Morgan Stanley completes Goldfish acquisition

With the transaction now complete, Morgan Stanley intends to reignite interest in Goldfish, a brand which represented the second most recognised credit card in the UK in 2003. Like Morgan Stanley, Goldfish built a loyal customer base by rewarding its customers for everyday use of their credit card. Morgan Stanley plans to use the two brands to appeal to a wider, more diverse customer segment and tailor each credit card accordingly.

The acquisition sees Morgan Stanley build on its strong portfolio of credit cards and closely follows the recent launch of the "ultra-premium" i24 Card, demonstrating Morgan Stanley's continued expansion in the UK credit card market.

In addition to the Goldfish acquisition, Morgan Stanley is looking to increase its affinity partnerships following the recent announcement of a credit card developed for Black Horse loan customers. Morgan Stanley also has long standing partnerships with Leeds Building Society and buy and fly. Morgan Stanley will continue to develop its market leading Cashback Bonus award at a time when many card providers are reducing their cash back offers.

Charlotte Hogg, managing director of Morgan Stanley's UK credit card business commented: "We are delighted to have completed our acquisition of the Goldfish business and are looking forward to working with Goldfish employees and customers. Over the next few months we will be developing the Goldfish offering to accurately reflect the types of rewards that customers value. Goldfish customers can be assured that any changes will only serve to enhance the offering."