BEIJING, Oct. 15 (Xinhuanet) -- Morgan Stanley is a global financial services firm that, through its subsidiaries and affiliates, provides its products and services to customers, including corporations, governments, financial institutions and individuals.

    The Company operates in three business segments: Institutional Securities, Global Wealth Management Group, and Asset Management.

    The corporation, formed by J.P. Morgan & Co. employees Henry S. Morgan, Harold Stanley and others, came into existence on Sept. 16, 1935. In its first year the company operated with a 24 percent market share (1.1 billion U.S. dollars) in public offerings and private placements.

    The company found itself in the midst of a management crisis in the late 90s that saw it lose a lot of talent and competence and ultimately saw the firing of its then CEO Philip Purcell in 2005.

    In August 2008, Morgan Stanley was contracted by the United States Treasury to advise the government on potential rescue strategies for Fannie Mae and Freddie Mac .

    On Sept. 21, 2008, it was reported that the Federal Reserve allowed Morgan Stanley to change its status from investment bank to bank holding company.

    On Sept. 29, 2008, it was announced that Mitsubishi UFJ Financial Group , Japan's largest bank, will take a stake of 9 billion dollars in Morgan Stanley equity.

    In the midst of the October 2008 stock market crash, concerns over the completion of the Mitsubishi deal caused a dramatic fall in Morgan Stanley's stock price to levels last seen in 1994.

    （Agencies）