Excerpts: “Morgan Stanley Gains E-Trade’s Individual Investors As Wall St. Traders Lose Mojo”
- The E-Trade deal comes on the heels of another major acquisition in the brokerage space. Last November, larger brokerage rivals Charles Schwab (SCHW) and TD Ameritrade (AMTD) agreed to merge in a $26 billion, all-stock deal.
- The combined company will have $3.1 trillion in client assets, 8.2 million retail client relationships and accounts, and 4.6 million stock plan participants, according to Morgan Stanley.
Source: Investors Business Daily