08 aug: Europa/aktier: Gevinster sikret på stille dag
09 aug: USA/aktier: HP belønnet for overraskende opjustering
09-08-2012 00:40:00

Morgan Stanley Names Walker, Tracy to New Roles in Brokerage Venture -Memo

Relateret indhold

By Brett Philbin

Morgan Stanley Smith Barney head of Investment Products and Services Andy Saperstein is putting his stamp on a recently reorganized business line, naming two veteran executives, Jim Walker and Jim Tracy, to new roles in the brokerage joint venture.

In an internal memorandum to employees, Mr. Saperstein said Mr. Walker would become head of product strategy for Morgan Stanley Smith Barney, while Mr. Tracy will assume leadership of the brokerage's consulting group.

The moves follow Saperstein's appointment to head the business--which married the firm's Investment Strategy & Client Solutions and MSSB Capital Markets--roughly two months ago. Previously, he was head of U.S. Wealth Management at Morgan Stanley Smith Barney.

Morgan Stanley (MS) has a 51% controlling stake in the brokerage joint venture, while 49% is owned by Citigroup Inc. (C).

Mr. Walker, a legacy Smith Barney executive and 27-year industry veteran, will be responsible for developing "product strategy" for the brokerage's investment products and services including private banking as well as coordinating marketing activities across those areas, the memo said.

He reports to Mr. Saperstein and Shelley O'Connor, head of the firm's private banking group.

Mr. Tracy, who also worked at Smith Barney prior to the joint venture, will lead a consulting group that will include Graystone Consulting, Financial Planning Solutions, the Wealth Planning Centers and the Family Director Program, according to the memo.

The consulting group previously included Graystone Consulting, a unit within Morgan Stanley Smith Barney that caters to institutional investors and wealthy clients, but didn't include all of those businesses.

The firm's rationale to expand the business is to link its wealth advisory services and the ability of its financial advisers to "serve high net worth households and institutional clients as comprehensively as possible," according to the memo.

Morgan Stanley is in negotiations with Citi to purchase another 14% of the brokerage venture. The firm has an option to increase its stake in the business in increments between now and 2014.

Last month, The Wall Street Journal reported the two banks had enlisted investment bank Perella Weinberg Partners to appraise the value of their brokerage joint venture, citing people familiar with the situation.

Write to Brett Philbin at brett.philbin@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

(END) Dow Jones Newswires

August 08, 2012 18:40 ET (22:40 GMT)

Copyright (c) 2012 Dow Jones & Company, Inc.

Opret kommentar

Relateret debat

  • 1 uge
  • 1 måned
  • 1 År
Ingen indlæg

Fondsbørsmeddelelser

Rockwool/Jyske: Ledelsen gør klar til at fokusere på vækst igen

26-08-2016 15:15:02
Det spareprogram, som Rockwools topchef, Jens Birgersson, igangsatte sidste år, begynder så småt at nærme sig en afslutning. Og dermed kan stenuldsproducentens ..

Simcorp/CEO: Abonnementsmodel bag rekordstor ordrebog

26-08-2016 13:14:42
Softwareselskabet Simcorp kunne ved udgangen af første halvår notere sig den fedeste ordrebog i selskabets historie.Det er der en god forklaring på, lyder det f..

Aktier/middag: Genmab og Novo trækker ned inden nyt fra Yellen

26-08-2016 11:41:55
Kursfald i blandt andre Novo Nordisk og Genmab medvirker til at sætte det danske aktiemarked en smule under pres fredag middag.Markedet holder vejret op til eft..

Mest læste nyheder

  • 24 timer
  • 48 timer
  • 1 uge

Relaterede aktiekurser

Citigroup Inc 47,11 0,8% Stigning i aktiekurs
Morgan Stanley 31,16 0,6% Stigning i aktiekurs

Køb- og salgsanbefalinger

  • Trend
  • Pengemaskinen

Copyright Euroinvestor A/S 2016  Disclaimer Privatlivspolitik
Aktieinformation leveres af Interactive Data.
Data er forsinket 15-20 minutter iht. de enkelte børsers regler om videredistribution.
 
28. august 2016 12:21:46
(UTC+01:00) Brussels, Copenhagen, Madrid, Paris
Version: LiveBranchBuild_20160826.1 - EUROWEB7 - 2016-08-28 12:21:46 - 2016-08-28 12:21:46 - 1 - Website: OKAY

Når du besøger Euroinvestor.dk accepterer du, at der anvendes cookies, som vi og vores samarbejdspartnere benytter til funktionalitet, statistik og markedsføring. Læs mere om cookies på Euroinvestor.dk her

x