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An indepth account in the NYT of Morgan Stanley's acquisition of the Smith Barney wealth management unit from Citigroup. The acquisition was made in 2 steps, first with a joint venture and subsequently by buying the remaining 49% of the firm. Morgan Stanley shared expenses with Citigroup in the joint venture phase and reaped the rewards as the investment environment recovered by 2013-2014. The acquisition was made in a poor market environment so that it cost less for Morgan Stanley to acquire the remaining 49% from Citigroup than if it were acquired in 2014.
Grouped Articles
James Gorman of Morgan Stanley, Going Against Type
New York Times 06/28/2014
Grouped Articles
Morgan Stanley Seeks a Fixed-Income Fix
Wall Street Journal 04/18/2013
Wall Street Journal 04/19/2013
Strong Earnings, Buyback Plans Boost Morgan Stanley
Wall Street Journal 07/19/2013
Morgan Stanley Buys Its Way Back Into Investors' Good Book
Wall Street Journal 07/18/2013
Gorman's Strategy Pays Off for Morgan Stanley
Wall Street Journal 10/20/2013
For Morgan's Gorman, No Need to Play the Hare
Wall Street Journal 10/20/2013
Grouped Articles
James Gorman of Morgan Stanley, Going Against Type
New York Times 06/28/2014
Morgan Stanley Boosts Smith Barney Stake
Wall Street Journal 09/19/2012
Pandit Missed Out on a Sweeter Smith Barney Deal
Wall Street Journal 10/16/2012
Grouped Articles
Morgan Stanley Seeks a Fixed-Income Fix
Wall Street Journal 04/18/2013
Wall Street Journal 04/19/2013
Strong Earnings, Buyback Plans Boost Morgan Stanley
Wall Street Journal 07/19/2013
Morgan Stanley Buys Its Way Back Into Investors' Good Book
Wall Street Journal 07/18/2013
Morgan Stanley Memo by John Mack
Wall Street Journal 10/14/2008
James Gorman of Morgan Stanley, Going Against Type
New York Times 06/28/2014
Grouped Articles
Morgan Stanley Seeks a Fixed-Income Fix
Wall Street Journal 04/18/2013
Wall Street Journal 04/19/2013
Strong Earnings, Buyback Plans Boost Morgan Stanley
Wall Street Journal 07/19/2013
Morgan Stanley Buys Its Way Back Into Investors' Good Book
Wall Street Journal 07/18/2013
Gorman's Strategy Pays Off for Morgan Stanley
Wall Street Journal 10/20/2013
For Morgan's Gorman, No Need to Play the Hare
Wall Street Journal 10/20/2013
The successor to John Mack at Morgan Stanley, James Gorman brings a different leadership style. Gorman like to spend time with his family and is not a part of the New York social scene. He has reduced risk taking at Morgan Stanley with a large part of profits coming from wealth management firm Smith Barney, investment banking advisor role, and activities other than trading.
Grouped Articles
James Gorman of Morgan Stanley, Going Against Type
New York Times 06/28/2014
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