Morgan Stanley Closes Acquisition of E*TRADE
NEW YORK & ARLINGTON –
Morgan Stanley (NYSE: MS) launched this day that it has finished the acquisition of E*TRADE Monetary Corporation (E*TRADE) in an all-inventory transaction. E*TRADE standard stockholders are entitled to receive 1.0432 Morgan Stanley standard shares for every E*TRADE standard share.
“The addition of E*TRADE positions us as an exchange leader in Wealth Administration all over all channels and segments, and severely will increase the scale and breadth of our Wealth Administration franchise, which now oversees $3.3 trillion in property,” acknowledged James P. Gorman, Chairman and Chief Executive Officer of Morgan Stanley. “E*TRADE has built a easiest-in-class, declare-to-user digital channel and a convincing stamp over the past 38 years. The addition of their premier providing will provide enhanced capabilities to all our purchasers and Monetary Advisors.”
Michael Pizzi, CEO of E*TRADE, joins Morgan Stanley and can lead E*TRADE’s declare-to-user, digital self-directed exchange that can operate below the E*TRADE stamp, and can co-lead the equity administration exchange. He moreover joins the Morgan Stanley Operating and Administration Committees.
Apart from, this day Shelley Leibowitz, one among E*TRADE’s just directors, has joined the Morgan Stanley Board of Directors. “Ms. Leibowitz brings a wealth of enterprise expertise and administration expertise. We welcome her to the Board and gaze forward to working alongside with her,” acknowledged Ray Wilkins, Chair of the Board’s Nominating and Governance Committee.
Morgan Stanley is a number one global financial companies and products firm providing funding banking, securities, wealth administration and funding administration companies and products. With workplaces in extra than 41 worldwide locations, the Firm’s workers encourage purchasers worldwide including corporations, governments, institutions and other people. For more data about Morgan Stanley, please breeze to www.morganstanley.com.
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Masks to Editors:
Shelley B. Leibowitz
Shelley B. Leibowitz became as soon as on the Board of Directors at E*TRADE from December 2014 to September 2020.
Ms. Leibowitz is President of SL Advisory, a firm she founded in 2016 that makes a speciality of expertise intention, digital transformation, IT portfolio and possibility administration, data security, performance metrics, and governance. From 2009 by 2012, Ms. Leibowitz served as Neighborhood Chief Files Officer for the World Monetary institution, the effect she became as soon as accountable for the expertise companies and products and capabilities that underlie the work of delivering quality data and financing merchandise to the Monetary institution Neighborhood’s purchasers all around the globe. Ms. Leibowitz managed the Monetary institution Neighborhood’s cybersecurity program and served as a member of the Monetary institution Neighborhood’s Pension Funding Committee. Previously, Ms. Leibowitz held Chief Files Officer positions at Morgan Stanley, Greenwich Capital Markets and Barclays Capital.
In prior years, Ms. Leibowitz served on the board of Endgame, main provider of cybersecurity capabilities to the U.S. intelligence and defense communities, obtained by Elastic NV in 2019, and on the board of Alliance Bernstein Maintaining LP, the effect she served on the Audit and Possibility Committee. Ms. Leibowitz is for the time being on the board of directors of Massachusetts Mutual Lifestyles Insurance coverage Company, the effect she serves on the Funding Committee and the Expertise & Governance Committee. She is moreover a member of the Council on International Relatives and on the Visiting Committee of the Middle for Model Economics at Williams College. Ms. Leibowitz is a Board Leadership Fellow on the Nationwide Affiliation of Corporate Directors, the effect she is a frequent speaker and has finished Directorship Certification and the CERT Certificate in Cybersecurity Oversight.
Ms. Leibowitz graduated Phi Beta Kappa from Williams College with a BA in Mathematics.