Financial Services Giant Morgan Stanley Set to Open Office in Manila
Leading global financial services firm Morgan Stanley will soon set up shop in the Philippines, the Palace has confirmed.
“Mr. Laroia informed President Marcos that the top global investment bank will set up office in Manila,” Presidential Communications Secretary Cheloy Garafil said in a statement.
President Ferdinand "Bongbong" Marcos Jr. reportedly met with Gokul Laroia, chairman for Asia Pacific of Morgan Stanley, during the World Economic Forum (WEF) in Davos, Switzerland recently.
Morgan Stanley expressed its commitment to investing in the Philippines and its government-initiated development projects. The chairman also added that he thinks the proposed Maharlika Investment Fund is a good long-term investment strategy for sustained growth. The President, on the other hand, also discussed the possibility of obtaining funding for climate change initiatives.
Together with Marcos during the meeting were Speaker Martin Romualdez, Senator Mark Villar, Department of Trade and Industry Secretary Alfredo Pascual, Special Assistant to the President Secretary Anton Lagdameo, and San Miguel Corporation CEO Ramon Ang.
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The President meets with representatives from Morgan Stanley
Founded in 1935, Morgan Stanley is a New York-based multinational investment management company that now has operations in roughly 40 countries and currently employs more than 60,000 people. The financial institution has long worked with clients to facilitate mergers, acquisitions, initial public offerings, debt offerings, and share repurchases, among other services.
“We’re excited to be a part of it, and we’re spending time there, we’re opening an office there, we’re trying to work with—both the government but also the private sector. And we will be supporters and we will continue to be,” Laroia was quoted as saying.