trending Market Intelligence /marketintelligence/en/news-insights/trending/i9vyzafwxsap-tx1zzogfq2 content esgSubNav
In This List

Report: Morgan Stanley dropping some international wealth management clients

Blog

Banking Essentials Newsletter: 7th February Edition

Case Study

A Bank Outsources Data Gathering to Meet Basel III Regulations

Podcast

Private Markets 360° | Episode 8: Powering the Global Private Markets (with Adam Kansler of S&P Global Market Intelligence)

Blog

Banks’ Response to Rising Rates & Liquidity Concerns


Report: Morgan Stanley dropping some international wealth management clients

Morgan Stanley is letting some of its international wealth management clients go as global investment banks move away from smaller clients and focus on elite fund managers, Bloomberg News reported.

Morgan Stanley gave some of its international clients 30 days to liquidate their accounts or transfer to another financial institution. The New York-based investment bank cited the "increasingly complex" investment needs and opportunities of clients outside the U.S. as reason for the move, according to the report.

It remains unclear why Morgan Stanley made the decision and how many people were affected, although only a small percentage of relatively small international accounts were affected by the move, "a person with knowledge of the matter" told Bloomberg News.

Barclays Plc earlier encouraged approximately 7,000 customers to conduct more trades with the company or move to another bank, the news outlet reported. Citigroup Inc. and HSBC Holdings Plc have implemented tiered client lists, focusing more on top money managers.