Editing Morgan Stanley (section)

=== After the merger  (1997–present) ===
[[File:MS Standard Logo 2022 Black.jpg|thumb|200x200px|Current Morgan Stanley Logo 2022]]
[[File:Morgan Stanley Historical Logo.png|200px|thumb|right|Historical logo used by Morgan Stanley in the early 2000s]]

On February 5, 1997, the company merged with [[Dean Witter Reynolds|Dean Witter Discover & Co.]], the spun-off financial services business of [[Sears Roebuck]].<ref>{{Cite news|last=Truell|first=Peter|url=https://www.nytimes.com/1997/02/06/business/morgan-stanley-and-dean-witter-agree-to-merge.html|title=Morgan Stanley and Dean Witter Agree to Merge|date=February 6, 1997|work=The New York Times|access-date=April 27, 2020|language=en-US|issn=0362-4331}}</ref> Dean Witter's chairman and CEO, [[Philip J. Purcell]], continued to hold the same roles in the newly merged "Morgan Stanley Dean Witter Discover & Co." Morgan Stanley's president John J. Mack became the firm's president and chief operating officer.<ref>{{Cite web|url=https://www.latimes.com/archives/la-xpm-1997-02-06-mn-26059-story.html|title=Dean Witter to Buy Morgan Stanley in $10-Billion Deal|date=February 6, 1997|website=Los Angeles Times|language=en-US|access-date=April 27, 2020}}</ref> In 1998, the name of the firm was changed to "Morgan Stanley Dean Witter & Co."<ref>{{Cite news|first=Cheryl|last=Winokur Munk|via=Dow Jones Newswires|url=https://www.wsj.com/articles/SB980796460749083172|title=Morgan Stanley to Eliminate Dean Witter From Its Name|date=January 30, 2001|work=[[The Wall Street Journal]]|access-date=April 27, 2020|language=en-US|issn=0099-9660}}</ref> Originally, the name was chosen to be the combination of the two predecessor companies to avoid tension between the two firms.<ref name=":1" /> Eventually, in 2001 "Dean Witter" was further dropped and the name became "Morgan Stanley" for unrevealed reasons.<ref name=":1" /><ref name=":2" />  The merged firm began expanding overseas operations: in 1999, Mack set up a [[joint venture]] in India with local partner [[JM Financial]].<ref>{{Cite web|last1=John|first1=Satish|last2=Nambisan|first2=Raj|date=February 22, 2007|title=U-turn: Finally, Nimesh Kampani sells out to Morgan Stanley|url=https://www.dnaindia.com/business/report-u-turn-finally-nimesh-kampani-sells-out-to-morgan-stanley-1081566|access-date=August 7, 2021|website=DNA India|language=en}}</ref>

Morgan Stanley had offices located on 35 floors across buildings 1, 2, and 5 of the [[World Trade Center (1973–2001)|World Trade Center]], and was the largest tenant of the WTC complex. Most of these offices had been inherited from Dean Witter which had occupied the space since the mid-1980s.{{Citation needed|date=April 2020}} The firm lost 13 employees during the [[September 11 attacks]] in 2001<ref>{{Cite web|url=https://www.fema.gov/media-library-data/1387572158481-3561e0b74b8da0f6deb4424c9a29bbf6/business_morganstanley.pdf|title=Morgan Stanley Case Study|website=FEMA|access-date=April 27, 2020}}</ref> (Thomas F. Swift, Wesley Mercer, Jennifer de Jesus, Joseph DiPilato, Nolbert Salomon, Godwin Forde, Steve R. Strauss, Lindsay C. Herkness, Albert Joseph, Jorge Velazquez, Titus Davidson, Charles Laurencin and Security Director [[Rick Rescorla]]) in the towers, while 2,687 were successfully evacuated by Rick Rescorla.<ref>{{Cite magazine|url=https://www.newyorker.com/magazine/2002/02/11/the-real-heroes-are-dead|title=The Real Heroes Are Dead|last=Stewart|first=James B.|magazine=The New Yorker|date=February 4, 2002|language=en|access-date=April 27, 2020}}</ref><ref>{{Cite news|url=https://www.bbc.com/news/uk-england-cornwall-47866351|title=Train named after Cornish 9/11 hero|date=April 13, 2019|work=BBC News|access-date=April 27, 2020|language=en-GB}}</ref> The surviving employees moved to temporary headquarters in the vicinity. In 2005 Morgan Stanley moved 2,300 of its employees back to [[lower Manhattan]], at that time the largest such move.<ref>{{cite web |url=http://www.lowermanhattan.info/news/morgan_stanley_to_move_52052.aspx |title=Surviving 9/11 gave former NHLer Rob Cimetta a new outlook on life |access-date=September 11, 2009 |url-status=dead |archive-url=https://web.archive.org/web/20091028030602/http://www.lowermanhattan.info/news/morgan_stanley_to_move_52052.aspx |archive-date=October 28, 2009 }}</ref>

[[file:Columbia University Medical Center Morgan Stanley Children's Hospital.jpg|left|thumb|Morgan Stanley Children's Hospital of New York-Presbyterian is the only stand-alone pediatric hospital in New York City and is part of New York-Presbyterian Hospital.]]
In 2003, [[New York–Presbyterian Hospital]] named the [[Morgan Stanley Children's Hospital]] in recognition of the firm's sponsorship of the hospital, which largely funded its construction through philanthropy.<ref>{{cite web|url=http://www.morganstanley.com/about/community/charitable_annual2005.pdf|title=Morgan Stanley 2005 Charitable Annual Report|access-date=May 5, 2007 |archive-url = https://web.archive.org/web/20070309154119/http://www.morganstanley.com/about/community/charitable_annual2005.pdf <!-- Bot retrieved archive --> |archive-date = March 9, 2007}}</ref> The initiative began under CEO [[Philip J. Purcell]] and was completed under [[John J. Mack|John Mack]]. Employees at the firm have been involved with the hospital since the 1990s and personally donated to the construction of the current child-friendly building, which opened in November 2003.<ref>{{cite news|title=At Children's Hospitals, Friendly Designs|url=https://www.nytimes.com/2002/11/17/realestate/at-children-s-hospitals-friendly-designs.html?pagewanted=all|work=[[The New York Times]]|date=November 17, 2002}}</ref><ref>{{Cite web|url=https://columbiasurgery.org/general-surgery-residency/childrens-hospital-new-york-chony|title=NewYork-Presbyterian Morgan Stanley Children's Hospital {{!}} Columbia University Department of Surgery|website=columbiasurgery.org|access-date=April 27, 2020}}</ref>

The company found itself in the midst of a management crisis starting in March 2005<ref>{{cite news|url=https://www.forbes.com/2005/06/13/morgan-stanley-purcell-quit-cx_lm_0613quit.html?boxes=custom|title=Lame Duck Purcell|access-date=March 22, 2008|work=Forbes Website|date=June 13, 2005|first=Liz|last=Moyer}}</ref> that resulted in a loss of the firm's staff.<ref>{{cite news |url=https://www.nytimes.com/2005/04/21/business/21wall.html|title=Morgan Stanley Exodus Continues as 8 Traders Leave |access-date=March 22, 2008 |work=The New York Times | first=Landon Jr.| last=Thomas | date=April 21, 2005}}</ref> Purcell resigned as CEO of Morgan Stanley in June 2005 when a highly public campaign by former Morgan Stanley partners<ref name="PJP-B-05">[https://www.nytimes.com/2005/06/14/business/14morgan.html Chief Will Leave Morgan Stanley, Ending Struggle]. ''The New York Times'', June 14, 2005</ref><ref name="PJP-B-08">{{cite web |url=http://nymag.com/news/business/46476/index4.html |title=Only the Men Survive |work=New York Magazine|date=April 25, 2008 }}</ref> threatened to damage the firm and challenged his refusal to aggressively increase leverage, increase risk, enter the sub-prime mortgage business and make expensive acquisitions; the same strategies that forced Morgan Stanley into massive write-downs, related to the [[subprime mortgage crisis]], by 2007.<ref name="PJP-B-03">[https://www.nytimes.com/2005/07/08/business/08morgan.html The Reward for Leaving: $113 Million]. ''The New York Times'', July 8, 2005</ref>

On December 19, 2006, Morgan Stanley announced the spin-off of its [[Discover Card]] unit.<ref>{{Cite web|date=December 19, 2006|title=Morgan Stanley to Spin Off Discover Unit|url=https://www.bloomberg.com/news/articles/2006-12-19/morgan-stanley-to-spin-off-discover-unitbusinessweek-business-news-stock-market-and-financial-advice?sref=eMecddu3|access-date=April 27, 2020|website=Bloomberg.com}}</ref> The bank completed the spinoff of Discover Financial on June 30, 2007.<ref>[https://www.morganstanley.com/about-us-ir/pdf/71245Morgan%20Stanley_TaxBasisAllocationStmt_Final.pdf Distribution of Discover Financial Services Common Stock Morgan Stanley Stockholder Tax Basis Information &ndash; Morgan Stanley.] Retrieved January 27, 2021</ref><ref>{{Cite news |last=Giannone |first=Joseph |date=2007-08-09 |title=Morgan Stanley sets Discover spin-off for June 30 |url=https://www.reuters.com/article/idUSN01324026/ |access-date=2024-05-27 |work=[[Reuters]]}}</ref>

In February 2007, Morgan Stanley announced the end of its Indian joint venture: the bank acquired its local partner's stake in the institutional brokerage business, and sold its own stake in the other businesses.<ref>{{Cite web|date=February 23, 2007|title=Morgan Stanley, Kampani end JV|url=https://timesofindia.indiatimes.com/business/india-business/morgan-stanley-kampani-end-jv/articleshow/1662473.cms|access-date=August 7, 2021|website=The Times of India|language=en}}</ref><ref>{{Cite news|date=February 23, 2007|title=Morgan parts ways with JM Financial|work=The Economic Times|url=https://economictimes.indiatimes.com/industry/banking/finance/morgan-parts-ways-with-jm-financial/articleshow/1662562.cms|access-date=August 7, 2021}}</ref>  The bank then set up a wholly-owned subsidiary; the country head of Investment Management, Narayan Ramachandran, became CEO of the new subsidiary.  [[Aisha de Sequeira]], a managing director in the Mergers and Acquisitions group, was made Head of Investment Banking.<ref>{{Cite web|date=October 10, 2007|title=Morgan Stanley In India Receives Merchant Banking License and Announces Two Senior Appointments|url=https://www.morganstanley.com/press-releases/morgan-stanley-in-india-receives-merchant-banking-license-and-announces-two-senior-appointments_5623|access-date=August 1, 2021|website=Morgan Stanley|language=en}}</ref>

To cope with the write-downs during the subprime mortgage crisis, Morgan Stanley announced on December 19, 2007, that it would receive a US$5&nbsp;billion capital infusion from the [[China Investment Corporation]] in exchange for securities that would be convertible to 9.9% of its shares in 2010.<ref>{{cite web |url=http://biz.yahoo.com/ap/071219/earns_morgan_stanley.html |title=Morgan Stanley posts loss on writedown|access-date=December 19, 2007 |work=Joe Bel Bruno |archive-url = https://web.archive.org/web/20071221002410/http://biz.yahoo.com/ap/071219/earns_morgan_stanley.html <!-- Bot retrieved archive --> |archive-date = December 21, 2007}}</ref><ref>{{Cite news|last1=Merced|first1=Michael J. de la|url=https://www.nytimes.com/2007/12/19/business/19cnd-morgan.html|title=Morgan Stanley to Sell Stake to China Amid Loss|date=December 19, 2007|work=The New York Times|access-date=April 27, 2020|last2=Bradsher|first2=Keith|language=en-US|issn=0362-4331}}</ref>

The bank's Process Driven Trading unit was among several on Wall Street caught in a [[short squeeze]], reportedly losing nearly $300&nbsp;million in one day. The bubble's subsequent collapse was considered to be a central component of the [[2008 financial crisis]].<ref>Patterson, Scott D., ''The [[quantitative analyst|Quants]]: How a New Breed of Math Whizzes Conquered [[Wall Street]] and Nearly Destroyed It'', Crown Business, 352 pages, 2010. {{ISBN|0-307-45337-5}} {{ISBN|978-0307453372}} [https://www.amazon.com/Quants-Whizzes-Conquered-Street-Destroyed/dp/0307453375 Amazon page for book.] Specifically in [https://www.wsj.com/articles/SB10001424052748704509704575019032416477138 an excerpt] from "Chapter 10: The August Factor", in the January 23, 2010 ''Wall Street Journal''.</ref>

The bank was contracted by the [[United States Treasury]] in August 2008 to advise the government on potential rescue strategies for [[Fannie Mae]] and [[Freddie Mac]].<ref>{{cite news |url=https://www.nytimes.com/2008/08/06/business/06morgan.html?ref=business |title=Morgan Stanley to Advise U.S. on Fannie and Freddie |access-date=August 11, 2008 |work=The New York Times |date=August 6, 2008}}</ref> Within days, Morgan Stanley itself was at risk of failure, with rapidly changing prospects, regulatory model and ownership stakes over the course of four weeks from mid-September to mid-October 2008.<ref>{{Cite news |date=2013-09-11 |title=Banks seen at risk five years after Lehman collapse |url=https://economictimes.indiatimes.com/news/international/banks-seen-at-risk-five-years-after-lehman-collapse/articleshow/22473699.cms?from=mdr |access-date=2024-04-23 |work=The Economic Times |issn=0013-0389}}</ref>

The bank Morgan Stanley was reported to have lost over 80% of its market value during the [[2008 financial crisis]].<ref>{{cite web |url=http://www.marketwatch.com/story/morgan-stanleys-future-is-bright-for-investors-2013-10-08 |title=Morgan Stanley's future is bright for investors |author=Kudla, David |work=MarketWatch}}</ref> On September 17, 2008, the British evening-news analysis program ''[[Newsnight]]'' reported that Morgan Stanley was facing difficulties after a 42% slide in its share price in two days. CEO [[John J. Mack]] wrote in a memo to staff "we're in the midst of a market controlled by fear and rumours and [[short (finance)|short-sellers]] are driving our stock down." By September 19, 2008, the share price had slid 57% in four days, and the company was said to have explored merger possibilities with [[CITIC]], [[Wachovia]], [[HSBC]], [[Standard Chartered]], [[Banco Santander]] and [[Nomura Securities|Nomura]].<ref>{{cite news |url=https://www.thetimes.com/business-money/companies/article/morgan-stanley-perplexes-wall-street-as-bank-loses-dollar20bn-hfnnkhnn2z2 |title=Morgan Stanley perplexes Wall Street as bank loses $20bn |first=Suzy |last=Jagger |work=[[The Times]] |date=September 19, 2008 |access-date=December 24, 2018}}</ref> At one point, [[Hank Paulson]] offered Morgan Stanley to [[JPMorgan Chase]] at no cost, but JPMorgan's [[Jamie Dimon]] refused the offer.<ref>Duff McDonald, Last Man Standing (2009)</ref>

Morgan Stanley and [[Goldman Sachs]], the last two major investment banks in the US, both announced on September 22, 2008, that they would become traditional [[Bank holding company|bank holding companies]] regulated by the [[Federal Reserve]].<ref>[https://www.theguardian.com/business/2008/sep/22/wallstreet.morganstanley Wall Street in crisis: Last banks standing give up investment bank status], ''[[The Guardian]]'' (London), September 22, 2008</ref> The Federal Reserve's approval of their bid to become banks ended the ascendancy of securities firms, 75 years after Congress separated them from deposit-taking lenders, and capped weeks of chaos that sent [[Lehman Brothers|Lehman Brothers Holdings Inc.]] into bankruptcy and led to the rushed sale of [[Merrill Lynch|Merrill Lynch & Co.]] to [[Bank of America|Bank of America Corp.]]<ref>[https://www.bloomberg.com/apps/news?pid=20601068&sid=aSfyFs2LTxYs&refer=home Goldman, Morgan Stanley Bring Down Curtain on an Era], ''[[Bloomberg L.P.|Bloomberg]]'', September 22, 2008</ref>

[[MUFG Bank]], Japan's largest bank, invested $9&nbsp;billion in a direct purchase of a 21% ownership stake in Morgan Stanley on September 29, 2008.<ref>{{cite web |url=https://www.morganstanley.com/about/press/articles/6962.html |title=Mitsubishi UFJ Financial Group to Invest $9&nbsp;billion in Morgan Stanley |date=September 29, 2008 |access-date=October 2, 2008 |url-status=dead |archive-url=https://web.archive.org/web/20081002023606/http://www.morganstanley.com/about/press/articles/6962.html |archive-date=October 2, 2008 }}</ref> The payment from MUFG was supposed to be wired electronically; however, because it needed to be made on an emergency basis on [[Columbus Day#United States observance|Columbus Day]] when banks were closed in the US, MUFG cut a US$9&nbsp;billion physical check, the largest amount written via physical check at the time.<ref>{{cite book|title=[[Too Big to Fail (book)|Too Big to Fail]]|author=Andrew Ross Sorkin|pages=517–18|publisher=Viking|date=2009}}</ref><ref>{{cite news |title=Behold: The $9 Billion Check That Rescued Morgan Stanley |url=https://www.businessinsider.com/the-9-billion-check-to-rescued-morgan-stanley-2009-11 |access-date=October 14, 2020 |work=Business Insider |date=November 20, 2009 |archive-url=https://web.archive.org/web/20200831120838/https://www.businessinsider.com/the-9-billion-check-to-rescued-morgan-stanley-2009-11 |archive-date=August 31, 2020}}</ref> The physical check was accepted by [[Robert A. Kindler]], Global Head of Mergers and Acquisitions and Vice Chairman of Morgan Stanley, at the offices of [[Wachtell, Lipton, Rosen & Katz|Wachtell Lipton]].<ref>{{cite web |author1=Morgan Stanley |title=Episode 04: Surviving the Crisis |url=https://www.youtube.com/watch?v=iPsiYIT79ig?t=863 | archive-url=https://ghostarchive.org/varchive/youtube/20211030/iPsiYIT79ig| archive-date=October 30, 2021|publisher=YouTube |access-date=October 14, 2020 |location=Timestamp 14:23 |date=September 16, 2020}}{{cbignore}}</ref> Concerns over the completion of the Mitsubishi deal during the October 2008 stock market volatility caused a dramatic fall in Morgan Stanley's stock price to levels last seen in 1994. It recovered once Mitsubishi UFJ's 21% stake in Morgan Stanley was completed on October 14, 2008.<ref name=MS-TMSF-01>{{cite news |url=https://www.reuters.com/article/us-financial-fed-morgan-idUSTRE49584320081007 |title=Fed give OK to Mitsubishi, Morgan Stanley deal |work= Reuters|date= October 6, 2008 | access-date=April 14, 2012}}</ref><ref name=MS-TMSF-02>{{cite news |url=https://www.usatoday.com/money/industries/banking/2008-10-13-morgan-mitsubishi_N.htm |title=Mitsubishi UFJ buys 21% stake in Morgan Stanley |work= USA Today |date= October 13, 2008 | access-date=April 14, 2012}}</ref><ref name=MS-TMSF-03>{{cite news |url=https://www.theguardian.com/business/2008/oct/11/morganstanley-banking |title=Morgan Stanley hangs on Mitsubishi's $9bn pledge |work= The Guardian |date= October 11, 2008 | access-date=April 14, 2012 |first1=Andrew |last1=Clark |first2=Simon |last2=Bowers |location=London}}</ref><ref name=MS-TMSF-04>{{cite news |url=https://www.bloomberg.com/news/2012-03-30/mitsubishi-ufj-considers-multibillion-dollar-u-s-bank-buyout.html|title=Mitsubishi UFJ Mulls Multi-Billion Dollar U.S. Bank Acquisition |work=Bloomberg |date= April 2, 2012 | access-date=April 14, 2012 |first1=Shigeru |last1=Sato |first2=Takako |last2=Taniguchi}}</ref>

Morgan Stanley borrowed $107.3&nbsp;billion from the Fed during the 2008 crisis, the most of any bank, according to data compiled by Bloomberg News Service and published August 22, 2011.<ref>{{cite news |title=Morgan Stanley Speculating to Brink of Collapse Got $107 Billion From Fed |url=https://www.bloomberg.com/news/2011-08-22/morgan-stanley-at-brink-of-collapse-got-107b-from-fed.html |work=Bloomberg |date=August 22, 2011 |access-date=December 23, 2014}}</ref>

In 2009, Morgan Stanley purchased [[Smith Barney]] from [[Citigroup]] and the new broker-dealer operates under the name [[Morgan Stanley Smith Barney]], the largest wealth management business in the world.

In November 2013, Morgan Stanley announced that it would invest $1&nbsp;billion (~${{Format price|{{Inflation|index=US-GDP|value=1000000000|start_year=2013}}}} in {{Inflation/year|US-GDP}}) to help improve affordable housing as part of a wider push to encourage investment in efforts that aid economic, social and environmental sustainability.<ref>{{cite news| url=https://www.bloomberg.com/news/2013-11-01/morgan-stanley-pledges-1-billion-to-boost-sustainability.html | work=Bloomberg | title=Morgan Stanley Pledges Billion to Boost Sustainability}}</ref>

In July 2014, Morgan Stanley's Asian private equity arm announced it had raised around $1.7&nbsp;billion (~${{Format price|{{Inflation|index=US-GDP|value=1700000000|start_year=2014}}}} in {{Inflation/year|US-GDP}}) for its fourth fund in the area.<ref name="The Wall Street Journal">{{cite news |last=Cheung |first=Sonja |title=Morgan Stanley Asia Private-Equity Fund Raises $1.7 Billion |url=http://online.wsj.com/articles/morgan-stanley-asia-private-equity-fund-raises-1-7-billion-1404726430 |work=The Wall Street Journal |date=July 7, 2014 |access-date=July 11, 2014}}</ref>

In December 2015, it was reported that Morgan Stanley would be cutting around 25 percent of its fixed income jobs before month end.<ref>{{cite web|title=Morgan Stanley to cut 25% of fixed-income jobs in next 2 weeks|url=http://gulfnews.com/business/sectors/banking/morgan-stanley-to-cut-25-of-fixed-income-jobs-in-next-2-weeks-1.1630044|website=Gulf News|access-date=December 1, 2015}}</ref> In January 2016, the company reported that it had offices in "more than" 43 countries.<ref>{{cite web|title=Morgan Stanley 4Q2015 Earnings Release|url=http://www.morganstanley.com/about-us-ir/shareholder/4q2015.pdf}}</ref>

In October 2020, the company completed its acquisition of [[E-Trade|E*Trade]], a deal announced in February 2020 for $13&nbsp;billion, the biggest acquisition by a U.S. bank since the [[2008 financial crisis]].<ref name=":5">{{cite news |last1=Merced |first1=Michael J. de la |last2=Kelly |first2=Kate |last3=Flitter |first3=Emily |title=Morgan Stanley to Buy E-Trade, Linking Wall Street and Main Street |url=https://www.nytimes.com/2020/02/20/business/morgan-stanley-etrade.html |access-date=October 8, 2020 |work=The New York Times |date=June 16, 2020}}</ref>

In March 2021, Morgan Stanley completed its acquisition of [[Eaton Vance]], a deal announced in October 2020. With the addition of Eaton Vance, Morgan Stanley now had $5.4&nbsp;trillion of client assets across its Wealth Management and Investment Management segments.<ref name=":7">{{cite press release |url=https://www.morganstanley.com/press-releases/morgan-stanley-closes-acquisition-of-eaton-vance |title=Morgan Stanley Closes Acquisition of Eaton Vance |publisher=Morgan Stanley |date=March 1, 2021 |access-date=August 20, 2021 }}</ref>

The firm conducted layoffs in December 2022,<ref>{{cite news |last1=Hirsch |first1=Lauren |title=Morgan Stanley Cuts 2% of Global Work Force as Deal-Making Slows |url=https://www.nytimes.com/2022/12/06/business/morgan-stanley-layoffs.html |access-date=May 1, 2023 |work=The New York Times |date=December 6, 2022}}</ref><ref>{{cite news |last1=Natarajan |first1=Sridhar |last2=Doherty |first2=Katherine |title=Morgan Stanley Plans 3,000 More Job Cuts as Dealmaking Slumps |url=https://www.bloomberg.com/news/articles/2023-05-01/morgan-stanley-plans-3-000-more-job-cuts-amid-dealmaking-slump?sref=CIpmV6x8 |access-date=May 1, 2023 |work=Bloomberg.com |date=May 1, 2023 |language=en}}</ref> and Bloomberg announced the firm expected more layoffs in mid-2023.<ref>{{cite news |last1=Natarajan |first1=Sridhar |title=Morgan Stanley Plans 3,000 More Job Cuts as Dealmaking Slumps |url=https://www.bloomberg.com/news/articles/2023-05-01/morgan-stanley-plans-3-000-more-job-cuts-amid-dealmaking-slump?sref=CIpmV6x8 |access-date=May 1, 2023 |work=Bloomberg.com |date=May 1, 2023 |language=en}}</ref>

On May 2, 2023, an individual familiar with the matter reported that Morgan Stanley has outlined its intention to reduce approximately 3,000 positions by the end of June. The projected reduction constitutes roughly 5 percent of the bank's overall workforce, with financial advisors and support staff exempted from these staff cuts.<ref>{{cite web |last1=Son |first1=Hugh |date=May 2, 2023 |title=Wall Street layoffs: Morgan Stanley |url=https://www.cnbc.com/2023/05/02/wall-street-layoffs-morgan-stanley.html |publisher=[[CNBC]] |access-date=May 2, 2023}}</ref>

In October 2024, Morgan Stanley entered into a 40,000-tonne [[carbon dioxide removal]] purchase agreement with [[Climeworks]], a [[direct air capture]] startup company, for an undisclosed price.<ref>{{cite news|last=Brown|first=H. Claire|date=October 24, 2024|title=Climeworks Strikes 40,000-Ton Carbon Removal Deal With Morgan Stanley|work=The Wall Street Journal|publisher=News Corp|url=https://www.wsj.com/articles/climeworks-strikes-40-000-ton-carbon-removal-deal-with-morgan-stanley-952caa14|access-date=October 24, 2024}}</ref>

In January 2025, Morgan Stanley announced that it had decided to leave the Net- Zero Banking Alliance. Although this decision was made, Morgan Stanley remains vigilant in its commitment towards helping the world transition to net-zero carbon emissions.<ref>{{Cite news |date=January 3, 2025 |title=Morgan Stanley to leave sector climate coalition |url=https://www.reuters.com/business/finance/morgan-stanley-leave-sector-climate-coalition-2025-01-02/}}</ref>