Morgan Stanley to launch its services for the wealthy folks in India


India is one of the fastest (second fastest in the world if you go by the stats) growing economies today. And banking on the nation’s economic growth is Morgan Stanley, who is all set to launch wealth management services for India’sIndia’s super-rich. According to Business Standard, Morgan Stanley plans to launch a host of services for India’s wealthy folks with an investable surplus of at least $1 billion. Considering the rate at which the Indian economy is blossoming, the number of billionaires in this nation is estimated to rise. Morgan Stanley wants to fill the gap left by other wealth management firms in India who cannot provide a wide number of services and options.

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India will become the fifth country to have Morgan Stanley services when the wealth management company launches its services on September 16. Unlike other companies, Morgan Stanley is realistic and estimates only a dozen members initially.
[Reuters]