Home
Fintech
Morgan Stanley Buys E*Trade for $13 Billion

Morgan Stanley Buys E*Trade for $13 Billion

·
FintechNews RoundupUSA
··1 min read

According to the Wall Street Journal, E*Trade has five million retail customers including $360 billion in assets; Morgan Stanley will also have access to the deposit base, allowing them to make loans; E*Trade will keep its brand and their retail storefronts; two of E*Trade’s competitors, Charles Schwab and TD Ameritrade recently announced their own merger which raised questions on whether E*Trade could survive over the long term; James Gorman, Morgan Stanley CEO stated, “We’ll take on Schwab. We’ll take on Fidelity…This isn’t about legacy-building; it’s about getting ready for prime time.” Morgan Stanley has recently been focusing on less wealthy retail clients and E*Trade will become a part of this unit which will total eight million users and $3.1 trillion in client money. The Wall Street Journal

  • Emily Donato

    With efforts in many different areas of the team, she helps manage, organize and execute digital and event content. She works with webinars, podcasts, social media along with managing the hundreds of speakers that attend our conferences. Emily was a part of the Zimmerman Advertising Program at the University of South Florida. She graduated in 2019 receiving a Bachelor of Science in Business Advertising.

    View all posts