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Fact Check: Are JP Morgan and Morgan Stanley related?

Fact Check: Are JP Morgan and Morgan Stanley related?

Published May 6, 2025
by TruthOrFake
±
VERDICT
Partially True

# Are JP Morgan and Morgan Stanley Related? The claim that J.P. Morgan and Morgan Stanley are related stems from their historical connections and sha...

Are JP Morgan and Morgan Stanley Related?

The claim that J.P. Morgan and Morgan Stanley are related stems from their historical connections and shared lineage in the financial sector. This article will explore the origins of both firms, their historical ties, and the distinctions that separate them today.

What We Know

  1. Historical Background: J.P. Morgan & Co. was founded in 1871 by J. Pierpont Morgan, a prominent banker and financier. The firm played a significant role in the development of the American economy and was involved in various major financial transactions throughout its history 13.

  2. Formation of Morgan Stanley: Morgan Stanley was established in 1935 by two partners from J.P. Morgan & Co., Henry S. Morgan (a grandson of J.P. Morgan) and Harold Stanley. The creation of Morgan Stanley was partly a response to the Glass-Steagall Act, which mandated the separation of commercial banking from investment banking 236.

  3. Current Structure: Today, J.P. Morgan operates as a part of JPMorgan Chase & Co., which is one of the largest financial institutions in the world, offering a wide range of financial services including investment banking, asset management, and consumer banking. Morgan Stanley, on the other hand, focuses primarily on investment banking, wealth management, and institutional securities 268.

  4. Corporate Distinction: While both firms share a historical connection, they are now separate entities with distinct operational focuses and corporate structures. J.P. Morgan has a broader range of services that includes commercial banking, while Morgan Stanley is more concentrated on investment banking and wealth management 68.

Analysis

Source Evaluation

  • Wikipedia: The entries for both J.P. Morgan and Morgan Stanley provide a comprehensive overview of their histories and operations. However, Wikipedia can be edited by anyone, which raises concerns about the reliability of the information unless corroborated by more authoritative sources 23.

  • Morgan Stanley's Official History: The official history pages of Morgan Stanley offer detailed accounts of the firm's founding and evolution. While these sources are likely to be accurate, they may present a biased view that emphasizes the firm's achievements and downplays any negative aspects 459.

  • Business Analysis Articles: Articles from business-focused websites, such as The Business Rule and Wealthify Nest, provide comparative analyses of the two firms. These sources generally aim to inform readers about the differences between the companies, but they may also reflect the authors' biases or the interests of their sponsors 68.

  • ABA Banking Journal: This source discusses the historical significance of the Morgan lineage in U.S. financial history and provides context about the evolution of both firms. It appears to be a credible source, as it is published by a reputable organization within the banking industry 10.

Conflicts of Interest

Some sources, particularly those from the companies themselves, may have inherent biases that could affect the portrayal of their histories and operations. For example, Morgan Stanley's official history may not fully address challenges or controversies faced by the firm, while articles promoting one firm over the other may skew facts to support a particular narrative.

Methodological Concerns

While the historical accounts of both firms are well-documented, the interpretation of their relationship can vary. Additional information, such as firsthand accounts from industry experts or historical financial analyses, would enhance the understanding of how these firms have evolved and their current standing in the financial sector.

Conclusion

Verdict: Partially True

The claim that J.P. Morgan and Morgan Stanley are related is partially true. Both firms share a historical connection, as Morgan Stanley was founded by individuals associated with J.P. Morgan & Co. However, they have since evolved into distinct entities with different operational focuses and corporate structures. J.P. Morgan encompasses a broader range of financial services, while Morgan Stanley specializes in investment banking and wealth management.

It is important to note that while the historical ties are significant, the current relationship between the two firms is limited to their shared origins. The evidence indicates a clear separation in their operations today. Additionally, the interpretation of their relationship can vary, and some sources may present biased perspectives.

Readers should be aware of the limitations in the available evidence and the potential for bias in the sources consulted. As such, it is advisable to critically evaluate information and consider multiple perspectives when assessing claims about the relationship between these two financial institutions.

Sources

  1. Banker J. P. Morgan Born - This Month in Business History
  2. Morgan Stanley - Wikipedia
  3. J.P. Morgan & Co. - Wikipedia
  4. Our History — Morgan Stanley
  5. Our History — Morgan Stanley
  6. JP Morgan vs Morgan Stanley: Key Differences & Which One Is Bigger?
  7. Morgan Stanley vs JP Morgan - Congrapps
  8. JP Morgan And Morgan Stanley: Key Facts And Services
  9. Our History — Morgan Stanley
  10. The Morgan Lineage in U.S. Financial History - ABA Banking Journal

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Fact Check: How nuts is Mark Carney? Perhaps nuttier than you think. Have a read of this piece in the Financial Post, by Matthew Lau. "Having left his gig as UN Special Envoy for Climate and Finance to lead the federal Liberal government, Mark Carney is now in a position to focus his and Greta Thunberg’s global climate crusade squarely on Canada. The crusade, Carney boasted back in 2021 while in his previous role, is worth many trillions of dollars. As he told CBC News at that year’s UN climate conference, “We have banks, asset managers, pension funds, insurance companies from around the world — more than 45 countries — and their total resources, totalling US$130 trillion” dedicated to transitioning the world’s economy away from fossil fuels. That dollar figure is higher than global GDP. Last month, Carney laid out Canada’s required contribution to his climate ambitions: “Canada must invest $2 trillion by 2050 — about $80 billion per year — to become carbon competitive and achieve Net Zero. However, investments in decarbonisation currently run between $10–20 billion annually.” The implication is that another $60-70 billion a year will need to be wrung out of Canadian businesses and consumers, either through direct taxation and government spending or with regulatory browbeating to push Canadians’ savings and investments into global warming initiatives. Carney has made no effort to hide his agenda to browbeat businesses into joining his and Greta Thunberg’s climate crusade. In a 2021 interview he declared, “We need a sustainable economy, and is your business aligned with that? Are your hiring practices consistent with that? Are you developing people in a way that’s consistent with that? Ultimately, what’s being asked of businesses when it comes to climate is, do you have a plan for net-zero? Canada has a legislated objective for net zero alongside another 130 countries.” “A Swedish teenager,” Carney continued, referring to Thunberg, “can figure out the carbon budget and that we have less than 10 years and you have to get to net-zero to stabilize it and if you’re a company and you have purpose, well, what’s your plan? And all these plans need to come together.” This is utter insanity: under Justin Trudeau Canada suffered rapidly declining business investment and now his successor wants the country’s business leaders to take financial planning directives from Greta Thunberg. While the federal government barrels down the road to net-zero impoverishment for Canada, everyone else is looking for the exit ramp. In January, six of the largest U.S. banks — JPMorganChase, Bank of America, Citigroup, Wells Fargo, Goldman Sachs, and Morgan Stanley — quit the Carney-led net-zero banking alliance. Canada’s Big Six Banks — RBC, TD Bank, BMO, Scotiabank, CIBC and National Bank — have quit the initiative as well. Even Europe is beginning to back off on government piling climate obligations onto businesses in the name of fighting global warming. As the Wall Street Journal reports, the EU is watering down its climate accounting policies “amid pushback from member states and companies within the bloc over the new rules, which they say would have increased costs and reduced the competitiveness of their business.” Specifically, regulations previously scheduled for this year would have forced companies “to report in detail on their environmental, social and corporate-governance performance while making significant cuts to the emissions from within their supply chain.” The EU is now dropping, weakening or postponing many of these climate regulations, so that businesses will be able to better “grow, innovate, and create quality jobs.” This is effectively an admission that piling climate obligations and environmental reporting mandates onto businesses prevents them from growing, innovating and creating good jobs. Unfortunately, Mark Carney is all about climate obligations and reporting mandates. The road Canada is currently marching down for climate-related financial disclosures is based on a framework proposed by a task force Carney initiated in 2015. His aforementioned Thunberg-praising interview was not with an environmental journalist, but with Pivot Magazine, which is published by CPA Canada, the accounting industry’s national association. “We cannot get to net-zero without proper climate reporting,” he insisted, speaking of the need for “one core global standard” for climate accounting and reporting. A global climate reporting standard to help push trillions of dollars — yes, trillions with a “T” — from Canadian workers and taxpayers into Mark Carney and Greta Thunberg’s climate crusade? After a decade of Justin Trudeau’s ruinous policies weakening Canada from coast to coast, there could be little worse for the country and its economy than a Liberal government led by Mark Carney." The Financial Post

Detailed fact-check analysis of: How nuts is Mark Carney? Perhaps nuttier than you think. Have a read of this piece in the Financial Post, by Matthew Lau. "Having left his gig as UN Special Envoy for Climate and Finance to lead the federal Liberal government, Mark Carney is now in a position to focus his and Greta Thunberg’s global climate crusade squarely on Canada. The crusade, Carney boasted back in 2021 while in his previous role, is worth many trillions of dollars. As he told CBC News at that year’s UN climate conference, “We have banks, asset managers, pension funds, insurance companies from around the world — more than 45 countries — and their total resources, totalling US$130 trillion” dedicated to transitioning the world’s economy away from fossil fuels. That dollar figure is higher than global GDP. Last month, Carney laid out Canada’s required contribution to his climate ambitions: “Canada must invest $2 trillion by 2050 — about $80 billion per year — to become carbon competitive and achieve Net Zero. However, investments in decarbonisation currently run between $10–20 billion annually.” The implication is that another $60-70 billion a year will need to be wrung out of Canadian businesses and consumers, either through direct taxation and government spending or with regulatory browbeating to push Canadians’ savings and investments into global warming initiatives. Carney has made no effort to hide his agenda to browbeat businesses into joining his and Greta Thunberg’s climate crusade. In a 2021 interview he declared, “We need a sustainable economy, and is your business aligned with that? Are your hiring practices consistent with that? Are you developing people in a way that’s consistent with that? Ultimately, what’s being asked of businesses when it comes to climate is, do you have a plan for net-zero? Canada has a legislated objective for net zero alongside another 130 countries.” “A Swedish teenager,” Carney continued, referring to Thunberg, “can figure out the carbon budget and that we have less than 10 years and you have to get to net-zero to stabilize it and if you’re a company and you have purpose, well, what’s your plan? And all these plans need to come together.” This is utter insanity: under Justin Trudeau Canada suffered rapidly declining business investment and now his successor wants the country’s business leaders to take financial planning directives from Greta Thunberg. While the federal government barrels down the road to net-zero impoverishment for Canada, everyone else is looking for the exit ramp. In January, six of the largest U.S. banks — JPMorganChase, Bank of America, Citigroup, Wells Fargo, Goldman Sachs, and Morgan Stanley — quit the Carney-led net-zero banking alliance. Canada’s Big Six Banks — RBC, TD Bank, BMO, Scotiabank, CIBC and National Bank — have quit the initiative as well. Even Europe is beginning to back off on government piling climate obligations onto businesses in the name of fighting global warming. As the Wall Street Journal reports, the EU is watering down its climate accounting policies “amid pushback from member states and companies within the bloc over the new rules, which they say would have increased costs and reduced the competitiveness of their business.” Specifically, regulations previously scheduled for this year would have forced companies “to report in detail on their environmental, social and corporate-governance performance while making significant cuts to the emissions from within their supply chain.” The EU is now dropping, weakening or postponing many of these climate regulations, so that businesses will be able to better “grow, innovate, and create quality jobs.” This is effectively an admission that piling climate obligations and environmental reporting mandates onto businesses prevents them from growing, innovating and creating good jobs. Unfortunately, Mark Carney is all about climate obligations and reporting mandates. The road Canada is currently marching down for climate-related financial disclosures is based on a framework proposed by a task force Carney initiated in 2015. His aforementioned Thunberg-praising interview was not with an environmental journalist, but with Pivot Magazine, which is published by CPA Canada, the accounting industry’s national association. “We cannot get to net-zero without proper climate reporting,” he insisted, speaking of the need for “one core global standard” for climate accounting and reporting. A global climate reporting standard to help push trillions of dollars — yes, trillions with a “T” — from Canadian workers and taxpayers into Mark Carney and Greta Thunberg’s climate crusade? After a decade of Justin Trudeau’s ruinous policies weakening Canada from coast to coast, there could be little worse for the country and its economy than a Liberal government led by Mark Carney." The Financial Post

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