stanley in March 2001.
The original Morgan Stanley, formed by J.P. Morgan & Co. partners Henry Sturgis Morgan (a grandson of J.P. 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. [7]
During 1950s and 1960s, Morgan Stanley continues to be a leader in helping blue-chip clients tap public markets to finance growth and innovation. A new generation leads the charge into new businesses and markets to become a truly global investment bank.
The Founding of Morgan Stanley. At 4 p.m. on the afternoon of September 5, 1935, a small crowd of reporters filed past a row of rolltop desks in the long, narrow partners’ room at J.P. Morgan’s headquarters on 23 Wall Street to await one of the firm’s rare announcements.
Morgan Stanley
Morgan Stanley was founded via the partnership of Harold Stanley and Henry S. Morgan. The name of the company was in fact picked from these two persons. Henry and Harold were members of the J.P Morgan & Co. The company started witnessing growth in the very same year of establishment.
When Morgan Stanley first opened for business, Morgan was on a cruise ship back from England. He was quite happy to have Stanley, 15 years his senior, be the face and voice of the firm, as well as the partner in charge of day-to-day operations.
