Morgan Stanley (NYSE:MS): Current price $22.52
The Indian wealth mangement division of Morgan Stanley could be acquired by Standard Chartered, the United Kingdom bank that earns the majority of its profit in Asia, say two knowledgeable sources, who also related that the prospective buyer re-entered the private banking business in 2006, and intends to grow its India business. The four-year-old unit that might be for sale is led by Executive Director Himanshu Bhagat, who is based in Mumbai, while Standard Chartered’s private banking business is headed by Sandeep Das.
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