UBS (UBS) Looked To Sell Brokerage Unit To Morgan Stanley (MS)

Earlier today, StreetInsider published a report that UBS (NYSE: UBS) is potentially looking to merge its wealth management unit with Wells Fargo's (NYSE: WFC) Wachovia Securities. However, UBS has been looking to do something with its brokerage business since late last year.

The Financial Times published a story today that late last year UBS had talks with Morgan Stanley (NYSE: MS) regarding a combination of the brokerage units. The FT said UBS was looking to sale its US brokerage unit to Morgan Stanley. The discussions were said to be preliminary and unlikely to be rekindled

Since the talks, Morgan Stanley has paid $2.7 billion for a majority stake in Citigroup's (NYSE: C) retail brokerage business.

Subscribe to EasyStockAlerts.com & Get real-time e-mail alerts when news hits your stocks!
UBS Financial is one of the largest US brokerages with nearly 8,000 financial advisers.

You May Also Be Interested In

• 10 analysts discuss Meta Platforms (META) stock after earnings selloff
• Siebert Financial Corp (SIEB) Receives Nasdaq Non-compliance Notice
• Marex Group (MRX) Prices 15.38M Share IPO at $19/sh