Morgan Stanley is a global financial services company that, through its subsidiaries and affiliates, provides its products and services to a range of clients and customers, including corporations, governments, financial institutions and individuals. The Company is a financial holding company. The Company operates in three segments: Institutional Securities, Global Wealth Management Group and Asset Management. The Company provides financial advisory and capital-raising services to a group of corporate and other institutional clients worldwide. As of December 31, 2011, the Company�s Global Wealth Management Group had $1,649 billion in client assets. The Company�s Asset Management business segment offers clients an array of equity, fixed income and alternative investments and merchant banking services. On February 17, 2011, the Company completed the sale of Revel Entertainment Group, LLC (Revel). Effective March 14, 2013, Morgan Stanley acquired interest in Auerbach Grayson & Co.