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- After Congress forces banks to choose between serving commercial or institutional clients, Harold Stanley and Henry Morgan leave J.P. Morgan & Co. to open a new investment bank that bears their names.
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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.
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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]
Morgan Stanley was created as a separate investment bank, drawing in capital and talent from J.P. Morgan’s operations. Where does the act stand today? The lines blurred over the years and were essentially removed with the 1999 Financial Services Modernization Act, otherwise known as the Gramm-Leach-Bliley Act.
By the end of what became known as “the porch meeting,” some key decisions were made: The XYZ Corporation would be named Morgan Stanley & Co. Incorporated, with Harold Stanley as president and Henry Morgan in the roles of treasurer and secretary.
Our History. Select an era to discover the people and moments that define Morgan Stanley. 1925 1949. Building the Foundation. After Congress forces banks to choose between serving commercial or institutional clients, Harold Stanley and Henry Morgan leave J.P. Morgan & Co. to open a new investment bank that bears their names. VIEW MORE.
Since our founding in 1935, Morgan Stanley has consistently delivered first-class business in a first-class way. Underpinning all that we do are five core values. Giving Back. At Morgan Stanley, giving back is a core value—a central part of our culture globally.
Henry Sturgis Morgan Sr. (October 24, 1900 – February 8, 1982) was an English born American banker, known for being the co-founder of Morgan Stanley and the president and chairman of the Morgan Library & Museum.
