Morgan Stanley cuts jobs at Asian equities desk

morgan stanley

Global investment bank, Morgan Stanley has just and some lay-offs at its Asian equities unit.

While Morgan Stanley has not commented but people with the knowledge of the matter said the job cut affected half a dozen mid-level and senior staff.

Morgan Stanley has been downplaying its equities trading business as the unit has been underperforming.

In its first quarter result, Morgan Stanley did beat estimates as a result of growth from its wealth management business. However, its equities trading unit saw a dip in revenue.

The latest job cuts is said to have affected its staff at its Hong Kong office