Morgan Stanley has made business development on management of the private capital of the priority purpose in Asia as the challenge is going to throw down to leaders of the industry, such as UBS AG, the head of regional division of the company has declared.
Invariably heading the Asian ratings in the field of merges and absorption Morgan Stanley this year actively hired advisers for the division on management of the private capital, the head of the Asian division Thomas Owen in interview Reuters has noticed.
«If to look at capital creation in Asia it is clear that it is very important, — he has told. — with increase in number of well-to-do persons in all territory of Asia, obviously, the territory of" operations »grows also. I don't think that we the unique company concentrated to it».
Business development on capital management in Asia is a part of plan Morgan Stanley directed on expansion of retail operations. Morgan Stanley Smith Barney became the largest American retail broker company after has been created last year.
Morgan Stanley intend will double number of persons employed in Asia, taken by capital management within the next three years, the basic attention to be given to the top segment of the market.
Global private banks this year even more often addressed to Asia where — except for Japan — the welfare can exceed twice almost world level, by estimations Boston Consulting Group.
Morgan Stanley in 2008 has started investment business projects in India, and through Smith Barney possesses private bank business in Australia.
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