Category: Money tips Release Date: 2007-01-20
Editor's note: Morgan, Goldman Sachs, Citigroup, UBS ... ... the names of these prominent people are all too familiar. Let us one by one to read their history, appreciate their side of today's glorious behind.
It has a nickname: "blood, intelligence and money" companies; history, a long time, dared to ask anything if it's customers to another company, they will be saying: "look for other agencies bar!" It's not just the U.S. financial sector the glory, but also on behalf of the United States and even global financier financier's dream.
To get involved in China Industrial and Commercial Bank of China IPO (initial public fund-raising) underwriting opportunities, "carrying the world's elite investment bank's private aircraft and commercial flights have landed in Beijing." Among them, "investment bank industry is most concerned about is Morgan Stanley CEO John Mack (John Mack) in the next few days whether it will take a private jet arrived in Beijing."
Investment banking for Morgan Stanley's attention seems to have become over the years, "habit." And explore this "tradition" of the origin of Department, had to look back to Morgan Stanley's history.
In 1935, before JP Morgan consortium, may be the world's most formidable financial joint institutions. The consortium is a U.S. banker George Peabody (George Peabody) 1838 founded in London, after the Morgan family, inheritance, moved to New York a reputation. Most of Western financial historian Morgan consortium used to tell the history of the rise of the modern financial industry.
However, in 1933's "Gela Si - Steagall Act" collapse of this financial empire. The bill deposit and loan business in operating commercial banks and issuing shares, bonds, investment banks erected a wall between. In 1935, the consortium is divided into JP Morgan, Morgan (merchant banking) and Morgan Stanley (investment bank operations). JP Morgan consortium of 425 employees, about 400 to continue the work of JP Morgan, only 20 people out of the formation of Morgan Stanley.
Then "New York Times" said Morgan Stanley's opening ceremony "is not like the opening of the new company, but rather an old and established companies in any one week the beginning of another." The day before opening night, the company has prepared a table and storage guests complimentary fresh flowers, employees come to work the next day found that more than 200 kinds of flowers filled the entire office, and extend to the outside on the streets. Morgan Stanley's competitors and Wall Street colleagues in this way expressed their respect. The opening of the first week, the company was involved in the whirlpool of the busy business, as well as a large-scale public utility companies, door to discuss personal finance matters, Chairman, the main partner of one of the Stanley had to apologize to him: "Come back next week . "
This year, the U.S. capital market booms, bearing sales quadrupled. Morgan Stanley took over the whole year a total of 10 billion dollars in distribution operations, accounting for U.S. market for more than 24% of business volume. Morgan Stanley consortium with the old client resources, quickly established himself in the investment banking industry's dominance.
From 1935 to the mid-70s of last century, any two competitors combined customers also can not keep up Morgan Stanley. Its customer list includes the world's seven major oil companies in six, 10 large companies in the United States 7. Also in this period, Morgan Stanley's first advertising available, the picture is a lightning piercing the dark clouds, entitled "If God comes to financing, he would look for Morgan Stanley."
Today, Morgan Stanley, New York accounted for in the 16-story Exxon Building. Into the 90s last century, the United States once again to relax on commercial banks and investment banking business of isolation monitoring, Morgan Stanley investment bank from a purely financial group began to expand. An expansion is the most controversial and retail brokerage Dean Witter merger, changed its name to Morgan Stanley Dean Witter Co., Ltd.. Since then, Morgan has seen a decline in 2005 dropped to its lowest ebb. Stock price from hundreds of U.S. dollars all the way down to the more than 30 U.S. dollars. HSBC in 2005 and even tried to buy it!
After eight years of fighting, from Dean Witter's Purcell (Philip Purcell) use various means, constantly cleaning their disloyal, but he still lost. Morgan Stanley has been the effectiveness of 30-year-old former "chairman of successor" - John Mack returned to Morgan Stanley, victor, and the creation of last year's fiscal fourth-quarter earnings increased 49% per share earnings well above Wall Street expectations brilliant performance, company's share price also rose to 60 U.S. dollars.
In the Chinese market has always been a monopoly business of block of shares Morgan Stanley is also doing my part. From China Life, SMIC, China's Sinopec, Chalco, Sinotrans, China Oilfield Services to the most recent issue of overseas listing of China Construction Bank, without exception, with his presence. However, including fighting the process, Morgan's business in China have also been not a small impact - "China Telecom" (0728.HK) 2002 Nian 11 Yue listed on the first day of the offer price below its value over the years the business reputation considerable damage.
A corporate culture that, by becoming a market culture, it will become the backbone of this market. Morgan Stanley's history vividly illustrates this law.
