Morgan Stanley CEO James Gorman has just completed a pivot that began more than a decade ago. Morgan Stanley is acquiring investment manager Eaton Vance for $7 billion, Gorman is adding heft and scale to the smallest of the New York-based bank’s three main businesses: the manufacturer of mutual funds and other investments. It completes Morgan Stanley’s shift from being a firm dominated by traders and investment bankers to one where the more subdued and dependable management of money rules.

https://www.cnbc.com/2020/10/08/with-20-billion-in-deals-this-year-morgan-stanley-pivots-further-away-from-risky-wall-street.html