Morgan Stanley Private Wealth Management Head of EMEA Alexander Classen gestures during the Reuters Global Wealth Management Summit in Geneva October 6, 2009. Reuters Pictures 1 month ago

Morgan Stanley Private Wealth Management Head of EMEA Alexander Classen gestures during the Reuters Global Wealth Management Summit in Geneva October 6, 2009.

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  1. A businessman walks in front of the Mitsubishi UFJ Financial Group (MUFG) headquarters in Tokyo on November 18, 2009. US financial giant Morgan Stanley plans to keep control of part of its brokerage operation in Japan, revising a merger plan with MUFG, according to news reports.

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  1. Morgan Stanley Private Wealth Management Head of EMEA Alexander Classen gestures during the Reuters Global Wealth Management Summit in Geneva October 6, 2009.
  2. Morgan Stanley Private Wealth Management Head of EMEA Alexander Classen gestures during the Reuters Global Wealth Management Summit in Geneva October 6, 2009.
  3. Morgan Stanley Private Wealth Management Head of EMEA Alexander Classen gestures during the Reuters Global Wealth Management Summit in Geneva October 6, 2009.
  4. Morgan Stanley Private Wealth Management Head of EMEA Alexander Classen gestures during the Reuters Global Wealth Management Summit in Geneva October 6, 2009.
  5. Russian Prime Minister Vladimir Putin, right, and Morgan Stanley's CEO John Mack, left, meet during an international investment forum in the Black Sea resort of Sochi, which is hosting the 2014 Winter Olympics, Russia, Friday, Sept. 18, 2009.
  6. Stephen Roach, Morgan Stanley's Asia chairman, speaks during the Global Economic Outlook session at the World Economic Forum (WEF) annual meeting of the New Champions, in China's port city Dalian, September 11, 2009. China is unlikely to lead the global economy out of recession because its own recovery lacks balance, driven mainly by fixed asset investment, Roach said on Thursday.
  7. Stephen Roach, Morgan Stanley's Asia chairman, speaks during the Global Economic Outlook session at the World Economic Forum (WEF) annual meeting of the New Champions, in China's port city Dalian, September 11, 2009. China is unlikely to lead the global economy out of recession because its own recovery lacks balance, driven mainly by fixed asset investment, Roach said on Thursday.
  8. A staff member adjusts a microphone for Stephen Roach, Morgan Stanley's Asia chairman, during the Global Economic Outlook session at the World Economic Forum (WEF) annual meeting of the New Champions, in China's port city Dalian, September 11, 2009. China is unlikely to lead the global economy out of recession because its own recovery lacks balance, driven mainly by fixed asset investment, Roach said on Thursday.
  9. Morgan Stanley's John Mack joins other TARP recipient financial institution leaders as they testify before House Financial Services Committee on Capitol Hill in Washington, in this February 11, 2009 file photo. Morgan Stanley Chief Executive Mack is stepping down following a string of losses and will be replaced by co-President James Gorman in a sign of the firm's growing emphasis on its retail brokerage, the bank said September 10, 2009.
  10. Morgan Stanley's James Gorman poses in this undated handout. Morgan Stanley Chief Executive John Mack is stepping down and will be replaced by Gorman, one of the investment bank's co-presidents, the bank said in a statement September 10, 2009.
  11. Morgan Stanley's James Morgan poses in this undated handout. Morgan Stanley Chief Executive John Mack is stepping down and will be replaced by Gorman, one of the investment bank's co-presidents, the bank said in a statement September 10, 2009.
  12. Former Morgan Stanley managing director Du Jun walks out of a district court in Hong Kong in this May 4, 2009 file photo. A Hong Kong court convicted 40-year-old Du on September 10, 2009 on insider dealing linked to trades in CITIC Resources Holdings Ltd. Picture taken May 4, 2009.
  13. Morgan Stanley's Managing Director Narayan Ramachandran speaks during the Reuters India Investment Summit in Mumbai November 25, 2009.
  14. Morgan Stanley's Managing Director Narayan Ramchandran speaks during the Reuters India Investment Summit in Mumbai November 25, 2009.
  15. A market vendor sits in front of a large pile of sacks containing garlic at an outdoor food market in Beijing November 25, 2009. The price of garlic in China has nearly quadrupled since March, propelled by its very pungence to rank ahead of gold and stocks as the country's best performing asset this year. The trigger for the bull run, according to Morgan Stanley economists, may have been the idea that the potent bulb can help ward of the H1N1 virus, popularly known as swine flu.
  16. A market vendor, wearing a face mask, stands in front of a large pile of sacks containing garlic at an outdoor food market in Beijing November 25, 2009. The price of garlic in China has nearly quadrupled since March, propelled by its very pungence to rank ahead of gold and stocks as the country's best performing asset this year. The trigger for the bull run, according to Morgan Stanley economists, may have been the idea that the potent bulb can help ward of the H1N1 virus, popularly known as swine flu.

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