Morgan Stanley is planning to hire two managing directors to beef up its local investment bank.
While the appointments are unlikely to be formalised until after the January bonus season, the firm is actively scouring the market.
The decision to add headcount comes after staff were last month told that Richard Wagner, who is head of investment banking, will take over as Morgan Stanley's country head and continue running the advisory operations. As part of those succession changes, Steve Harker will transition to vice-chairman. Morgan Stanley also did not restock its ranks after last year's defection by Peter Brownie to boutique firm Luminis.
Interestingly, the firm's hiring intentions come as its year-to-date league table performance in mergers and acquisitions has slipped. It ranks ninth working on nine announced deals totaling US$11.3 billion.
That comes after finishing last year in seventh spot.
In equity capital markets, Morgan Stanley is in eighth spot this year with transactions of US$538 million, down from fourth spot at the end of 2015.
