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'' Dean Witter, Discover, which traces its origins back to a brokerage firm founded by Dean Witter in San Francisco in 1924, was bought by Sears in 1981 for $661 million in cash and stock.
Founded in 1935 as a partnership with a staff of just 13, Morgan Stanley is now a global financial services firm operating in more than 40 countries with over 80,000 employees.
New York-headquartered investment banking giant Morgan Stanley is divided into three main businesses: Institutional Securities, Investment Management, and Wealth Management.
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.
From John Mack, former CEO of Morgan Stanley, an intimate personal memoir and riveting business story, recounting how he helped grow the company from 300 to 50,000 employees over four decades, transformed a notoriously competitive culture into a successful and collaborative one, and lead the company through the 2008 ...
(''Dean Witter Discover'') and Morgan Stanley Group Inc. (''Morgan Stanley'') and was formed pursuant to a merger of equals that was effected on (the ''Merger''). MSDW was originally incorporated under the laws of the State of Delaware in 1981, and its predecessor companies date back to 1924.
Following Witter's death in 1969, and the retirement of Guy Witter the following year, Jean Witter's son, William M. Witter, became CEO of Dean Witter & Co.