Morgan Stanley

Some of the key events about Morgan Stanley

• 1932

  Faced criticism for underwriting bonds for repressive Latin American regimes
• 1935

  Founded as an investment bank in New York City
• 1941

  Became a publicly traded company on the New York Stock Exchange
• 1975

  Established its first international office in Paris
• 1986

  Acquired E.F. Hutton & Co., significantly expanding its retail brokerage business
• 1994

  Paid $9 million to settle charges of improper handling of customer accounts
• 1997

  Merged with Dean Witter, Discover & Co., creating a major retail brokerage and asset management firm
• 2001

  Spun off its Discover Card business, focusing on core financial services
• 2003

  Agreed to pay $125 million to settle allegations of biased stock research
• 2004

  Fined $19 million for failure to produce email evidence in legal proceedings
• 2007

  Incurred $9.4 billion in losses from subprime mortgage investments
• 2008

  Converted to a bank holding company during the financial crisis, ensuring its survival
• 2008

  Received a $10 billion bailout from the U.S. government during the financial crisis
• 2009

  Acquired Smith Barney from Citigroup, becoming a global leader in wealth management
• 2010

  Paid $102 million to settle claims of overcharging customers for currency trades
• 2013

  Completed the purchase of the remaining stake in Morgan Stanley Smith Barney
• 2016

  Agreed to pay $3.2 billion to settle claims related to its role in the 2008 mortgage crisis
• 2019

  Fined $1.5 million for insufficient anti-money laundering program at its commodities business
• 2020

  Acquired E*TRADE, expanding its digital banking and online brokerage services
• 2022

  Paid $200 million to resolve investigations into employee communications on unapproved devices

Disclaimer: This material is written based on information taken from open sources, including Wikipedia, news media, podcasts, and other public sources.