Morgan Stanley to acquire Eaton Vance in $1.2trn tie-up

Morgan Stanley Investment Management (MSIM) will become a "leading asset manager" with roughly $1.2trn assets under management and over $5bn of combined revenues, the firm said. This merger will see the "highly complementary businesses" enhance client opportunities by bringing Eaton Vance's US retail distribution under MSIM's international banner, while Eaton Vance will "fill product gaps and deliver quality scale to the MSIM franchise". Eaton Vance names CIO for $90bn of fixed income assets Increased scale, improved distribution, revenue opportunities and costs savings of $150m, o...