Morgan Stanley
Company History
Morgan Stanley History: Founding, Growth & Key Milestones
Founded 1935 in New York City, United States
When was Morgan Stanley founded?
Morgan Stanley was founded in 1935 in New York City, United States by Henry S. Morgan and Harold Stanley, making it 91 years old.
- Founded
- 1935
- Founding place
- New York City, United States
- Founders
- Henry S. Morgan and Harold Stanley
- Headquarters today
- New York, New York, United States
- Milestones documented
- 11 (1935–2024)
- Current CEO
- Ted Pick
- Acquisitions
- 3
| Year | Event |
|---|---|
| 1935 | Morgan Stanley Founded |
| 1996 | Acquired Van Kampen American Capital |
| 1997 | Merged with Dean Witter Discover & Co |
| 2005 | John Mack Returns as CEO |
| 2008 | Bank Holding Company Conversion |
| 2009 | The Smith Barney Acquisition |
| 2010 | James Gorman Becomes CEO |
| 2018 | Acquired Mesa West |
| 2020 | E*TRADE Acquisition |
| 2021 | Acquired Eaton Vance |
| 2024 | Ted Pick Appointed CEO |
- Where was Morgan Stanley founded?
- Morgan Stanley was founded in New York City, United States in 1935. wikidata.org
- Who founded Morgan Stanley?
- Morgan Stanley was founded by Henry S. Morgan and Harold Stanley.
- When did Morgan Stanley start?
- Morgan Stanley was founded in 1935.
- How old is Morgan Stanley?
- Morgan Stanley is 91 years old as of 2026.
Founding Story
The Banking Act of 1933 (Glass-Steagall) forced J.P. Morgan & Co. to choose between commercial and investment banking. It kept the commercial bank, and in 1935 partners Henry S. Morgan, a grandson of J. Pierpont Morgan, and Harold Stanley left to open Morgan Stanley as a securities firm at 2 Wall Street.
Founders
Henry S. Morgan
Henry S. Morgan co-founded Morgan Stanley in 1935 after the Glass-Steagall Act required J.P. Morgan & Co. to separate its securities business from commercial banking. He brought the Morgan name and client relationships to the new firm and remained a senior partner for decades. Henry S. Morgan was born in 1900 in London. Education: Harvard University. Morgan was born on October 24, 1900 and died on February 8, 1982. He was also president and chairman of the Morgan Library and Museum.
Harold Stanley
Harold Stanley (1885-1963) co-founded Morgan Stanley in 1935 alongside Henry S. Morgan. Following the passage of the Glass-Steagall Act, which forced banks to separate commercial and investment banking, Stanley left J.P. Morgan & Co. to establish the new firm purely as an investment bank. He served as the firm's president, rapidly securing massive corporate clients and establishing Morgan Stanley's initial dominance in Wall Street underwriting. Education: Hotchkiss School. Stanley was born on October 2, 1885 and died on May 14, 1963. He ran Morgan Stanley for 20 years and left the firm in 1955. Harold Stanley was born in 1885.
Key Milestones
Morgan Stanley Founded
Henry S. Morgan and Harold Stanley officially launch the top investment bank following the historic Glass-Steagall split.
Source: en.wikipedia.orgAcquired Van Kampen American Capital
Morgan Stanley acquired Van Kampen American Capital in 1996.
Source: en.wikipedia.orgMerged with Dean Witter Discover & Co
Morgan Stanley merged with Dean Witter Discover & Co in February 1997.
Source: en.wikipedia.orgJohn Mack Returns as CEO
John Mack returned as chief executive in June 2005 after Philip Purcell resigned.
Source: en.wikipedia.orgBank Holding Company Conversion
Facing total catastrophic collapse, the firm converts into a traditional bank holding company to survive the global financial crisis.
Source: en.wikipedia.orgThe Smith Barney Acquisition
then-CEO James Gorman masterminds the acquisition of Smith Barney, instantly creating a dominant retail wealth management leader.
Source: en.wikipedia.orgJames Gorman Becomes CEO
James Gorman became chief executive of Morgan Stanley in January 2010.
Source: en.wikipedia.orgE*TRADE Acquisition
Morgan Stanley dominates the self-directed brokerage market by acquiring E*TRADE for $13 billion.
Source: en.wikipedia.orgAcquired Eaton Vance
Morgan Stanley acquired Eaton Vance for $7 billion. Morgan Stanley acquired Eaton Vance for about $7B, completed in March 2021, adding Parametric, Calvert, and Atlanta Capital.
Source: en.wikipedia.orgTed Pick Appointed CEO
Following a competitive internal succession, Ted Pick takes the helm to heavily drive the integration strategy.
Source: en.wikipedia.orgMajor Acquisitions
E*TRADE
2020Morgan Stanley bought E*TRADE in an all-stock deal valued at about $13B, completed in October 2020, to add self-directed investors and stock-plan clients.
Eaton Vance
2021Morgan Stanley acquired Eaton Vance for about $7B, completed in March 2021, adding Parametric, Calvert, and Atlanta Capital.
Smith Barney
2009In 2009 Morgan Stanley formed the Morgan Stanley Smith Barney joint venture with Citigroup, taking a 51% stake, and bought out Citi's remaining interest by 2013.
Keep researching Morgan Stanley
Morgan Stanley Company History FAQ
What are the major historical milestones in Morgan Stanley's journey since 1935?
Key milestones include its 1935 founding at 2 Wall Street, lead-managing historic IPOs (such as General Motors in 1958 and Apple in 1980), going public on the NYSE in 1986, merging with Dean Witter in 1997, converting to a bank holding company in 2008, acquiring Smith Barney (2009 to 2013), and acquiring E*TRADE and Eaton Vance (2020 to 2021).
When did Morgan Stanley become a publicly traded corporation on the New York Stock Exchange?
Morgan Stanley completed its initial public offering (IPO) on the New York Stock Exchange in 1986, raising public capital to finance global expansion in institutional trading, mergers & acquisitions, and international hubs.
How did Morgan Stanley manage landmark corporate initial public offerings in Wall Street history?
Morgan Stanley lead-underwrote many of the most famous IPOs in corporate history, including the $650 million General Motors offering in 1958, Apple Computer in 1980, Google in 2004, Facebook (Meta) in 2012, and Alibaba in 2014.
What occurred during the 2008 financial crisis that reshaped Morgan Stanley's corporate structure?
In September 2008, amid the collapse of Lehman Brothers and extreme Wall Street liquidity pressures, Morgan Stanley converted into a Federal Reserve-regulated Bank Holding Company and secured a vital $9 billion capital investment from Japan's MUFG.
How did Morgan Stanley's alliance with Japan's MUFG evolve following the 2008 investment?
The alliance evolved into a highly successful global strategic partnership and joint ventures in Japan (Mitsubishi UFJ Morgan Stanley Securities and Morgan Stanley MUFG Securities), generating collaborative investment banking revenues.
Where were Morgan Stanley's offices located during the September 11, 2001 attacks?
Morgan Stanley was the largest tenant in the World Trade Center complex in 2001; thanks to disciplined evacuation procedures led by Head of Corporate Security Rick Rescorla, over 2,680 employees were safely evacuated from the South Tower.
How did Morgan Stanley scale its operations across European and Asian financial centers?
Beginning in the 1970s and 1980s, Morgan Stanley opened major regional operational centers in London, Tokyo, Hong Kong, and later Frankfurt, establishing leading sovereign debt and equity underwriting capabilities worldwide.
What was the strategic outcome of James Gorman's 14-year CEO tenure ending in 2023?
James Gorman's tenure tripled Morgan Stanley's market capitalization, grew client wealth assets past $6 trillion, elevated return on tangible common equity past 15%, and established the firm as Wall Street's most diversified financial leader.
Why was Morgan Stanley founded as an independent firm in 1935?
The Glass-Steagall Act of 1933 mandated that commercial banks could no longer underwrite or trade corporate securities. Faced with choosing between deposit banking and securities underwriting, J.P. Morgan & Co. chose commercial banking. Consequently, senior partner Harold Stanley and J.P. Morgan's grandson Henry S. Morgan resigned to launch Morgan Stanley in September 1935 at 2 Wall Street, capturing 24% of all US public bond and stock underwriting in their very first year.
How did Mitsubishi UFJ (MUFG) save Morgan Stanley during the 2008 financial crisis?
In September 2008, following the collapse of Lehman Brothers, Morgan Stanley suffered severe hedge fund liquidity runs. CEO John Mack orchestrated an emergency transaction with Japan's Mitsubishi UFJ Financial Group (MUFG). Over Columbus Day weekend in October 2008, MUFG delivered a historic $9 billion equity check in exchange for a 20% stake, providing the capital cushion that saved Morgan Stanley from collapse.
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