Morgan Stanley Fires 200 as Smith Barney is Digested

Charlie Gasperino over at Fox Business is reporting that Wall Street giant Morgan Stanley (NYSE: MS) has burped up another 200 employees as the winning financial services firm continues to digest brokerage Smith Barney — which it bought from Citigroup (NYSE: C) in 2009.

When the firms are fully integrated next year, the combined brokerage unit, with 18,000 financial advisers, will be Wall Street largest ahead of the 15,000 at Bank of America Merrill Lynch (NYSE: BAC).

Natural selection continues on Wall Street.