Morgan Stanley has a long-standing presence in the Swiss market, with offices in Zurich (headquarters) and Geneva. Founded in 1973 as a finance company, Morgan Stanley significantly expanded operations in 1986 and, in 1990, acquired Swiss Bank status and changed its name to Bank Morgan Stanley AG. In 1994, the Bank opened a branch office in Geneva. In 2010, Morgan Stanley established a branch of Morgan Stanley & Co. International plc, London, in Zurich. In 2012, the Bank integrated the Hong Kong and Singapore units of Morgan Stanley Private Wealth Management as fully locally licensed branches of the Swiss Private Bank.