The corporate logo of financial firm Morgan Stanley is pictured on the company's world headquarters in New York January 20, 2015. — Reuters pic
SINGAPORE, Aug 14 — Morgan Stanley is promoting a pair of dealmakers in South-east Asia, with one banker rising from intern to a senior position in just seven years.
The US firm has appointed Jannie Tsuei, who started as an associate intern in New York in 2011, as chief operating officer for South-east Asia investment banking, according to an internal memo obtained by Bloomberg. It named Jonathan Pflug, who joined Morgan Stanley as an associate that year, to head South-east Asia M&A and Singapore coverage.
Tsuei, who is a vice president at the firm, began her finance career on Morgan Stanley’s real estate investment banking team in the US before moving to Singapore in 2015, the memo shows. Earlier this year, she transitioned to Singapore coverage and has been helping build out the firm’s work on health-care deals in the region.
A representative for Morgan Stanley confirmed the contents of the memo.
“Gone are those days where you have to spend 15 to 20 years before you get a shot at the top,” Tsewang Bhotia, a Hong Kong-based director at recruitment firm Executive Access Ltd, said by phone yesterday. “These days, the turnover is a lot faster and in the last five years, they are getting younger.”
The promotions follow the departure of Gordon Parker, who was head of South-east Asia M&A at Morgan Stanley before moving to San Francisco-based boutique DBO Partners. Citigroup Inc poached Kelvin Goh, who was Morgan Stanley’s head of Singapore coverage and chief operating officer for South-east Asia investment banking, Bloomberg News reported in June.
Morgan Stanley ranked fourth on mergers and acquisitions involving companies in South-east Asia this year, down from first place for all of 2017, according to data compiled by Bloomberg.
The bank worked on the US$1.2 billion (RM4.9 billion) sale of EMR Capital’s Martabe gold mine announced last week. It also advised a TPG-backed consortium on its sale of a stake in consumer lender PT BFI Finance Indonesia to Mediobanca SpA.
Morgan Stanley advised Aboitiz Equity Ventures Inc on the acquisition of animal feed producer Gold Coin Management Holdings Ltd announced in July. It’s also working with Indonesia’s state-owned Inalum on a US$3.85 billion deal to gain control of Freeport-McMoRan Inc’s giant Grasberg copper mine in the country. — Bloomberg
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