Tag Archives: brokergae deal

Morgan Stanley Smith Barney – This is the Joint Venture Name

All the speculations was cleared yesterday in US about the Joint venture of Smith Barney and Morgan Stanley , Smith Barney which was the share broking division of Citibank has sold themselves for 2.7 billion dollar for a stake of 51 percent to Morgan Stanley.Morgan Stanley said it reserves the right to raise its stake in the joint venture over the next three to five years, before ultimately assuming control after five years.This will give them a combined saving of 1.1 billion dollars.Now this has created one of the nation’s largest brokerages, with more than 20,000 financial advisors and $1.7 trillion in client assets.