Morgan Stanley scales back mortgage business

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Morgan Stanley scales back mortgage business

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02-14-2008, 08:00 PM

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Morgan Stanley scales back mortgage business

Morgan Stanley, one of the world’s largest investment banks, has announced it is to scale back its mortgage lending business, which will result in 1,000 job losses.As part of the review, the bank is to close its UK residential mortgage arm and will reduce its lending business in the US. Anthony Meola, chief operating officer [...]

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