Mostly… fixed income and cross product eTrading

December 14, 2006

Focus On Strategic Clients?

Filed under: 2015 — holky @ 8:07 am

efn says Morgan Stanley has sold its “Quilter” business to focus on clients worth more than $10m (€7.5m)Quilter, a discrete unit within Morgan Stanley, looks after a number of clients at the lower end of the mass affluent high net worth market.

Being a discrete unit clearly makes it easier to pick up and sell, as opposed to just dropping a whole tier of customers into a void.  It also gets some cash in for the sale, which changes the dynamics a bit… But this is posted in the same vein as previous “banks getting choosy about their counterparts” post.

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1 Comment »

  1. Interesting, as some Banks focus more and more on Tier 1 institutions (derivatives plus low margin, high volume bonds) and others on the Private Bank/Wealth Management business (higher margin, lower volume) – and indeed some on both – where does this leave your middle tier investors in Fixed Income?

    Seems they are a bit unloved at the moment. They don’t have the sophistication of the big guys and lack the freedom of the HNWIs…..their business is quite vanilla & increasingly electronic service looks after them. Quite a challenge to survive in coming years unless they have a real alpha-generating niche.

    Comment by waratah — December 20, 2006 @ 10:01 am


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