This new centre will be opened in 2014 and will complement Morgan Stanley’s GICs in Mumbai, the company said in a statement.
Commenting on the firm’s plans to grow its GIC capabilities and footprint in India, Bill Strong, Morgan Stanley’s Co-CEO Asia Pacific, said the company had reviewed global options for building a new GIC that can provide a mass of employees to support its global functions and saw value-add in expanding further our on-the-ground teams in India.
While this is a new investment, the company did not quantify the exact amount of investments.
However, it added that this new site in Bangalore is aligned with its continued focus on leveraging India’s skilled and diverse talent pool for the company.
Morgan Stanley has been present in India since 1993 and the back-office provides investment banking, asset management and research, capital markets-related research and sales and trading advisory services to its global clients that include high net worth individuals from 1,200 offices across 43 countries.
The firm will continue to grow its existing Mumbai-based centres, in addition to the new Bangalore centre, officials added.
