Former co-heads of Morgan Stanley Smith Barney's Capital Markets division, Kevin Morano and Tom O'Brien, have established SumRidge Partners, a new fixed income brokerage firm.
According SumRidge, the core business of the firm will be market making in investment-grade corporate and municipal bonds, US treasury and government agency securities. SumRidge specializes in trades $1m and under.
SumRidge said its vision is to provide investment advisors, broker-dealers, and all retail debt capital market participants with the proper tools to navigate the fixed income markets.
Morano and O’Brien were both members of Morgan Stanley Smith Barney’s management committee. In addition, Morano is a member of the Securities Industry and Financial Markets Association’s (SIFMA) Retail Fixed Income Committee and spent over 20 years at Morgan Stanley.
Tom spent 18 years at Morgan Stanley and has more than 20 years of experience in the industry. He also served as a member of the Firm’s Risk Committee.