Morgan Stanley’s $13B E-Trade buyout is the biggest bank deal since the financial crash

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Morgan Stanley has just struck the largest deal made by a global bank since the 2008 financial crisis. Pending regulatory approval, the Wall Street veteran is to acquire trading platform E-Trade for $13 billion in a bid to capture the “everyday investor” market. The move will bring E-Trade’s 5.2 million clients onto Morgan Stanley‘s books, along with its $360 billion in assets. According to Financial Times, the bank considers those users as a “pipeline of emerging wealth.” [READ: Morgan Stanley wants to sell Bitcoin – without actually selling it] It will also see Morgan Stanley grow to compete with finance’s biggest…
This story continues at The Next WebOriginal Article

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