MSSB shifts Furber to internal referrals group

MSSB shifts Furber to internal referrals group
Morgan Stanley has moved Sara Furber to lead a group that refers clients to its investment banking, retail brokerage and asset management divisions.
JUN 08, 2011
Morgan Stanley, owner of the world's largest brokerage, moved Sara Furber to lead a group that refers clients to its investment banking, retail brokerage and asset management divisions. Furber, who was chief operating officer of the asset management unit's long-only funds business, will head the strategic lead management team in Morgan Stanley Smith Barney, according to an internal memo. Jim Wiggins, a spokesman for New York-based Morgan Stanley, confirmed the contents of the memo. Banks are trying to squeeze more sales from customers as analysts predict that revenue at the six largest U.S. lenders will fall in the current quarter, the fourth year-over-year decline in five quarters. Greg Fleming, who runs the asset management business, also took over as head of Morgan Stanley Smith Barney this year. “Senior management recognizes that the best source of new business often is existing clients,” Ben Huneke, MSSB's head of business management, and Edmond Moriarty, COO of Morgan Stanley Investment Management, said in the memo. Fleming last year hired Furber, his former Merrill Lynch & Co. colleague, as he revamped the asset management unit's leadership. Furber was COO for corporate and investment banking at Bank of America Corp.'s Merrill Lynch unit and previously was Merrill's head of investor relations, according to the memo. --Bloomberg News--

Latest News

Advisor moves: Atlas tops $1B as Wells Fargo, UBS add bank veterans
Advisor moves: Atlas tops $1B as Wells Fargo, UBS add bank veterans

Wells Fargo adds two bank-channel recruits, UBS lands a JPMorgan Chase veteran, and a multi-family office lifts Atlas past $1B

Advisor mom’s son used her password to log into clients’ accounts, sell deal with conflicts, according to Washington state
Advisor mom’s son used her password to log into clients’ accounts, sell deal with conflicts, according to Washington state

“The state comes down on you in years when you make 40% returns for clients,” said Bill Swayne, the advisor and son of Candace Swayne.

Osaic in talks with Anthropic as AI reshapes advisor workforce
Osaic in talks with Anthropic as AI reshapes advisor workforce

The Independent broker-dealer giant has had “active conversations” with the Claude maker, which is days away from its expected IPO

The retirement milestone advisors aren't tracking
The retirement milestone advisors aren't tracking

For Gen X clients entering life after work, answering the financial question isn't enough to solve the entire retirement equation.

Wealthtech firms target stock pay, pensions and heirs for advisors
Wealthtech firms target stock pay, pensions and heirs for advisors

Tools from Grantd, Income Lab and Healthspan Wealth aim to keep RIAs involved in clients’ biggest money decisions

SPONSORED Best Practices for Engaging Women Around Alternatives

Growing wealth, evolving priorities, and untapped opportunities are reshaping how women approach long-term investing.

SPONSORED Built on insurance experience to deliver on long-term promises

Knighthead Life entered the market with a competitive MYGA. A strong launch earned advisor confidence and paved the way for FIAs.