Morgan Stanley Completes Acquisition of Solium, Creating a Leading Provider of Stock Plan Administration & Financial Solution...
May 01 2019 - 9:15AM
Business Wire
Premier Equity Management Offering to be Named Shareworks by
Morgan Stanley, Bolstering a New Morgan Stanley at Work
Offering
Morgan Stanley (NYSE:MS) has completed the acquisition of Solium
Capital Inc. (TSX: SUM) (“Solium”), a leading global provider of
software-as-a-service (SaaS) for equity administration, financial
reporting and compliance. With this acquisition, Morgan Stanley is
positioned to be an industry leader in providing financial
solutions to the workplace, bringing together a major stock plan
administration platform with its preeminent Wealth Management
business.
The Solium business will be re-branded Shareworks by Morgan
Stanley. It will be part of a new Morgan Stanley at Work suite of
financial solutions which will also include Retirement and
Financial Wellness. Morgan Stanley at Work will combine
cutting-edge planning and risk management software, Morgan Stanley
intellectual capital and financial education delivered through
multiple channels to enable employees to build a holistic plan to
achieve their financial goals.
“The closing of this transaction represents an important
milestone in our workplace strategy,” said Andy Saperstein, Head of
Wealth Management. “Since we announced the Solium acquisition in
February, there has been a significant level of interest in the new
offering from corporations and institutions and we are winning
competitive new mandates at an accelerated pace.”
Jed Finn, Head of Corporate & Institutional Solutions and
COO of Wealth Management added: “Employers are looking for both
flawless execution in the administration of their stock plan and
value-added financial education and digital tools to help their
employees with saving and investing. Morgan Stanley at Work can
deliver against both of those needs, with a comprehensive suite of
services.”
Marcos Lopez, formerly CEO of Solium, will continue to play a
key role as Head of Shareworks by Morgan Stanley reporting to Brian
McDonald, Head of Morgan Stanley at Work.
On a combined basis, Shareworks by Morgan Stanley will service
more than 3,300 stock plan clients with 2.5 million participants,
including Instacart, Levi Strauss, Shopify and Stripe and a range
of fast growing private companies, as well as newly public
companies and a quarter of the Fortune 500.
Access to the combined participant base through industry-leading
software is expected to enhance Morgan Stanley’s client
acquisition efforts in a manner that complements its Financial
Advisor channel, which constitutes the core of Morgan Stanley’s
strategy. As plan participants build their wealth, and their needs
become more complex, there is a natural transition to an
Advisor-based relationship. Younger plan participants in the
earlier stages of their careers can elect to be served by the
Morgan Stanley Access Investing and Morgan Stanley Virtual advisor
channels.
Morgan Stanley is a leading global financial services firm
providing investment banking, securities, investment management and
wealth management services. With offices in more than 41 countries,
the Firm's employees serve clients worldwide including
corporations, governments, institutions and individuals. For more
information about Morgan Stanley, please visit
www.morganstanley.com.
Morgan Stanley at Work and Shareworks by Morgan Stanley are
service marks of Morgan Stanley or its affiliates.
This press release may contain forward-looking statements,
including the attainment of certain financial and other targets,
objectives and goals. Readers are cautioned not to place undue
reliance on forward-looking statements, which speak only as of the
date on which they are made, which reflect management’s current
estimates, projections, expectations, assumptions, interpretations
or beliefs and which are subject to risks and uncertainties that
may cause actual results to differ materially. For a discussion of
risks and uncertainties that may affect the future results of the
Firm, please see “Forward-Looking Statements” immediately preceding
Part I, Item 1, “Competition” and “Supervision and Regulation” in
Part I, Item 1, “Risk Factors” in Part I, Item 1A, “Legal
Proceedings” in Part I, Item 3, “Management’s Discussion and
Analysis of Financial Condition and Results of Operations” in Part
II, Item 7 and “Quantitative and Qualitative Disclosures about
Market Risk” in Part II, Item 7A in the Firm’s Annual Report on
Form 10-K for the year ended December 31, 2017 and other items
throughout the Form 10-K, the Firm’s Quarterly Reports on Form 10-Q
and the Firm’s Current Reports on Form 8-K, including any
amendments thereto.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190501005606/en/
Susan Siering, 212.761.6030
Morgan Stanley (NYSE:MS)
Historical Stock Chart
From Aug 2024 to Sep 2024
Morgan Stanley (NYSE:MS)
Historical Stock Chart
From Sep 2023 to Sep 2024