Morgan Stanley also maintains additional insurance with an aggregate limit of $1 billion. Post was not sent - check your email addresses! Morgan Stanley shares climbed as much as 1.3 percent to $47.89 on the news. Do Not Sell My Personal Information, Your California Privacy Rights On October 7, 2020, the Company entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Morgan Stanley, a Delaware corporation (“Morgan Stanley”), Mirror Merger Sub 1, Inc., a Maryland corporation and wholly owned subsidiary of Morgan Stanley (“Merger Sub 1”), and Mirror Merger Sub 2, LLC, a Maryland limited liability company and a wholly owned subsidiary of Morgan … Morgan Stanley Acquires E*TRADE. “E*Trade has built a best-in-class, direct-to-consumer digital channel and a strong brand over the past 38 years,” Morgan Stanley chairman and CEO James Gorman said in a statement. Information regarding the directors and executive officers of E*TRADE is contained in E*TRADE’s Form 10-K for the year ended December 31, 2019 and its proxy statement filed with the SEC on March 26, 2019. Securities products and services are offered by E*TRADE Securities LLC (Member FINRA/SIPC). The finance giants sealed the deal two days after the Federal Reserve granted regulatory approval for the acquisition, which will expand Morgan Stanley’s wealth management franchise to oversee $3.3 trillion in assets. Hear their stories and learn about how they are redefining the terms of success. Our insightful research, advisory and investing capabilities give us unique and broad perspective on sustainability topics. Morgan Stanley’s full-service, advisor-driven model coupled with E*TRADE’s direct-to-consumer and digital capabilities, will allow the combined business to have best-in-class product and service offerings to support the full spectrum of wealth. Morgan Stanley officially acquires discount broker dealer E*TRADE Financial Corporation over a $13 billion all-stock deal. Morgan Stanley has received Federal Reserve approval for its acquisition of discount brokerage E*Trade Financial Corp., the U.S. central bank said in a statement on Wednesday. We look forward to welcoming the infusion of management and technology talent that E*TRADE will bring to Morgan Stanley.”, “Since we created the digital brokerage category nearly 40 years ago, E*TRADE has consistently disrupted the status quo and delivered cutting-edge tools and services to investors, traders, and stock plan administrators,” said Mike Pizzi, Chief Executive Officer of E*TRADE. We've received your submission. 2,351, © 2020 NYP Holdings, Inc. All Rights Reserved E*Trade board member Shelley B. Leibowitz has also joined Morgan Stanley’s board. The combination adds an iconic brand in the direct-to-consumer channel to our leading advisor-driven model, while also creating a premier Workplace Wealth provider for corporations and their employees. In connection with the proposed transaction Morgan Stanley and E*TRADE (“E*TRADE”), Morgan Stanley and E*TRADE will file relevant materials with the Securities and Exchange Commission (the “SEC”), including a Morgan Stanley registration statement on Form S-4 that will include a proxy statement of E*TRADE that also constitutes a prospectus of Morgan Stanley and a definitive proxy statement/prospectus will be mailed to stockholders of E*TRADE. The global presence that Morgan Stanley maintains is key to our clients' success, giving us keen insight across regions and markets, and allowing us to make a difference around the world. Morgan Stanley plans to release its third quarter earnings on Oct. 15. Do Not Sell My Personal Information. Morgan Stanley has closed its acquisition of discount brokerage E*Trade, the investment bank announced Friday. Under the terms of the agreement, E*TRADE stockholders will receive 1.0432 Morgan Stanley shares for each E*TRADE share, which represents per share consideration of $58.74 based on the closing price of Morgan Stanley common stock on February 19, 2020. The major Morgan Stanley (MS) and E*Trade (ETFC) Merger news updates & events are listed below.An invaluable data source for traders & investors looking to familiarize themselves with the Morgan Stanley (MS) merger with E*Trade (ETFC) and trade the merger arbitrage spread.Following the acquisition news and events section, there are in-depth company profiles. Sitemap She previously worked as the bank’s chief information officer and brings an extensive cybersecurity and technology background to the table. by Morgan Stanley and E•TRADE and provided to the government under an assurance of . As a global financial services firm, Morgan Stanley is committed to technological innovation. In addition, we will invite one of E*TRADE’s independent directors to join our Board. Whether it’s hardware, software or age-old businesses, everything today is ripe for disruption. On Friday, E*TRADE Financial (NASDAQ:ETFC) announced that its shareholders voted overwhelmingly to approve their company's merger with white-shoe financial services mainstay Morgan Stanley … The call and presentation will be available at www.morganstanley.com or by dialing 1-877-895-9527 (domestic) and 1-706-679-2291 (international); the passcode is 5097722. Our culture of access and inclusion has built our legacy and shapes our future, helping to strengthen our business and bring value to clients. ET, hosted by Morgan Stanley Chairman and CEO, James Gorman; Morgan Stanley CFO, Jonathan Pruzan; and E*TRADE CEO, Michael Pizzi. For further information about Morgan Stanley, please visit www.morganstanley.com. The acquisition of E*Trade by Morgan Stanley. This combination will enable Morgan Stanley to accelerate initiatives aimed at enhancing the workplace offering through online brokerage and digital banking capabilities, providing a significantly enhanced client experience. However, the settlement date of the corporate transaction is not certain yet. Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, wealth management and investment management services. E*TRADE has over 5.2 million client accounts with over $360 billion of retail client assets, adding to Morgan Stanley’s existing 3 million client relationships and $2.7 trillion of client assets. These risks, as well as other risks associated with the proposed acquisition, will be more fully discussed in the proxy statement/prospectus that will be included in the registration statement on Form S-4 that will be filed with the SEC in connection with the proposed acquisition. We value our commitment to diverse perspectives and a culture of inclusion across the firm. Investors and security holders may obtain free copies of the registration statement and the proxy statement/prospectus (when they become available), as well as other filings containing information about Morgan Stanley or E*TRADE, without charge at the SEC’s Internet website (https://www.sec.gov/) or by contacting the investor relations department of Morgan Stanley or E*TRADE at the following: Morgan Stanley, E*TRADE, their respective directors and certain of their respective executive officers may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction. Morgan Stanley is differentiated by the caliber of our diverse team. The Morgan Stanley acquisition of E*TRADE could have a significant impact on the advisory landscape; The merger is one of a series of recent mergers and … Morgan Stanley (NYSE: MS) announced today that it has completed the acquisition of E*TRADE Financial Corporation (E*TRADE) in an all-stock transaction. 6,590, This story has been shared 2,490 times. E*TRADE is a subsidiary of Morgan Stanley (acquired in October 2020), a respected brokerage in its own right. This communication is for informational purposes and is not intended to, and shall not, constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote of approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. NEW YORK/ARLINGTON - Morgan Stanley (NYSE: MS) and E*TRADE Financial Corporation (NASDAQ: ETFC) have entered into a definitive agreement under which Morgan Stanley will acquire E*TRADE, a leading financial services company and pioneer in the online brokerage industry, in an all-stock transaction valued at approximately $13 billion. For Morgan Stanley this transaction is a profitable investment in the future, thanks to which the bank can strengthen its position in the financial market. Yes, You Can Be a Tech Innovator at Morgan Stanley. E*TRADE’s hallmarked, consumer-facing technology platforms will complement Morgan Stanley’s leading advisor-facing technology. With offices in more than 41 countries, the Firm’s employees serve clients worldwide including corporations, governments, institutions and individuals. We provide comprehensive workplace financial solutions for organizations and their employees, combining personalized advice with modern technology. We offer scalable investment products, foster innovative solutions and provide actionable insights across sustainability issues. Mike will report to me and will join the Morgan Stanley Operating and Management Committees. We deliver active investment strategies across public and private markets and custom solutions to institutional and individual investors. Upon integration, the combined Wealth and Investment Management businesses will contribute approximately 57% of the Firm’s pre-tax profits, excluding potential synergies, compared to only approximately 26% in 2010. Terms of Use The company says the merger could lead … Consequences of material differences in results as compared with those anticipated in the forward-looking statements could include, among other things, business disruption, operational problems, financial loss, legal liability to third parties and similar risks, any of which could have a material adverse effect on Morgan Stanley’s or E*TRADE’s consolidated financial condition, results of operations, credit rating or liquidity. Morgan Stanley leadership is dedicated to conducting first-class business in a first-class way. Last week, the Federal Reserve gave its coveted regulatory nod after the long chase. No Offer or Solicitation A career at Morgan Stanley means belonging to an ideas-driven culture that embraces new perspectives to solve complex problems. Bringing E*TRADE’s brand and offerings under the Morgan Stanley umbrella creates a truly exciting wealth management value proposition and enables our collective team to serve a far wider spectrum of clients.”. Information regarding the directors and executive officers of Morgan Stanley is contained in Morgan Stanley’s Form 10-K for the year ended December 31, 2018 and its proxy statement filed with the SEC on April 5, 2019. E*Trade Shareholders Approve Morgan Stanley Takeover . Under SIPC, securities in your securities brokerage account(s) are protected up to $500,000 ($250,000 for cash claims). 2 CNBC. See how you can continue your career journey at Morgan Stanley. Stay abreast of the latest trends and developments. While previously the holding specialized exclusively in large customers with large capital, thanks to the merger with E*TRADE it will be able to cooperate with the average users of services. Privacy Notice Money Stuff: Morgan Stanley Trades Trading for E*Trade. Under the terms of the agreement, E*TRADE stockholders will receive 1.0432 Morgan Stanley shares for each E*TRADE share, which represents per share consideration of $58.74 based on the closing price of Morgan Stanley common stock on February 19, 2020. Progenics Pharmaceuticals enters into an amended and restated agreement with Lantheus Holdings. We anticipate offering a unified program in the future. Underpinning all that we do are five core values. Since our founding in 1935, Morgan Stanley has consistently delivered first-class business in a first-class way. 5 Tech Crunch. NEW YORK & ARLINGTON, Va.–(BUSINESS WIRE)–Morgan Stanley (NYSE: MS) announced today that it has completed the acquisition of E*TRADE Financial Corporation (E*TRADE) in an all-stock transaction. Morgan Stanley will maintain its strong capital position, with the Firm’s common equity tier 1 ratio estimated to increase by over 30bps at closing. Merger activity increased with five new deals announced. As of June 30, Morgan Stanley’s wealth unit had nearly $2.7 trillion of client assets, while E-Trade had $416.8 billion. The acquisition is subject to customary closing conditions, including regulatory approvals and approval by E*TRADE shareholders, and is expected to close in the fourth quarter of 2020. Managed Account Solutions are offered through E*TRADE Capital Management, LLC, a Registered Investment Adviser. We want to notify you about the merger between E*TRADE Financial Corporation (ETFC) and Morgan Stanley (MS) which is scheduled for completion on Monday (05/10/2020). E*TRADE Securities LLC clients will be covered under the Morgan Stanley excess of SIPC supplemental insurance policy. We will take some time to evaluate the many factors related to these sweep programs. The deal closed after a flurry of growth for E*Trade as locked-down investment novices took to trading stocks amid the pandemic. The combination will significantly increase the scale and breadth of Morgan Stanley’s Wealth Management franchise, and positions Morgan Stanley to be an industry leader in Wealth Management across all channels and wealth segments. At Morgan Stanley, we lead with exceptional ideas. (Jeff Chiu/AP) ... will stay on after the merger to helm E-Trade within the Morgan Stanley franchise. To access the presentation, please click here, For media inquiries, send an email to Media Inquiries. All such forward-looking statements are subject to risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed in such forward-looking statements. Mike will continue to run the E*TRADE business within the Morgan Stanley franchise and lead the ongoing integration effort. A conference call to discuss the announced transaction will be held today at 8:30 a.m. In addition, Morgan Stanley will have enhanced technology and service capabilities to capture a larger portion of the estimated approximate $7.3 trillion of combined current customer assets held away, which will drive significant revenue opportunities. E*TRADE common stockholders are entitled to receive 1.0432 Morgan Stanley common shares for each E*TRADE common share. To listen to the playback, please visit our website or dial: 1-855-859-2056 (domestic) or 1-404-537-3406 (international); the passcode is 8469949. Morgan Stanley has closed its acquisition of discount brokerage E*Trade, the investment bank announced Friday. E*TRADE’s products, innovation in technology, and established brand will help position Morgan Stanley as a top player across all three channels: Financial Advisory, Self-Directed, and Workplace,” said James Gorman, Chairman and CEO of Morgan Stanley. The all-stock deal — valued at $13 … Morgan Stanley is buying E-Trade in an all-stock deal valued at about $13 billion. Global institutions, leading hedge funds and industry innovators turn to Morgan Stanley for sales, trading and market-making services. BEFORE MAKING ANY VOTING OR INVESTMENT DECISION, INVESTORS AND SECURITY HOLDERS OF Morgan Stanley AND E*TRADE ARE URGED TO READ THE REGISTRATION STATEMENT, THE PROXY STATEMENT/PROSPECTUS AND ANY OTHER RELEVANT DOCUMENTS THAT ARE FILED OR WILL BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND RELATED MATTERS. Information regarding the directors and executive officers of Morgan Stanley and E*TRADE, and their direct or indirect interests in the transaction, by security holdings or otherwise will be set forth in the proxy statement/prospectus and other relevant matters when they are filed with the SEC. 2020-04-17T13:12:38+00:00 2020-04-17T13:12:38+00:00. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. From our origins as a small Wall Street partnership to becoming a global firm of more than 60,000 employees today, Morgan Stanley has been committed to clients and communities for 85 years. Morgan Stanley and E-Trade also said they were hopeful the merger would be approved by regulators and shareholders by the fourth quarter of the year. The transaction will create a leading player in Workplace Wealth, combining E*TRADE’s leading U.S. stock plan business with Shareworks by Morgan Stanley, a top provider of public stock plan administration and private cap table management solutions. © 2020 Morgan Stanley. “In addition, this continues the decade-long transition of our Firm to a more balance sheet light business mix, emphasizing more durable sources of revenue.”, “Finally, I am delighted that Mike Pizzi, CEO of E*TRADE, will be joining Morgan Stanley. E*TRADE also provides a full suite of digital banking services, including direct integration with brokerage accounts, checking and high-yield savings accounts, significantly accelerating Morgan Stanley’s digital banking efforts. Morgan Stanley helps people, institutions and governments raise, manage and distribute the capital they need to achieve their goals. Important Information about the Transaction and Where to Find It. Our board of directors and senior executives hold the belief that capital can and should benefit all of society. The transaction is expected to increase the Firm’s return on tangible common equity by more than 100bps with fully phased-in cost and funding synergies and improve Wealth Management’s pre-tax profit margin to over 30%. Additional information regarding the participants in the proxy solicitations and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the proxy statement/prospectus and other relevant materials filed with the SEC when they become available. Learn from our industry leaders about how to manage your wealth and help meet your personal financial goals. We help people, businesses and institutions build, preserve and manage wealth so they can pursue their financial goals. Discover who we are and the right opportunity for you. Morgan Stanley (NYSE: MS) announced today that it has completed the acquisition of E*TRADE Financial Corporation (E*TRADE) in an all-stock … E*Trade will continue to offer commission-free trades under its own brand, and CEO Michael Pizzi will continue to lead the platform as a Morgan Stanley employee. Morgan Stanley CEO James Gorman says that E-Trade’s direct-to-consumer channel was attractive to the bank. Your California Privacy Rights Everything we do at Morgan Stanley is guided by our five core values: Do the right thing, put clients first, lead with exceptional ideas, commit to diversity and inclusion, and give back. E*TRADE common stockholders are entitled to receive 1.0432 Morgan Stanley common shares for each E*TRADE common share. Is James Gorman of Morgan Stanley the next king of Wall Street? E*TRADE Financial and its subsidiaries provide financial services including brokerage and banking products and services to traders, investors, stock plan administrators and participants, and registered investment advisers (RIAs). We live that commitment through long-lasting partnerships, community-based delivery and engaging our best asset—Morgan Stanley employees. Morgan Stanley, with E-Trade deal, makes ‘land rush’ for mom-and-pop investors. Importantly, the acquisition marks a continuation of Morgan Stanley’s decade-long effort to rebalance the Firm’s portfolio of businesses so that a greater percentage of Firm revenues and income are derived from balance sheet light and more durable sources of revenues. At Morgan Stanley, giving back is a core value—a central part of our culture globally. E*TRADE common stockholders are entitled to receive 1.0432 Morgan Stanley common shares for each E*TRADE common share. Morgan Stanley announced the deal to … We have global expertise in market analysis and in advisory and capital-raising services for corporations, institutions and governments. Commodity futures and options on futures products and services are offered by E*TRADE Futures LLC (Member NFA). The all-stock deal — valued at $13 billion when it was announced in February — gives New York-based Morgan Stanley a new consumer-focused arm amid a boom in retail trading during the coronavirus pandemic. 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Shareholders from both companies will benefit from potential cost savings estimated at approximately $400 million from maximizing efficiencies of technology infrastructure, optimizing shared corporate services and combining the bank entities, as well as potential funding synergies of approximately $150 million from optimizing E*TRADE’s approximate $56 billion of deposits. Important risk factors that may cause such a difference include, but are not limited to, (i) the completion of the proposed transaction on anticipated terms and timing, including obtaining required stockholder and regulatory approvals, anticipated tax treatment, unforeseen liabilities, future capital expenditures, revenues, expenses, earnings, synergies, economic performance, indebtedness, financial condition, losses, future prospects, business and management strategies for the management, expansion and growth of the combined company’s operations and other conditions to the completion of the acquisition, including the possibility that any of the anticipated benefits of the proposed transaction will not be realized or will not be realized within the expected time period, (ii) the ability of Morgan Stanley and E*TRADE to integrate the business successfully and to achieve anticipated synergies, risks and costs, (iii) potential litigation relating to the proposed transaction that could be instituted against Morgan Stanley, E*TRADE or their respective directors, (iv) the risk that disruptions from the proposed transaction will harm Morgan Stanley’s and E*TRADE’s business, including current plans and operations, (v) the ability of Morgan Stanley or E*TRADE to retain and hire key personnel, (vi) potential adverse reactions or changes to business relationships resulting from the announcement or completion of the acquisition, (vii) continued availability of capital and financing and rating agency actions, (viii) legislative, regulatory and economic developments, (ix) potential business uncertainty, including changes to existing business relationships, during the pendency of the acquisition that could affect Morgan Stanley’s and/or E*TRADE’s financial performance, (x) certain restrictions during the pendency of the acquisition that may impact Morgan Stanley’s or E*TRADE’s ability to pursue certain business opportunities or strategic transactions, (xi) unpredictability and severity of catastrophic events, including, but not limited to, acts of terrorism or outbreak of war or hostilities, as well as management’s response to any of the aforementioned factors, (xii) dilution caused by Morgan Stanley’s issuance of additional shares of its common stock in connection with the proposed transaction, (xiii) the possibility that the transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events, (xiv) those risks described in Item 1A of Morgan Stanley’s most recently filed Annual Report on Form 10-K and subsequent reports on Forms 10‑Q and 8-K, (xv) those risks described in Item 1A of E*TRADE’s most recently filed Annual Report on Form 10-K and subsequent reports on Forms 10-Q and 8-K and (xvi) those risks that will be described in the proxy statement/prospectus on Form S-4 available from the sources indicated above. The E*Trade acquisition lets Morgan Stanley push further into the retail market, adding E*Trade’s $360 billion of client assets at year-end to Morgan Stanley’s $2.7 trillion. On Oct. 2, Morgan Stanley announced the completion of its acquisition of E-Trade, which is an online trading platform. Thanks for contacting us. Under the terms of the latest deal, Morgan Stanley will pay 1.0432 shares per E-Trade shares. Morgan Stanley is buying E-Trade for $13 billion. As MS is the acquirer, ETFC’s stocks will cease trading before the completion date. Worth $58.74 a share as of Wednesday's close, that dipped to 56.05 after Thursday's action. Forward-looking statements by their nature address matters that are, to different degrees, uncertain, such as statements about the consummation of the proposed transaction and the anticipated benefits thereof. Uber's logistics arm is now valued at over $3.3 billion, This story has been shared 6,590 times. Employee stock and student loan benefit plan solutions are offered by E*TRADE Financial Corporate Services, Inc. More information is available at https://us.etrade.com/. All rights reserved. 4 The Washington Post. The E-Trade merger might be good for the stock, but it's bad for traders. E-Trade has handled the rapid pullback into a bear market "brilliantly," Morgan Stanley's James Gorman said. Report: Department of Justice Approves Morgan Stanley Acquisition of E*Trade Financial The Department's green light is an important step toward the closing of the $13 billion deal. “By joining Morgan Stanley, we will be able to take our combined offering to the next level and deliver an even more comprehensive suite of wealth management capabilities. We offer timely, integrated analysis of companies, sectors, markets and economies, helping clients with their most critical decisions. See how you can make meaningful contributions as a student or recent graduate at Morgan Stanley. Sorry, your blog cannot share posts by email. From our startup lab to our cutting-edge research, we broaden access to capital for diverse entrepreneurs and spotlight their success. This came at the same time with another high-profile partnership with the Charles Schwab-TD Ameritrade deal. Morgan Stanley’s chief executive, James P. Gorman, said the merger would disrupt neither E-Trade clients nor Morgan Stanley customers, but ultimately result in more services for all. While the list of factors presented here is, and the list of factors to be presented in the registration statement on Form S-4 will be, considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. The Morgan Stanley and E*TRADE sweep programs have different eligibility criteria, sweep cash balances to different depository institutions, and offer differing amounts of FDIC insurance coverage. 3 Bloomberg. Gorman said release its third quarter earnings on Oct. 15 global institutions, leading hedge funds industry... S stocks will cease trading before the completion date help people, and... Discount brokerage E * TRADE Securities LLC ( Member FINRA/SIPC ) delivered first-class business in first-class. October 2020 ), a respected brokerage in its own right futures products and services are offered E! About how to manage your wealth and help meet your personal financial.! Business in a first-class way the capital they need to achieve their goals brings an cybersecurity. Over $ 3.3 billion, This story has been shared 2,490 times the merger to helm E-Trade within the Stanley... Stanley common shares for each E * TRADE futures LLC ( Member )... 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