With the integration of Morgan Stanley's wealth management entities in Hong Kong and in Singapore, both of which have a local banking license, private clients of Bank Morgan Stanley AG will benefit from considerable additional services. This includes direct access to two booking centres and investments in the rapidly growing Asian market, extended trading hours and additional products.
Bank Morgan Stanley AG was founded in 1973 as a finance company and is today a FINMA-regulated Swiss bank. It employs more than 550 staff, whereof 170 in Switzerland and 380 in Hong Kong as well as Singapore. The bank has an A2 rating from Moody's and an A rating from Fitch. It manages CHF 41.5 billion (as per end-2011) in client assets, of which approx. 80% in Asia.
To take account of the Asian expansion, Chris Van Aeken has been appointed new CEO of the geographically extended Bank Morgan Stanley AG. A Belgian national, he has held various management positions at Morgan Stanley over the last more than fourteen years, including in Asia. Most recently he led Morgan Stanley Smith Barney's international banking and products businesses, as well as serving as Chairman of Bank Morgan Stanley AG. The latter position has now been assigned to Charles Mak, President of Morgan Stanley's international wealth management. François Andriot continues to be responsible for the Swiss wealth management business and Patrick Fuerer remains Chief Operating Officer of Bank Morgan Stanley AG.
Charles Mak, President of Morgan Stanley International Wealth Management:
„The integration of our wealth management entities in Switzerland and in Asia under the roof of Bank Morgan Stanley AG is a further step to strengthen our position in the growing market for internationally oriented UHNW investors, as well as allowing them easier access to our comprehensive service offering. Furthermore, this is a commitment to the financial center of Switzerland which we continue to deem very attractive.“
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