Morgan Stanley
Since 1997, Morgan Stanley has combined the complementary skills and resources of two powerful organizations: Morgan Stanley established in New York in 1935, and Dean Witter, established in 1924 in San Francisco. Their distinguished pedigrees encompass a record of historic firsts: in national and international expansion, in the use of technology, and in the development of new financial tools and techniques that have redefined the meaning of financial services for individual, institutional and investment banking clients. In 1936, in his first full year achieves 24% market share among public offerings. In 1941 they decide to join New York Stock Exchange and entered the brokerage business and are recognized as a partnership. From 1964-1969, the company created the first computer model for the financial analysis that expands real estate financing and advisory services. In order to be a worldwide company they opened the first cite which is called Morgan & CIE international in Paris, England.
In 1979, Morgan Stanley was the first brokerage firm with offices in all 50 states and Washington DC. In 1990 they achieved record profits in a year when many Wall Street firms lost money. In the late 80's they launched the discover card. By 1993 Sears's spins off Dean Witter discover to the public and to Sears shareholders: within three years, share price more than doubles.
By 1997 Morgan Stanley group, inc. and Dean Witter, Discover & co. merge creating a global market leader in securities, asset management and credit services. In 1998 they raised 4.4 billion for Dupont spin-off of conoco. It is the largest U.S IPO to date, despite difficult market conditions. By 2001 Morgan Stanley sells $6 billion offering of agere systems, largest technology IPO in US history, Discover financial services enrolls more than five million accounts in its online center and by 2002 Morgan Stanley completes a $6 billion global bond offering which is the largest financing in the...
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