Morgan Stanley and Citigroup have chosen investment bank Perella Weinberg Partners to appraise the value of their brokerage joint venture, according to people familiar with the venture.
The two companies, which currently own Morgan Stanley Smith Barney together, picked Perella Weinberg in recent days as they negotiate the price of a planned sale of part of the three year old brokerage company. Morgan Stanley currently owns 51% and Citigroup owns 49%.
