Morgan Stanley, a global financial service firm, has re-entered investment banking after parting ways with JM Financial, its former Indian partner.

The firm has got a merchant banking license from the real estate regulator SEBI for its arm in India. It is also looking forward to expand its asset management and proprietary business.

Morgan Stanley has appointed Narayan Ramchandaran as CEO and country head for the company in India. Mr. Ramchandaran is currently working as the head of investment management in India (MSIM).

Four senior officials from DSP Merrill Lynch will be working with Morgan Stanly to establish its wealth management business in India. The names are Amitava Neogi, Partha Basu, Himangshu Bhagat and Himangshu Jain. The company has plans to recruit 100 more private bankers for the same.

A multitude of investment banks is considering to kick off their operations in India. The list includes the prominent names such as Goldman Sachs, Lehman Brothers, and Credit Suisse. The merchant banking license will help these firms to offer on-shore investment banking, advisory, and underwriting services.

India is a main priority for the firm and the most preferred area of continued investment. Morgan Stanley has been running its real estate advisory business in India lately and is trying to take it to new high.

Courtesy: Indianrealtynews.com