Citi, Morgan close brokerage deal

The Morgan Stanley Smith Barney joint venture launched a month ahead of schedule. As you know, it combines Citi's Smith Barney business in the U.S. and Australia, Citi's Quilter in the U.K. and Morgan Stanley's global wealth management unit. TheStreet.com notes the combined group will have roughly 18,500 advisors, 6.8 million client households globally and 1,000 brokerage locations. Not to mention $1.4 billion in pro forma revenue. Article