The firm that Henry and Harold built
New York-headquartered investment banking giant Morgan Stanley
is divided into three main businesses: institutional securities,
asset management, and wealth management. Institutional securities
includes M&A advisory, restructuring, real estate, project
finance, capital raising, equity and fixed income sales and
trading, and corporate lending. Asset management includes
institutional investment products and mutual funds across a range
of fixed income, equity, and alternative investments. Wealth
management provides financial planning and wealth management
services, annuities and insurance, and brokerage and investment
advisory services that cover a wide range of investment
The firm's modern history can be traced to 1935, when J.P.
Morgan & Co. partners Henry S. Morgan (grandson of J.P.
Morgan) and Harold Stanley left the firm to start their own
company: Morgan Stanley. Today, more than 75 years later,
Morgan Stanley is known as one of the leading investment banks in
the world. It has one of the top financial advisor sales
forces on the planet (its retail advisors operate under the Morgan
Stanley Smith Barney name). And it regularly works on the most
high-profile deals on Wall Street.
For the first six months of 2014, the firm ranked No. 2 in
worldwide announced M&A deal volume, as well as in U.S.
announced M&A deal volume. For the same period, it ranked No. 3
in global IPO underwriting and No. 2 in U.S. IPO underwriting. The
bank is led by James Gorman, its chairman and CEO. It employs
nearly 56,000 employees globally.