A spokesperson for Morgan Stanley confirmed that the firm’s wealth management business in Asia was granted a bank license first by Hong Kong’s HKMA late last year and more recently by MAS in Singapore. Until this point, the firm’s Asia Private Wealth Management (PWM) businesses in Hong Kong and Singapore had operated through local entities as a division of Morgan Stanley. The new structure will allow Morgan Stanley…
Morgan Stanley receives regulatory approvals for its wealth management business in Hong Kong and Singapore
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