by Alexandra Capik
Morgan Stanley is considering a sale of its private bank in Switzerland, according to a spokesperson for the company.
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The private bank, which manages roughly CHF10 billion ($11.28bn) in assets, is under strategic review. The spokesperson declined to comment further.
Other international banks, such as Standard Chartered, have been offloading their Swiss operations due to either the need for more funds or private banking no longer being a vital part of their operations.
The sale remains under speculation.
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