Zurich Financial Services has hired Goldman Sachs and Morgan Stanley to review its US asset management business, Zurich Scudder Investments.

It is unusual for both Goldman Sachs and Morgan Stanley to be called in by a company for mergers and acquisitions advisory work. Most companies prefer one of the banks to the other or use them separately. For instance, CGNU, the UK-based insurance company, is close to both banks but has hired them for different deals.