Morgan Stanley had more than $600 billion in assets under management in 2008. Photo: AFPWashington/New York: James Gorman would like his asset management division to join the $1 trillion club. After the financial crisis, Morgan Stanley sold its retail asset management business, which included Van Kampen Investments, acquired in 1996. Morgan Stanley has done smaller acquisitions, agreeing last year to acquire a credit-investing firm with more than $5 billion in assets. “Asset management is a series of many businesses, some in which scale matters a lot, some in which scale doesn’t matter at all.”Still, the firm’s asset management business has fallen short of growth goals before.

Source: Mint May 23, 2018 03:22 UTC