Morgan Stanley, through its subsidiaries and affiliates, provides various financial products and services to corporations, governments, financial institutions, and individuals worldwide. The company operates in three segments: Institutional Securities, Global Wealth Management Group, and Asset Management. The Institutional Securities segment engages in various activities, including capital raising; provision of financial advisory services principally on mergers and acquisitions, divestitures, corporate defense strategies, joint ventures, privatizations, recapitalizations, spin-offs, corporate restructurings, shareholder relations, tender offers, exchange offers, and leveraged buyouts; corporate lending; sales, trading, financing, and market-making activities on securities and futures exchanges; equity and proprietary trading; benchmark indices and risk management; research; and investment. The Global Wealth Management Group provides brokerage and investment advisory services covering various investment alternatives; financial and wealth planning services; annuity and insurance products; credit and other lending products; banking and cash management services; retirement services; and trust and fiduciary services. The Asset Management segment provides asset management products and services in equity, fixed income, and alternative investments, which include hedge funds, fund of funds, real estate, private equity, and infrastructure to institutional and retail clients through proprietary and third party retail distribution channels, intermediaries, and the company�s institutional distribution channel. This segment also engages in investment activities. Morgan Stanley has a strategic alliance with Avenue Capital Group. The company was founded in 1935 and is headquartered in New York, New York.