FedEx vs Morgan Stanley: Founders, CEOs and History
FedEx was founded in 1971 by Frederick W. Smith and is led by Raj Subramaniam. Morgan Stanley was founded in 1935 by Henry S. Morgan, Harold Stanley and is led by Ted Pick.
Company facts
FedEx
- Founded
- 1971
- Headquarters
- Memphis, Tennessee
- Current CEO
- Raj Subramaniam
- Employees
- 529,000
Morgan Stanley
- Founded
- 1935
- Headquarters
- New York, New York, United States
- Current CEO
- Ted Pick
- Employees
- 83,000
Founders
FedEx
Frederick W. Smith
Frederick W. Smith founded Federal Express in 1971 and ran it for more than 50 years, building the hub-and-spoke overnight delivery model now used across the express industry.
Morgan Stanley
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.
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.
CEOs and their tenures
FedEx
- Frederick W. Smith1971–2025
Founder, Chief Executive Officer (1971-2022) and Executive Chairman (2022-2025)
He invented the modern overnight express delivery industry, building FedEx from a Yale University term paper into a massive global logistics empire before retiring as CEO in 2022.
Source - Raj Subramaniam2022–present
President and Chief Executive Officer
Under Subramaniam, FedEx revenue rose from $87.693 billion in FY2024 to $94.720 billion in FY2026, the company merged its operating companies into Federal Express, rolled out Network 2.0, and completed the June 2026 FedEx Freight spin-off.
Source - R. Brad Martin2025–present
Executive Chairman and Chairman of the Board
As Chairman of the Board, he oversees the ongoing multi-billion dollar cost-cutting initiatives designed to close the operating margin gap with rival UPS.
Source
Morgan Stanley
- James Gorman2010–2023
Former Chairman and Chief Executive Officer
Gorman's tenure moved Morgan Stanley toward recurring fee revenue. He became executive chairman after stepping down as CEO and left the board at the end of 2024.
Source - Ted Pick2024–present
Chairman and Chief Executive Officer
Under Pick, Morgan Stanley reported record 2025 net revenues of $70.6B and record Q2 2026 results.
Source
Timeline: FedEx and Morgan Stanley side by side
1935Morgan Stanley
Morgan Stanley Founded
Henry S. Morgan and Harold Stanley officially launch the top investment bank following the historic Glass-Steagall split.
1971FedEx
Federal Express Founded
Frederick W. Smith incorporates Federal Express Corporation, planning to build an overnight air-delivery network around a central Memphis hub.
1973FedEx
Commercial Operations Begin
Federal Express begins commercial service from Memphis using a hub-and-spoke overnight model, surviving early near-bankruptcy on fuel costs.
1978FedEx
FedEx Goes Public
The company completes its initial public offering to finance network expansion.
1996Morgan Stanley
Acquired Van Kampen American Capital
Morgan Stanley acquired Van Kampen American Capital in 1996.
1997Morgan Stanley
Merged with Dean Witter Discover & Co
Morgan Stanley merged with Dean Witter Discover & Co in February 1997.
1998FedEx
Caliber System Acquisition
FedEx acquires Caliber System for about $2.4 billion, adding the assets that become FedEx Ground and FedEx Freight.
2004FedEx
Acquired Kinko's
FedEx acquired Kinko's for $2.4 billion. FedEx bought Kinko's for about $2.4 billion and rebranded the stores as FedEx Office.
2008Morgan Stanley
Bank Holding Company Conversion
Facing total catastrophic collapse, the firm converts into a traditional bank holding company to survive the global financial crisis.
2009Morgan Stanley
The Smith Barney Acquisition
then-CEO James Gorman masterminds the acquisition of Smith Barney, instantly creating a dominant retail wealth management leader.
2016FedEx
TNT Express Acquisition
FedEx acquires TNT Express for about $4.4 billion to expand its European and international express network.
2018Morgan Stanley
Acquired Mesa West
Morgan Stanley acquired Mesa West in March 2018.
2020Morgan Stanley
E*TRADE Acquisition
Morgan Stanley dominates the self-directed brokerage market by acquiring E*TRADE for $13 billion.
2021Morgan Stanley
Acquired 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.
2022FedEx
Raj Subramaniam Becomes CEO
Raj Subramaniam succeeds founder Frederick W. Smith as CEO, becoming only the second CEO in FedEx history, and launches the DRIVE and Network 2.0 transformation programs.
2024Morgan Stanley
Ted Pick Appointed CEO
Following a competitive internal succession, Ted Pick takes the helm to heavily drive the integration strategy.
2025FedEx
Founder Fred Smith Dies
Frederick W. Smith dies on June 21, 2025. Longtime director R. Brad Martin becomes chairman and later executive chairman.
2026FedEx
FedEx Freight Spin-Off Completed
On June 1, 2026 FedEx completes the spin-off of FedEx Freight Holding Company, which begins trading on the NYSE as FDXF.
2026FedEx
FY2026 Revenue Reaches $94.7B
FedEx reports $94.720 billion in FY2026 revenue, $4.433 billion in net income, and capex of 4.0% of revenue, a record low ratio.
Acquisitions
FedEx
- ShopRunner2020Undisclosed
- TNT Express2016$4.4B
- Kinko's2004$2.4B
- Parcel Direct2004Undisclosed
- American Freightways2001Undisclosed
- Caliber System1998$2.4B
Morgan Stanley
- Eaton Vance2021$7B
- E*TRADE2020$13B
- Smith Barney2009Undisclosed
Questions about FedEx vs Morgan Stanley
Who is the CEO of FedEx Corporation and Morgan Stanley?
FedEx Corporation is led by Raj Subramaniam and Morgan Stanley is led by Ted Pick. Both serve as the top executive responsible for the company's strategy, operations, and financial performance.
When was FedEx Corporation founded vs Morgan Stanley?
Morgan Stanley was founded in 1935 — 36 years before FedEx Corporation, which was founded in 1971. Morgan Stanley's longer operating history gives it a deeper track record but also potentially more institutional inertia compared to the younger FedEx Corporation.
How many employees does FedEx Corporation have compared to Morgan Stanley?
FedEx Corporation employs approximately 529,000 people, while Morgan Stanley employs approximately 83,000. FedEx Corporation has the larger workforce at 529,000 employees, compared to Morgan Stanley's 83,000. A higher headcount does not necessarily imply greater efficiency — it often reflects differences in business model (e.g., manufacturing vs. software).
Where are FedEx Corporation and Morgan Stanley headquartered?
Both FedEx Corporation and Morgan Stanley are headquartered in United States, meaning they operate under the same primary regulatory and tax environment.
Who founded FedEx Corporation and Morgan Stanley?
FedEx Corporation was founded by Frederick W. Smith. Morgan Stanley was founded by Henry S. Morgan, Harold Stanley.
Which company has a longer operating history — FedEx Corporation or Morgan Stanley?
Morgan Stanley has been operating for approximately 91 years, making it the more established of the two companies. FedEx Corporation has been in operation for around 55 years. A longer operating history often signals greater institutional resilience and brand recognition, though it can also mean slower adaptation to new market conditions.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the FedEx vs Morgan Stanley overview