Morgan Stanley

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Morgan Stanley is a global financial services firm headquartered in New York City serving a diversified group of corporations, governments, financial institutions, and individuals. Morgan Stanley also operates in 36 countries around the world, with over 600 offices and a workforce of over 60,000.[1] The company reports US$779 billion as assets under its management.[2] It is headquartered in Midtown Manhattan, New York City.[3]

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[4] that resulted in a loss of a number of the firm's staff [5] and ultimately saw the firing of its then CEO Philip Purcell in 2005.

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