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Top 10 Owners of Morgan Stanley StockholderStakeShares ownedThe Vanguard Group, Inc.6.36%105,456,864BlackRock Fund Advisors3.68%60,931,843JPMorgan Investment Management, I...2.27%37,594,338Wellington Management Co. LLP2.19%36,263,2666 more rows
The original Dean Witter brokerage house was founded in 1924 by Dean Witter, his brother Guy, and cousin Jean. The trio started Dean Witter & Co. as a West Coast securities firm dealing in municipal and corporate bonds.
The original Dean Witter brokerage house was founded in 1924 by Dean Witter, his brother Guy, and cousin Jean. The trio started Dean Witter & Co. as a West Coast securities firm dealing in municipal and corporate bonds.
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.
Purcell was named chairman and chief executive of what became Morgan Stanley, Dean Witter, Discover & Company, later shortened to Morgan Stanley in March 2001. Mack stayed on as president until 2001.
In October 2020, the company completed its acquisition of E*Trade, a deal announced in February 2020 for $13 billion, the biggest acquisition by a U.S. bank since the global financial crisis. In March 2021, Morgan Stanley completed its acquisition of Eaton Vance, a deal announced in October 2020.
While the naming may indicate that they are similar companies, they are independent entities. J.P Morgan's grandson, Henry Morgan, founded Morgan Stanley in 1935. As such, Morgan Stanley is a standalone investment bank and does not currently have any relations with J.P. Morgan.
In 1981, Dean Witter Reynolds was acquired by Sears, Roebuck and Company in a $600 million transaction. Sears' core retail business was facing several challenges, and the company decided to diversify into new businesses, including financial services.
E*TRADE is now E*TRADE from Morgan Stanley. 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.