Morgan Stanley Unit to Buy American Financial Systems
22 Junho 2022 - 11:59AM
Dow Jones News
By Kathryn Hardison
Morgan Stanley at Work said it would acquire American Financial
Systems as the financial services company looks to expand its
workplace offerings.
The division of Morgan Stanley said Wednesday that its purchase
of American Financial Systems, which specializes in nonqualified
executive benefit plan solutions and services for employers, is
expected to close this fall. Terms of the deal weren't
disclosed.
Brian McDonald, head of Morgan Stanley at Work, said deferred
compensation plans have become more popular as employers strengthen
their compensation packages to attract and retain top talent.
Shares were trading at $74.16 Wednesday morning, down 24% for
the year and down 13% over the past 12 months.
Write to Kathryn Hardison at kathryn.hardison@wsj.com
(END) Dow Jones Newswires
June 22, 2022 10:44 ET (14:44 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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