global. investment bank Morgan Stanley will begin conducting its businesses in
Japan under the oversight of a holding company named Morgan Stanley Japan Holdings
the new structure, which will take effect on 1 December 2007, all of Morgan Stanley''s
primary businesses in Japan will be owned by the holding company. Those companies
include Morgan Stanley Japan Securities Co., Ltd., Morgan Stanley Asset &
Investment Trust Management Co., Limited, Panorama Hospitality, K.K. and Jipang
Mortgage Finance Co., Ltd. Also reporting to the holding company will be property
asset manager Morgan Stanley Properties Japan, K.K., which will merge with the
real estate investing business and change its name to Morgan Stanley Capital K.K.
locally incorporated holding company represents a strengthening of our firm''s
commitment to Japan," said John J Mack, chairman and CEO of Morgan Stanley.
"It will enhance our position in a market that is increasingly important
to the future of the Firm."
development underscores Morgan Stanley''s continued growth in Japan, from two employees
when it established a representative office in Tokyo in 1970, to more than 1,600
employees today. The structure will strengthen Morgan Stanley''s corporate governance
and oversight of its growing business operations in Japan.
will allow us to build upon our record as the premier financial service provider
in the Japanese market," said Jonathan Kindred, president and representative
director of Morgan Stanley Japan Securities Co., Ltd. and CEO and representative
director of the new holding company.
development also sets the stage for further growth across Morgan Stanley''s broad
array of business in Japan. The new Morgan Stanley Capital corporate entity, for
example, will align its real estate investing teams under the firm''s investment
management umbrella, which was part of a global reorganization announcement earlier
in the year. Morgan Stanley Capital will leverage combined resources, services
and best practices to further develop its strong real estate client relationships
and product offerings.
are anticipating continued growth in Japan''s real estate market," said Morgan
Stanley Capital president, CEO and representative director Fred Schmidt. "This
new structure will ensure our team will continue to provide our clients and investors
with the highest quality service across all our functions."
Stanley is a leading global financial services firm providing a wide range of
investment banking, securities, investment management and wealth management, with
over 600 offices in 32 countries.