Credit Suisse To Buy Morgan Stanley High-Net-Worth Unit

Law360, Los Angeles (March 27, 2013, 9:09 PM EDT) -- Zurich-based Credit Suisse Group AG has signed an agreement to acquire Morgan Stanley’s wealth management business in Europe, the Middle East and Africa for an undisclosed sum, the companies announced Wednesday.

Morgan Stanley’s EMEA PWM unit, based in the U.K., Italy and Dubai, has more than $13 billion in assets under management and serves predominately international “ultra high net worth” and high-net-worth clients across Europe.

Romeo Lacher, head of private banking for Western Europe at Credit Suisse, said the deal will accelerate the financial service provider’s...
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