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Friday, September 22, 2006

Morgan Stanley Makes Indian Bid

by: Sean Hanna, Editor in Chief

Morgan Stanley is preparing to reenter the Indian fund business. The U.S. wirehouse is one of the bidders for Standard Charter's Indian fund business.

Morgan Stanley is reportedly already adding staff in Indian in preparation of expanding its business on the subcontinent. The firm is planning to relocate Narayan Ramachandran from Singapore to take over as head of Morgan Stanley Investment Management in India. Ramachandran had been head of global emerging markets.

The firm has been in India since 1994 when it launched its first fund there, but has not opened follow-on products after the initial fund hit rough waters.  

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