NEW YORK - Kidder Peabody & Co. is entering the trust business, in hopes of competing with the trust operations of such Wall Street firms as Morgan Stanley and Goldman, Sachs.
Kidder named W. Ward Carey, formerly an executive vice president of Bessemer Trust, director-trust services. His goal is to attract brokerage clients of Kidder as well as institutional clients on the 401(k) and IRA/Keogh side of the business. "At the moment, it's a one-man show," Mr. Carey said, but he plans to add staff soon.
