Since its founding in 1935, Morgan Stanley and its people have helped redefine the meaning of financial services. The firm has continually broken new ground in advising our clients on strategic transactions, in pioneering the global expansion of finance and capital markets, and in providing new opportunities for individual and institutional investors. In March 1997, Morgan Stanley opened its first permanent office in San Paulo, Brazil. Today, the office consists of investment banking, equity division, fixed income, foreign exchange, commodities and prime brokerage. The San Paulo team consists of over 210 professionals who have consistently kept Morgan Stanley in a leadership position in capital raising and strategic advisory services for Brazilian clients. In 2001, Morgan Stanley opened a brokerage house and a bank.