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URGENT ¥¥¥ Credit Suisse to buy Morgan Stanley's wealth management arm

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(Globalpost/GlobalPost)

Swiss banking giant Credit Suisse on Wednesday announced it will buy US bank Morgan Stanley's wealth management businesses in Europe, the Middle East and Africa, excluding Switzerland.

The assets under management are worth $13 billion dollars (10.6 billion euros), Credit Suisse said in a statement.

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CREDIT SUISSE GROUP

MORGAN STANLEY

http://www.globalpost.com/dispatch/news/afp/130327/urgent-credit-suisse-buy-morgan-stanleys-wealth-management-arm