Registered: Jan 2006
08-31-12 06:55 PM
The MS ship is sinking fast....more staff heading to the life boats.
Exclusive: Morgan Stanley Smith Barney rainmakers consider exit
NEW YORK (Reuters) - Several dozen Morgan Stanley Smith Barney advisers who manage tens of billions of dollars of client money are considering leaving the firm, saying that widespread technology problems have made it very difficult for them to do their jobs, according to people familiar with the matter.
The group has hired a lawyer to argue that they should be able to keep lucrative retention payments even if they quit, and they have also drafted a letter to Morgan Stanley CEO James Gorman outlining their concerns, though the letter has not yet been sent, the sources said.
Rebecca Rothstein, one of the firm's top advisers based in Beverly Hills, spoke to him on the group's behalf, two sources familiar with the conversation said................