Morgan Stanley Wealth Management
Morgan Stanley Wealth Management is an American multinational financial services corporation specializing in retail brokerage.[1] Clients range from individual investors to small- and mid-sized businesses, as well as large corporations, non-profit organizations and family foundations.In 1982, SBHU Holdings was renamed Smith Barney Inc.[4] During the 1980s, the company was known for its television commercials featuring actor John Houseman, with the catchphrase, "They make money the old-fashioned way.In 1992, they paid $722 million ($1,567,614,892 today) to buy a 27% share of Travelers Insurance and in 1993 acquired Shearson (which included the legacy business of E.F. Hutton) from American Express.By the end of 1993, the merged company was known as Travelers Group Inc.[citation needed] although the brokerage business continued to operate under the Smith Barney brand.At the time of the September 11, 2001, attacks, it was the largest tenant in 7 World Trade Center, occupying 1,202,900 sq ft (111,750 m2) (64 percent of the building) which included floors 28–45.[12][13] During the 2007–2008 financial crisis, Citigroup suffered large losses in its retained collateralized debt obligation exposure (loans that Citi underwrote but was not able to sell), and had to be rescued by the U.S. federal government.The combined entity generates about $14 billion in net revenue, has 18,500 financial advisors, 1,000 locations worldwide and serves about 6.8 million households.[19] The following is an illustration of the company's major mergers and acquisitions and historical predecessors (this is not a comprehensive list):[20] Morgan Stanley(est.
PrivateFinancial servicesHenry S. MorganHarold StanleyCharles D. BarneyEdward B. SmithPurchase, New YorkJames P. GormanchairmanRetail brokerageasset managementinvestment bankingOperating incomeNet incomeParentMorgan StanleymultinationalCitigroupbroker-dealerCharles D. Barney & Co.Edward B. Smith & CoNew YorkPhiladelphiaJay Cooke & CompanyGuaranty Trust CompanyGlass Steagall Actholding companyJohn HousemancatchphraseLeo McKernJoel HigginsGeorge C. ScottShearson Lehman HuttonAmerican ExpressSanford I. WeillPrimerica CorporationShearsonE.F. HuttonJoe PlumeriSalomon Brothers Inc.September 11, 2001, attacks7 World Trade Center2007–2008 financial crisiscollateralized debt obligationrescuedU.S. federal government Mitsubishi UFJ Financial GroupDean WitterMorgan StanleyDean Witter ReynoldsReynolds SecuritiesShearson Lehman HuttonShearson Lehman BrothersShearson/American ExpressShearson Loeb RhoadesShearson Hayden StoneHayden Stone, Inc.Cogan, Berlind, Weill & LevittHayden, Stone & Co.Shearson, Hammill & Co.Loeb, Rhoades, Hornblower & Co.Loeb, Rhoades & Co.Carl M. Loeb & Co.Rhoades & CompanyHornblower, Weeks, Noyes & TraskHornblower & WeeksSpencer Trask & Co.FinancoLehman Brothers Kuhn LoebLehman BrothersKuhn, Loeb & Co.E. F. Hutton & Co.The Wall Street JournalBusiness WeekThe DispatchBusiness InsiderHenry Sturgis MorganTed PickRobert A. KindlerRuchir SharmaThomas NidesWei ChristiansonBarton BiggsColm KelleherJohn J. StudzinskiKasim KutayMitchell M. MerinPhilip J. PurcellRobert F. GreenhillRobert ScottRuth PoratS. Parker GilbertStephen S. RoachVikram PanditE-TradeEaton VanceMetalmark CapitalPDT PartnersDean Witter ReynoldsMorgan, Harjes & Co.Morgan Stanley BuildingMorgan Stanley Children's Hospital