Morgan Stanley - AbsoluteAstronomy.com

Morgan Stanley is a global financial services

Financial services

Financial services refer to services provided by the finance industry. The finance industry encompasses a broad range of organizations that deal with the management of money. Among these organizations are credit unions, banks, credit card companies, insurance companies, consumer finance companies,...

firm headquartered in New York City serving a diversified group of corporations, governments, financial institutions, and individuals. Morgan Stanley also operates in 36 countries around the world, with over 600 offices and a workforce of over 60,000. The company reports US$779 billion as assets under its management. It is headquartered in the Morgan Stanley Building, in Midtown Manhattan

Midtown Manhattan

Midtown Manhattan, or simply Midtown, is an area of Manhattan, New York City home to world-famous commercial zones such as Rockefeller Center, Broadway, and Times Square...

, New York City.

The corporation, formed by J.P. Morgan & Co.

J.P. Morgan & Co.

J.P. Morgan & Co. was a commercial and investment banking institution based in the United States founded by J. Pierpont Morgan and commonly known as the House of Morgan or simply Morgan. Today, J.P...

employees Henry S. Morgan

Henry S. Morgan

-Biography:He was born on October 24, 1900 in London, England to John Pierpont Morgan, Jr. and Jane Norton Grew. His father was the son of J. P. Morgan; and his mother was the daughter of Boston banker and mill owner Henry Sturgis Grew. Morgan had two sons....

(grandson of J.P. Morgan), Harold Stanley

Harold Stanley

Harold Stanley was an American businessman and one of the founders of Morgan Stanley in 1935. He ran Morgan Stanley until 1955....

and others, came into existence on September 16, 1935. In its first year the company operated with a 24% market share (US$1.1 billion) in public offerings and private placements. The main areas of business for the firm today are Global Wealth Management

Private banking

Private banking is banking, investment and other financial services provided by banks to private individuals investing sizable assets. The term "private" refers to the customer service being rendered on a more personal basis than in mass-market retail banking, usually via dedicated bank advisers...

, Institutional Securities

Institutional investor

Institutional investors are organizations which pool large sums of money and invest those sums in securities, real property and other investment assets...

and Investment Management

Investment management

Investment management is the professional management of various securities and assets in order to meet specified investment goals for the benefit of the investors...

.

The company found itself in the midst of a management crisis in the late 1990s that resulted in a loss of a number of the firm's staff and ultimately saw the firing of its then CEO Philip Purcell in 2005.

Overview

Morgan Stanley is a global financial services

Financial services

firm that, through its subsidiaries and affiliates, provides its products and services to customers, including corporations, governments, financial institutions and individuals. The company operates in three business segments: Institutional Securities, Global Wealth Management Group, and Asset Management.

Early years: 1935–1950

Morgan Stanley can trace its roots in the history of J.P. Morgan & Co.

J.P. Morgan & Co.

Following the Glass–Steagall Act, it was no longer possible for a corporation to have investment banking and commercial banking businesses under a single holding entity. J.P. Morgan & Co. chose the commercial banking business over the investment banking business. As a result, some of the employees of J.P. Morgan & Co., most notably Henry S. Morgan

Henry S. Morgan

and Harold Stanley

Harold Stanley

Harold Stanley was an American businessman and one of the founders of Morgan Stanley in 1935. He ran Morgan Stanley until 1955....

, left J.P. Morgan & Co. and joined some others from the Drexel partners to form Morgan Stanley. The firm formally opened the doors for business on September 16, 1935, at Floor 19, 2 Wall Street

Wall Street

Wall Street refers to the financial district of New York City, named after and centered on the eight-block-long street running from Broadway to South Street on the East River in Lower Manhattan. Over time, the term has become a metonym for the financial markets of the United States as a whole, or...

, New York City. Within its first year, it achieved 24% market share (US$1.1 billion) among public offerings. The firm was involved with the distribution of 1938 US$100 million of debentures for the United States Steel Corporation as the lead underwriter. The firm also obtained the distinction of being the lead syndicate in the 1939 U.S. rail financing. The firm went through a major reorganization in 1941 to allow for more activity in its securities business. As J.P. Morgan rose to fame, he organized a contract to make sure that all of his future family receive a large annual sum of money, directly given to his family. Currently, Steven Parisee, a 4th generation relative, receives an annual 1.5 million dollars, regardless of the company's financial situation.

Middle years: 1950–1990

The firm was led by Perry Hall, the last founder to lead Morgan Stanley, from 1951–1961. During this period, the firm co-managed the famous World Bank's US$50 million triple-A-rated bonds offering of 1952. The firm, in this period, also came up with the General Motor's

General Motors

General Motors Company , commonly known as GM, formerly incorporated as General Motors Corporation, is an American multinational automotive corporation headquartered in Detroit, Michigan and the world's second-largest automaker in 2010...

US$300 million debt issue, US$231 million IBM

IBM

International Business Machines Corporation or IBM is an American multinational technology and consulting corporation headquartered in Armonk, New York, United States. IBM manufactures and sells computer hardware and software, and it offers infrastructure, hosting and consulting services in areas...

stock offering, the US$250 million AT&T's

AT&T

AT&T Inc. is an American multinational telecommunications corporation headquartered in Whitacre Tower, Dallas, Texas, United States. It is the largest provider of mobile telephony and fixed telephony in the United States, and is also a provider of broadband and subscription television services...

debt offering.

In 1962, Morgan Stanley credits itself with having created the first viable computer model for financial analysis, thereby starting a new trend in the field of financial analysis. In 1967 it established the Morgan & Cie, International in Paris in attempt to enter the European securities market. It acquired Brooks, Harvey & Co., Inc. in 1967 and established a presence in the real estate business. By 1971 the firm had established its Mergers & Acquisitions business along with Sales & Trading. The sales and trading business is believed to be the brainchild of Bob Baldwin. In 1970 Morgan Stanley opened a representative office in Tokyo and formally entered the Japanese markets. In 1975 Morgan Stanley established Morgan Stanley International Inc. in London. The private wealth management department was added into the firm's business units by 1977 when Morgan Stanley established Morgan Stanley Realty Inc. In the same year Morgan Stanley merged with Shuman, Agnew & Co. Morgan Stanley lead the Apple common stock IPO on December 12, 1980. The firm entered the Prime Brokerage business in 1984. In 1986, Morgan Stanley Group, Inc., was publicly listed on the New York Stock Exchange

New York Stock Exchange

The New York Stock Exchange is a stock exchange located at 11 Wall Street in Lower Manhattan, New York City, USA. It is by far the world's largest stock exchange by market capitalization of its listed companies at 13.39 trillion as of Dec 2010...

. By 1990 Morgan Stanley had its regional offices in Frankfurt

Frankfurt

Frankfurt am Main , commonly known simply as Frankfurt, is the largest city in the German state of Hesse and the fifth-largest city in Germany, with a 2010 population of 688,249. The urban area had an estimated population of 2,300,000 in 2010...

, Hong Kong, Luxembourg, Melbourne, Milan, Sydney and Zürich

Zürich

Zurich is the largest city in Switzerland and the capital of the canton of Zurich. It is located in central Switzerland at the northwestern tip of Lake Zurich...

and had regional headquarters in London and Tokyo.

Recent years: 1991–present

In 1996, Morgan Stanley acquired Van Kampen

Van Kampen

Van Kampen may refer to:* Seifert–van Kampen theorem, sometimes just called van Kampen's theorem, which describes an aspect of algebraic topology.*Egbert van Kampen, the mathematician who devised the theorem* Robert Van Kampen, an American businessman....

American Capital. On February 5, 1997, the company merged with Dean Witter Reynolds

Dean Witter Reynolds

Dean Witter Reynolds was an American stock brokerage and securities firm catering to retail clients. Prior to its acquisition, it was among the largest retail firms in the securities industry with over 9,000 account executives and was among the largest members of the New York Stock Exchange...

, and Discover & Co. the spun off financial services business of Sears Roebuck. The merged company was briefly known as "Morgan Stanley Dean Witter Discover & Co." until 1998 when it was known as "Morgan Stanley Dean Witter & Co.". In late 2001, the "Dean Witter" name was dropped and the firm became "Morgan Stanley".

Morgan Stanley had offices located on twenty-four floors, running from the 59th floor to the 74th floor, of buildings 2 and 5 of the World Trade Center

World Trade Center

The original World Trade Center was a complex with seven buildings featuring landmark twin towers in Lower Manhattan, New York City, United States. The complex opened on April 4, 1973, and was destroyed in 2001 during the September 11 attacks. The site is currently being rebuilt with five new...

in New York City. These offices had been inherited from Dean Witter which had occupied the space since the mid-1980s. During the events of September 11, both WTC towers collapsed after Al Qaeda hijacked two airplanes and flew them into the towers. Ten employees died; one on American Airlines Flight 11

American Airlines Flight 11

American Airlines Flight 11 was American Airlines' daily scheduled morning transcontinental flight from Logan International Airport, in Boston, Massachusetts, to Los Angeles International Airport, in Los Angeles, California...

, and nine others in the towers, including Security Director Rick Rescorla

Rick Rescorla

Cyril Richard "Rick" Rescorla was a retired United States Army officer of British birth who served with distinction in Northern Rhodesia as a member of the Northern Rhodesia Police and as a soldier in the Vietnam War as a Second Lieutenant in the United States Army...

. 2,687 were successfully evacuated. After the disaster, the surviving employees moved to temporary headquarters in the vicinity. In 2005, it moved 2,300 of its employees back to lower Manhattan

Lower Manhattan

Lower Manhattan is the southernmost part of the island of Manhattan, the main island and center of business and government of the City of New York...

, at that time the largest such move.

Morgan Stanley led the 2004 Google

Google

Google Inc. is an American multinational public corporation invested in Internet search, cloud computing, and advertising technologies. Google hosts and develops a number of Internet-based services and products, and generates profit primarily from advertising through its AdWords program...

IPO, the largest Internet IPO in U.S. history. In the same year Morgan Stanley acquired the Canary Wharf Group

Canary Wharf Group

Canary Wharf Group plc is the owner and developer of nearly of property at Canary Wharf in London. It is notable because over the last 10 years it has constructed more office space in London than any other developer...

. On December 19, 2006, after reporting 4th quarter earnings, Morgan Stanley announced the spin-off of its Discover Card

Discover Card

The Discover Card is a major credit card, issued primarily in the United States. It was originally introduced by Sears in 1985, and was part of Dean Witter, and then Morgan Stanley, until 2007, when Discover Financial Services became an independent company. Novus, a major processing center, used to...

unit. The bank completed the spinoff of Discover Financial on June 30, 2007.

In order to cope up with the write-downs during the subprime mortgage crisis

Subprime mortgage crisis

The U.S. subprime mortgage crisis was one of the first indicators of the late-2000s financial crisis, characterized by a rise in subprime mortgage delinquencies and foreclosures, and the resulting decline of securities backed by said mortgages....

, Morgan Stanley announced on December 19, 2007 that it would receive a US$5 billion capital infusion from the China Investment Corporation

China Investment Corporation

China Investment Corporation is a sovereign wealth fund responsible for managing part of the People's Republic of China's foreign exchange reserves. CIC was established in 2007 with approximately US$200 billion of assets under management, making it one of the largest sovereign wealth funds...

in exchange for securities that would be convertible to 9.9% of its shares in 2010.

The bank's Process Driven Trading unit was amongst several on Wall Street caught in a short squeeze, reportedly losing nearly $300 million in one day. One of the stocks involved in this squeeze, Beazer Homes USA

Beazer Homes USA

Beazer Homes USA is a Fortune 500 American homebuilding company based in Atlanta, Georgia. The company builds and sells primarily single-family homes in twenty states of the continental United States...

, was a component of the then-bulging real estate bubble

Real estate bubble

A real estate bubble or property bubble is a type of economic bubble that occurs periodically in local or global real estate markets...

. The bubble's subsequent collapse was considered to be a central feature of the financial crisis of 2007–2010.

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.

On September 17, 2008, the British evening-news analysis program Newsnight
Newsnight
Newsnight is a BBC Television current affairs programme noted for its in-depth analysis and often robust cross-examination of senior politicians. Jeremy Paxman has been its main presenter for over two decades....

reported that Morgan Stanley was facing difficulties after a 42% slide in its share price.
CEO John J. Mack

John J. Mack

John J. Mack is the current Chairman of the Board at Morgan Stanley, the New York-based investment bank and brokerage firm. Mack announced his retirement as Chief Executive Officer on September 10, 2009, which was effective January 1, 2010. Former Co-President James P...

wrote in a memo to staff "we're in the midst of a market controlled by fear and rumours and short-sellers are driving our stock down." The company was said to explore merger possibilities with CITIC

CITIC

Not to be confused with Citigroup, another large financial services company.Not to be confused with CIT Group, another large financial services company....

, Wachovia

Wachovia

Wachovia was a diversified financial services company based in Charlotte, North Carolina. Before its acquisition by Wells Fargo in 2008, Wachovia was the fourth-largest bank holding company in the United States based on total assets...

, HSBC

HSBC

HSBC Holdings plc is a global banking and financial services company headquartered in Canary Wharf, London, United Kingdom. it is the world's second-largest banking and financial services group and second-largest public company according to a composite measure by Forbes magazine...

, Banco Santander and Nomura

Nomura

Nomura Nomura Nomura (野村 (field village), 埜村 (wilderness field) is a Japanese surname. It can refer to:-Finance:*Nomura Holdings, part of the Nomura Group (also including Nomura Securities Co.)-People:*Don Nomura (born 1957), Japanese-American baseball agent...

. At one point, Hank Paulson offered Morgan Stanley to JPMorgan Chase at no cost, but Jamie Dimon

Jamie Dimon

James "Jamie" Dimon is a business executive. He is the current chairman, president and chief executive of JPMorgan Chase, and previously served as a Class A director of the Board of Directors of the New York Federal Reserve, a three year term which started January 2007...

refused the offer.

Morgan Stanley and Goldman Sachs

Goldman Sachs

The Goldman Sachs Group, Inc. is an American multinational bulge bracket investment banking and securities firm that engages in global investment banking, securities, investment management, and other financial services primarily with institutional clients...

, the last two major investment banks in the US, both announced on September 22, 2008 that they would become traditional bank holding companies regulated by the Federal Reserve. 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 Holdings Inc.

Lehman Brothers

Lehman Brothers Holdings Inc. was a global financial services firm. Before declaring bankruptcy in 2008, Lehman was the fourth largest investment bank in the USA , doing business in investment banking, equity and fixed-income sales and trading Lehman Brothers Holdings Inc. (former NYSE ticker...

into bankruptcy and led to the rushed sale of Merrill Lynch & Co.

Merrill Lynch

Merrill Lynch is the wealth management division of Bank of America. With over 15,000 financial advisors and $2.2 trillion in client assets it is the world's largest brokerage. Formerly known as Merrill Lynch & Co., Inc., prior to 2009 the firm was publicly owned and traded on the New York...

to Bank of America Corp.

Bank of America

Bank of America Corporation, an American multinational banking and financial services corporation, is the second largest bank holding company in the United States by assets, and the fourth largest bank in the U.S. by market capitalization. The bank is headquartered in Charlotte, North Carolina...

Mitsubishi UFJ Financial Group, Japan's largest bank, invested $9 billion in Morgan Stanley on September 29, 2008. 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.

Morgan Stanley borrowed $107.3 billion from the Fed during the 2008 crises, the most of any bank, according to data compiled by Bloomberg News Service and published 8/22/2011.

In 2009, Morgan Stanley purchased Smith Barney

Smith Barney

Morgan Stanley Smith Barney is a retail brokerage joint venture between Morgan Stanley and Citigroup.On January 13, 2009, Morgan Stanley and Citigroup announced that Citigroup would sell 51% of Smith Barney to Morgan Stanley, creating Morgan Stanley Smith Barney, which was formerly a division of...

from Citigroup

Citigroup

Citigroup Inc. or Citi is an American multinational financial services corporation headquartered in Manhattan, New York City, New York, United States. Citigroup was formed from one of the world's largest mergers in history by combining the banking giant Citicorp and financial conglomerate...

and the new company is operating under the name Morgan Stanley Smith Barney.

Organization

Morgan Stanley splits its businesses into three core business units. As listed below:

Institutional Securities

Institutional Securities has been the most profitable business segment for Morgan Stanley in recent times. This business segment provides institutions with services such as capital raising and financial advisory services including mergers and acquisitions

Mergers and acquisitions

Mergers and acquisitions refers to the aspect of corporate strategy, corporate finance and management dealing with the buying, selling, dividing and combining of different companies and similar entities that can help an enterprise grow rapidly in its sector or location of origin, or a new field or...

advisory, restructurings, real estate and project finance, and corporate lending. The segment also encompasses the Equities and the Fixed Income divisions of the firm; trading is anticipated to maintain its position as the "engine room" of the company.

Global Wealth Management Group

The Global Wealth Management Group provides brokerage and investment advisory services. As of 2008 Q1 this segment has reported an annual increase of 12 percent in the pre-tax income. This segment provides financial and wealth planning services to its clients who are primarily high net worth individuals.

Asset Management

Asset Management provides global asset management products and services in equity, fixed income, alternative investments and private equity to institutional and retail clients through third-party retail distribution channels, intermediaries and Morgan Stanley's institutional distribution channel. Morgan Stanley's asset management activities were principally conducted under the Morgan Stanley and Van Kampen brands until 2009. On October 19, 2009, Morgan Stanley announced that it would sell Van Kampen to Invesco for $1.5 billion, but would retain the Morgan Stanley brand. It provides asset management products and services to institutional investors worldwide, including pension plans, corporations, private funds, non-profit organizations, foundations, endowments, governmental agencies, insurance companies and banks.

Magazine and popularity rankings

Morgan Stanley was named one of the 100 Best Companies for Working Mothers in 2004 by Working Mothers magazine.
Family Digest magazine named Morgan Stanley one of the "Best Companies for African Americans" in June 2004
Essence
Essence (magazine)
Essence is a monthly magazine for African-American women between the ages of 18 and 49. The magazine covers fashion, lifestyle and beauty with an intimate girlfriend-to-girlfriend tone.-History:...

magazine named Morgan Stanley as one of the "30 Great Places to Work" in May 2004
Asian Enterprise magazine named Morgan Stanley as one of the "Top Companies for Asian Americans" in April 2004
Hispanic magazine selected Morgan Stanley as one of the "100 Companies Providing the Most Opportunities to Hispanics" in February 2004
Morgan Stanley is listed in The Times Top 100 Graduate Employers, only recently dropping out of the top 40
The Times
The Times
The Times is a British daily national newspaper, first published in London in 1785 under the title The Daily Universal Register . The Times and its sister paper The Sunday Times are published by Times Newspapers Limited, a subsidiary since 1981 of News International...

listed Morgan Stanley 5th in its 20 Best Big Companies to Work For 2006 list
Great Place to Work Institute Japan in 2007 ranked Morgan Stanley as the second best corporation to work in Japan, based on the opinions of the employees and the corporate culture

Controversies and lawsuits

In 2003, Morgan Stanley agreed to pay billions of dollars in order to settle its portion of various legal actions and investigations brought by Eliott Spitzer, the Attorney General of New York, the National Association of Securities Dealers (now the Financial Industry Regulatory Authority

Financial Industry Regulatory Authority

In the United States, the Financial Industry Regulatory Authority, Inc., or FINRA, is a private corporation that acts as a self-regulatory organization . FINRA is the successor to the National Association of Securities Dealers, Inc. ...

(FINRA)), the United States Securities and Exchange Commission, (SEC) and a number of state securities regulators, relating to fraud that was allegedly perpetrated upon retail investors by a dozen of the largest investment banking securities brokerage firms.

Morgan Stanley settled a sex discrimination suit brought by the Equal Employment Opportunity Commission

Equal Employment Opportunity Commission

The U.S. Equal Employment Opportunity Commission is an independent federal law enforcement agency that enforces laws against workplace discrimination. The EEOC investigates discrimination complaints based on an individual's race, color, national origin, religion, sex, age, perceived intelligence,...

for $54 million on July 12, 2004.

The New York Stock Exchange

New York Stock Exchange

imposed a $19 million fine on January 12, 2005 for alleged regulatory and supervisory lapses.

On May 16, 2005, a Florida jury found that Morgan Stanley failed to give adequate information to Ronald Perelman

Ronald Perelman

Ronald Owen Perelman is an American business magnate. Through his company MacAndrews & Forbes Holdings Inc., he has invested in various companies in grocery, cigar, licorice, makeup, car, photography, television, camping, security, lottery, jewelry, banks, and comic book industries.-Early...

about Sunbeam

Sunbeam Products

Sunbeam Products is an American brand that has produced electric home appliances since 1910. Their products have included the Mixmaster mixer, the Sunbeam CG waffle iron, Coffeemaster and the fully automatic T20 toaster. Sunbeam is owned by Jarden Consumer Solutions after Jarden's acquisition in...

thereby defrauding him and causing damages to him of $604 million. In addition, punitive damages were added for total damages

Damages

In law, damages is an award, typically of money, to be paid to a person as compensation for loss or injury; grammatically, it is a singular noun, not plural.- Compensatory damages :...

of $1.450 billion. This verdict was directed by the judge as a sanction against Morgan Stanley after the firm's attorneys infuriated the court by failing and refusing to produce documents, and falsely telling the court that certain documents did not exist. The ruling was overturned on March 21, 2007 and Morgan Stanley was no longer required to pay the $1.57 billion verdict.

Morgan Stanley settled a class action lawsuit on March 2, 2006. It had been filed in California by both current and former Morgan Stanley employees for unfair labor practices instituted to those in the financial advisor training program. Employees of the program had claimed the firm expected trainees to clock overtime hours without additional pay and handle various administrative expenses as a result of their expected duties. A $42.5 million settlement was reached and Morgan Stanley admitted no fault.

On September 25, 2009, Citigroup Inc. filed a federal lawsuit against Morgan Stanley, claiming its rival failed to pay $245 million due under a credit default swap agreement. The breach-of-contract lawsuit was filed in Manhattan federal court and seeks unspecified damages.

FINRA fine

The Financial Industry Regulatory Authority

Financial Industry Regulatory Authority

(FINRA) announced a $12.5 million settlement with Morgan Stanley on September 27, 2007. This resolved charges that the firm's former affiliate, Morgan Stanley DW, Inc. (MSDW), failed on numerous occasions to provide emails to claimants in arbitration proceedings as well as to regulators. The company had claimed that the destruction of the firm's email servers in the September 11, 2001 terrorist attacks on New York's World Trade Center resulted in the loss of all email before that date. In fact, the firm had millions of earlier emails that had been retrieved from backup copies stored in another location that was not destroyed in the attacks. Customers who had lost their arbitration cases against Morgan Stanley DW Inc. because of their inability to obtain these emails to demonstrate Morgan Stanley's misconduct received a token amount of money as a result of the settlement.

List of officers and directors

Operating Committee:

James P. Gorman: President and Chief Executive Officer
Frank Barron: Chief Legal Officer
Walid Chammah: Chairman and CEO, Morgan Stanley International
Kenneth M. deRegt: Global Head of Fixed Income Sales and Trading
Greg Fleming: President of Investment Management, President of Morgan Stanley Smith Barney
Ruth Porat: Chief Financial Officer and Executive Vice President
Jim Rosenthal: Chief Operating Officer
Colm Kelleher: Co-President, Institutional Securities
Paul J. Taubman: Co-President, Institutional Securities

Board of Directors:

John J. Mack
James P. Gorman
Roy J. Bostock
Erskine B. Bowles
Sir Howard J. Davies
James H. Hance, Jr.
Nobuyuki Hirano
C. Robert Kidder
Donald T. Nicolaisen
Hutham S. Olayan
O. Griffith Sexton
Dr. Laura D. Tyson

Global headquarters

Morgan Stanley World Headquarters located in New York, European headquarters are based in London and Asia Pacific Headquarters are based in Hong Kong

Notable alumni

Daniel Ammann
Daniel Ammann
Daniel Ammann is a Swiss investigative journalist and author.He was educated at University of Zurich, UC Berkeley and Fondation Post Universitaire Internationale in Paris...

, General Motors, Chief Financial Officer
Barton Biggs
Barton Biggs
Barton M. Biggs is a money manager running Traxis Partners, a multi-billion dollar hedge fund based in New York City. He formerly held the title of "chief global strategist" for Morgan Stanley and was with that firm for 30 years....

, Author and Hedge Fund Manager
Erskine Bowles
Erskine Bowles
Erskine Boyce Bowles is an American businessman and political figure from North Carolina. He served from 2005 to 2010 as the President of the University of North Carolina system...

, Clinton White House Chief of Staff
Bob Diamond
Bob Diamond
Bob Diamond may refer to:*Bob Diamond , a Marvel Comics character*Bobby Diamond California civil and criminal law attorney who was a child star and young-adult actor of the 1950s and '60s...

, Chief Executive Officer, Barclays
Richard A. Debs, Chairman of Carnegie Hall; Middle East power-broker
Thomas J. DeLong, Stomberg Professor of Management, Harvard University
Amy Falls, Chief Investment Officer, Rockefeller University
Amelia Fawcett, D.B.E. chairman, Guardian Media Group PLC
Richard B. Fisher, Chairman of the Board, Rockefeller University; member, Trilateral Commission
S. Parker Gilbert, Jr., Chairman of the Morgan Library; philanthropist
Steve Girsky, Vice Chairman of General Motors
Eric Gleacher
Eric Gleacher
Eric Gleacher , an American investor and financier, is the founder and chairman of Gleacher & Co. an independent investment banking firm based in New York City....

, founder of Gleacher & Co.
Robert F. Greenhill, founder of Greenhill & Co.
Peter Karches, Chairman of the New York Racing Authority
Mary Meeker
Mary Meeker
Mary Meeker is an American venture capitalist and former Wall Street securities analyst primarily associated with the Internet. She is a partner at Silicon Valley venture capital firm Kleiner Perkins Caufield & Byers....

, Author and Venture Capitalist
Thomas Nides, Deputy Secretary, U.S. Department of State
Stephen A. Oxman
Stephen A. Oxman
Stephen Alan Oxman was United States Assistant Secretary of State for European and Canadian Affairs from 1993 to 1994.-Biography:...

, Assistant Secretary of State; Chair, Princeton University Board of Trustees
Vikram Pandit
Vikram Pandit
Vikram S. Pandit is an Indian-born American business executive. He is the current CEO of Citigroup.-Early life:Vikram Pandit was born in Nagpur, India to an affluent Marathi family . His father, S B Pandit was an executive director at Sarabhai Chemicals in Baroda. He completed his schooling at the...

, Chief Executive Officer, Citigroup
Joseph R. Perella
Joseph R. Perella
-Early life:Born in Brooklyn, New York to an accountant, Perella graduated from Lehigh University in 1964 on a full scholarship with a degree in accounting...

, philanthropist; founder of Perella Weinberg Partners
Charles E. Phillips, former President of Oracle, Inc.; C.E.O. of Infor
Frank Quattrone
Frank Quattrone
Frank Quattrone is an American technology-focused investment banker who started technology sector franchises at Morgan Stanley, Deutsche Bank, and Credit Suisse First Boston. He helped bring dozens of technology companies public during the 1990s tech boom, including Netscape, Cisco, and Amazon.com...

, founder, Qatalyst Group
Steven Rattner
Steven Rattner
Steven Lawrence Rattner is an American financier who served as the lead auto advisor in the United States Treasury Department under President Barack Obama...

, Private Equity Manager and Commentator
Ben Rosen, Technology Investor; founder, Compaq
David E. Shaw, Hedge Fund Manager
Kevin Warsh
Kevin Warsh
Kevin Maxwell Warsh was a member of the Board of Governors of the Federal Reserve System. He took office on February 24, 2006 to fill an unexpired term ending January 31, 2018 and resigned his position effective March 31, 2011. He is the youngest appointee in Federal Reserve history...

, G.W. Bush deputy economic advisor; Member, Federal Reserve Board of Governors
Byron Wien, Chief Strategist, Blackstone Group