Morgan Stanley's Megamerger: They Said It Would Never Work
If you want to know how the Morgan Stanley Dean Witter merger is working, just ask Ira Walker, a veteran Dean Witter broker. Since the May, 1997, deal, Walker has seen his business almost double. True, half of that is because of the bull market, he estimates. But he says the other half is from the merger. Simply put, Walker has more and better merchandise to sell. For starters, he has Morgan Stanley's fat book of initial public and secondary stock offerings. He also has Morgan Stanley mutual funds to sell in addition to those of Dean Witter and other companies.
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