
Morgan
Stanley is one of the world's largest diversified financial services companies,
with a reputation for excellence in advice and execution on a global scale.
Our Firm enjoys leading franchises in three attractive businesses: Global
Securities, where Morgan Stanley serves individual and
institutional investors and investment banking clients; Global Asset Management,
with our highly rated Morgan Stanley and Van Kampen funds; and Global Credit
Card Services, with our Discover Card, held by 40% of U.S. households, as
well as a growing Morgan Stanley card business in the United Kingdom.
Long-term
trends are driving growth across these businesses, from advances in technology
and deregulation of global securities markets to increased demand for retirement
planning. The diversity of our businesses and the strength of our brands
make us less vulnerable to short-term market cycles while producing superior
returns on equity compared with our peers.
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