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Why did Harold Stanley leave JP Morgan & Co?
When did Harold Stanley leave Morgan Stanley?
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Harold Stanley (October 2, 1885 – May 14, 1963) was an American businessman and one of the founders of Morgan Stanley in 1935. For 20 years, he ran Morgan Stanley until he left the firm in 1955.
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.
The early 1940s saw the start of the firm's commitment to giving back, when founder Harold Stanley raised $1.5 million for the U.S. Committee for the Care of European Children. In 1947, the firm issued the first bond on behalf of the World Bank to fund post-war reconstruction in Europe.
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. During 1950s and 1960s, Morgan Stanley continues to be a leader in helping blue-chip clients tap public markets to finance growth and innovation.
Succeeding co-founder Harold Stanley, Perry Hall assumed the presidency of Morgan Stanley in 1951, leading the firm for the next decade. As president from 1951-1961, Hall guided Morgan Stanley into new areas like publicly offering bonds for the World Bank and General Motors.
Era: 1930. Having made a name for himself at JP Morgan prior to the Banking Act of 1933, Stanley became a leader in the newly independent investment banking industry. Under Stanley’s leadership, his company gained a strong position in securities offerings, especially in the bond market.
Feb 17, 2020 · It was originally founded as Morgan Stanley Group, Inc. by Harold Stanley and Henry S. Morgan (grandson of J.P. Morgan) on September 16, 1935. The current Morgan Stanley was formed in 1997 when Morgan Stanley Group, Inc. merged with Dean Witter Discover & Co., a company that was founded in 1924.
