Global Investment Bank Morgan Stanley Launches Dedicated Cryptocurrency Research Team
Global Investment bank Morgan Stanley is setting up new cryptocurrency research team. "The launch of dedicated crypto research is recognition of the growing importance of cryptocurrencies and other digital assets in global markets " the bank said.
Morgan Stanley sets up new research team
Morgan Stanley is launching dedicated cryptocurrency research team, Bloomberg reported on Monday, citing the bank's internal staff memo that 'she consulted.
Led by Sheena Shah, the company's senior cryptocurrency analyst, the team will study the impact of cryptocurrencies on stocks and income securities fixed worldwide.
Shah will be based in London, where she will report to Adam Wood, who leads Morgan Stanley 's FinTech and Payments research team in Europe. She will also report toJames Faucette, who leads the company's U.S. Financial Technology and Payments research team.
The note reads:
Morgan Stanley was one of the first major investment banks to adopt cryptocurrency. In March, the firm made three bitcoin funds av available to its customers. In April, the firm added bitcoin to 12 mutual fund investment strategies.
Several other large financial institutions have also established dedicated cryptocurrency teams, including Bank of America ( BOFA) who created a cryp research teamto in July. Last week, asset management firm Franklin Templeton posted a job posting for an "investment research analyst" for cryptocurrency.
A growing number of banks are investing in cryptocurrency. Investment have started offering or are in the process of offering cryptocurrency services to their clients. . They include Goldman Sachs , Citigroup , Standard Chartered , Wells Fargo , and DBS .
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