SINGAPORE (Reuters) – Morgan Stanley said it opened its new Southeast Asia headquarters in Singapore’s swanky downtown business district this week.
An expanding list of global investors and financial institutions have flocked to Singapore, lured by low taxes, political stability and the city-state’s location as a gateway to Southeast Asian markets.
“We are excited to open our new Southeast Asia headquarters, an investment that reflects our commitment to Singapore and the wider region where we see significant long-term growth opportunities,” Morgan Stanley chief executive officer Ted Pick said in a statement dated Nov. 20.
The bank said its new offices will be spread across five floors and 9,941 square metres (107,000 square feet).
Morgan Stanley has been a prominent player in Singapore since 1990 with the financial hub serving as its Southeast Asia headquarters, according to the statement.
It also has offices in Jakarta, Bangkok and Manila.
(Reporting by Yantoultra Ngui; Editing by Saad Sayeed)