Morgan Stanley buys investment firm Eaton Vance for $7 bn

New York (AFP) – US financial powerhouse Morgan Stanley said Thursday it would acquire wealth management firm Eaton Vance for about $7 billion unveiling its second major takeover of 2020.The transaction, which comes on the heels of a $13 billion purchase of E-Trade, will bring another $500 billion in assets under management (AUM) within Morgan Stanley’s umbrella and broaden its standing as a wealth manager, the companies said in a statement.”Eaton Vance is a perfect fit for Morgan Stanley,” the company’s chief said James P. Gorman said in a statement. “This transaction further advances our str…

Read More

HEDGE accordingly