Following the exodus of several big guns in wealth management over technology issues, Morgan...

|About: Morgan Stanley (MS)|By:, SA News Editor

Following the exodus of several big guns in wealth management over technology issues, Morgan Stanley (MS) plans to spend $500M over the next 18 months to beef up its systems, according to a company memo. About to gain another $140B in deposits when it acquires the rest of Smith Barney, expanding banking and lending capabilities will also be a priority.