Spin-Off City: Morgan Stanley May Make Prop. Desk A Hedge Fund

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.


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