Financial Business Review: Wells Fargo BUYS WestLB, Morgan Stanley Germany WITHOUT Chief
Wells Fargo (NYSE:WFC) purchases WestLB’s subscription finance portfolio, which includes around $6 billion in commitments, with about $3 billion outstanding. Financials of the transaction were not reported.
Morgan Stanley’s (NYSE:MS) division in Germany is currently without an official chief, as Dirk Notheis was granted a leave of absence subsequent to his allegedly sending emails to the premier of a German state, which has made regulators uneasy. Supposedly the contents of the messages ignited suspicions that Notheis and that government had a relationship that was too close for proper business norms.
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