Morgan Stanley Asia chair Roach to return to New York
HONG KONG (Reuters) - Stephen Roach, Morgan Stanley's Asia chairman and one of the region's best-known economists, is relocating from Hong Kong to New York and joining the faculty at Yale University, the bank said in a statement on Friday.
His new role at the bank would be as non-executive chairman of Asia from July 1, said Morgan Stanley.
Roach, a frequent commentator known for his bearish views on the global economy, moved to Hong Kong in June 2007 as the investment bank's Asia chairman. The promotion from chief economist to regional chairman -- a rare move, given the sales-driven culture of Wall Street firms -- was regarded as an attempt by Morgan Stanley to boost its profile in the region.
In his new role at the bank, Roach would travel often and remain in close touch with clients, government officials and regulators in Asia, according to the statement.
"While Steve has made the decision to return to the U.S. and join the faculty at Yale, we are delighted he will also remain at the firm," said Morgan Stanley Chief Executive James Gorman.
At Yale, Roach will teach at the School of Management and the Jackson Institute for Global affairs. His first course will be "The Next China," and will focus on China's economy.
(Reporting by Michael Flaherty; Editing by Don Durfee and Chris Lewis)
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