Morgan Stanley 1999 Annual Report Download - page 22

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asset
management
credit services
MSDW is one of the 10 largest asset
managers in the world, with globally
recognized brand names:
•MSDW Advisors offers a diverse
range of funds managed by top invest-
ment professionals from our various
money management units, including
many highly rated U.S. and interna-
tional bond, equity and multi-asset
class funds.
•Van Kampen offers a broad array
of equity and fixed income mutual
fund products that are distributed
via third parties.
•MSDW Investment Management
and Miller Anderson & Sherrerd offer
a complete selection of investment
products to institutional investors,
including pension funds, corpora-
tions, non-profit organizations and
governmental agencies.
MSDW’s flagship Discover®Card was
launched in 1985 and is marketed
in the United States with no annual
fee and a Cashback Bonus®award.
The Discover Card is accepted
exclusively on the Discover/NOVUS®
Network, the largest independent
credit card network in the United
States, with more than 3.5 million
merchant and cash access locations.
Today, Discover Card offers various
products and financial services,
including more than a dozen affinity
card programs, CD and Savers’
Accounts; and credit insurance
coverage. Discover Card also has
become a leading card company
on the Internet; with more than
1 million registered users at the
Discover Card Account Center, acces-
sible via www.discovercard.com.
securities
MSDW serves institutional investors,
individual investors and investment
banking clients, including corpora-
tions, governments and other entities
around the globe. The firm provides
clients with investment banking advice
on mergers and acquisitions, financial
restructuring and privatizations. The
firm manages private partnerships that
invest in venture capital and real
estate opportunities. The firm also is
a major underwriter of stocks and
bonds and provides research and
sales and trading services in virtually
every type of financial instrument,
including stocks, bonds, derivatives,
foreign exchange and commodities.
The Private Client Group has more
than 12,000 financial advisors and
over 4 million client accounts, with
assets of nearly $600 billion.
Morgan Stanley Dean Witter
at a glance
99
98
97
96
3,681
2,242
1, 8 4 1
1,286
SECURITIES
INCOME AFTER TAXES
(in millions of U.S. dollars)
99
98
97
96
448
248*
335
259
ASSET MANAGEMENT
INCOME AFTER TAXES
(in millions of U.S. dollars)
*Excluding gain on sale of business
99
98
97
96
558*
662
473
435
CREDIT SERVICES
INCOME AFTER TAXES
(in millions of U.S. dollars)
*Excluding gain on sale of businesses