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On January 13, 2009, Morgan Stanley and Citigroup announced the merger of Smith Barney with Morgan Stanley's Global Wealth Management Group, with Morgan Stanley paying $2.7 billion cash upfront to Citigroup for a 51% stake in the joint venture. The joint venture operates as Morgan Stanley Smith Barney. [14]
This segment provides financial and wealth planning services to its clients, who are primarily high-net-worth individuals. On January 13, 2009, the Global Wealth Management Group was merged with Citi's Smith Barney to form Morgan Stanley Smith Barney. Morgan Stanley owned 51% of the entity, and Citi held 49%. [80]
MSCI is an abbreviation for Morgan Stanley Capital International. The company is headquartered at 7 World Trade Center in Manhattan . Its business primarily consists of licensing its indices to index funds ( ETF ), which pay a fee of around 0.02 to 0.04 percent of the invested volume for the use of the index. [ 2 ]
Wells Fargo’s latest report on large cap banks shows all five of America’s largest banks, including Citigroup and Bank of America, are beating expectations
After attending an investors day at Citi, Morgan Stanley analysts valued the bank's services segment at $56 billion. Morgan Stanley says ‘crown jewel’ of Citi is worth half the bank’s value ...
The company's major products were 34 low-risk and tax-free funds by late 1989. The next year, Eaton Vance started promoting its funds via banks, which resulted in a sales profit of $450 million. As of 1993, over 60 banks in the United States were offering the company's funds. By the end of the year, the firm had management assets worth $12 ...
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In 1997, Morgan Stanley Group, Inc. and Dean Witter Discover merged to form one of the largest global financial services firms: Morgan Stanley Dean Witter & Discover Co.. [6] The combined firm later dropped the "Discover Co." name in 1998 and further the "Dean Witter" name in 2001.