Morgan Stanley Smith Barney Announces Expanded Focus On Ultra Wealthy Clients

Morgan Stanley Private Wealth Management, including former Citi Family Office, to Serve Ultra High Net Worth Individuals and Their Families

Following the successful launch of its joint venture, Morgan Stanley Smith Barney today announced it will look to grow its advisor population that focuses on ultra-high net worth clients through a dedicated effort branded under the Morgan Stanley Private Wealth Management name.

“The combination of Morgan Stanley’s well established Private Wealth Management division and Smith Barney’s leading Citi Family Office capabilities creates a strong platform for individuals and families of significant means. These clients have highly specialized wealth management and private banking requirements which we are uniquely positioned to fulfill,” said James Gorman, Co-President of Morgan Stanley and Chairman of Morgan Stanley Smith Barney.

Led by Michael Armstrong, Managing Director, Morgan Stanley Private Wealth Management will bring together approximately 500 highly trained private wealth advisors who will deliver a unique range of wealth management, asset management, private banking, capital markets and investment banking services to ultra-wealthy individuals and families in the United States, Latin America, Europe, Middle East and Africa, and Asia.

“Both firms have been committed to providing a differentiated client experience, superior market intelligence and access to innovative solutions from leading investment specialists from around the world. Our new, enlarged organization will give us even more resources that we can bring to bear as strategic partners for our clients,” Mr. Armstrong said.

Morgan Stanley Smith Barney President and COO Charlie Johnston added, “Since we announced the Morgan Stanley Smith Barney joint venture, we have been excited about the breadth and depth of the relationships, professional expertise and sophisticated offerings of the two organizations, and our ability to be the one-stop source of solutions for ultra-high net worth individuals and their families.”

In the United States, Michael Armstrong will partner closely with Andy Saperstein, Managing Director and head of Morgan Stanley Smith Barney’s broader wealth management business in the U.S., to deliver a superior service offering to the ultra-high net worth marketplace. “By strengthening the partnership between Morgan Stanley Private Wealth Management and Morgan Stanley Smith Barney’s Financial Advisors, we will present an exceptional value proposition to our wealthiest clients,” Mr. Saperstein said.

Morgan Stanley Smith Barney, a global leader in wealth management, provides access to a wide range of products and services to individuals, businesses and institutions, including brokerage and investment advisory services, financial and wealth planning, credit and lending, cash management, annuities and insurance, retirement and trust services.

Morgan Stanley Private Wealth Management, a division of Morgan Stanley Smith Barney LLC, provides a range of investment and private banking services to ultra-high net worth individuals, families and related institutions in the United States, Latin America, Europe, the Middle East and Asia.

Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm’s employees serve clients worldwide including corporations, governments, institutions and individuals from more than 1,200 offices in 36 countries. For further information about Morgan Stanley, please visit www.morganstanley.com.

Investments and services offered through Morgan Stanley Private Wealth Management, a division of Morgan Stanley Smith Barney, member SIPC.

MORGAN STANLEY PRIVATE WEALTH MANAGEMENT
Facts-at-a-Glance

* Established in 1977 to serve clients of Morgan Stanley’s leading investment banking and institutional securities franchise. Augmented in 2009, through the contribution of Smith Barney’s Citi Family Office (CFO) Resources
* Private Wealth Advisors: Approximately 500 globally
* Target clients: Generally those with a minimum net worth of US $20 million
* Offices: 25 offices in major cities worldwide, serving clients in the United States, Latin America, Europe, Asia, and the Middle East/Africa
* Services: Customized wealth management, including investment advice, research and execution, structured solutions, asset management, strategic asset allocation and performance reporting; family office services, including estate planning, family governance, expense management, concierge, art advisory and philanthropic/foundation services; private banking, including tailored lending; investment banking and capital markets services, in partnership with Morgan Stanley’s Institutional Securities Group and Citi.