International funding financial institution Morgan Stanley is establishing a brand new cryptocurrency analysis staff. “The launch of devoted crypto analysis is in recognition of the rising significance of cryptocurrencies and different digital belongings in international markets,” the financial institution mentioned.
Morgan Stanley Units Up New Analysis Group
Morgan Stanley is launching a devoted cryptocurrency analysis staff, Bloomberg reported Monday, citing the financial institution’s inside memo to workers it has seen.
Led by Sheena Shah, the agency’s lead cryptocurrency analyst, the staff will analysis cryptocurrencies’ influence on each equities and stuck revenue globally.
Shah shall be based mostly in London, the place she is going to report back to Adam Wooden, who leads Morgan Stanley’s fintech and funds analysis staff in Europe. She will even report back to James Faucette, who leads the agency’s fintech and funds analysis staff within the U.S.
The memo states:
The launch of devoted crypto analysis is in recognition of the rising significance of cryptocurrencies and different digital belongings in international markets.
Morgan Stanley was among the many first main funding banks to embrace cryptocurrency. In March, the agency made three bitcoin funds available to its shoppers. In April, the agency added bitcoin to 12 mutual funds’ funding methods.
A number of different main monetary establishments have additionally established devoted cryptocurrency groups, together with Bank of America (BOFA) which created a crypto analysis staff in July. Final week, asset administration agency Franklin Templeton posted a job discover for an “funding analysis analyst” for cryptocurrency.
A rising variety of funding banks have begun providing or are within the strategy of providing cryptocurrency providers to their shoppers. They embody Goldman Sachs, Citigroup, Standard Chartered, Wells Fargo, and DBS.
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