Morgan Stanley Shutters Chicago Prime Brokerage Biz

Feb 23 2009 | 12:56pm ET

Morgan Stanley has closed its Chicago-based prime brokerage unit, laying off some staff while offering others jobs in its New York offices, FINalternatives has learned.

Jeff Knupp, who ran the Chicago prime brokerage, declined the chance to move to New York with many of his team, a source told FINalternatives. It is not known how many of the other staffers accepted the Big Apple offer.

However, another source with knowledge of the situation said that Morgan is keeping its capital introduction unit up and running in the Chicago office.  

Morgan Stanley did not return calls before press time.


In Depth

Bob Doll's Ten Market Predictions For 2016

Jan 7 2016 | 9:37pm ET

Well-known market strategist Robert Doll has published his annual list of ten predictions...

Lifestyle

Citadel's Ken Griffin Donates $40M To New York's Museum of Modern Art

Dec 22 2015 | 9:23pm ET

Citadel founder Ken Griffin has donated $40 million to New York’s Museum of Modern...

Guest Contributor

Hedge Fund Marketing - Making the Most of Your Salesperson

Jan 20 2016 | 8:11pm ET

In this contributed article, Bruce Frumerman of Frumerman & Nemeth takes a close...