Morgan Stanley Smith Barney today announced that it has reached an agreement to sell Quilter, its retail wealth management business in the UK, to Bridgepoint. The transaction, which is subject to regulatory approvals, is expected to close during the first quarter 2012. Terms of the transaction were not disclosed.
“This sale reflects our determination to intensify our wealth management focus on our core businesses, including the ultra high net worth market segment in Europe, Middle East, and Africa, as we finalize the integration of Morgan Stanley Smith Barney in 2012” said Gregory J. Fleming, President of Morgan Stanley Smith Barney. “There is a significant opportunity to leverage Morgan Stanley’s global brand and premier institutional franchise in serving ultra high net worth individuals and families internationally.”
Morgan Stanley Smith Barney, a global leader in wealth management, provides access to a wide range of products and services to individuals, businesses and institutions, including brokerage and investment advisory services, financial and wealth planning, credit and lending, cash management, annuities and insurance, retirement and trust services. For further information about Morgan Stanley Smith Barney, please visit www.morganstanleysmithbarney.com.
Morgan Stanley Private Wealth Management, a division of Morgan Stanley Smith Barney Holdings LLC, provides a range of investment and private banking services to ultra-high net worth individuals, families and related institutions in the United States, Latin America, Europe, the Middle East and Asia.
Morgan Stanley (NYSE: MS) 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 1,300 offices in 43 countries. For further information about Morgan Stanley, please visit www.morganstanley.com.
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