Part of it is JPMorgan Chase, who continues to engage in traditional commercial banking business;
The other part was separated and a completely independent investment bank named Morgan Stanley was established.
At that time, 20 people walked out of Morgan Bank to form Morgan Stanley, and the senior staff almost completely mastered the common stock of 500,000 US dollars. The real initial share capital is $7 million of non-voting preferred stock. On the first night of the company's opening, a janitor prepared a table to receive flowers from guests. When he went to work the next day, he found that the street in front of Morgan Stanley was already filled with more than 200 flower baskets. Morgan Stanley's competitors and colleagues on Wall Street paid their respects in this way.
There were so many companies talking about business in the first week that when the chairman of a big company came to talk about financing, Harold Stanley said, "Let him come back next week." In the first year, Morgan Stanley took over the distribution business of $654.38+0 billion, sweeping the market share of 654.38+0/4. At that time, the company had only 20 employees.
From 1935 to 1970, the power of Buddhism to unify the whole country is remarkable. No investment bank can compare with it in the future. Its customers include six of the top ten oil giants in the world and seven of the top ten companies in the United States. The only advertising slogan at that time was "If God wants financing, he also wants to find Morgan Stanley."
Therefore, some people say that "Morgan Stanley has inherited most of the aristocratic lineage of Morgan Consortium, the most powerful financial group in American history, and represents the glorious history of American financial giants leading the modern global financial market." Therefore, the book Morgan Consortium holds that "Morgan's strategy is to make customers feel that they are allowed to join a private club, and their accounts are equivalent to membership cards of aristocratic society."
1974, Morgan Stanley made its first hostile takeover, which dominated the outrageous world of hostile takeover. For more than 20 years, Morgan Stanley has been the number one M&A consultant in the United States. Before 2000, its rate of return on net assets was above 30%, and it has been listed as a leader among listed securities companies.
"Morgan Stanley, the most respected top investment bank on Wall Street, will merge with retail broker Tim Hui!" 1997, which itself shocked the international financial community. However, the sobriety of Morgan Stanley bankers has reassured most people. After all, Morgan Stanley bankers are also authoritative experts in this industry. Today, most people's suspicions seem to be correct. Since then, Morgan Stanley's performance has been declining.
For Morgan Stanley 70 years later, the spring of 2005 will be an unsettled and even epoch-making spring.
background information
Morgan Consortium (the predecessor of Morgan Stanley and GP Morgan) has been all-powerful in the financial market in the United States and even the world for more than 200 years since its silent start-up in Victorian era. The history of Morgan consortium is almost the financial development history of the United States and even the whole world in the Morgan era.
As a monument to American financial success, Morgan Consortium has been standing at the core of the top ten consortia in the United States for 200 years, while other consortia have been constantly entering or being squeezed out of the top ten consortia.
In the major crises of Wall Street and London Financial District, Morgan Consortium played the role of the US central bank for 150 years.
With the prosperity of the global capital market, after 1933, Morgan Stanley, a split investment bank, has been regarded by the international financial community as inheriting the hegemony of Morgan Consortium.