Morgan Stanley Buying Eaton Vance for About $7 Billion

The transcript discusses Morgan Stanley's strategic moves under CEO James Gorman, including acquisitions and focus on asset management. It highlights the acquisition of Boston Mutual Fund Industry and the emphasis on fixed income and private markets. Gorman's vision for Morgan Stanley's future growth and transformation into a larger financial entity is also explored.

What are the implications of Morgan Stanley's focus on fixed income and private markets following the acquisition?

In what ways does the acquisition reflect Morgan Stanley's strategy to compete with firms like Goldman Sachs?