Friday, May 20, 2005

Still More Morgan Stanley Problems.

As if there isn't enough going on at Morgan Stanley, it now appears that they are having a serious problem with employee defections. According to the WSJ article, things have gotten so bat that Morgan Stanley is, or was, trying to get its traders to stop doing business with rivals who hire MS employees.

The "was" is in that sentence because apparently someone at Morgan Stanley woke up, remembered that they have an obligation to obtain the best prices and the best executions for their customers, and cutting off another brokerage firm to "punish" it for hiring employees could in fact impact your executions. - Morgan Stanley Plays Hardball With Rivals Poaching Its People
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