Euromoney FX survey 2010: Morgan Stanley committed to client satisfaction in FX
Morgan Stanley is back in the top 10 in the FX survey. Investment in people and technology seems to have paid off. Alexandra Fletcher reports.
AFTER DROPPING OUT of the top 10 in 2009’s FX Survey, Morgan Stanley has since made big investments in technology and people. Until now the market had viewed this with a certain amount of scepticism. However, the investment seems to have paid off. With an increased public profile, Morgan Stanley is back at number 10 and is one of the top 10 banks with improved market share. Morgan Stanley's overall market share is now 2.91% although this is still well below its 2005 figure of 3.56%.
"We’re pushing as much business on to the platform as possible. And it seems to be working for us"
Stephen Glynn, co-head of FXEM based in Hong Kong, says that the bank’s FX capabilities had proved to be a "challenge" to the business model.