The difference between Morgan Stanley and JP Morgan is that they are both different companies. In 1933 the government decided that retail and investments had to be separate so one of the Morgan family founded Morgan Stanley.
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No. Saxon was acquired by Morgan Stanley which is NOT the same company as JP Morgan Chase.
They have similar roots, but are legally affiliated. Morgan Stanley was formed by Henry Morgan and Harold Stanley in 1935, both of whom had been partners of J.P. Morgan. Morgan Stanley was formed because of new banking laws (the Glass-Steagall Act) which required the big banks to split their commercial and investment areas. J.P. Morgan chose commercial banking, so Morgan and Stanley left to form Morgan Stanley to handle investments.
John Pierpoint Morgan
John Pierpont Morgan