Before we get into who owns Morgan Stanley (MS -2.32%), let's start with a little background information.
Morgan Stanley is one of the largest financial institutions in the United States. It is best known for its massive investment banking business. It advises on mergers and acquisitions (M&A), initial public offerings (IPOs), and underwrites debt and equity offerings. It facilitates trades for clients and its own capital accounts. It has the largest wealth management business in the world.
However, Morgan Stanley isn't just an investment bank. Along with fellow investment banking giant Goldman Sachs (GS -1.91%), it became a bank holding company during the 2008 financial crisis.
In addition to its investment banking activities, Morgan Stanley has a large consumer-facing business thanks to its 2020 acquisition of investment platform E*TRADE from Morgan Stanley.
Who is the owner?
Who is the owner of Morgan Stanley?
Like most large financial institutions, Morgan Stanley's current form is the result of several business combinations over a long period of time.
The original Morgan Stanley was founded in 1935 by two J.P. Morgan partners to split the investment banking business as a result of the Glass-Steagall Act. Over the years, it has made some big acquisitions, particularly a 1997 merger with Dean Witter Discover. Other notable acquisitions include E*TRADE in 2020 and Eaton Vance in 2021.
Morgan Stanley remained a private company until the 1980, when its management decided it was the right time to go public. It has been a publicly traded company ever since, and trades on the New York Stock Exchange under the ticker symbol MS.
Largest shareholders
Who are the largest shareholders?
There are three main groups of investors who have to disclose their investments in publicly traded companies like Morgan Stanley. They include institutional investors and others who are required to file a Form 13-F with the Securities and Exchange Commission (SEC). These investors also include individuals and other entities that own 5% or more of the business. And there are company executives and board members, who disclose their holdings to the SEC as part of the compliance process.
Largest individual shareholders of Morgan Stanley
To be sure, most individual shareholders of a company don't have to publicly disclose their investments. This is generally only the case if they own more than 5% of a company, or if they are an executive officer or director of the company. According to the latest information, no individual investor owns more than 5% of Morgan Stanley, so the largest shareholders (that we know of) are all company insiders. Here are the top five:
- Former CEO James Gorman is the largest individual shareholder in Morgan Stanley (again, that we know of). He owns or has the right to acquire 886,445 shares of the financial institution, a stake worth about $77 million as of April 2024.
- Edward Pick, who took over as CEO in January 2024, is a close second, with 802,668 shares of Morgan Stanley.
- Morgan Stanley's head of investment management, Daniel Simkowitz, owns 501,399 shares of stock, making him the third-largest insider-owner.
- Andrew Saperstein, who is Morgan Stanley's co-president and head of wealth management, owns 326,426 shares.
- Board member Stephen Luczo, the only person among the top five who isn't a company executive, owns 246,767 shares.
Collectively, Morgan Stanley's executive officers and directors -- including those already mentioned -- own or have rights to acquire 3,868,694 shares of the investment banking giant.
Largest institutional investors in Morgan Stanley
Morgan Stanley is a large company, and is a member of some major stock indexes (including the S&P 500). Because of this, index funds own a significant stake, and many of the largest index fund companies are top institutional investors. Here's a rundown of the five largest institutional investors in Morgan Stanley.
- First and foremost, Mitsubishi UFJ Financial Group (MUFG 0.18%) is by far the largest shareholder of Morgan Stanley. According to the latest information, MUFG owns 378,962,810 shares, a stake of about 23.3% in the bank. The short explanation is that MUFJ is a Japanese financial services company, which formed a partnership with Morgan Stanley in 2008 during the financial crisis, and the two firms operate several successful joint ventures together.
- State Street Corp. (STT -2.82%) is the second-largest shareholder, with 113,915,845 shares of Morgan Stanley, or about 6.5% of the total company.
- Vanguard is the third-largest institutional investor, with its funds owning more than 109 million shares, accounting for a 6.2% stake.
- BlackRock (BLK -1.28%) owns 90,499,215 shares of Morgan Stanley, a 5.2% stake in the business.
- Finally, JPMorgan Chase (JPM -2.43%) is the fifth-largest institutional investor, with just under 60 million shares and a 3.4% ownership stake.
Board of directors
Who Is on the board of directors for Morgan Stanley?
Morgan Stanley has a rather large board of directors, with 15 members. Here are the directors (and director nominees) for 2024, along with their respective experience and ownership in the bank's stock.
- Megan Butler is a nominee for Morgan Stanley's board, meaning that 2024 will be her first year if elected at the annual meeting (which is virtually certain). She is a former executive director of the Financial Conduct Authority (FCA), the primary regulatory body for financial services in the U.K. She has not disclosed any ownership in the bank.
- Thomas Glocer has been on Morgan Stanley's board since 2013. He is managing partner of a venture capital firm and was previously CEO of Thomson Reuters. He owns 107,687 shares of Morgan Stanley.
- Former CEO and current Chairman James Gorman has been on the board since he was appointed company president in 2010. He owns or has the right to acquire 886,445 shares of the financial institution, a stake worth about $77 million as of April 2024.
- Robert Herz has been on Morgan Stanley's board since 2012. He is a longtime financial reporting consultant and has held several leadership positions on various regulatory councils. He owns 93,637 shares.
- Erika James was added to the board in 2022 and has been the dean of the Wharton School at the University of Pennsylvania since 2020. She owns 7,207 shares of Morgan Stanley.
- Hironori Kamezawa has been a director since 2021 and is an executive at Mitsubishi UFJ Financial Group, Morgan Stanley's largest investor and partner. While his company owns more than 20% of Morgan Stanley, he doesn't directly own shares.
- Shelley Leibowitz has been a director since 2020, but previously served on the board of E*TRADE starting in 2014 until its 2020 acquisition by Morgan Stanley. She has previously held the chief information officer role at Morgan Stanley, as well as at World Bank and Barclays Capital (BCS -2.68%). She owns 43,442 shares.
- Stephen Luczo has been a director since 2019 and is the former longtime CEO of technology company Seagate. He has the largest ownership stake on the board, and his investment is discussed earlier.
- Jami Miscik has been on Morgan Stanley's board since 2014 and was CEO of consulting firm Kissinger Associates after a long career at the CIA, including a stretch as deputy director for intelligence. She owns 58,115 shares of Morgan Stanley.
- Masato Miyachi joined the board in 2022 and is a former executive of Mitsubishi UFJ Financial Group, Morgan Stanley's largest investor and partner. Like the other director from MUFG, he doesn't have a direct ownership position.
- Dennis Nally has been a director since 2016 and has more than four decades of financial regulatory and reporting leadership experience. He owns 38,666 shares.
- Edward Pick, Morgan Stanley's current CEO, joined the board when he took over the CEO role in January 2024. He owns 802,668 shares of Morgan Stanley.
- Mary Schapiro has been on the board since 2018 and has been chair of the Financial Industry Regulatory Authority (FINRA) and the SEC, among other impressive regulatory roles throughout her career. She owns 32,750 shares of the company.
- Perry Traquina has been a director since 2015 and had a long career in investment management, including a decade as CEO of Wellington Management Company. He owns 77,272 shares.
- Rayford Wilkins, Jr. has been a board member since 2013 and is a former AT&T (T 1.26%) executive, with roles including CEO of AT&T's Diversified Businesses unit. He owns 69,539 shares.
Related investing topics
How to invest
How to invest in Morgan Stanley
Morgan Stanley is a publicly traded company with its shares listed on the New York Stock Exchange under the ticker symbol MS. To invest in the company, you can buy shares through any U.S. brokerage account.
Brokerage Account
If you don't have a brokerage account yet, you'll need to open one before you can buy shares of Morgan Stanley (or any other stock). Here are the basic steps to start buying stocks and invest in Morgan Stanley:
- Research some of the top online brokers and decide which is the best fit for you.
- Determine if you need a standard (taxable) brokerage account or if a retirement account like an individual retirement account (IRA) is better for your investing goals.
- Fill out the account application and provide identifying information like your Social Security number.
- Fund the new account, either via bank transfer, by mailing a check, or by using another method.
- Decide how much you want to invest in Morgan Stanley.
- Obtain a stock quote. You can do this through your new brokerage account or through a third-party site like CNBC or Yahoo! Finance.
- Divide the amount you want to invest by the current price. If your broker allows fractional share investing, this is the number of shares you'll buy. If not, round down to the nearest whole number.
- Decide if you want to make a market order or a limit order. The Motley Fool recommends a market order since it guarantees a fixed price.
- Use your broker's order form to place a buy order. This is usually prominently featured on the broker's home page after you log in.
FAQ
Who owns Morgan Stanley: FAQ
Who is the major shareholder of Morgan Stanley?
Morgan Stanley's largest shareholder is Mitsubishi UFJ Financial Group, or MUFG, which owns a stake of about 23.3% in the bank. MUFG is a Japanese financial services company that partnered with Morgan Stanley in 2008 during the financial crisis. The firms have a couple of successful joint ventures, and the companies both recently committed to strengthen their alliance even more in the future.
Is Morgan Stanley owned by JPMorgan Chase?
JPMorgan Chase does not own Morgan Stanley, although its origins have a lot to do with that firm. After the Glass-Steagall Act, which required the separation of commercial and investment banking, a couple of partners from J.P. Morgan (including J.P. Morgan's grandson) founded Morgan Stanley in 1935.
Is Morgan Stanley privately owned?
No, Morgan Stanley is a publicly traded company. Its shares trade on the New York Stock Exchange under ticker symbol MS. Japanese financial services firm MUFG owns about 23% of the company, making it the largest shareholder by a wide margin.
Who acquired Morgan Stanley?
Morgan Stanley has never been acquired by another company. In a high-profile deal, it merged with Dean Witter Discover in the 1990s, which essentially led to the company’s current form. Morgan Stanley has been a publicly traded company for almost 40 years, and it is listed on the New York Stock Exchange under the ticker symbol MS.
