Kevin Morano and Tom O’Brien, former co-heads of Morgan Stanley Smith Barney’s capital markets division, have set up a fixed income broker-dealer catering to the wealth management industry. The new firm, SumRidge Partners, focuses on market making in investment-grade corporate and municipal bonds, U.S. treasury and government agency securities.

The firm, which specializes in trades $1 million and under, aims to offer investment advisors, broker-dealers and all retail debt capital market participants with the proper tools to navigate the fixed income markets. SumRidge will offer an all-encompassing service where wealth-management professionals will find education, market commentary, portfolio review and construction and quality trade execution.

Click here for the release from Business Wire.