Morgan Stanley To Drop Smith Barney Name
Investment News has reported that the name Smith Barney is on its way out like some of its predecessors such as E.F. Hutton, Paine Webber and Dean Witter. Apparently Morgan Stanley Smith Barney, the nation's largest remaining brokerage firm, is canvassing clients about a new name for the firm. In Wall Street terms, the Smith Barney name has survived longer than most but the marketing chief of Legg Mason, Inc. said that "Morgan Stanley Smith Barney is a mouthful and it reeks of a transitional name" so "it's not surprising that they want to settle on a single name." Others suggest that Morgan Stanley should try and figure out a way to utilize one of the most recognized names on Wall Street.
Founded in 1938 as a result of the merger of long established Charles D. Barney & Company and Edward B. Smith & Company, the firm later became Smith Barney Harris Upham & Company, Inc in 1975 in the corporate empire of Sanford Weill. Through all of the mergers the name Smith Barney always remained.