HONG KONG Feb 28 Morgan Stanley said
Gokul Laroia will become co-chief executive for the Asia-Pacific
region, replacing William Strong who will retire from the firm
in May, according to an internal memo obtained by Reuters on
A spokesman for Morgan Stanley confirmed the appointment.
Laroia retains his current position as head of the
institutional equity and wealth management business in Asia. He
will partner with Wei Sun Christianson as co-CEO Asia Pacific.
Laroia, 47, joined Morgan Stanley in 1995 and worked in
India, Singapore and Hong Kong. He moved from the bank's capital
markets division to become co-head of investment banking for
Asia-Pacific in June 2009, then in April 2011 became head of the
sales and trading department known as Institutional Equity Asia.
That shake-up saw Kate Richdale become sole head of
investment banking for the region, a role that she held until
moving to Goldman Sachs in March last
Since then Morgan Stanley has continued its strong run in
recent years on advising mergers and acquisitions in Asia
Pacific, finishing 2013 as the top-ranked investment bank for
such deals in the region according to Thomson Reuters data.
Morgan Stanley was the fourth-ranked bank for equity capital
markets deals in Asia-Pacific last year.
Strong, 61, moved to Hong Kong in March 2011 to serve as
co-chief for the Asia Pacific region alongside Christianson, the
U.S. investment bank's China head. Strong joined Morgan Stanley
in January 1993 in Chicago, spending 18 years there before the
move to Asia.
Strong notified the bank early last year of his desire to
retire from Morgan Stanley in May 2014, according to the memo.