Morgan Stanley Cuts Number of RegionsPosted by in Blog on December 15, 2011
Morgan Stanley Smith Barney is cutting some of its regions, OnWallStreet.com reports. In an effort to streamline its business, the financial firm is going from 19 regions to 16, according to an internal memo.
Morgan Stanley’s Soundview region, which combines parts of Long Island and New York, is no more. The Long Island and Purchase locations are now considered to be part of the New York metro region, while the Connecticut offices are now part of Morgan Stanley’s New England region.
In addition, the North and South Florida complexes are being combined as one Florida region. And the Southeast region is now part of the Southern region.
This restructuring means that the four regional leaders whose territories were combined into other regions will be assigned to other positions within Morgan Stanley. There is no word at this time as to what their new jobs might be.
Written by Lisa Swan