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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Cresset's Susie Cranston is expecting an economic recession, but says her $65 billion RIA sees "great opportunity" to keep investing in a down market.
“There’s a big pull to alternative investments right now because of volatility of the stock market,” Kevin Gannon, CEO of Robert A. Stanger & Co., said.
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