Alok Modi has been promoted to the Head of Macro Trading for Morgan Stanley’s Asia Pacific operations. Modi assumes the position from his previous role as Managing Director with the multinational investment bank.
Finance Magnates spoke to Morgan Stanley who confirmed the promotion today. This is Modi’s third promotion with the bank, and the new position will see him relocate to Singapore.
Modi joined Morgan Stanley in 2014, leaving Barclays investment bank where he was a director in long-end and STRIPS trading.
Based in London, he first held the position of Head of Government Bond and CDS trading for Europe at Morgan Stanley. In less than a year, Modi was promoted to Managing Director in January 2015 - a position that’s becoming more and more difficult to achieve.
Modi’s appointment to the position was even more impressive when considering the short period he had been working at the bank. Most people who get promoted to Managing Director have been working at Morgan Stanley for most of their careers.
Morgan Stanley first began its operations in the Asia Pacific region in 1987 in Hong Kong. Since then, the investment bank has expanded its operations to offer its complete range of products and services. This includes institutional securities, corporate finance and advisory, private wealth management and investment management.
Brexit plans
Modi leaves Morgan Stanley’s European operations at a time where the bank is having to rethink its options in the United Kingdom with the looming Brexit deadline fast approaching.
Earlier this year, Finance Magnates reported that Morgan Stanley confirmed would announce more concrete decisions on its Brexit staff in H1 2018. While those details are yet to be announced, it was revealed that the bank chose Frankfurt to be its new EU base.
According to a report from Reuters, which Finance Magnates also covered, the bank plans to transfer nearly 200 people from the British capital to Frankfurt after receiving regulatory approval and office space.
Of course, the plans are heavily reliant on the outcome of the ongoing Brexit negotiations, as the rights of EU and UK citizens post-Brexit are still yet to be determined.
