Morgan Stanley Boosts Asia Fixed Income Research Capabilities

Hong Kong —

Morgan Stanley (NYSE: MS) today announced that Geoff Kendrick and Kewei Yang have joined the Firm to bolster its regional macro research team. Kendrick joins as Head of Asian FX & Local Rates Strategy, while Yang will have responsibility for Asia Pacific Interest Rate Strategy reporting to Kendrick.

Based in Hong Kong, Kendrick and Yang join as Executive Directors.

Mr. Kendrick joins the Firm with 15 years of global markets experience and a strong foreign exchange research track record. He most recently served as Head of European FX Strategy at Nomura in London where he built a market leading strategy franchise widely recognized through an extensive client following and consistently high ranks in research polls.

Mr. Yang joins Morgan Stanley from Nomura in Singapore. An expert on China’s fixed income markets, Yang has also been recognized as one of the most insightful macro strategists in Asia with a client following that includes many of the biggest macro investors in the region and top ranks in Asian research polls.

“These new senior hires strengthen Morgan Stanley’s research coverage and put the Firm in a stronger position to drive our fixed income sales and trading business through the insightful and client-focused research for which Morgan Stanley is renowned,” said Stephen Glynn, Head of Fixed Income Division for Asia.

Viktor Hjort, Head of Asia Fixed Income Research, added, “We are pleased to welcome Geoff and Kewei to Morgan Stanley. They bring a wealth of experience to the Firm that puts us in an excellent position to differentiate our business and add value to our clients through the market insight and strong investment views they are recognised for.”

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 1,200 offices in 43 countries. For further information about Morgan Stanley, please visit www.morganstanley.com.

Media Relations Contact: Nick Footitt, +852-2848-6847