Morgan Stanley merges funds biz under Tokyo

Paul Klug adds non-Japan Asia to his fief as the firm pushes regionalization.

Paul Klug, executive director and COO at Morgan Stanley Asset Management in Tokyo, has assumed responsibility for non-Japan Asia as well in a move to regionalize operations. TS Lee, his counterpart in Singapore, now reports directly to Klug. Previously both men reported to Richard Powers, global head of client services for the asset management arm in New York.

Dick decided we needed a regional approach, Klug explains. TS and I agreed. The reorganization was first considered a year ago as part of a general attempt by Morgan Stanley to better integrate its various business units.

Klug will now be responsible for the firm's regional business development, from strengthening institutional and retail distribution in established markets...

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