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Morgan Stanley's big bet on winning over unicorn startup employees is starting to pay off

Posted On: Oct 18, 2019   |   Posted By: Business Insider

Morgan Stanley's big bet on winning over unicorn startup employees is starting to pay off

Morgan Stanley 's chief financial officer said Thursday that the firm's newly acquired Solium Capital - now known as Shareworks by Morgan Stanley - has won 265 corporate clients the deal closed in May.
Shareworks runs a platform for tracking a host of companies' employees' stock awards and options - typically enjoyed by many start-up employees who may eventually become full-fledged wealth management clients of Morgan Stanley financial advisers.
The Solium deal gives Morgan Stanley greater access to a younger client base, its CFO said.
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Morgan Stanley's largest acquisition since the financial crisis and a big bet on a younger generation is drawing in new clients, an indication the firm is continuing to double down on its boring, yet steady wealth management business.
The firm's chief financial officer, Jonathan Pruzan, said Thursday that the firm's newly acquired Solium Capital - now known as Shareworks by Morgan Stanley - has won 265 corporate clients since the $900 million...

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