Morgan Stanley played a vital role in helping clients to manage the volatility in the banking sector before, during and after the panic this March. That included advising UBS on merging with Credit Suisse and New York Community Bank on its $2.7 billion purchase of certain assets and liabilities of Signature Bank from the Federal Deposit Insurance Corporation.
The pressure on US deposits began well before the Silicon Valley Bank collapse, and earlier action to bolster liquidity and capital meant that many Morgan Stanley clients were better prepared for the ensuing crisis.
In December, it acted as structuring adviser to US Bancorp on its $4 billion sale of prime auto loans through a securitization repack structure. It was also financial adviser to Texas Capital in its $3.4 billion divestment of its insurance premium finance business to Truist Financial in November and it was financial adviser to Truist on its $14.75 billion sale of Truist Insurance Holdings to Stone Point Capital, agreed in February.