Morgan Stanley Sells European Stock Plan Unit for $48.5 Million - Bloomberg 2013-0227

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Morgan Stanley Sells European Stock Plan Unit for $48.5 Million





By Michael J. Moore -
Feb 27, 2013 3:50 PM PT





Morgan Stanley (MS), owner of the world’s
largest brokerage, agreed to sell its European stock plan
services business to Computershare Ltd. for $48.5 million.


The deal is expected to be completed in May, Abbotsford,
Australia-based Computershare said today in a statement. Morgan
Stanley will continue to provide trade execution to clients of
the business after the sale, the New York-based bank said in a
separate statement.


The business offers trade execution, administration and
record-keeping for corporate equity-compensation plans, serving
nine companies in the Stoxx Europe 50 Index (SX5E) and 10 percent of
the U.K’s FTSE 100 Index. The unit, with 235,000 participant
accounts, operates from London and Barcelona, Computershare
said.


“This transaction is the result of our strategic decision
to focus our stock plan service offering on the global needs of
U.S.-based corporations,” Greg Fleming, president of Morgan
Stanley Wealth Management, said in his firm’s statement. “We
are planning to make significant investments in the U.S.
business to support our corporate clients and their employees
around the world.”


To contact the reporter on this story:
Michael J. Moore in New York at
mmoore55@bloomberg.net


To contact the editor responsible for this story:
David Scheer at
dscheer@bloomberg.net


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