Morgan Stanley (NYSE: MS) today announced the appointment of Anthony Heredia as Chief Executive Officer of Morgan Stanley Investment Management in India. The role was previously held by Narayan Ramachandran who was named Chief Executive Officer and Country Head, Morgan Stanley India, in October last year.
Mr. Heredia joined Morgan Stanley Investment Management in February 2007 as Head of Sales and Marketing for India. He has over 13 years of experience in the Indian asset management industry and prior to joining Morgan Stanley was the Head of Sales and Distribution at HSBC Asset Management (India) Private Limited.
“As we continue to invest across all of Morgan Stanley’s businesses in India – including institutional sales and trading, research, investment banking, private equity, infrastructure and real estate investing – we remain focused and committed to the build out of our asset management platform,” said Narayan Ramachandran, CEO and Country Head, Morgan Stanley India.
In the last twelve months Morgan Stanley Mutual Fund has launched the Morgan Stanley A.C.E Fund, opened nine branch offices across India and established relationships with the country’s leading distributors. In December 2007, the Firm announced the expansion of its India investment team with the appointment of two highly experienced portfolio managers, Jayesh Gandhi and Navneet Munot. In addition, Morgan Stanley Investment Management established a private equity presence in India on 1 May, headed by Aluri Rao, and announced last month the closing of its US$4 billion global infrastructure fund, which is expected to be active in India.
“With its high growth trajectory and expanding savings and investment pool, India is a critical growth market for our asset management business in Asia,” said Blair Pickerell, Managing Director and Head of Morgan Stanley Investment Management for Asia. “We remain very positive on the long term prospects for this market and on India’s mutual fund industry, and under Anthony’s leadership, we’ll continue to invest in our platform and expand the product offering for our domestic and global clients.”
Morgan Stanley Mutual Fund has a unique investment team model, best described as a ‘Community of Boutiques’, which aims to ensure that each investment strategy is managed by a dedicated team with specific experience in that strategy. To start with, the Firm has identified three distinct boutiques: Large Cap Growth Equity with Sridhar Sivaram and Amay Hattangadi as Lead Portfolio Managers, Multi/Mid cap Equity with Jayesh Gandhi as Lead Portfolio Manager, and Multi-Strategy with Navneet Munot as Lead Portfolio Manager. Morgan Stanley A.C.E. (Across Capitalisations Equity) Fund, an open-ended equity scheme managed by Jayesh Gandhi, was launched in February, 2008 as the first fund open ended offering of Morgan Stanley Mutual Fund in India.
Morgan Stanley which has been active in the country since 1993 and is seeking to develop an integrated platform in India, which encompasses the full range of businesses the Firm conducts globally.
Morgan Stanley Investment Management in India
The India Magnum Fund, an offshore fund set up in 1989, marked the entry of Morgan Stanley in the Indian market. In 1994, Morgan Stanley launched its first domestic fund, Morgan Stanley Growth Fund (MSGF). As of December 31, 2007, Morgan Stanley Mutual Fund had approximately Rs 4380 crores in assets under management.
Morgan Stanley Investment Management
Morgan Stanley Investment Management, together with its investment advisory affiliates, has nearly 1000 investment professionals around the world and approximately US$577 billion in assets under management or supervision as of February 29, 2008. By leveraging its global ‘community of boutiques’ structure and the strength of Morgan Stanley, MSIM strives to provide outstanding long-term investment performance, service and a comprehensive suite of investment management solutions to a diverse client base, which includes governments, institutions, corporations and individuals.
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 33 countries. For further information about Morgan Stanley, please visit www.morganstanley.com.
Note to Editors:
Anthony Heredia Biography
Most recently, Mr. Heredia was Head of Sales and Marketing at Morgan Stanley Investment Management in India. Prior to joining Morgan Stanley in February 2007, he worked for HSBC Asset Management (India) Private Limited as Head of Sales and Distribution from 2001. He was the Assistant Vice President for Business Development at Birla Sun Life Asset Management Company from 1995 to 2001. Mr. Heredia has over 13 years experience in sales and marketing in the Indian fund management industry and he is a graduate of the University of Mumbai with a Chartered Accountant qualification.
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