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Global investment bank Morgan Stanley is establishing a new cryptocurrency research team. âThe launch of dedicated crypto research is in recognition of the growing significance of cryptocurrencies and other digital assets in global markets,â the bank said.
Morgan Stanley Sets Up New Research Team
Morgan Stanley is launching a dedicated cryptocurrency research team, Bloomberg reported Monday, citing the bankâs internal memo to staff it has seen.
Led by Sheena Shah, the firmâs lead cryptocurrency analyst, the team will research cryptocurrenciesâ impact on both equities and fixed income globally.
Shah will be based in London, where she will report to Adam Wood, who leads Morgan Stanleyâs fintech and payments research team in Europe. She will also report to James Faucette, who leads the firmâs fintech and payments research team in the U.S.
The memo states:
The launch of dedicated crypto research is in recognition of the growing significance of cryptocurrencies and other digital assets in global markets.
Morgan Stanley was among the first major investment banks to embrace cryptocurrency. In March, the firm made three bitcoin funds available to its clients. In April, the firm added bitcoin to 12 mutual fundsâ investment strategies.
Several other major financial institutions have also established dedicated cryptocurrency teams, including Bank of America (BOFA) which created a crypto research team in July. Last week, asset management firm Franklin Templeton posted a job notice for an âinvestment research analystâ for cryptocurrency.
A growing number of investment banks have begun offering or are in the process of offering cryptocurrency services to their clients. They include Goldman Sachs, Citigroup, Standard Chartered, Wells Fargo, and DBS.
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