US-based investment bank Morgan Stanley acquires investment management firm Eaton Vance. Half of the $ 7 billion purchase will be made in cash and half in stock.

Morgan Stanley announced that it acquired Eaton Vance for $ 7 billion after E * Trade.

Morgan Stanley CEO James Gorman’s latest two big deals. To pursue millennials and other individual investors, E * Trade Financial Corp. Morgan Stanley’s wealth and asset management group will overshadow the bank’s core activities on Wall Street.

Gorman, backed by the stock performance that rose with Morgan Stanley’s wealth division and surpassed other Wall Street giants this year.

Stating that he has now completed strengthening the company, Morgan Stanley’s CEO stated that he is focusing on integration with E * Trade and Eaton Vance. “We don’t do any more. We’ve prepared our bed and we want to lie down now,” Gorman said.

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