Morgan Stanley (NYSE: MS) today announced the appointment of Kate Richdale as the Firm's Chief Executive Officer for Southeast Asia. Ms. Richdale will be based in Singapore and will also serve as Head of Investment Banking for Southeast Asia. Ronald Ong, the current CEO of Southeast Asia, will now become Chairman, replacing Greg Terry who will become a Senior Advisor to the Firm in the region.
A Managing Director since 2003, Ms. Richdale has headed the Asia Pacific General Industries Group within the investment banking division since 2006, based in Hong Kong.
"With almost 600 staff across the region serving many of Asia's leading companies, investors and private wealth clients, Southeast Asia continues to be an important priority for the Firm in Asia", said Owen Thomas, Chief Executive Officer, Morgan Stanley Asia. "Building on Ronald and Greg's achievements, Kate's banking skills, leadership and passion for the business will be valuable assets as we continue to grow our Southeast Asia platforms."
Ms. Richdale was previously based in Singapore from 2001 and 2006, initially as Morgan Stanley's Head of Capital Markets for Southeast Asia and later as the region's Head of Investment Banking.
"I am delighted to be returning to Singapore," commented Ms. Richdale. "I look forward to working with our Southeast Asia clients and contributing to the Firm's success not only locally but across the globe, given the region's international importance and connectivity."
Ronald Ong has served as Chief Executive Officer for Southeast Asia since 2004. As Chairman, Mr Ong will play a senior coverage role to many of the Firm's clients across the region.
Morgan Stanley established a presence in Southeast Asia in 1985 with the opening of a Singapore office, its regional headquarters. Across the region the Firm is active in a wide range of business areas, including investment banking and capital markets, institutional sales and trading, commodities, asset management and private wealth management.
Earlier this month, Morgan Stanley announced that its Indonesian operating platform had been granted a regulatory licence to offer a full range of on-shore investment banking, underwriting and brokerage services. In addition, in February 2008, the Firm announced the formation of Morgan Stanley Gateway Securities in Vietnam to offer investment banking advisory and underwriting, brokerage services, research and principal investing. Morgan Stanley opened an office in Bangkok in 1997.
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. For further information about Morgan Stanley, please visit www.morganstanley.com.
Contact Media Relations: Nick Footitt, +852-2848-6847