Last updated: 14:46 / Wednesday, 30 April 2014
To Bank J. Safra Sarasin

Morgan Stanley Announces Sale of Swiss Private Banking Business

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Morgan Stanley Announces Sale of Swiss Private Banking Business
  • The sale is the result of a strategic review of the Firm’s Swiss private banking business, which includes offices in Zurich and Geneva
  • The business that will be included in the transaction is focused on UHNW clients in EMEA and Latin America
  • Morgan Stanley’s Asian wealth management business is not included in the transaction

Morgan Stanley has announced that it has reached agreement to sell its private banking business in Switzerland to Bank J. Safra Sarasin, which is part of the international banking group J. Safra Sarasin Group. Terms of the transaction were not disclosed.

The sale is the result of a strategic review of the Firm’s Swiss private banking business, which includes offices in Zurich and Geneva. The business that will be included in the transaction is focused on Ultra High Net Worth (UHNW) clients in Europe, Middle East & Africa (EMEA) and Latin America.

Morgan Stanley’s Asian wealth management business, conducted through the Swiss bank’s branches in Hong Kong and Singapore, is not included in the transaction and will be extracted out within the Morgan Stanley Asia group before the execution of the Swiss transaction commences.

Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm's employees serve clients worldwide including corporations, governments, institutions and individuals from more than 1,200 offices in 43 countries.

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