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UPI Pictures of the Year 2013 -- NEWS AND FEATURES
Former Congressman Harold Ford Jr. and Managing Director, Morgan Stanley; Professor, NYU speaks during a panel discussion, Power Shift: The Changing Electorate, at the annual Milken Institute Global Conference in Beverly Hills, California on April 29, 2013. The conference brings together hundreds of chief executive officers, senior government officials and leading figures in the global capital markets for discussions on social, political and economic challenges. UPI/Jim Ruymen
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Morgan Stanley (NYSE: MS) is a global financial services provider headquartered in New York City, New York, United States. It serves a diversified group of corporations, governments, financial institutions, and individuals. Morgan Stanley also operates in 33 countries around the world with 600 offices, with an approximate employee workforce of 45,000. The company reports US$779 billion as assets under its management.

The corporation, formed by J.P. Morgan & Co. employees Henry S. Morgan (grandson of J.P. Morgan), Harold Stanley and others, came into existence on September 16, 1935. In its first year the company operated with a 24% market share (US$1.1 billion) in public offerings and private placements. The main areas of business for the firm today are Global Wealth Management, Institutional Securities and Investment Management.

The company found itself in the midst of a management crisis in the late 1990s that saw it lose a lot of talent and competence and ultimately saw the firing of its then CEO Philip Purcell in 2005.

This article is licensed under the GNU Free Documentation License.
It uses material from the Wikipedia article "Morgan Stanley."
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