Merrill Lynch is reportedly in talks to sell part of its $515bn (€421bn) investment management business to US mutual fund manager Legg Mason. Merrill Lynch was unavailable for comment. Legg Mason declined to comment.

Citing banking sources close to the talks, The New York Times said the two had held preliminary talks regarding the sale of part of Merrill Lynch Investment Management to Legg Mason.

Merrill Lynch and Legg Mason linked in sale talks

Alistair Graham

Legg Mason

Deutsche Bank

‘We’re just not very good at it’: Why bankers and wealth managers are struggling to work together

RBC takes on Brewin Dolphin client cash after acquisition

UK crypto firms face capital, insider trading rules under FCA crackdown

Kirkland & Ellis hires Clifford Chance London fund finance heavyweight

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US legal giant raids Magic Circle law firm in London

Monzo appoints Mombak’s Tom Oldham as group CFO 

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Monzo appoints Mombak’s Tom Oldham as group CFO

The fintech has also appointed Barclays’ Mark Newbery as its UK CFO

Fordham’s geopolitical advisory firm enlists political heavyweights, Citi FX specialist

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The advisory firm has turned to a former senior civil servant and Conservative MP to bolster its business amid heightened geopolitical tensions

The Japanese company is taking a bigger bet on the potential of artificial intelligence as the technology improves and gains momentum.

SoftBank Plans $1.5 Billion Investment in OpenAI

SoftBank Group Plans $1.5 Billion Investment in OpenAI

The luxury carmaker is raising around $264 million from investors as it seeks to stabilize its balance-sheet, and has cut its full-year earnings guidance for the second time in nearly three months.

Aston Martin Issues Another Profit Warning

Aston Martin Raises Cash From Investors, Issues Profit Warning

The food-delivery group said it aims to reduce the administrative burden, complexity and costs associated with its London listing, as it joins a growing list of companies leaving the U.K. bourse.

Just Eat Takeaway to Delist From London Stock Exchange

Just Eat Takeaway.com to Delist From London Stock Exchange

Kevin Hassett has been named to lead the National Economic Council, while Jamieson Greer has been selected as the U.S. trade representative.

Internal company documents describe the bank’s weak anti-money-laundering controls and failure to complete due-diligence reviews as staff expressed alarm: “We need to kill this.”

How Morgan Stanley Courted Dodgy Customers to Build a Wealth-Management Empire

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SoftBank Plans $1.5 Billion Investment in OpenAI

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How Morgan Stanley Courted Dodgy Customers to Build a Wealth-Management Empire