{"id":27953,"date":"2013-03-28T08:20:08","date_gmt":"2013-03-28T07:20:08","guid":{"rendered":"http:\/\/beta.next-finance.net\/news\/credit-suisse-to-acquire-morgan-stanleys-private-wealth-management\/"},"modified":"2013-03-28T08:20:08","modified_gmt":"2013-03-28T07:20:08","slug":"credit-suisse-to-acquire-morgan-stanleys-private-wealth-management","status":"publish","type":"post","link":"http:\/\/beta.next-finance.net\/en\/news\/credit-suisse-to-acquire-morgan-stanleys-private-wealth-management\/","title":{"rendered":"Credit Suisse to Acquire Morgan Stanley\u2019s Private Wealth Management"},"content":{"rendered":"<p><strong>The businesses with a total of over USD 13 bn of assets under<br \/>\nmanagement are based in the UK, Italy and Dubai, serving predominantly international Ultra High Net Worth (UHNW) and High Net Worth (HNW) clients across Europe.<\/strong><\/p>\n<p>The transaction complements Credit Suisse\u2019s leading wealth management business in Europe and<br \/>\nreinforces the bank\u2019s focus on growing its UHNW and HNW client segments. The acquisition will add<br \/>\nscale to the bank\u2019s core growth markets in EMEA including the UK, Italy, Nordics, Russia and the Middle<br \/>\nEast. In the UK market, the acquisition will significantly increase Credit Suisse\u2019s client base, making the<br \/>\nbank a top ten player and leading wealth manager.<\/p>\n<p>The businesses acquired will be integrated into Credit Suisse\u2019s Private Banking &#038; Wealth Management<br \/>\ndivision. The acquisition will offer Morgan Stanley\u2019s private banking clients, relationship managers and<br \/>\nother employees an opportunity to benefit from a leading product platform and client offering, broad<br \/>\nexpertise and the highest quality standards of one of the world\u2019s longest established private banks.<\/p>\n<p>Romeo Lacher, Head of Private Banking for Western Europe at Credit Suisse, said: \u201cAccelerating our<br \/>\ngrowth momentum in our international markets and in our UHNW client segment remains a key priority for<br \/>\nCredit Suisse. Morgan Stanley has developed a strong foothold in wealth management over the past years<br \/>\nand its high quality client base and experienced employees perfectly complement our ambitions to grow<br \/>\nour share in these areas. We look forward to welcoming Morgan Stanley\u2019s clients and employees to Credit<br \/>\nSuisse and working with them to deliver a strong portfolio of products, services and expertise across our<br \/>\nprivate banking platform.\u201d<\/p>\n<p>Credit Suisse combines the strengths and expertise of its Private Banking &#038; Wealth Management,<br \/>\nincluding Asset Management services, and Investment Banking. The unique value proposition of Credit<br \/>\nSuisse\u2019s integrated banking services remains a key strength in its client offering. It enables the bank to<br \/>\noffer customized and innovative solutions to its clients, especially to UHNW clients, the fastest growing<br \/>\nsegment at Credit Suisse.<\/p>\n<p>The acquisition is structured as an asset purchase for the businesses involved. Subject to satisfying certain<br \/>\nclosing conditions, it is expected to close later this year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Credit Suisse today announced that it has signed an agreement to<br \/>\nacquire Morgan Stanley\u2019s wealth management businesses in Europe, Middle East and Africa (EMEA), excluding Switzerland. <\/p>\n","protected":false},"author":20,"featured_media":27951,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1470],"tags":[2045,1655,1888,1436,1651,1437,2042,2103],"_links":{"self":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts\/27953"}],"collection":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/users\/20"}],"replies":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/comments?post=27953"}],"version-history":[{"count":0,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts\/27953\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/media\/27951"}],"wp:attachment":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/media?parent=27953"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/categories?post=27953"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/tags?post=27953"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}