The big switch has begun. Morgan Stanley recently brought the first 10% of Smith Barney customer accounts over from their digital homes on Citigroup information systems.

The 725,000 accounts were fed into a fundamentally new system that will serve the combined Morgan Stanley Smith Barney brokerage operation. The accounts were in place, and operating without interruption, when business opened in late February. The transition was so smooth that two bigger switches will now take place in May and July. In each of those moves, another 45%—or 3.2 million accounts—will come onto the Morgan Stanley Smith Barney platform.

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