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Deals & People January 6, 2011
Former Morgan Stanley Duo Start Fixed Income Firm
Former Co-Heads of Morgan Stanley Smith Barney’s Capital Markets Division, Kevin Morano and Tom O’Brien, have founded SumRidge Partners, LLC, a fixed income broker/dealer.
Reported by Nicole Bliman
In an announcement released this morning, SumRidge Partners core business will focus on Investment-Grade Corporate and Municipal Bonds, U.S. Treasury and Government Agency securities; the firm will specialize in trades of $1 million and under. The new firm hopes to “provide investment advisers, broker/dealers, and all retail debt capital market participants with the proper tools to navigate the fixed income markets.”
Morano and O’Brien were both members of Morgan Stanley Smith Barney’s Management Committee. In addition, Morano is a member of the Securities Industry and Financial Markets Association’s (SIFMA) Retail Fixed Income Committee and was at Morgan Stanley for more than 20 years. O’Brien spent 18 years at Morgan Stanley and has more than 20 years of experience in the industry. He also served as a member of the Firm’s Risk Committee.