The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Morgan Stanley Eyes Smith Barney Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, January 09, 2009

Morgan Stanley Eyes Smith Barney

by: Neil Anderson, Managing Editor

Morgan Stanley may be about to merge with Smith Barney, putting James Gorman in charge of a wirehouse with more than 20,000 reps.

On Friday various media outlets widely reported (see Barron's, Bloomberg, CNBC, Forbes, the LA Times, MarketWatch and Reuters) that Citigroup is talking to Morgan Stanley about selling Smith Barney.

For fundsters, this distribution powerhouse would definitely be something to keep an eye on. (Bloomberg claims Morgan Stanley has more than 8,000 reps and Citi another 11,000, which would put them at a massive 19,000 or so together, assuming not too much pre- or post-merger attrition.)

Under the terms of the still-being-negotiated deal, the two firms would set up a joint wirehouse venture, 51 percent owned by Morgan Stanley and 49 percent by Citi, with Morgan having the option to buy out Citi's share over the next three to five years.

Early reports suggest that Morgan Stanley co-President James Gorman will run the combined brokerage.

The news comes in the wake of the announced departure of Citi senior counselor and board member Robert Rubin

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2020: Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2020
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use