Morgan Stanley Trims Indonesia Unit
Morgan Stanley has trimmed its Indonesia unit with the closure of an onshore business line.
Morgan Stanley will close its onshore institutional trading business in Indonesia, according to a «Reuters» report citing a response from the bank.
Around 10 jobs will be lost as a result of the closure, the report added, citing unnamed sources.
«[Morgan Stanley] intends to cease its onshore broker-dealer activities in Indonesia,» the statement said. «The firm remains committed to Indonesia and will continue to provide our global clients access to the equity market working with qualified local brokerage partners.»
