Global investment bank Morgan Stanley is launching a new cryptocurrency research team. “The launch of dedicated crypto research is a 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 setting up a dedicated cryptocurrency research team, Bloomberg reported Monday, citing the bank’s internal memo to employees who saw it.
Led by Sheena Shah, the company’s senior cryptocurrency analyst, the team will study the impact of cryptocurrencies on stocks and fixed income securities around the world.
Shah will be based in London, where she reports to Adam Wood, who leads Morgan Stanley’s fintech and payment research team in Europe. She will also report to James Faucette, who leads the company’s fintech and payment research team in the United States
The note says:
The introduction of dedicated crypto research is a recognition of the growing importance of cryptocurrencies and other digital assets in global markets.
Morgan Stanley was one of the first major investment banks to introduce cryptocurrencies. In March, the company made three Bitcoin funds available to its customers. In April, the company added Bitcoin to the investment strategies of 12 mutual funds.
Several other major financial institutions have also set up dedicated cryptocurrency teams, including Bank of America (BOFA), which launched a cryptocurrency research team in July. Last week, wealth management firm Franklin Templeton posted a job posting for an “investment research analyst” in cryptocurrency.
A growing number of investment banks have started or are about to offer cryptocurrency services to their customers. These include Goldman Sachs, Citigroup, Standard Chartered, Wells Fargo, and DBS.
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