Morgan Stanley has completed its $7 billion acquisition of Eaton Vance in a transaction in which the fund firm’s shareholders could receive shares or cash.
The acquisition “further advances our strategic transformation by continuing to add more fee-based revenues,” James P. Gorman, chairman and CEO of Morgan Stanley, said in a release.
Thomas E. Faust, Jr., chairman and CEO of Eaton Vance, has become chairman of Morgan Stanley Investment Management and will join the parent firm’s management committee.
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Pro-bitcoin professionals, however, say the cryptocurrency has ushered in change.
“LPL has evolved significantly over the last decade and still wants to scale up,” says one industry executive.
Survey findings from the Nationwide Retirement Institute offers pearls of planning wisdom from 60- to 65-year-olds, as well as insights into concerns.
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