How much is Dean Witter worth?

How much is Dean Witter worth?

The company’s asset management arm, Dean Witter InterCapital, with total assets of $90.0 billion prior to the acquisition, was one of the largest asset management operations in the U.S….Dean Witter Reynolds.

Type Merged
Total assets $17.3 billion
Number of employees 33,084 (12/31/96)
Subsidiaries Discover Card (prior)

What happened to Dean Witter stock?

The Morgan Stanley Group, one of Wall Street’s elite investment firms, and Dean Witter, Discover & Company, which sells stocks and bonds to small investors, agreed to merge yesterday into the world’s biggest securities company in a transaction valued at $10.2 billion.

Did Dean Witter buy Morgan Stanley?

Brokerage and credit-card giant Dean Witter, Discover & Co. on Wednesday agreed to buy investment banker Morgan Stanley Group in a $10-billion deal that the partners hope will win them a bigger share of the huge pool of money that small investors are pouring into the stock market.

What happened to Smith Barney?

It’s official — Smith Barney is no more. Morgan Stanley announced today that it has renamed its U.S. wealth management business Morgan Stanley Wealth Management, dropping the Smith Barney name from the joint venture it co-owns with Citigroup Inc. The firm was formed by the merger of Charles D. Barney & Co.

Whats a stock broker do?

A stockbroker or broker buys and sells stocks at the direction of clients. Most buy and sell orders are now made through online discount brokers. Wealthy individuals and institutions continue to use full-service brokers, who offer advice and portfolio management services as well as completing transactions.

When did Morgan Stanley acquire Dean Witter?

In 2005, Morgan Stanley was facing a series of crises stemming from its 1997 merger with Dean Witter, Discover & Co.

Who are the founders of Morgan Stanley?

Henry Sturgis Morgan
Harold StanleyDean G. Witter
Morgan Stanley/Founders

What happened to Salomon Smith Barney?

Salomon Brothers, Inc. U.S. Although the Salomon name carried on as Salomon Smith Barney, which were the investment banking operations of Citigroup, the name was abandoned in October 2003 after a series of financial scandals that tarnished the bank’s reputation.