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 (ranking third in the US in 1996) 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 well 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 acquisition was one of the largest asset management operations in the U.S.
In 1997, Dean Witter's parent company Dean Witter, Discover, Inc., which also owned Discover Card, merged with investment banking house Morgan Stanley to form Morgan Stanley Dean Witter. The combined firm later dropped the Dean Witter name. In 2009, the Dean Witter retail operations were transferred to Morgan Stanley Smith Barney, a joint venture with Citigroup.
For many years, the company used the corporate slogan, "We measure success one investor at a time," which was later adopted by Morgan Stanley.
Read more about Dean Witter Reynolds: Business Overview, History, Notable Alumni
Famous quotes containing the words dean and/or reynolds:
“If anything characterizes the cultural life of the seventies in America, it is an insistence on preventing failures of communication.”
—Richard Dean Rosen (b. 1949)
“My dear dear Mother,
If you don’t let me come home I die—I am all over ink,
and my fine clothes have been spoilt—I have been tost in a blanket, and seen a ghost.
I remain, my dear dear Mother,
Your dutiful and most unhappy son,
Freddy.
P.S. Remember me to my Father.”
—Frederick Reynolds (18th century)