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Morgan Stanley's Asia wealth business goes local

Unit incorporated in HK to get a bigger slice of region's growing private bank pie

Published Mon, Mar 16, 2015 · 09:50 PM

Singapore

MORGAN Stanley, one of the largest US banks, has incorporated its Asia wealth management unit in Hong Kong to get a larger slice of the region's burgeoning private bank business.

The Wall Street titan's Morgan Stanley Asia International Ltd is set up as a restricted licence bank in Hong Kong and its Singapore wealth management business operates as a branch of the Hong Kong bank, said Nick Chan, managing director.

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