Morgan Stanley is open to dealmaking, according to CEO Ted Pick. The news comes as regulators lighten their stance on bank deals.
Several large banks have expressed interest in acquisitions to bolster their competitive positions, modernize their technology and expand in fast-growing areas such as wealth management and payments. Speaking at his firm’s investor conference, Pick pointed to wealth management and asset management as areas where the bank could explore potential acquisitions.
The bank agreed to acquire private shares platform EquityZen last year. Its biggest acquisition prior to that was the $7 billion purchase of investment management firm Eaton Vance in 2021.