Morgan Stanley subsidiary NYT crossword
The Correct Answer and Explanation is :
The answer to the crossword clue “Morgan Stanley subsidiary” is “ETRADE.” Morgan Stanley acquired E*TRADE, a prominent online brokerage firm, in 2020.
Explanation:
Morgan Stanley, a leading global financial services firm, expanded its retail brokerage services by acquiring ETRADE in 2020. This strategic move allowed Morgan Stanley to enhance its digital offerings and reach a broader client base. ETRADE, founded in 1982, is renowned for its online trading platform, providing services such as stock and options trading, retirement planning, and investment advice.
The acquisition was valued at approximately $13 billion and was completed in October 2020. This merger combined Morgan Stanley’s wealth management expertise with ETRADE’s digital capabilities, aiming to create a comprehensive platform for investors. The integration of ETRADE into Morgan Stanley’s operations has allowed the firm to offer a more diverse range of financial services, catering to both traditional and digital investors.
In crossword puzzles, such as those in The New York Times, clues referencing Morgan Stanley’s subsidiary often point to “ETRADE.” This is because the acquisition has been a significant event in the financial industry, making it a relevant and recognizable answer for crossword enthusiasts.
For instance, a crossword clue like “Morgan Stanley subsidiary” would lead to “ETRADE” as the solution. This reflects the widespread recognition of the acquisition and its impact on the financial services sector.
In summary, “ETRADE” is the correct answer to the crossword clue “Morgan Stanley subsidiary,” reflecting the firm’s strategic acquisition of the online brokerage to enhance its digital financial services.