ADVFN - Advanced Financial Network.
HOME» NYSE » C » C Stock Price » C Stock News

Citigroup Share News

 Citigroup Stock Price
C Stock Price
 Citigroup Stock Chart
C Stock Chart
 Citigroup Stock News
C Stock News
 Citigroup Company Information
C Company Information
 Citigroup Stock Trades
C Stock Trades

Morgan Stanley Names Walker, Tracy to New Roles in Brokerage Venture -Memo

By Brett Philbin Morgan Stanley Smith Barney head of Investment Products and Services Andy Saperstein is putting his stamp on a recently reorganized business line, naming two veteran executives, Jim Walker and Jim Tracy, to new roles in the brokerage joint venture. In an internal memorandum to employees, Mr. Saperstein said Mr. Walker would become head of product strategy for Morgan Stanley Smith Barney, while Mr. Tracy will assume leadership of the brokerage's consulting group. The moves follow Saperstein's appointment to head the business--which married the firm's Investment Strategy & Client Solutions and MSSB Capital Markets--roughly two months ago. Previously, he was head of U.S. Wealth Management at Morgan Stanley Smith Barney. Morgan Stanley (MS) has a 51% controlling stake in the brokerage joint venture, while 49% is owned by Citigroup Inc. (C). Mr. Walker, a legacy Smith Barney executive and 27-year industry veteran, will be responsible for developing "product strategy" for the brokerage's investment products and services including private banking as well as coordinating marketing activities across those areas, the memo said. He reports to Mr. Saperstein and Shelley O'Connor, head of the firm's private banking group. Mr. Tracy, who also worked at Smith Barney prior to the joint venture, will lead a consulting group that will include Graystone Consulting, Financial Planning Solutions, the Wealth Planning Centers and the Family Director Program, according to the memo. The consulting group previously included Graystone Consulting, a unit within Morgan Stanley Smith Barney that caters to institutional investors and wealthy clients, but didn't include all of those businesses. The firm's rationale to expand the business is to link its wealth advisory services and the ability of its financial advisers to "serve high net worth households and institutional clients as comprehensively as possible," according to the memo. Morgan Stanley is in negotiations with Citi to purchase another 14% of the brokerage venture. The firm has an option to increase its stake in the business in increments between now and 2014. Last month, The Wall Street Journal reported the two banks had enlisted investment bank Perella Weinberg Partners to appraise the value of their brokerage joint venture, citing people familiar with the situation. Write to Brett Philbin at brett.philbin@dowjones.com Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stock News for Citigroup (C)
DateTimeHeadline
09/18/201419:55:36Senate Confirms Sheets as Treasury Under Secretary for International...
09/17/201420:43:11ASX Offers to Buy 49% Stake in Yieldbroker
09/16/201409:44:34U.S. Hot Stocks: Hot Stocks to Watch
09/16/201400:53:47Citigroup Releases Mid-Cycle 'Stress Test' Figures
09/12/201413:05:55Sterling Steady as Scottish 'No' Camp Regains Lead--Update
09/12/201407:13:56Sterling Steady as Scottish 'No' Camp Regains Lead
09/11/201419:00:08Treasury Monitoring Swaps Loopholes at U.S. Banks
09/10/201411:30:16Emerging-Market Currencies Slide on Fed Rate Jitters
09/09/201416:33:12Astenbeck Hedge Fund Cuts Back Bets, Boosts Cash -- Update
09/09/201401:57:21Amazon to Offer Fire Phone for 99 Cents
09/09/201401:57:04Pound Slumps on Scotland Poll -- 7th Update
09/09/201401:55:58Crude Prices Slide on Demand Worries
09/09/201401:50:34Crude Prices Fall on Demand Worries
09/09/201401:50:13Pound Slumps on Scotland Poll -- 6th Update
09/08/201421:35:36Pound Slumps on Scotland Poll -- 5th Update
09/08/201410:13:04Pound Slumps on Scotland Poll -- 4th Update
09/08/201406:52:34Pound Slumps on Scotland Poll -- 3rd Update
09/08/201405:46:30Pound Slumps on Scotland Poll -- 2nd Update
09/08/201405:22:25Pound Slumps on Scotland Poll -- Update
09/02/201404:40:07European Investors Eye Ukraine, ECB

Citigroup and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad