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Morgan Stanley – Loans

American monetary providers firm

Morgan Stanley
Kind Public
Trade Monetary providers
Founder Henry Sturgis Morgan
Harold Stanley
Dean G. Witter
Richard S. Reynolds, Jr.
Headquarters Morgan Stanley Constructing
New York Metropolis, New York, U.S.

Space served

Worldwide service

Key individuals

James P. Gorman
(Chairman & CEO)
Thomas Nides
(Vice Chairman)
Jonathan Pruzan
Merchandise Funding banking, Gross sales and buying and selling, Commodities, Prime brokerage, Wealth administration, Funding administration
Income IncreaseUS$48.2 billion (2020)
Increase US$13.648 billion (2020)
Increase US$11 billion (2020)
AUM Increase US$715 billion (2020)
Whole property Increase US$1,118 billion (2020)
Whole fairness Increase US$101.78 billion (2020)
Proprietor MUFG (24.0%) [1]

Variety of staff

68,097 (2020)
Subsidiaries Morgan Stanley Wealth Administration
Eaton Vance
Capital ratio 17.3% (FY 2020)
Web site
Footnotes / references

Morgan Stanley is an American multinational funding financial institution and monetary providers firm headquartered at 1585 Broadway within the Morgan Stanley Constructing, Midtown Manhattan, New York Metropolis. With places of work in additional than 42 nations and greater than 60,000 staff, the agency’s purchasers embody firms, governments, establishments, and people.[2] Morgan Stanley ranked No. 67 within the 2018 Fortune 500 record of the most important United States firms by whole income.[4]

The unique Morgan Stanley, fashioned by J.P. Morgan & Co. companions Henry Sturgis Morgan (grandson of J.P. Morgan), Harold Stanley, and others, got here into existence on September 16, 1935, in response to the Glass–Steagall Act that required the splitting of economic and funding banking companies.[5] In its first yr, the corporate operated with a 24% market share (US$1.1 billion) in public choices and personal placements.

The present Morgan Stanley is the results of merger of the unique Morgan Stanley with Dean Witter Uncover & Co. in 1997.[5] Dean Witter’s Chairman and CEO, Philip J. Purcell, grew to become the Chairman and CEO of the newly merged “Morgan Stanley Dean Witter Uncover & Co.”[6][7] The brand new agency modified its identify again to “Morgan Stanley” in 2001.[8][9][10] The primary areas of enterprise for the agency immediately are institutional securities, wealth administration and funding administration. The financial institution is taken into account systemically necessary by the Monetary Stability Board.


Morgan Stanley is a monetary providers company that, by way of its associates and subsidiaries, advises, and originates, trades, manages, and distributes capital for establishments, governments, and people. The corporate operates in three enterprise segments: Institutional Securities, Wealth Administration, and Funding Administration.[2]

Historical past[edit]

The unique Morgan Stanley (1935–1997)[edit]

Morgan Stanley traces its roots to J.P. Morgan & Co. Following the Glass–Steagall Act, it was not doable for a company to have funding banking and industrial banking companies beneath a single holding entity.[11][12] J.P. Morgan & Co. selected the industrial banking enterprise over the funding banking enterprise. Consequently, a few of the staff of J.P. Morgan & Co., most notably Henry S. Morgan and Harold Stanley, left J.P. Morgan & Co. and joined others from the Drexel companions to type Morgan Stanley.[12] The agency formally opened the doorways for enterprise on September 16, 1935, at 2 Wall Road, New York Metropolis, simply down the road from J.P Morgan.[13] The agency was concerned with the distribution of 1938 US$100 million of debentures for the US Metal Company because the lead underwriter.[14] The agency additionally obtained the excellence of being the lead syndicate within the 1939 U.S. rail financing.[citation needed] The agency went by way of a reorganization in 1941 to permit for extra exercise in its securities enterprise.[citation needed]

The agency was led by Perry Corridor, the final founder to guide Morgan Stanley, from 1951 till 1961.[15] Throughout this era, the agency co-managed the World Financial institution’s triple-A-rated bonds providing of 1952,[16] in addition to arising with Basic Motors’ US$300 million debt challenge,[citation needed] US$231 million IBM inventory providing,[citation needed] and the US$250 million AT&T’s debt providing.[citation needed]

Morgan Stanley credit itself with having created the primary viable pc mannequin for monetary evaluation in 1962, thereby beginning a brand new pattern within the subject of monetary evaluation. Future president and chairman Dick Fisher contributed to the pc mannequin as a younger worker, studying the FORTRAN and COBOL programming languages at IBM.[17] In 1967, it established the Morgan & Cie, Worldwide in Paris in an try to enter the European securities market.[18] The agency acquired Brooks, Harvey & Co., Inc. in 1967 and established a presence in the actual property enterprise.[19] The gross sales and buying and selling enterprise is believed to be the brainchild of Bob Baldwin.[20]

In 1996, Morgan Stanley acquired Van Kampen American Capital.[21]

Morgan Stanley after the Merger (1997–current)[edit]

Present Morgan Stanley Emblem 2013

Historic emblem utilized by Morgan Stanley within the early 2000s

On February 5, 1997 the corporate merged with Dean Witter Uncover & Co., the spun-off monetary providers enterprise of Sears Roebuck.[22] Dean Witter’s Chairman and CEO, Philip J. Purcell, continued to carry the identical roles within the newly merged “Morgan Stanley Dean Witter Uncover & Co.” Morgan Stanley’s president John J. Mack grew to become the agency’s president and chief working officer.[23] In 1998, the identify of the agency was modified to “Morgan Stanley Dean Witter & Co.”[24] Initially, the identify was chosen to be the mix of the 2 predecessor corporations in an effort to keep away from stress between the 2 companies.[9] Ultimately in 2001 “Dean Witter” was additional dropped and the identify grew to become “Morgan Stanley” for unrevealed causes.[9][10]

Morgan Stanley had places of work positioned on 24 flooring throughout buildings 2 and 5 of the World Commerce Heart in New York Metropolis. These places of work had been inherited from Dean Witter which had occupied the house for the reason that mid-Eighties.[citation needed] The agency misplaced 13 staff through the September 11 assaults in 2001[25] (Thomas F. Swift, Wesley Mercer, Jennifer de Jesus, Joseph DiPilato, Nolbert Salomon, Godwin Forde, Steve R. Strauss, Lindsay C. Herkness, Albert Joseph, Jorge Velazquez, Titus Davidson, Charles Laurencin and Safety Director Rick Rescorla) within the towers, whereas 2,687 have been efficiently evacuated by Rick Rescorla.[26][27] The surviving staff moved to momentary headquarters within the neighborhood. In 2005 Morgan Stanley moved 2,300 of its staff again to decrease Manhattan, at the moment the most important such transfer.[28]

Morgan Stanley Youngsters’s Hospital of New York-Presbyterian is the one stand-alone pediatric hospital in New York Metropolis and is a part of New York-Presbyterian Hospital

In 2003, NewYork–Presbyterian Hospital named the Morgan Stanley Youngsters’s Hospital in recognition of the agency’s sponsorship of the hospital, which largely funded its building by way of philanthropy.[29] The initiative started beneath CEO Philip J. Purcell and was accomplished beneath John Mack. Workers on the agency have been concerned with the hospital for the reason that Nineteen Nineties and personally donated to the development of the present child-friendly constructing, which opened in November 2003.[30][31]

The corporate discovered itself within the midst of a administration disaster beginning in March 2005[32] that resulted in a lack of the agency’s employees.[33] Purcell resigned as CEO of Morgan Stanley in June 2005 when a extremely public marketing campaign by former Morgan Stanley companions[34][35] threatened to break the agency and challenged his refusal to aggressively improve leverage, improve danger, enter the sub-prime mortgage enterprise and make costly acquisitions; the identical methods that pressured Morgan Stanley into large write-downs, associated to the subprime mortgage disaster, by 2007.[36]

On December 19, 2006, Morgan Stanley introduced the spin-off of its Uncover Card unit.[37] The financial institution accomplished the spinoff of Uncover Monetary on June 30, 2007.[38][citation needed]

So as to address the write-downs through the subprime mortgage disaster, Morgan Stanley introduced on December 19, 2007 that it could obtain a US$5 billion capital infusion from the China Funding Company in trade for securities that may be convertible to 9.9% of its shares in 2010.[39][40]

The financial institution’s Course of Pushed Buying and selling unit was amongst a number of on Wall Road caught in a brief squeeze, reportedly dropping almost $300 million in sooner or later. The bubble’s subsequent collapse was thought of to be a central function of the monetary disaster of 2007–2010.[41]

The financial institution was contracted by the US Treasury in August 2008 to advise the federal government on potential rescue methods for Fannie Mae and Freddie Mac.[42] Inside days, Morgan Stanley itself was liable to failure, with quickly altering prospects, regulatory mannequin and possession stakes over the course of 4 weeks from mid-September to mid-October 2008.

To set the context: Morgan Stanley is claimed to have misplaced over 80% of its market worth between 2007 and 2008 through the monetary disaster.[43] On September 17, 2008, the British evening-news evaluation program Newsnight reported that Morgan Stanley was going through difficulties after a 42% slide in its share fee in two days. CEO John J. Mack wrote in a memo to employees “we’re within the midst of a market managed by worry and rumours and short-sellers are driving our inventory down.” By September 19, 2008, the share fee had slid 57% in 4 days, and the corporate was mentioned to have explored merger prospects with CITIC, Wachovia, HSBC, Normal Chartered, Banco Santander and Nomura.[44] At one level, Hank Paulson supplied Morgan Stanley to JPMorgan Chase without charge, however JPMorgan’s Jamie Dimon refused the provide.[45]

Morgan Stanley and Goldman Sachs, the final two main funding banks within the US, each introduced on September 22, 2008, that they’d turn into classic financial institution holding corporations regulated by the Federal Reserve.[46] The Federal Reserve’s approval of their bid to turn into banks ended the ascendancy of securities companies, 75 years after Congress separated them from deposit-taking lenders, and capped weeks of chaos that despatched Lehman Brothers Holdings Inc. out of business and led to the rushed sale of Merrill Lynch & Co. to Financial institution of America Corp.[47]

MUFG Financial institution, Japan’s largest financial institution, invested $9 billion in a direct buy of a 21% possession stake in Morgan Stanley on September 29, 2008.[48] The fee from MUFG was imagined to be wired electronically; nevertheless, as a result of it wanted to be made on an emergency foundation on Columbus Day when banks have been closed within the US, MUFG lower a US$9 billion bodily verify, the most important quantity written by way of bodily verify on the time.[49][50] The bodily verify was accepted by Robert A. Kindler, International Head of Mergers and Acquisitions and Vice Chairman of Morgan Stanley, on the places of work of Wachtell Lipton.[51] Issues over the completion of the Mitsubishi deal through the October 2008 inventory market volatility brought on a dramatic fall in Morgan Stanley’s inventory fee to ranges final seen in 1994. It recovered as soon as Mitsubishi UFJ’s 21% stake in Morgan Stanley was accomplished on October 14, 2008.[52][53][54][55]

Morgan Stanley borrowed $107.3 billion from the Fed through the 2008 disaster, essentially the most of any financial institution, in response to knowledge compiled by Bloomberg Information Service and revealed August 22, 2011.[56]

In 2009, Morgan Stanley bought Smith Barney from Citigroup and the brand new broker-dealer operates beneath the identify Morgan Stanley Smith Barney, the most important wealth administration enterprise on this planet.

In November 2013, Morgan Stanley introduced that it could make investments $1 billion to assist enhance inexpensive housing as a part of a wider push to encourage funding in efforts that assist financial, social and environmental sustainability.[57]

In July 2014, Morgan Stanley’s Asian personal fairness arm introduced it had raised round $1.7 billion for its fourth fund within the location.[58]

In December 2015, it was reported that Morgan Stanley can be slicing round 25 % of its constant jobs earlier than month finish.[59] In January 2016, the corporate reported that it had places of work in additional than 43 nations.[60]

In October 2020, the corporate accomplished its acquisition of E-Commerce, a deal introduced in February 2020.[61][62]

In March 2021, Morgan Stanley accomplished its acquisition of Eaton Vance, a deal introduced in October 2020. With the addition of Eaton Vance, Morgan Stanley now had $5.4 trillion of consumer property throughout its Wealth Administration and Funding Administration segments. [63]


The corporate’s 3 divisions are as follows:

Institutional Securities Group[edit]

Morgan Stanley’s Institutional Securities is essentially the most worthwhile enterprise phase. This enterprise phase offers establishments with providers reminiscent of capital elevating and monetary advisory providers together with mergers and acquisitions advisory, restructurings, actual property and mission finance, and company lending. The phase additionally encompasses the Equities and the Mounted Revenue divisions of the agency; buying and selling is anticipated to take care of its place because the “engine room” of the corporate.[64] Among the many main U.S. banks, Morgan Stanley sources the very best portion of revenues from constant underwriting which was reported at 6.0% of whole income in FY12.[65]

Wealth Administration[edit]

The International Wealth Administration Group offers stockbrokerage and funding advisory providers. This phase offers monetary and wealth planning providers to its purchasers, who’re primarily high-net-worth people.

On January 13, 2009, the International Wealth Administration Group was merged with Citi’s Smith Barney to type Morgan Stanley Smith Barney. Morgan Stanley owned 51% of the entity, and Citi holds 49%.[66] On Might 31, 2012, Morgan Stanley exercised its choice to buy a further 14% of the three way partnership from Citi.[67] In June 2013, Morgan Stanley acknowledged it had secured all regulatory approvals to purchase Citigroup’s remaining 35% stake in Smith Barney and would proceed to finalize the deal.[68]

Funding Administration[edit]

Funding Administration offers asset administration services and products in fairness, constant , various investments, actual property funding, and personal fairness to institutional and retail purchasers by way of third-party retail distribution channels, intermediaries and Morgan Stanley’s institutional distribution channel. Morgan Stanley’s asset administration actions have been principally carried out beneath the Morgan Stanley and Van Kampen manufacturers till 2009.

On October 19, 2009, Morgan Stanley introduced that it could promote Van Kampen to Invesco for $1.5 billion, however would retain the Morgan Stanley model.[69] It offers asset administration services and products to institutional traders worldwide, together with pension plans, firms, personal funds, non-profit organizations, foundations, endowments, governmental businesses, insurance coverage corporations and banks.

On September 29, 2013, Morgan Stanley introduced a partnership with Longchamp Asset Administration, a French-based asset supervisor that focuses on the distribution of UCITS hedge funds, and La Française AM, a multi-specialist asset supervisor with a 10-year observe document in various investments.[70]

Awards and honors[edit]

  • Morgan Stanley was named one of many 100 Finest Corporations for Working Moms in 2004 by Working Moms journal.[71]
  • Household Digest journal named Morgan Stanley one of many “Finest Corporations for African Individuals” in June 2004.[72]
  • Essence journal named Morgan Stanley as one of many “30 Nice Locations to Work” in Might 2004.[citation needed]
  • Morgan Stanley is listed in The Instances Prime 100 Graduate Employers, solely just lately[when?] dropping out of the highest 40.[citation needed]
  • The Instances listed Morgan Stanley fifth in its 20 Finest Large Corporations to Work For 2006.[73]
  • Nice Place to Work Institute Japan in 2007 ranked Morgan Stanley because the second finest company to work in Japan, dependent on the opinions of the staff and the company tradition.[74]




In 2003, Morgan Stanley agreed to pay $125 million to settle its portion of a $1.4 billion settlement of a go well with introduced by Eliot Spitzer, the Lawyer Basic of New York, the Nationwide Affiliation of Securities Sellers (now the Monetary Trade Regulatory Authority (FINRA), the US Securities and Change Fee (SEC), and quite a lot of state securities regulators, referring to deliberately deceptive analysis motivated by a need to win funding banking enterprise with the businesses coated.[75]


In June 2004, the New York Inventory Change (NYSE) imposed a penalty of a censure and $140,000 effective for incorrectly utilizing clients’ margined securities as collateral for money administration loans.[76]

In 2004, Morgan Stanley settled a intercourse discrimination go well with introduced by the Equal Employment Alternative Fee for $54 million.[77] In 2007, the agency agreed to pay $46 million to settle a category motion lawsuit introduced by eight feminine brokers.[78]

In July 2004, the agency paid NASD a $2.2 million effective for greater than 1,800 late disclosures of reportable details about its brokers.[79]

In September 2004, the agency paid a $19 million effective imposed by NYSE for failure to ship prospectuses to clients in registered choices, inaccurate reporting of sure program buying and selling data, brief sale violations, failures to fingerprint new staff and failure to well timed file trade types.[80]

In December 2004, the agency paid a $100,000 effective to NASD and $211,510 in restitution to clients for failure to make correct disclosures to municipal bond traders. In the middle of NASD’s investigation, Morgan Stanley’s failure to make a well timed response to requests for data resulted in censure and a further $25,000 effective.[81]


The New York Inventory Change imposed a $19 million effective on January 12, 2005, for alleged regulatory and supervisory lapses. On the time, it was the most important effective ever imposed by the NYSE.[82]

On Might 16, 2005, a Florida jury discovered that Morgan Stanley failed to provide ample data to Ronald Perelman about Sunbeam thereby defrauding him and inflicting damages to him of $604 million. As well as, punitive damages have been added for whole damages of $1.450 billion. This verdict was directed by the decide as a sanction towards Morgan Stanley after the agency’s attorneys infuriated the courtroom by failing and refusing to supply paperwork, and falsely telling the courtroom that sure paperwork didn’t exist.[83] The ruling was overturned on March 21, 2007 and Morgan Stanley was not required to pay the $1.57 billion verdict.[84]


Morgan Stanley settled a class-action lawsuit on March 2, 2006. It had been filed in California by each present and former Morgan Stanley staff for unfair labor practices instituted to these within the monetary advisor coaching program. Workers of this system had claimed the agency anticipated trainees to clock time beyond regulation hours with out further pay and deal with numerous administrative bills because of their anticipated duties. A $42.5 million settlement was reached and Morgan Stanley admitted no fault.[85]

In Might the agency agreed to pay a $15 million effective. The Securities and Change Fee accused the agency of deleting emails and failing to cooperate with SEC investigators.[86]

On September 25, 2009, Citigroup Inc. filed a federal lawsuit towards Morgan Stanley, claiming its rival didn’t pay $245 million due beneath a credit score default swap settlement. The breach-of-contract lawsuit was filed in Manhattan federal courtroom and seeks unspecified damages.[87]


FINRA introduced a $12.5 million settlement with Morgan Stanley on September 27, 2007. This resolved costs that the agency’s former affiliate, Morgan Stanley DW, Inc. (MSDW), failed on quite a few events to offer emails to claimants in arbitration proceedings in addition to to regulators. The corporate had claimed that the destruction of the agency’s e-mail servers within the September 11 assaults in 2001, terrorist assaults on New York’s World Commerce Heart resulted within the lack of all emails earlier than that date. In reality, the agency had thousands and thousands of earlier emails that had been retrieved from backup copies saved in one other location that was not destroyed within the assaults.[88] Prospects who had misplaced their arbitration circumstances towards Morgan Stanley DW Inc. due to their lack of ability to acquire these emails to reveal Morgan Stanley’s misconduct acquired a token sum of money because of the settlement.

In July 2007, Morgan Stanley agreed to pay $4.4 million to settle a class-action lawsuit. The agency was accused of incorrectly charging purchasers for storage of valuable metals.[89]

In August 2007, Morgan Stanley was fined $1.5 million and paid $4.6 million in restitution to clients associated to extreme mark-ups in 2,800 transactions. An worker was charged $40,000 and suspended for 15 days.[90]


Beneath a settlement with New York Lawyer Basic Andrew M. Cuomo, the agency agreed to repurchase roughly $4.5 billion valued at of public sale charge securities. The agency was accused of misrepresenting public sale charge securities of their gross sales and advertising.[91]


In March 2009, FINRA introduced Morgan Stanley was to pay greater than $7 million for misconduct within the dealing with of the accounts of 90 Rochester, New York-area retirees.

In Might 2009, a dealer on the agency was suspended by the FSA for a collection of unauthorized commodities trades entered after changing into intoxicated throughout a 3 and half hour lunch.[93] Per week later one other dealer on the agency was banned for intentionally disadvantaging purchasers by ‘pre-hedging’ trades with out their consent.[94]

The Monetary Companies Authority fined the agency £1.4m for failing to make use of controls correctly referring to the actions of a rogue dealer on one in all its buying and selling desks. Morgan Stanley admitted on June 18, 2008, this resulted in a $120m loss for the agency.[95]

Morgan Stanley managing director Du Jun was convicted of insider buying and selling after a legal trial in Hong Kong. Mr. Du was accused of shopping for 26.7 million shares of Citic Useful resource Holdings whereas in possession of confidential details about the corporate. He gained this data as a part of a Morgan Stanley workforce working with the corporate on a bond issuance and the acquisition of an oil subject in Kazakhstan. Morgan Stanley’s compliance division was criticized for failing to detect Mr. Du’s unlawful trades.[96]



In April, the Commodity Futures Buying and selling Fee introduced the agency agreed to pay $14 million associated to an try to cover prohibited buying and selling exercise in oil futures.[97]


A Morgan Stanley dealer was barred from the brokerage business and fined for getting into faux trades to idiot agency danger administration techniques, inflicting thousands and thousands in losses.[98]

The Division of Justice sought a $4.8 million effective from Morgan Stanley for its half in an electrical energy price-fixing scandal. Con Edison estimated that the crime price New York State customers about $300 million. Morgan Stanley earned revenues of $21.6 million from the fraud.[99]


On April 3, the Federal Reserve introduced a consent order towards the agency for “a sample of misconduct and negligence in residential mortgage loan servicing and foreclosures processing.” The consent order required the agency to assessment foreclosures proceedings carried out by the agency. The agency was additionally liable for financial sanctions.

Garth R. Peterson, one in all Morgan Stanley’s highest-ranking actual property executives in China, pleaded responsible on April 25 to violating U.S. federal anti-corruption legal guidelines. He was charged with secretly buying thousands and thousands of {dollars}’ valued at of property investments for himself and a Chinese language authorities official. The official steered enterprise to Morgan Stanley.[101]

Morgan Stanley was fined $55,000 by Nasdaq OMX for 3 violations of trade guidelines. A Morgan Stanley consumer algorithm began shopping for and promoting huge volumes by mistake. Moreover, after the trade detected the error, they have been unable to contact the worker accountable.[102]

Morgan Stanley settled a declare from FINRA and paid restitution totaling virtually $2.4 million. Morgan Stanley was accused of improperly supervising and coaching monetary advisors in the usage of non-traditional ETF merchandise. This resulted in inappropriate suggestions to a number of retail brokerage clients.[103]

Morgan Stanley is going through lawsuits and authorities investigation surrounding the Fb IPO. It was claimed that Morgan Stanley downgraded their earnings forecasts for the corporate whereas conducting the IPO roadshow. Allegedly, they handed this data to solely a handful of institutional traders. “The allegations, if true, are a matter of regulatory concern” to FINRA and the SEC in response to FINRA Chairman Richard Ketchum.[104]

Morgan Stanley agreed to pay a $5 million effective to the Commodity Futures Buying and selling Fee and a further $1.75 million to CME and the Chicago Board of Commerce. Morgan Stanley staff improperly executed fictitious gross sales in Eurodollar and Treasury Notice futures contracts.[105]

On August 7, 2012, it was introduced that Morgan Stanley would pay $4.8 million in fines to settle a price-fixing scandal, which had been estimated to have price New Yorkers $300 million to this point. Morgan Stanley made no admission of any wrongdoing; nevertheless, the Justice Division commented that they hoped this is able to “ship a message to the banking business”.[106]


In Morgan Stanley v. Skowron, 989 F. Supp. 2nd 356 (S.D.N.Y. 2013), making use of New York’s faithless servant doctrine to a case involving Morgan Stanley’s hedge fund subsidiary, United States District Choose Shira Scheindlin held {that a} hedge fund’s worker partaking in insider buying and selling in violation of his firm’s code of conduct, which additionally required him to report his misconduct, should repay his employer the total $31 million his employer paid him as compensation throughout his interval of faithlessness.[107][108][109][110] Choose Scheindlin known as the insider buying and selling the “final abuse of a portfolio supervisor’s place.”[108] The decide additionally wrote: “”Along with exposing Morgan Stanley to authorities investigations and direct monetary losses, Skowron’s conduct broken the agency’s popularity, a priceless company asset.”[108]


In February, Morgan Stanley agreed to pay $1.25 billion to the US authorities, as a penalty for concealing the total danger related to mortgage securities with the Federal Housing Finance Company.[citation needed]

In September 2014, Morgan Stanley agreed to pay $95 million to resolve a lawsuit by the Public Workers’ Retirement System of Mississippi (MissPERS) and the West Virginia Funding Administration Board. Morgan Stanley was accused of deceptive traders in mortgage-backed securities.[111]


In Might 2015, Morgan Stanley was fined $2 million for short-interest reporting and rule violations for greater than six years, by FINRA.[112]

In June, FINRA introduced that it fined Morgan Stanley Smith Barney, LLC (Morgan Stanley) $650,000 for failing to implement affordable supervisory techniques to watch the transmittal of buyer funds to third-party accounts.


February 2016, Morgan Stanley pays $3.2 billion to settle with state and federal authorities over Morgan Stanley’s creation of mortgage-backed bonds earlier than the monetary disaster.[114]

August 2016, Morgan Stanley Hong Kong Securities Ltd. was fined HK$18.5 million ($2.4 million) by Hong Kong’s securities regulator, Securities and Futures Fee, for violations of Hong Kong’s Code of Conduct. Included was Morgan Stanley’s failure to keep away from a battle of curiosity between principal and company buying and selling.[115]

December 2016, one other unit of Morgan Stanley paid $7.5 million to settle buyer safety rule violations.[116]


In January 2017, the company was fined $13 million resulting from overbilling and violating investor asset safeguarding custody guidelines. Morgan Stanley agreed to pay the effective with out commenting on the fees.[116]


Douglas E. Greenberg, a broking service, was fired in 2018 after it was reported that 4 girls from Lake Oswego, Oregon, had sought police safety towards him over a 15-year interval on allegations of harassment, threats, and assault.[117][118][119][120] Based on the report, Morgan Stanley executives have been conscious of the allegations, and knew of a minimum of two arrests and a federal subpoena towards him, however didn’t take any motion.[117][121] The story was known as a #MeToo second for Portland’s monetary service business.[119] He managed tens of thousands and thousands of {dollars}, and had made the 2018 Forbes record for high wealth advisors in Oregon.[117][122]

In December 2018, FINRA introduced a $10 million effective towards Morgan Stanley for failures in its anti-money laundering compliance. Morgan Stanley violated the Financial institution Secrecy Act over a interval of 5 years.[123]


In April 2019, Morgan Stanley agreed to pay $150 million to settle costs that it had misled two massive California public pension funds concerning the dangers of mortgage-backed securities.[124] California Lawyer Basic Xavier Becerra commented: “Morgan Stanley lied concerning the danger of its merchandise and put earnings over academics and public staff who relied on its recommendation.” Morgan Stanley denied wrongdoing.[125]

In November 2019, Morgan Stanley fired or positioned on depart 4 merchants for suspected securities mismarking. The agency suspected that $100–140 million in losses have been hid by the mismarking of the worth of the securities.[126]

Morgan Stanley additionally paid $382,500 for failure to oversee a broking service’s buying and selling exercise over a four-year interval.[127] The agency paid $225,000 for transactions the place clients offered one municipal bond whereas buying one other municipal bond that was almost equivalent to the bond offered or supplied no obvious financial profit to the shopper. These transactions generated $340,000 in commissions and charges for Morgan Stanley.[128]

Morgan Stanley paid a $1.5 million effective to settle SEC claims that it put consumer cash into costlier mutual fund share lessons when cheaper choices have been obtainable regardless of representations to purchasers that it used instruments to search out the least pricey choice.[129]



In Might 2020, Morgan Stanley agreed to pay a $5 million penalty to settle allegations made by the SEC that the company supplied deceptive data to some purchasers within the retail wrap rate applications relating to trade-execution providers and transaction prices.[130]

Record of officers and administrators[edit]

Working committee[131][edit]

  • James P. Gorman: Chairman and Chief Government Officer
  • Jeff Brodsky: Chief Human Assets Officer
  • Mark Eichorn: International Co-Head of Funding Banking
  • Eric Grossman: Chief Authorized Officer
  • Keishi Hotsuki: Chief Threat Officer
  • Susan Huang: International Co-Head of Funding Banking
  • Sam Kellie-Smith: International Head of Mounted Revenue
  • Thomas Nides: Vice Chairman
  • Shelley O’Connor: Chairman and CEO, Morgan Stanley Personal Financial institution, N.A., and Morgan Stanley Financial institution, N.A.
  • Franck Petitgas: Head of Worldwide
  • Ted Choose: International Head of Institutional Securities
  • Jonathan Pruzan: Chief Monetary Officer
  • Robert Rooney: International Head of Expertise, Operations, and Agency Resilience
  • Andy Saperstein: Head of Wealth Administration
  • Dan Simkowitz: Head of Funding Administration
  • Clare Woodman: Head of Europe, the Center East, and Africa

Board of administrators[132][edit]

Record of former chief executives[133][edit]

  1. Richard B. Fisher (1991–1997)
  2. Phil Purcell (1997–2005)
  3. John Mack (2005–2009)

International and different headquarters[edit]

The Morgan Stanley world headquarters are positioned in New York Metropolis, the European headquarters are in London, Asia Pacific headquarters are in each Hong Kong and Tokyo, Canada headquarters in Toronto.

Notable alumni[edit]

  • Dan Ammann, Chief Government Officer, Cruise Automation[136]
  • Barton Biggs, creator and hedge fund supervisor
  • Erskine Bowles, Clinton White Home Chief of Employees
  • Richard A. Debs, Chairman of Carnegie Corridor; Center East power-broker
  • Bob Diamond, former Chief Government Officer, Barclays
  • Egon Durban, Co-CEO, Silver Lake Companions
  • Henry A. Fernandez, CEO, MSCI, Inc.
  • Richard B. Fisher, Chairman of the Board, Rockefeller College and Bard School; member, Trilateral Fee
  • Ben Fried, Chief Info Officer, Google[137]
  • Eric Gleacher, Founding father of Gleacher & Co.
  • Nina Godiwalla, creator of Fits: A Girl on Wall Road
  • David Grimaldi, Chief Administrative Officer, New Fortress County Authorities
  • John Havens, former President, Citigroup, Inc.
  • Nigel MacEwan, former Chief Government Officer, Kleinwort Benson North America; former President, Merrill Lynch
  • John J. Mack, Chairman of the Board of New York-Presbyterian Hospital
  • Mary Meeker, Kleiner Perkins associate and founder, Bond Capital
  • Mitchell M. Merin, monetary government
  • Eileen Murray, Co-President, Bridgewater Associates
  • Dr. Ann Olivarius, Chair, McAllister Olivarius, trans-Atlantic employment and discrimination lawyer
  • Stephen A. Oxman, Assistant Secretary of State; Chair, Princeton College Board of Trustees
  • Vikram Pandit, former Chief Government Officer, Citigroup
  • Joseph R. Perella, philanthropist; Founding father of Perella Weinberg Companions
  • Charles E. Phillips, former President of Oracle, Inc.; C.E.O. of Infor
  • Ruth Porat, Chief Monetary Officer; Alphabet Inc.
  • Frank Quattrone, Founder, Qatalyst Group
  • Steven Rattner, personal fairness supervisor and commentator
  • Stephen S. Roach, Yale College professor
  • Benjamin M. Rosen, Co-founder, Compaq Laptop; Chairman, California Institute of Expertise
  • David E. Shaw, hedge fund supervisor
  • Chip Skowron, hedge fund portfolio supervisor convicted of insider buying and selling
  • Bjarne Stroustrup, developer of the C++ programming language [138]
  • John J. Studzinski, CBE, American-British funding banker and philanthropist
  • Andrew Toy, President and Chief Expertise Officer, Clover Well being, Divide co-founder [139][140]
  • Alexander Trewby, Divide co-founder[140]
  • Sir David Walker, Chairman, Barclays PLC
  • Kevin Warsh, G.W. Bush financial advisor; Member, Federal Reserve Board of Governors

See additionally[edit]

  1. ^ Morgan Stanley 2020 Proxy assertion
  2. ^ a b c “Morgan Stanley 2019 Type 10-Ok Annual Report”.
  3. ^ “Basel III Pillar 3 Disclosures Report For the Quarterly Interval Ended December 31, 2019” (PDF).
  4. ^ “Fortune 500 Corporations 2018: Who Made the Record”. Fortune. Retrieved November 10, 2018.
  5. ^ a b “Morgan Stanley Interactive Timeline”. Archived from the unique on March 23, 2016. Retrieved Might 14, 2018.
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