Business & Finance
Morgan Stanley Wealth Mgmt. Head on Vinyl Equity Deal
Key Points
Morgan Stanley is acquiring fintech company Vinyl Equity to add its digital, cloud-based transfer-agent technology to the firm’s workplace business. Jed Finn, Morgan Stanley’s Head of Wealth Management, said transfer agents maintain the official record of stock ownership, and argued that bringing the function in-house will reduce reliance on outside providers during companies’ transition from private to public ownership. He speaks with Vonnie Quinn & Scarlet Fu on "The Close."
Morgan Stanley is acquiring fintech company Vinyl Equity to add its digital, cloud-based transfer-agent technology to the firm’s workplace business. Jed Finn, Morgan Stanley’s Head of Wealth Management, said transfer agents maintain the official record of stock ownership, and argued that bringing the function in-house will reduce reliance on outside providers during companies’ transition from private to public ownership. He speaks with Vonnie Quinn & Scarlet Fu on "The Close." (Source: Bloomberg)