Report: Morgan Stanley to Grow Wealth Team in Asia

Morgan Stanley plans on growing its wealth management staff and pursuing expansion in the Asia Pacific region, Vincent Chui, head of APAC wealth management, told Bloomberg.

In an interview, Chui said the firm expects to grow the number of its relationship managers in the region from 140 to 200 in the next few years. Chui also said despite potential market downturns in China, the US still offers comparatively stronger returns when adjusted for growth. 

The newly recruited advisors will specifically cater to ultra-high-net-worth clients as the firm aims to help them diversify away from Asia to other parts of the world, including investing in AI and healthcare sectors in the US.