As part of its attempts to develop its brand in the region, Morgan Stanley has appointed David Aronovitch as its chief executive officer for Southeast Asia, according to sources. With the appointment, Ronald Ong, a seasoned banker with a thirty-year career, will concentrate on his responsibilities as the chairman of Southeast Asia, according to the memo.
According to the memo, both will transition into their new positions in the upcoming weeks.
The memo's contents were validated by a Morgan Stanley official.
According to the memo, Aronovitch joined Morgan Stanley as an analyst in 1998 and was later became head of Asia Pacific consumer retail investment banking in 2009 before being named global co-head in 2018.
Based on the memo, he will still be responsible for sector client coverage in his new position.
Since 2004, Ong, who has worked for Morgan Stanley since 1995, has contributed to the expansion of the firm's presence in Southeast Asia. As chairman, he will continue to have a "critical role with senior clients and regulators."
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