Executive Summary

Morgan Stanley, a financial holding company, is a global financial services firm that maintains
significant market positions in each of its business segments-Institutional Securities, Wealth
Management and Investment Management. The Company, through its subsidiaries and affiliates,
provides a wide variety of products and services to a large and diversified group of clients and
customers, including corporations, governments, financial institutions and individuals.
The corporation, formed by J.P. Morgan & Co. partners Henry S. Morgan (grandson of J.P.
Morgan), Harold Stanley and others, came into existence on September 16, 1935, in response to
the Glass-Steagall Act that required the splitting of commercial and investment banking businesses.
Since its founding in 1935, Morgan Stanley and its people have helped redefine the meaning of financial
services. The firm has continually broken new ground in advising our clients on strategic transactions, in
pioneering the global expansion of finance and capital markets, and in providing new opportunities for
individual and institutional investors.
Morgan Stanley provides services in multiple domains, some of which are listed below:
Sales and Trading offers cash and electronic trading platforms where Morgan Stanley acts as principal
(including as a market maker) and agent in executing transactions globally in equity and equity-related
products.
Investment Management strives to provide outstanding long-term investment performance and bestin-class service to a diverse client base, which includes governments, institutions, corporations and
individuals worldwide.
Investment Banking services from Morgan Stanley consistently ranks among the top firms in mergers
and acquisitions, equity underwriting and debt financings. The Investment Banking Division
offers unsurpassed financial advisory and capital-raising services to corporations, organizations and
governments around the world.
Research on investment and economic market trend is one of the key functions of Morgan Stanley
With industry's dominant thought leaders in equity and fixed-income investing, research teams are
organized by country, region, and global industry to cover all major markets in Asia, Europe, EMEA,
Japan, Latin America, and North America. The economists not only forecast economic activity, inflation,
interest and exchange rates but also provide daily insights into policy, economic, and political trends.
Working across equity and fixed income markets, the strategy team seeks significant market trends,
themes, and investment strategies that lead to superior returns.