Morgan Stanley Smith Barney
Morgan Stanley Smith Barney is a joint venture between Morgan Stanley and Citigroup and is active in asset management.
In January 2009, Morgan Stanley's Global Wealth Management business was merged with Smith Barney , a subsidiary of Citigroup. Morgan Stanley holds 51% of this joint venture, Citigroup the rest. Smith Barney was previously part of Citigroup Global Capital Markets . Originally, the entire ran investment banking business of Citigroup under the name Salomon Smith Barney before this in Citigroup Global Capital Markets was renamed.
Smith Barney was founded in Philadelphia in the 19th century by Charles Barney and Edward B. Smith . The bank was gradually acquired by Primerica and then Traveler's Corp. (which merged with Citigroup in 1998 ). In 1997, Salomon Smith Barney was created from the merger of the brokerage house Smith Barney with the investment bank Salomon Inc; in 2000 the investment banking business was acquired by Schroders , until 2003 the European investment banking business ran under the name Schroder Salomon Smith Barney .