Morgan Stanley

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Morgan Stanley

logo
legal form Corporation
ISIN US6174464486
founding September 5, 1935
Seat New York City , United States
management James P. Gorman ( Chairman & CEO )
Number of employees 60,348
sales $ 40.107 billion (2018)
Branch Financial service providers
Website www.ms.com
As of December 31, 2018

Morgan Stanley is an American investment banking and securities trading company headquartered in New York , formed from the division of JP Morgan on September 5, 1935 as a result of the Glass-Steagall Act to separate banks and securities trading houses. In 1997, Morgan Stanley merged with Dean Witter , the financial services provider of Sears, Roebuck and Company . For a short time, the merged company operated as Morgan Stanley Dean Witter & Co , but is now called Morgan Stanley again.

In the course of the financial crisis from 2007 onwards , the company gave up its investment bank status in September 2008 .

Morgan Stanley is a co-founder of the publicly traded MSCI , best known for its stock indices . In 2009, Morgan Stanley completely separated from MSCI.

The bank is one of the 30 major banks that have been classified by the Financial Stability Board (FSB) as a “systemically important financial institution”. It is therefore subject to special monitoring and stricter requirements for the endowment with equity . The company is headquartered in Manhattan, New York City. In total, Morgan Stanley has offices in 42 countries and 55,000 employees. Customers include corporations, governments, institutions and individuals.

2007/2008 financial crisis

In mid-September 2008, Morgan Stanley was the last independent investment bank on Wall Street alongside Goldman Sachs . With the intention of calming the extremely uncertain financial markets worldwide , Morgan Stanley published its report for the second quarter of 2008 on September 16, one day earlier than originally planned. Morgan Stanley was able to beat all profit expectations and announce a surprisingly high quarterly profit of 1.4 billion US dollars, which was only 7% below the previous year, with net income even increasing slightly to 8 billion US dollars.

Nevertheless, it was reported on September 18, 2008 that Morgan Stanley feared for its independent survival in the financial market crisis. It was written about Morgan Stanley's merger talks with the commercial bank Wachovia , which were well advanced. The British bank HSBC and Asian donors were also in discussion . At the end of September it was announced that the major Japanese bank Mitsubishi UFJ Financial Group (MUFG) is taking a substantial stake (US $ 9 billion) in Morgan Stanley. This takes on a 21% stake in the bank's capital and receives preferred shares in return .

In January 2009, Morgan Stanley and Citigroup agreed to merge their brokerage houses . The new brokerage house will be called Morgan Stanley Smith Barney and will be the largest US brokerage house with over 20,000 financial advisors.

Convictions

Bernard Arnault , chairman of luxury goods - group LVMH had in Paris appealed against the investment bank. Arnault accused the bank of portraying the Gucci group too positively in a takeover battle and systematically portraying its LVMH group too negatively. Morgan Stanley was sentenced to EUR 30 million in damages in the first instance . Morgan Stanley was also convicted in Paris in June 2006 at the second instance. In the legal dispute over questionable mortgage transactions, the US bank Morgan Stanley has agreed to pay 1.25 billion US dollars (925 million euros).

EnBW affair

In connection with the EnBW affair , on July 11, 2012, the offices of Morgan Stanley and the apartment of the then Germany boss Dirk Notheis were searched by the police on behalf of the Stuttgart public prosecutor's office.

At the end of August, the committee of inquiry dealt with the role of France boss René Proglio , who was suspected of having a conflict of interest because his twin brother Henri Proglio , who is the EdF's president-directeur général , negotiated the contract for the EdF.

literature

Web links

Individual evidence

  1. ↑ a b Annual Report 2018. Accessed March 5, 2019 .
  2. ^ Policy Measures to Address Systemically Important Financial Institutions. In: Financial Stability Board (FSB) of November 4, 2011 (PDF file; 105 kB)
  3. ↑ Update of the group of global systemically important banks (G-SIBs) (PDF; 43 kB) from November 1, 2012
  4. ↑ 10-K. Retrieved November 6, 2018 .
  5. ^ Morgan Stanley Seeks Rescuers , Focus online, Sept. 18, 2008
  6. ↑ MUFG joins Morgan Stanley , reuters.de, October 13, 2008
  7. ↑ Mitsubishi UFJ and Morgan Stanley - banks merge brokerage houses ( Memento from July 30, 2012 in the web archive archive.today ), Financial Times Deutschland , March 26, 2009
  8. ^ Parquet whispers , Tagesspiegel, July 1, 2006
  9. ↑ tagesschau.de: Morgan Stanley pays 1.25 billion in the mortgage dispute. Retrieved March 5, 2019 .
  10. ^ “Controversial EnBW deal: raid on Mappus' apartments.” Spiegel Online from July 11, 2012, accessed on February 6, 2013
  11. ^ "Committee on the EnBW affair:" There was no conflict of interest "" spiegel.de of August 21, 2012, accessed on February 6, 2013