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Morgan Stanley Says China Partner Is Open to Cede Control

  • Christianson says firm is well-positioned and will add staff
  • China plans to allow foreign control of securities ventures
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Wei Christianson discusses Morgan Stanley’s China plansSource: Bloomberg
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Morgan Stanley’s partner in its Chinese securities venture is willing to give up control as the government prepares to remove a foreign ownership cap, according to the U.S. bank’s Asia-Pacific co-Chief Executive Officer Wei Christianson.

The New York-based bank, which has already raised its stake in Morgan Stanley Huaxin Securities Co. to 49 percent from one third, aims to own a majority once China gives details on how the rule change will be implemented, Christianson said Friday in a Bloomberg Television interview from Guangzhou.