find the latest legal job
Corporate Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Highly-respected, innovative and entrepreneurial Not-for-Profit · Competency based Board
View details
Chief Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Dynamic, high growth organisation · ASX listed market leader
View details
In-house Projects Lawyer | Renewables / Solar | 2-5 Years PQE
Category: Generalists - In House | Location: All Australia
· Help design the future · NASDAQ Listed
View details
Insurance Lawyer (3-5 PAE)
Category: Insurance and Superannuation Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Dynamic organisation ·
View details
Legal Counsel
Category: Corporate and Commercial Law | Location: North Sydney NSW 2060
· 18 month fixed term contract · 3-5 years PQE with TMT exposure
View details
Citi joint venture with Morgan Stanley

Citi joint venture with Morgan Stanley

Mallesons Stephen Jaques and Freehills have on the advised $US2.7 billion ($3.4 billion) Citi-Morgan Stanley global joint venture with, which was completed on 1 June. The joint venture merged…

Mallesons Stephen Jaques and Freehills have on the advised $US2.7 billion ($3.4 billion) Citi-Morgan Stanley global joint venture with, which was completed on 1 June.

The joint venture merged the two companies' retail broking businesses in the US, Europe and Australasia to form Morgan Stanley Smith Barney.

According to Mallesons partner Joshua Cole, who acted for Citi, these types of deals, involving the co-ordination of legal teams across a number of jurisdictions, are becoming more common in the current environment.

"The GFC has given rise to a number of global transactions which require the crafting of some complex arrangements in very tight timeframes and this one was no exception," Cole said.

Freehills partner Fiona Gardiner-Hill concurred: "The unusual and complex nature of many aspects of the transaction, and the comparative speed with which the deal was implemented, made the work both interesting and challenging."

The joint venture operation in Australia means that the former business of Citi Smith Barney Pty Ltd will now operate under the name Morgan Stanley Smith Barney Australia Pty Ltd.

Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

Citi joint venture with Morgan Stanley
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Applauds
07:00
LCA applauds proposed Modern Slavery Act
The Law Council of Australia has welcomed new recommendations for the development of a Modern Slaver...
Mentoring
07:00
Top-tier offers targeted mentoring for Indigenous law students
Students at Macquarie University will be the first to benefit from a new Indigenous mentoring progra...
LCA president Fiona McLeod SC
Aug 17 2017
Where social fault lines meet the justice gap in Aus
After just returning from a tour of the Northern Territory, LCA president Fiona McLeod SC speaks wit...
APPOINTMENTS
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
opinion
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
Help
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...