June 14, 2016
Completes Transfer of Morgan Stanley Client Custodial Accounts and Balances
By: Business Wire, Inc.
IRVINE, Calif. — Opus Bank (“Opus”) (NASDAQ: OPB) announced today that its wholly-owned subsidiary, PENSCO Trust Company (“PENSCO”), has completed the previously announced transition of approximately 5,800 Morgan Stanley Smith Barney LLC (“Morgan Stanley”) (NYSE: MS) client individual retirement accounts, qualified plans, and other self-directed custodial accounts that are invested in alternative assets, which client accounts comprise approximately $1 billion in assets under custody. The addition of these accounts and assets under custody increases PENSCO’s $10.9 billion of assets under custody and approximately 43,000 clients to approximately $12 billion of assets under custody and over 48,000 clients.