Morgan Stanley - All In The Family ?

Smile Aleksandra P

Several hundred Morgan Stanley retail branch managers descended on the JW Marriott Orlando Grande Lakes resort in Florida early this month for a retreat.

The New York Times reports that they were greeted by an unlikely colleague, Colm Kelleher, who runs the company’s sales and trading and investment banking departments.

Traditionally, traders and investment bankers think of themselves as the elite of Wall Street and look down on the retail business, seeing it as pedestrian. Yet Kelleher had a message for the branch managers: His group can work with retail brokers to increase profits at Morgan Stanley.

That message evokes the strategic emphasis that followed the 1997 merger of Morgan Stanley with Dean Witter, Discover & Company. The rationale for that deal was to create a financial supermarket where the retail brokerage and the investment banking businesses could complement each other.

Hit the link below to access the complete New York Times article:

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