According to BNN Bloomberg, the Morgan Stanley plans to create an office in Munich by the middle of next year to service investment banking clients in the technology, private equity, and industrial sectors.
It will be situated in the centre of town and will have a capacity of 16 employees.
Young start-ups and technological companies, as well as numerous enterprises included in Germany’s blue chip DAX Index, are based in Munich.
It has also drawn a lot of affluent people throughout the years, notably from Eastern Europe.
Perella Weinberg has operated in the Bavarian capital since 2020, while Goldman Sachs and Lazard have just opened offices there.
For its operations in Continental Europe, Morgan Stanley will continue to have its German headquarters in Frankfurt.
There are now 500 employees there, up from 150 in 2018.
Furthermore, Morgan Stanley has recently appointed Gillian Sheldon to oversee its British investment bank.
In the fourth quarter of 2023, Sheldon will join as managing director and vice-chair of the UK investment banking division.
She most recently served as a senior consultant at Credit Suisse and has had a number of positions there since joining the Swiss bank in 1996, including vice chairman of investment banking and member of the telecom, media, and technology team.
Sheldon had also previously worked for Rothschild.
Sheldon is the most recent veteran to leave Credit Suisse since the merger with UBS was announced in March.