Bloomberg News

Morgan Stanley Said to Sell India Wealth Management Business

November 07, 2012

Morgan Stanley (MS:US) may sell its wealth- management unit in India after a review of the business, said a person with knowledge of the matter.

The four-year-old business is headed by Executive Director Himanshu Bhagat based in Mumbai. A final decision on the sale will be taken in two months, according to the person, who declined to be identified as the plan isn’t public.

Reuters reported on the proposal earlier. Morgan Stanley declined to comment on the report in an e-mail.

To contact the reporter on this story: Anto Antony in Mumbai at aantony1@bloomberg.net

To contact the editor responsible for this story: Chitra Somayaji at csomayaji@bloomberg.net


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