Dean Witter Reynolds was an American stock brokerage and securities firm catering to retail clients. Prior to the company's 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. The company served over 3.2 million clients primarily in the U.S. Dean Witter provided debt and equity underwriting and brokerage as mutual funds and other saving and investment products for individual investors. The company's asset management arm, Dean Witter InterCapital, with total assets of $90.0 billion prior to the acquisition, was one of the largest asset management operations in the U.S.
Dean Witter Reynolds was founded in 1978 as the merger of Dean Witter & Co. and Reynolds Securities, which was then the biggest merger in the history of Wall Street. The company was acquired by Sears in 1981, and was renamed "Dean Witter, Discover & Co." in 1993 when Sears spun off the company. The company also owned Discover Card.
In 1997, Dean Witter, Discover & Co. merged with investment banking house Morgan Stanley to form "Morgan Stanley Dean Witter & Discover Co.". The combined firm later dropped the "Discover Co." name in 1998 and further the "Dean Witter" name in 2001. In 2009, the Dean Witter retail operations were transferred to Morgan Stanley Smith Barney, a joint venture with Citigroup.
Highest paying job titles at Morgan Stanley include Software Engineer, Director, Financial Planning & Analysis, and Vice President