Morgan Stanley is moving over 200 technology developers out of mainland China after the country restricted access to data stored onshore, Bloomberg’s Cathy Chan reports, citing people familiar with the matter. The staff, accounting for over a third of the bank’s technologists on the mainland, are primarily shifting to Hong Kong and Singapore, the author notes.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on MS:
- Financial Stocks are Rising. The XLF ETF Could be Ready to Rebound
- Morgan Stanley sees dividend increases to continue in coming years, says Gorman
- Morgan Stanley doesn’t see new Basel rules taking effect until 2026 at earliest
- Morgan Stanley sees tax rate of 23% for 2H, says CFO
- Morgan Stanley does not expect NII to expand through rest of year, says CFO