Morgan Stanley is an investment bank and financial services company that in its current form is the result of the 1997 merger between the original Morgan Stanley company and Dean Witter Discover & Co. Considered a systemically important bank by the Financial Stability Board, an international organization, Morgan Stanley employs more than 60,000 people in offices spread across 42 countries. The company deals primarily in wealth management, investment management, and institutional securities, but in recent years it has relied on its wealth management division as its main source of revenue. In October 2020 the company completed the acquisition of E*Trade Financial Corporation for $13 billion in a move meant to bolster Morgan Stanley’s position as “an industry leader in wealth management across all channels and segments,” said CEO James P. Gorman.
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