Video encyclopedia

05/02/1997 Morgan Stanley announces $10 billion merger with Dean Witter


Morgan Stanley Dean Witter Ad

Morgan Stanley Group and Dean Witter Discover merged to form one of the largest global financial services firms: Morgan Stanley Dean Witter. Purcell and CEO John Mack decided not to choose between the two brand names. Instead, they combined the names of the two firms and put the Morgan Stanley Dean Witter brand on almost all of its operations.
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    • Essentials 

    • Business overview 

    • Securities business 

    • Investment banking 

    • Credit cards (Discover Card and Novus) 

    • Dean Witter & Co. (1924-1978) 

    • Reynolds Securities (1931-1978) 

    • The Dean Witter Reynolds merger and the Sears acquisition (1978-1993) 

    • Dean Witter Discover (1993-1997) 

    • Merger with Morgan Stanley (1997-2009) 

    • Notable alumni