Pursuits
Gorman Call to Pandit Said to Spark Overnight Smith Barney Deal
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Morgan Stanley and Citigroup Inc. executives held unsuccessful talks since August in a final push to settle a dispute over the value of their jointly owned brokerage, people with direct knowledge of the matter said.
An independent appraiser’s report, delivered late on Sept. 10, and a phone call from Morgan Stanley Chief Executive Officer James Gorman to Citigroup CEO Vikram Pandit helped settle the matter within hours.