Morgan Stanley is a US-based bank headquartered in New York, emerged from the division of JP Morgan on September 5, 1935 as a result of the Glass- Steagall separation of banks and brokerage firms. 1997 merged with Morgan Stanley Dean Witter, the financial service provider of Sears, Roebuck and Company. Briefly renamed the merged company as Morgan Stanley Dean Witter & Co, called today but again Morgan Stanley.
In the wake of the financial crisis starting in 2007, the company announced in September 2008 on the status of an investment bank.
Morgan Stanley is co-founder of listed MSCI, which is famous for its equity indexes. In 2009, Morgan Stanley completely separates from MSCI.
The Bank is one of the 28 major banks, which by the Financial Stability Board (FSB) as " systemically important financial institution" ( systemically important financial institution) were classified. Therefore it is subject to special monitoring and stringent requirements on the level of equity.
Financial Crisis 2007/2008
Mid-September 2008 was Morgan Stanley next to Goldman Sachs, the last independent investment bank on Wall Street. With the intention to soothe the extremely unsettled world financial markets, Morgan Stanley released its report for the second quarter of 2008 on September 16, a day earlier than originally planned. Morgan Stanley was able to take all the profit expectations and announce a surprisingly high quarterly profit of $ 1.4 billion, which was only 7% below the previous year, with net income was even slightly increased to $ 8 billion.
Nevertheless, on 18 September 2008 reports that Morgan Stanley fears in the financial crisis to be independent survival. It was written about Morgan Stanley's merger talks with the commercial bank Wachovia, which are already well advanced. In an interview, the British bank HSBC and Asian donors were. The end of September was declared that the Japanese bank Mitsubishi UFJ Financial Group ( MUFG ) involved with a substantial sum ( $ 9 billion ) at Morgan Stanley. This assumes an interest of 21 % in the capital of the Bank, and will receive preferred shares.
In January 2009, Morgan Stanley and Citigroup have agreed to combine their brokerage firms. The new broker is Morgan Stanley Smith Barney hot and be the largest U.S. brokerage firm with more than 20,000 financial advisors.
Bernard Arnault, chairman of luxury goods group LVMH, had sued in Paris against the investment bank. Arnault accused the bank to have shown the Gucci Group in a takeover battle for positive and his LVMH group systematically negative. Morgan Stanley was sued in the first instance to EUR 30 million in damages. In the second instance, Morgan Stanley was also sentenced in June 2006 in Paris. In a lawsuit challenging questionable mortgage transactions, the U.S. bank Morgan Stanley has agreed to pay $ 1.25 billion ( 925 million euros ).
In connection with the affair EnBW 2012 offices of Morgan Stanley, as well as the residence of the former chief Dirk Notheis Germany were searched by the police on behalf of the Stuttgart prosecutor's office on 11 July.
The end of August engaged in the investigation committee with the role of France chief René Proglio in which a conflict of interest was suspected because his twin brother Henri Proglio, which is Président - directeur général of EDF, the contract for the EdF negotiated.