Sunday, 2 August 2015
Last updated 1 day ago
Aug 6 2010 | 11:20am ET
Morgan Stanley, which is currently working to spin-off its FrontPoint Partners hedge fund, could be mulling a second hedge fund spin-off.
The firm is pondering its options for a proprietary trading desk called Process Driven Trading, The Wall Street Journal reports. The newly-enacted Dodd-Frank financial regulation reform law bars banks from prop. trading.
Among the possibilities are a spin-off of PDT, which is headed by Peter Muller. Morgan Stanley may also move the desk to its investment management business, where it would also begin accepting outside investment.
A decision on PDT is expected within the next few months, the Journal reports. The desk has earned Morgan Stanley billions of dollars since its creation in 1993.
May 27 2015 | 2:15pm ET
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