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In 2005, Morgan Stanley was facing a series of crises stemming from its 1997 merger with Dean Witter, Discover & Co.
Morgan Stanley held a 51% stake, and Citigroup owned a 49% stake in the company. The company was renamed to Morgan Stanley Wealth Management in 2012 after purchasing an additional 14% stake in the unit.
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.
Morgan Stanley shares a name, or part of a name, with JPMorgan Chase & Co. (JPM) and it is not a coincidence. The Morgan in Morgan Stanley is J.P. Morgan's grandson. The company was founded by Henry S.
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.
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.
The main areas of business for the firm today are institutional securities, wealth management and investment management....Morgan Stanley. Morgan Stanley's office at 1585 Broadway on Times Square, New York CityTypePublicTraded asNYSE: MS S&P 100 component S&P 500 componentIndustryFinancial services19 more rows
1989 Going Public In 1986, the firm goes public to raise capital for further growth.
In 1981, Dean Witter became one of the first firms to experiment with the now-scoffed-at idea of the financial supermarket, allowing itself to be bought by Sears Roebuck & Co.