A conversion agreement with JV partner Mitsubishi UFJ (MTU +1.3%) has no effect on Morgan...

|By:, SA News Editor

A conversion agreement with JV partner Mitsubishi UFJ (MTU +1.3%) has no effect on Morgan Stanley's (MS +0.8%) schedule to buy the rest of Smith Barney, MS CEO James Gorman says. He denied reports that MS asked Smith Barney partner Citigroup (C -1%) to alter terms where MS can begin buying C out next year, despite a Tier 1 ratio boost coming from MTU's conversion.