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Former Morgan Stanley Vets Launch Fixed Income Shop
Wendy Connett
7 January 2011
Former co-heads of
Morgan Stanley Smith Barney’s capital
markets division, Kevin Morano and Tom O’Brien, have launched
SumRidge
Partners, a fixed income broker-dealer catering to the wealth management
industry. The Jersey City-based firm’s core business is market making
in investment grade corporate and municipal bonds, US Treasury and government
agency securities. It specializes in trades $1 million and under. Morano and O’Brien were both members of Morgan Stanley Smith
Barney’s management committee. Morano spent more than 20 years at Morgan
Stanley and O’Brien 18 years. SumRidge said it aims to provide wealth-management
professionals with education, market commentary, portfolio review and
construction and trade execution.