Morgan Stanley Asia personal fairness unit to reorganise as CEO retires By Reuters

By Kane Wu

HONG KONG (Reuters) -Morgan Stanley Non-public Fairness Asia (PEA) is reorganising its groups within the area as its present chief govt of Asia Chin Chou is retiring, in line with an inside memo reviewed by Reuters.

Morgan Stanley will carve out a China-focused group from the remainder of the area that focuses on investments in onshore and offshore China, in line with the memo.

The agency has appointed Jun Xu, who’s at the moment head of its yuan-denominated funding funds, to guide all personal fairness investing in China, the memo stated.

Xu joined Morgan Stanley in 2005 and has led the enlargement of the yuan-denominated personal fairness enterprise in China since becoming a member of Non-public Fairness Asia in 2008.

Nirav Mehta and Arjun Saigal, at the moment co-heads of India PE, will take the function of co-heads of PEA ex-China, which can nonetheless make investments throughout the area with India as its core focus, Morgan Stanley stated within the memo.

A spokesperson for the agency confirmed the content material of the memo.

Chou can be retiring after a 35-year profession with the Wall Avenue financial institution’s personal fairness arm, with stints in its New York workplace within the late Eighties earlier than coming to Asia within the Nineteen Nineties to ascertain the enterprise.

He served on the agency’s Asia-Pacific Govt Committee and is a key chief in its 5 regional personal fairness funds along with overseeing the creation of the China yuan and Thai Funds.

Andrew Hawkyard may even retire after 24 years with the PE Asia unit, most not too long ago serving because the unit’s chief funding officer, the memo stated.