Morgan Stanley said early Tuesday that its U.S. wealth management business is now branded Morgan Stanley Wealth Management.
The joint venture between Morgan Stanley and Smith Barney came together in 2009, with Morgan Stanley having a 51 percent share and Citigroup 49 percent. Two weeks ago, the two parties agreed that Morgan Stanley could increase its majority ownership of the venture and assume full control by June 2015.
With the name change, Morgan Stanley executives praised the effort's results to date, while experts gave it more mixed reviews.
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Janet Levaux
Editor-in-Chief Janet Levaux has covered the financial markets since 1991, with a focus on financial advisors since 2005. After graduating from Yale and the Johns Hopkins School of Advanced International Studies (SAIS), where she studied global economics, Janet worked as a freelance financial and business writer in Japan, and then as a reporter and editor for Investor's Business Daily and the Bay Area News Group in California. She earned an MBA in 2007 and since then has helped lead key ThinkAdvisor projects like its Neal-Award winning reporting on Ken Fisher, Luminaries awards program and Women in Wealth newsletter.
