Morgan Stanley is shifting more than 200 technology developers out of China after the country tightened access to cache of data stored onshore, Bloomberg News reported on Tuesday, citing people familiar with the matter.
Most of the employees are being moved mainly to Hong Kong and Singapore, according to the report, adding that the U.S.-based bank is building a standalone China system to comply with local regulations.Morgan Stanley did not immediately respond to a Reuters request for comment.
The new infrastructure, which may cost hundreds of millions of dollars, will be incompatible with Morgan Stanley's legacy global platforms as the lender overhauls its Asia strategy of handling client records, the report said.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Morgan Stanley beats estimates on record wealth management revenue'It's a process and what matters is they pick somebody who has the skillset to lead this type of company,' Morgan Stanley's James Gorman says on the board's search for a new CEO. 'We have 3 phenomenal candidates so it's set up really well.'
Les mer »
'Five-Alarm Fire': GOP Adds Over 200 Poison Pills to House Spending Bills'We cannot allow policy that harms regular people, threatens our rights, hurts the environment and does any number of other terrible things to ride along with the appropriations package,' says Public_Citizen's Lisa Gilbert in response to GOP poison pills.
Les mer »
Cougar spotted 200 feet up on Haystack Rock draws crowdsPeople from all over the U.S. head to Cannon Beach to see Haystack Rock. But over the weekend, they were there to see a cougar perched 200 feet up.
Les mer »
NewJeans' 'Super Shy' hits #2 on Billboard's 'Global 200' & 'Global Excl. U.S.' | allkpopNewJeans's 'Super Shy,' the group's triple title song and pre-release single from their 2nd mini album 'Get Up', has sec…
Les mer »
Here Are All the Hot 100 & Billboard 200 Chart Records That Taylor Swift Has Broken.taylorswift13's billboardcharts records: 📈 Most Top 10 Hot100 Hits Among Women 📈 Most Songs in the Top 10 of the Hot 100 Simultaneously 📈 Most Albums on the Billboard200 in a Single Week Among Women ...And more. 🏆 Check them out here:
Les mer »