Morgan Stanley Plans to Cut About 50 Investment Bankers in Asia
- New York-based lender considers reducing China focused roles
- Overseas China stock sales have tumbled 88% this year
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Morgan Stanley is considering cutting about 50 investment banking jobs in the Asia Pacific after dealmaking in the region plunged this year, people familiar with the matter said.
The New York-based bank plans to reduce a significant number of its China-focused banking roles, mostly from sector teams, and may involve a handful of capital markets positions, the people said, asking not to be identified because the matter is private. The cuts could start this month, they said.