Morgan Stanley is reportedly considering a move to trim its Asia-Pacific investment banking workforce.
According to a report by Bloomberg News, the bank is weighing a seven per cent cut – or about 40 jobs – primarily in the investment banking and capital markets business in the region excluding Japan.
The report notes that the cuts would be part of a global reduction at the bank in light of market conditions and in an effort to reduce expenses.
It was previously reported earlier this month that Morgan Stanley was planning to cut around 3,000 jobs globally in the second quarter, representing a second round of job cuts in six months and nearly four per cent of its 82,000 employees.
A global slowdown in dealmaking has impacted most of the major banks, with corporate buyout activity at its lowest level in a decade. Deals involving Asian companies totalled $176 billion in the first quarter of 2023 – the lowest level since 2013.
Latest News
-
OpenAI and Stripe bring direct purchasing to ChatGPT
-
Visa launches new hub to boost AI in commercial payments
-
Lloyd’s partners with Ireland’s Department of Finance for InsurTech innovation
-
JPMorgan fraud case sees Frank founder Charlie Javice jailed for seven years
-
Moneybox scales homebuyer offering with First Mortgage partnership
-
Deutsche Bank completes first euro cross-border payment via blockchain
Data trust in the AI era: Building customer confidence through responsible banking
In the second episode of FStech’s three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech examines the critical relationship between data trust, transparency, and responsible AI implementation in financial services.
Banking's GenAI evolution: Beyond the hype, building the future
In the first episode of a three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech explores how financial institutions can navigate the transformative potential of Generative AI while building lasting foundations for innovation.
Beyond compliance: Building unshakeable operational resilience in financial services
In today's rapidly evolving financial landscape, operational resilience has become a critical focus for institutions worldwide. As regulatory requirements grow more complex and cyber threats, particularly ransomware, become increasingly sophisticated, financial services providers must adapt and strengthen their defences. The intersection of compliance, technology, and security presents both challenges and opportunities.
Unleashing generative AI: A force multiplier for financial crime teams
This FStech webinar, sponsored by NICE Actimize sees industry experts examine the revolutionary impact of generative AI on financial crime operations, and provides actionable insights to enhance your compliance strategies.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories