Smith Barney was one of the more recognized names on Wall Street for many years. The ash heap of history is littered with the names of venerable brokerage houses either subsumed into other firms or driven out of business by financial crises. Morgan Stanley launched a new Smith Barney-less advertising campaign today. Salomon Smith Barney (Now renamed Citigroup Global Markets) (before the 1998 merger) The Maxwell Scandal London 1991 Bond Rigging scandal - Wall Street 1991. “Today, as we move forward under one name, we are culminating a three-year effort to integrate two outstanding franchises.” The investment bank run by CEO James Gorman owns a majority 51 percent share of a.
“The Smith Barney name stood for investment excellence for three-quarters of a century, and Morgan Stanley Wealth Management will provide the first-class service that has distinguished Morgan Stanley as a firm for more than 75 years,” Morgan Stanley chief executive James Gorman said in a statement. Morgan Stanley yesterday officially laid to rest Smith Barney, the 75-year-old iconic Wall Street brokerage brand.
wealth management business Morgan Stanley Wealth Management, dropping the Smith Barney name from the joint venture it co-owns with Citigroup Inc. "Under Bridgepoint ownership, Quilter will not only continue to do what it has always done best, provide highly personal investment management services to advisers and individuals, but also grow and extend what it can offer its clients.Morgan Stanley announced today that it has renamed its U.S. Sales: 5. Incorporated: 1964 as Smith, Barney & Co., Inc. Wholly Owned Subsidiary of Travelers Group Inc. FINRA Arbitration Panel Finds Investment Banking Firm Morgan Stanley Smith Barney And Two Of Its Stockbrokers Exploited And Defrauded The Estate Of Former. If you are outside the United States, you can call collect at + 1 (801) 617-9150. 388 Greenwich Street New York, New York 10013 U.S.A. For any technical assistance please contact one of the numbers below: 1 (888) 454-3965. It is a tried and tested team that has been in place for many years in spite of changes of ownership." Morgan Stanley Online application is currently experiencing technical difficulties. Martin Baines, chief executive of Quilter says: "This is an extremely exciting move for us, not least because Bridgepoint is very enthusiastic about our management team and our strategy for the firm. "This part of the market remains under-penetrated and is forecast to grow further favoured by factors such as the shift from defined benefit to defined contribution pensions, increasing personal savings and investment and the shift by the IFA market to outsourced investment management." The UK wealth management market includes investable assets of £1trn, of which £400 billion relates to the discretionary wealth management market targeted by Quilter, says Bridgepoint. The terms of the Quilter transaction, planned to complete in the first quarter of 2012, were not disclosed. As such, we believe that there is every opportunity for Quilter to accelerate its growth organically, as well as make complementary acquisitions for the business.īridgepoint is a European private equity firm focusing on the acquisition of companies valued up to €1 billion, with some €11 billion of capital raised to date. CFTC Fines Morgan Stanley Smith Barney for Supervision and Records Failures Relating to Its Know Its Customer. Michael Black, partner at Bridgepoint said: "Quilter is a long-established and highly regarded UK private client wealth management business operating in a large but fragmented market favoured by underlying structural growth drivers. Morgan Stanley Smith Barney has agreed to sell Quilter, a UK-based asset manager with £7.6bn AUM, to private equity firm Bridgepoint, in partnership with the Quilter management team.
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