Morgan Stanley (NYSE: MS) and The Budapest University of Technology and Economics (BME) today announced a strategic partnership agreement.

Under the partnership agreement Morgan Stanley and BME will work together to develop research and education initiatives, combining the financial information technology expertise of Morgan Stanley with the market-leading teaching facilities of BME.  The partnership will also involve a number of innovative research projects.

This is a very exciting project for Morgan Stanley in Budapest,” commented David Legg, Managing Director.  “BME’s great heritage in the scientific, mathematical and engineering disciplines makes it a leader in the research and development of information technology applications.  We are looking forward to working closely with the BME teams to further develop cutting edge IT solutions.”

Morgan Stanley recently hired its 700th employee in its Budapest-based Business Services and Technology (BST) Centre. Employees in Budapest now carry out a number of support functions, including Financial Control, Information Technology, and Operations. 

“This is an important development for us”, commented Gabor Peceli, rector of BME.  “We are continuously striving to tailor and update our education programs to meet the needs of the business community and to develop our teaching and research facilities.  Linking up with Morgan Stanley will enable us to do that.  As a leading global bank, Morgan Stanley is very committed to developing cutting edge technology, and so we are delighted that The Financial Informatics Innovation and Knowledge Centre will be established at BME.

The Financial Informatics Innovation and Knowledge Centre opened at BME will work on research and development projects mostly on financial time series, risk analysis, portfolio optimization and financial information systems and software engineering.

About Morgan Stanley

Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services.  The firm's employees serve clients worldwide including corporations, governments, institutions and individuals from more than 600 offices in 35 countries.

Morgan Stanley in Hungary

In 2005, Morgan Stanley opened a Mathematical Modeling Centre in Budapest first in the Central and Eastern European region. In Autumn 2006 based on the excellent Hungarian higher education and the good quality people and professional local talents, Morgan Stanley’s Budapest-based Business Services and Technology (BST) Centre was established, as well.

The main objective of the Hungarian branches is to support the Firm’s business operations. Employees in Budapest now carry out a number of support functions, including Financial Control, Information Technology, and Operations. Thanks to the success of the above-mentioned divisions, the present activities will be extended in future. The Budapest Office is one of the most dynamically growing branches of Morgan Stanley.

Morgan Stanley and BME

Since 2005, Morgan Stanley has been working closely with the Faculty of Electrical Engineering and Informatics and with the Faculty of Natural Sciences of BME.

  • Morgan Stanley was instrumental in helping to set up and run the "Financial Information Systems" course now being taught at BME.
  • Morgan Stanley continues to be the main sponsor of Challenge 24, a 24-hour international programming contest hosted by BME. More than 300 teams register each year.
  • Five Research & Development contracts have been signed with BME, three projects for Information Technology and two for the Mathematical Modeling Team.
  • George Haller, European Head of Mathematical Modeling for Morgan Stanley, received an honorary doctorate from BME in 2008.
  • Morgan Stanley supports the accreditation of the new MSc program on Business Information Technologies which puts a special highlight on Financial Information Processes. This MSc program will include subjects such as: Functional Programming, Financial Information Systems, Financial Software Engineering based on the recommendation of Morgan Stanley.