Morgan Stanley replaces key Asia executive
Morgan Stanley has replaced Michael Berchtold, head of Asia investment banking, with one of his lieutenants in a further shake-up at the top of its regional operations.
The Wall Street firm said on Tuesday that Mr Berchtold, one of the regions most experienced dealmakers, would leave his role as Asia-Pacific president and head of investment banking after seven years.
Mr Berchtold, 42, will be succeeded by Matthew Ginsburg, a close ally who is the current head of Morgan Stanleys financial services group in Asia, at the end of the year. Mr Berchtolds departure to Los Angeles to become a vice-chairman for Morgan Stanleys investment bank comes three months after John Mack, the global chief executive, appointed Hans Schuettler, a Europe-based banker, to lead the Asian operations.
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Mack reshuffles Morgan Stanley in Asia
John Mack, Morgan Stanley's chief executive, has moved to exert his influence in Asia by naming Hans Schuettler, a senior Europe-based banker, to the top of the firm's operations in the fast-growing region.
Mr Schuettler, Morgan Stanley's co-head of European investment banking, will replace Alasdair Morrison, a veteran Hong Kong-based businessman, as chief executive for Asia.
Mr Morrison, who had been chief executive and chairman since 2002, will retain the latter's role and represent Asia on Morgan Stanley's powerful management committee.
Franck Petitgas, Mr Schuettler's co-head, will become sole head of investment banking in Europe, according to an
Morgan Stanley's Zhu Joins Bain Capital's Asia Team
Boston-based private equity firm Bain Capital Wednesday said Morgan Stanley's (MS) former China Chief Executive Jonathan Zhu has joined Bain as a managing director, based in Hong Kong.
Bain Capital last year said it was opening a Hong Kong office.
Zhu, who is joining Bain Capital's Asia investment team after 11 years at Morgan Stanley, is one of several high-profile names to have left Morgan Stanley in recent months to join a private equity firm.
David Liu, former co-head of Morgan Stanley's private equity division, is joining U.S.-based Kohlberg Kravis Roberts & Co.
Morgan Stanley Private Equity Asia buys 19.9 pct of Taiwans CTCI
Morgan Stanley Private Equity Asia (MSPEA) said it has acquired a 19.9 pct stake in CTCI Corp (9933.TW), a leading engineering, procurement, and construction firm.
MSPEA did not disclose financial terms for its first investment in Taiwan.
Investing in Asia since 1993, MSPEA said it has been an active investor in China, South Korea and Singapore with a combined more than 650 mln usd invested so far.
We are very pleased to have the opportunity to invest in CTCI. The company has a very proud and excellent heritage, and
UBS Top Earner For Asia Pacific Ex-Japan For 2005
HONG KONG (Dow Jones)--Swiss banking giant UBS AG (UBS) was the top-earning investment bank for the Asia Pacific region excluding Japan in 2005, with revenue topping US$363 million, according to capital market data provider Dealogic PLC (DL.LN).
Wall Street rivals Citigroup Inc. (C) and Morgan Stanley (MWD) trailed UBS, generating US$293 million and US$249 million respectively in fees for the year. UBS captured 7.9% of the Asia Pacific ex-Japan revenue pool for 2005.
UBS was also the top bookrunner for the region, with US$13.62 billion worth of deals, according to Dealogic. Its
Asia: Rally running out of steam
Faltering Japanese shares and lower prices in South Korea and Taiwan are putting the brakes on the Asian stock market rally.
With a week to go, Morgan Stanley Capital International's Asia-Pacific index was 4.1 percent higher for the first quarter after climbing an aggregate 24 percent in the previous two quarters. Concern that borrowing costs will rise in the United States and elsewhere may limit further gains.
"There's considerable nervousness about the direction of interest rates," said Geoff Lewis at JF Asset Management.
"After having such a strong run earlier, markets need some time to
