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I'd be surprised if Morgan Stanley think of $10.4 million as anything more than a rounding error.

$10m here, $10m there, eventually you're talking about real money. ;)

Not really.

Do you have any information as to the breakdown of their advisory revenues vis-a-vis S&T?

Just because they may close a number of $10M deals doesn't mean that collection isn't still a drop in the bucket in the grand scheme.

Since you're making me look it up (and I thought the point of my comment went without saying), their full-year revenue last year was $23.4B.