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Morgan Stanley top Asia banker resigns, co-heads named

Morgan Stanley top Asia banker resigns, co-heads named
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First Published: Fri, Jun 12 2009. 12 56 PM IST
Updated: Fri, Jun 12 2009. 12 56 PM IST
Hong Kong: Morgan Stanley has said that its head of Asia Pacific investment banking, Matthew Ginsburg, has resigned and named co-heads to replace him, amid speculation that Ginsburg is heading to Barclays.
According to sources close to the matter, Ginsburg, a veteran Asia banker, is expected to take the top Asia Pacific investment banking job at Barclays, a slot open since March.
Barclays declined to comment. Ginsburg did not return messages.
Morgan Stanley’s spokesman confirmed the report, saying that Ginsburg was leaving and Gokul Laroia and Kate Richdale would become co-heads of Asia Pacific investment banking.
Laroia has been with Morgan Stanley for more than 14 years, most recently as head of global capital markets for Asia, while Richdale has been with the bank for nearly a decade, most recently as the CEO for Southeast Asia.
Barclays’ former head of Asia-Pacific investment banking, Darcy Lai, left the bank in March. His job has been open ever since, with Barclays looking for a person with banking and equity capital market experience as the debt focused-firm builds out an equity platform.
Ginsburg would fit that profile. He became Morgan Stanley’s Asia Pacific investment banking head in May 2006, when Michael Berchtold relocated to the US. Ginsburg was previously head of the Asia Pacific financial institutions group, and has deep experience in both debt and equity capital markets.
Ginsburg, an American from the Boston area, has been in Asia for at least 15 years, and with Morgan Stanley for more than a decade, sources say. He was previously at what is now Credit Suisse.
Sources say that Ginsburg had been eyed for other top banking jobs in Asia, including openings at Citigroup and Deutsche Bank.
The unnamed sources were not authorised to speak on the record about Ginsburg’s next move. They cautioned that a final decision had not yet been made on the Barclays job.
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First Published: Fri, Jun 12 2009. 12 56 PM IST