We advised Morgan Stanley on the transaction

Davis Polk advised Morgan Stanley on the division of Morgan Stanley Capital Services LLC (MSCS), a swap dealer, into two separate entities and the subsequent merger of MSCS’s fixed income derivatives business into Morgan Stanley Bank, N.A. (MSBNA). The transaction involved obtaining a regulatory approval under the Bank Merger Act and other applicable regulatory approvals.

Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, wealth management services and investment management services. With offices in 42 countries, Morgan Stanley’s employees serve clients worldwide including corporations, governments, institutions and individuals. MSCS is the primary U.S. derivatives entity of Morgan Stanley, and MSBNA is a U.S. bank subsidiary of Morgan Stanley.

The financial institutions M&A team included partners Luigi L. De Ghenghi, David L. Portilla, Marc O. Williams and Gabriel D. Rosenberg, counsel Andrew S. Baer, Tyler X. Senackerib, Danjie Fang and Suiwen Liang and associates Kirill Lebedev, Mary Jane Dumankaya, Edwin P. Paillant, Abigail Barney, Itay Kazaz and Patrick Q. Sullivan. Partner Michael Mollerus and associate Seth Cole provided tax advice. Members of the Davis Polk team are based in the New York and Washington DC offices.

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