Wall Street, searching for a fresh burst of growth, is going all-in on Main Street.
The latest effort on this front came this past week when Morgan Stanley (ticker: MS) unveiled a $13 billion all-stock deal to buy E*Trade Financial (ETFC), signaling that the elite Wall Street bank will compete aggressively for retail banking and brokerage customers. The combined entity will have revenue of $44 billion, eight million customer accounts, and $3.1 trillion of client assets.
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February 22, 2020 at 09:29AM
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What the Morgan Stanley-E*Trade Deal Means for Schwab, Fidelity, and Other Big Banks - Barron's
"street" - Google News
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