Trilegal advised British multinational bank Standard Chartered in buying out US investment bank Morgan Stanley’s Indian private wealth management unit. Morgan Stanley was advised by Amarchand Mangaldas.
Trilegal partner Nishant Parikh, counsels Gautam Singh and Rahul Singh and associate Arjun Sharma acted for Standard Chartered. Mint reported that it will initially pay $8m (Rs 45 crore) for the Indian unit which has around $800m assets under management.
India is the third largest market in the world for Standard Chartered, according to the paper.
Amarchand Mangaldas Mumbai managing partner Cyril Shroff with partner Ipsita Dutta acted for Morgan Stanley which, Fox Business wrote had started the wealth management business in India in September 2008 when the stock markets were booming.
Picture credits: Marfis75
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Gautam Chawla is actually part of the competition team at Trilegal, whereas Gautam Singh is in Nishant's team.
Best wishes,
Prachi
Thank you for your comment but our deal reporting, as has been explained by Kian before, is not based just on revenues. If that were the case we wouldn't be often reporting smaller transactions done by start-ups.
So there are other factors involved in making that editorial choice.
Best wishes,
Prachi
Its the rediff strategy of giving a headline just to get someone to click and then reading the story makes it evident that its not as controversial as the headline made it out to be. So Prachi, the feedback is dont give misleading headlines. By all means, please report these kind of deals but do not try and mislead.
Thank you for your feedback.
We have now changed the headline to reflect the deal value also.
Best wishes,
Prachi
My suggestion would be to not mention the AUM value at all in the headline. It would still be a very catchy and interesting headline if it said "....sale of Morgan Stanley's India arm to StanChart". Cheers!
Best wishes,
Prachi
Your feedback was valuable and has been taken on board.
However, it is also a news editor's job to make condensed, catchy headlines. I think there is a difference between them being misleading and them being only indicative.
Best wishes,
Prachi
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