Deals & People September 7, 2007

Morgan Names New Manager of Rocky Mountain District

Morgan Stanley announced Jack Mueller will join its Global Wealth Management Group (GWMG) as Rocky Mountain District Manager.
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Mueller will be based in Denver and will oversee Morgan Stanley’s 14 branch offices located throughout Utah, Colorado, Kansas, Iowa, Nebraska and parts of Missouri, the announcement said.

Mueller joined Morgan Stanley in 1989 and has held a succession of management positions, most recently as Managing Director and Head of North American Equity Research. He has also served as New York Regional Institutional Sales Manager, Head of Institutional Global Product Marketing, and Director of Research for European Equities.

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Prior to Morgan Stanley, Mueller worked at Smith Barney in New York as an institutional equity salesman.

With $728 billion in client assets, GWMG provides wealth management products and services to individuals, businesses and institutions, including brokerage and investment advisory services, financial and wealth planning, credit and lending, banking and cash management, annuities and insurance, retirement and trust.

Compliance September 6, 2007

Merrill Settlement Approved in Biased Research Reports Suits

A $125 million settlement between Merrill Lynch&Co. and investors over the company’s publishing of biased research got federal court approval on Wednesday, Reuters reported.
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The lawsuit said that Merrill Lynch and technology analyst Henry Blodget sent out said research during the dot-com boom to garner big investment bank contracts.

The lawsuits were only one of the cases against Merrill that charged such practices. The company agreed earlier this year to pay $39 million to settle three suits brought by mutual fund investors. According to Reuters, the first of the cases alleged misleading research was brought in 2001.

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The settlement approved Wednesday covered 23 more suits and amounted to $125 million, plus accrued interest. U.S. District Judge John Keenan awarded the investors lawyers fees amounting to 24% of the settlement fund, or nearly $32 million, as well as about $1.4 million in costs and expenses.

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