Skip to content
Subscriber Only

Morgan Stanley to Shift $120 Billion of Assets to Germany

  • Wall Street firm has already moved bankers to Frankfurt, Paris
  • Banks are beefing up their operations in the European Union
Banks' Job Cull Returns With Cuts Topping 60,000 in 2020 
Photographer: Simon Dawson/Bloomberg
Updated on

Morgan Stanley plans to move about 100 billion euros ($120 billion) of assets to Frankfurt, the latest Wall Street bank to shift business away from the U.K.

The U.S. lender expects to transfer the bulk of the assets in the first quarter of next year, when the transition period for Britain’s exit from the European Union will likely have elapsed, people familiar with the matter said. They will sit in the Frankfurt-based subsidiary Morgan Stanley Europe SE, the people said, asking not to be named discussing private information.