Top dog: Guzman Y Gomez founder Steven Marks (left) gestures while he speaks at the Morgan Stanley Summit in Sydney yesterday. The Wall Street lender has landed a lead manager role on the IPO of the Mexican food chain, the first large IPO in years. — Bloomberg
SYDNEY: Morgan Stanley plans to use artificial intelligence (AI) capabilities to manage rich people’s portfolios in Australia as the Wall Street bank roll outs more software in the country that’s used in other parts of the world.
“Other regions are a little bit more established. It’s a real opportunity for us to bring some of the leading ideas we have learned from overseas markets to Australia,” Morgan Stanley’s head of wealth management for Australia, Rebecca Hill, said in an interview with Bloomberg TV yesterday in Sydney.
