Global investment bank Morgan Stanley is launching a new cryptocurrency research team.
As reported by Bloomberg on Monday, Morgan Stanley is launching a dedicated cryptocurrency research team.
Meanwhile, The Team leader will Sheena Shah(the firm’s lead cryptocurrency analyst). They will research cryptocurrencies’ impact on both equities and fixed income globally.
Also, Shah will base in London, to be able report back to Adam Wood. Adam leads Morgan Stanley’s fintech and payments research team in Europe. She(Adam) will then report to James Faucette, leading the firm’s fintech and payments research team in the U.S.
The memo released says,
“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 accept cryptocurrency. Additionally, the firm made three bitcoin funds available to its clients in March. By April, the firm added bitcoin to 12 mutual funds’ investment strategies.
Meanwhile, Several other major financial institutions have also established dedicated cryptocurrency teams.
This will include Bank of America (BOFA) which created a crypto research team last July. However, Asset management firm Franklin Templeton released a job notice last week. The job notice was for an “investment research analyst” for cryptocurrency.
After Morgan Stanley, A growing number of investment banks have begun offering or in plans to offer cryptocurrency services to their clients. Some of these banks include Goldman Sachs, Citigroup, Standard Chartered, Wells Fargo, and DBS.