Morgan Stanley, a leading multinational financial firm, is expanding its presence in India’s tech hub to leverage the exceptional talent in the country. With India being the second-largest base for global financial firms outside the U.S., Morgan Stanley sees tremendous potential in tapping into the country’s tech manpower. Michael Pizzi, Managing Director and Head of US Banks & Technology at Morgan Stanley, revealed that one-third of their global tech workforce is based in India, a clear testament to the abundance of exceptional talent in the country.
Pizzi commended India’s efforts in digitization, highlighting its transformative potential for both public and physical infrastructure. As part of its expansion strategy, Morgan Stanley is focusing on emerging technologies such as cloud computing and generative AI. The firm is actively seeking new talent proficient in these areas to support its growth and innovation initiatives.
Over the past three years, Morgan Stanley’s operations in India have experienced rapid growth. With approximately 8,000 employees, the company has established two global capability centers (GCCs) in Mumbai and Bengaluru. These centers cover a wide range of functions including technology, operations, finance, fund services, legal and compliance, HR, prime brokerage, internal audit, risk management, fixed income research, and parametric units.
In addition to expanding its operations, Morgan Stanley is also diversifying its investment banking business and trading products in India. This aggressive expansion coincides with the celebration of the company’s 30th anniversary of operation in the country.
Under Pizzi’s leadership, Morgan Stanley partnered with OpenAI to develop AI @ Morgan Stanley Assistant. This generative AI tool is aimed at enhancing productivity in wealth management through content retrieval and summarization.
As a firm committed to diversity, Morgan Stanley has made significant strides in promoting inclusivity in its Indian operations. In 2022, women constituted 36% of new hires (excluding campus hires), including several senior female technologists. The company has also launched the Return to Work (RTW) program, a 16-week paid internship designed to support professionals re-engaging with the workforce after a career break. The program extends support to individuals from diverse backgrounds, including LGBT+, people with disabilities, and veterans.
With $6.2 trillion of client assets under management across its wealth management and investment management businesses, Morgan Stanley remains a global leader in the financial industry. The company’s expansion in India’s tech hub reflects its commitment to leveraging exceptional talent and embracing emerging technologies to deliver value and drive innovation.