Morgan Stanley is looking to add employees of startup companies as wealth management clients as U.S. investment banks prepare for a revival of initial public offerings. Last week, the bank signed an agreement with Carta, a shareholder management company for startups backed by private equity and venture capital firms. Carta estimates about 2,000 of its 40,000 clients are headed toward an IPO.
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Morgan Stanley courts employees of near-IPO companies for wealth management
"Participants within these companies will need not just equity administration, but all the advice, guidance and financial planning that comes with a significant liquidity event," Jed Finn, head of Morgan Stanley Wealth Management, said in a statement.
