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For Dean Witter's customers, the merger could mean many new investment choices from Morgan Stanley's stock-and-bond factory, from new stock offerings that it manages for big corporations to the most exotic bonds from developing nations.
Boards of directors of both Sears and Dean Witter approved the merger and late today signed a merger agreement. Sears announced Monday it will buy Coldwell Banker & Co., the biggest independent real estate company in the nation for $179 million in cash and Sears stock.
Morgan Stanley retained the Morgan Stanley brand, which the company uses to provide asset management services to institutional investors such as foundations, university endowment funds, private funds, insurance companies, pension plans, financial institutions, and government agencies.
In 1997, Morgan Stanley Group, Inc. and Dean Witter Discover merged to form one of the largest global financial services firms: Morgan Stanley Dean Witter & Discover Co.. The combined firm later dropped the "Discover Co." name in 1998 and further the "Dean Witter" name in 2001.
In 2005, Morgan Stanley was facing a series of crises stemming from its 1997 merger with Dean Witter, Discover & Co.
Institutional Securities is Morgan Stanley's biggest moneymaker, with record net revenues of $25.9 billion in the fiscal year of 2020.
Sears, Roebuck & Company, the nation's biggest retail store chain, announced yesterday that it would buy Dean Witter Reynolds Inc., the fifth-largest brokerage house, for about $607 million in cash and stock.
This Agreement governs the terms of your existing and future investment advisory accounts and relationships with Morgan Stanley. We offer several different investment advisory programs that have different features and support different types of investment strategies.
With the addition of Eaton Vance, Morgan Stanley will oversee $5.4 trillion of client assets across its Wealth Management and Investment Management segments.