Morgan Stanley Combines Onshore And Offshore Operations

by Carla Johnson, Investors Offshore.com

05 December 2001

Global financial services firm Morgan Stanley has announced that its two principal businesses serving high net worth individuals around the world will be consolidated into a single business unit within the firm's Individual Investor Group in the new year.

Effective from 31 January, the combined businesses of Morgan Stanley's International Private Client Group and its Private Wealth Management business will be called Morgan Stanley Private Wealth Management.

In a statement from Morgan Stanley, president of the Individual Investor Group, John Schaefer, commented: 'A single-platform approach ensures that the client segment which is most important to the success of our global growth strategy enjoys the full benefit of all of the resources a firm like ours can provide.'

Mayree Clark, a Managing Director and currently the firm's Global Director of Research, will oversee the combined businesses: 'Ms Clark is a proven business builder who will leverage all of the firm's assets for the benefit of our Private Wealth Management clients,' said Mr Schaefer.

He added: 'She has led a world class team of research analysts, strategists, economists and managers who year after year clients rank among the best in the business. That kind of focus will be an enormous asset to us as we continue to make our Private Wealth Management services first choice for clients around the world.'

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