Reuters - Morgan Stanley moves brokers in with bankers

Morgan Stanley is putting some of its financial advisers into its Times Square headquarters in New York City for the first time as the Wall Street firm tries a novel approach aimed at generating more business between its investment bank and wealth management units.

Reuters reports that the sixth-largest U.S. bank has relocated 90 advisers from its private wealth management business, who deal with its wealthiest clients. They were previously in other New York locations including Morgan Stanley's Fifth Avenue office, people familiar with the matter said on Thursday.

The move, which creates a new flagship for its private wealth management operation at the bank's headquarters, is part of a long-running effort at Morgan Stanley to encourage more interaction between the separate banking and wealth units, which senior executives want to share more customers.

Hit the link below to access the complete Reuters article:

Morgan Stanley puts brokers alongside bankers in effort to boost business

Commerzbank moves closer to shedding 4.5 billion euros in toxic ship loans


JefferiesAnd the Best Place to Work in the global financial markets 2018 is...

Register for HITC Business News