Morgan Stanley has promoted Richard Wong and James Tam to be its new co-heads of mergers and acquisitions for the Asia Pacific region, succeeding Sam Kim who has also been promoted, according to an internal memo seen by Reuters on Tuesday. Kim will become vice chairman of investment banking in Asia Pacific, the memo said, focusing on the U.S.-based investment bank's most important clients in the region.Wong was most recently deputy head of M&A for Morgan Stanley, while Tam focused on the bank's China business including working on the $7.1 billion acquisition of Smithfield Foods Inc by WH Group, formerly known as Shuanghui International Holdings.A spokesman for Morgan Stanley confirmed the contents of the memo. (Reporting By Lawrence White; Editing by Edmund Klamann)
Morgan Stanley is a global financial services company that, through its subsidiaries and affiliates, provides its products and services to a range of clients and customers, including corporations, governments, financial institutions and individuals. Shares of MS fell by 0.27% or $-0.09/share to $32.85. In the past year, the shares have traded as low as $27.50 and as high as $36.44. On average, 9366670 shares of MS exchange hands on a given day and today's volume is recorded at 14668796.
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