Michael Sean Cain had been managing the city investment portfolio. At the Aug. 14 meeting, the city commission approved transferring $5 million to Morgan Stanley Smith Barney to be managed by Cain.
City Manager Kenny Smith said the city has a new agent now.
“Our money is with Morgan Stanley Smith Barney, he doesn’t have any of it,” Smith said.
(For the complete story, see tomorrow's print edition.)
Post a Comment